Table 2 Basic model results

Main explanatory variable

 Financial investment

0.021^**

-0.030^***

-0.207^***

-0.191^**

(0.010)

(0.011)

(0.068)

(0.096)

Individual characteristics

 Age

-0.020

-0.017

0.195^*

0.226

(0.022)

(0.025)

(0.101)

(0.160)

 Boy

0.125^***

-0.277^***

0.092

-0.386^**

(0.027)

(0.034)

(0.128)

(0.189)

 Agriculture

-0.015

-0.069^*

0.318^**

-0.031

(0.032)

(0.040)

(0.159)

(0.256)

 Cognitive ability

-0.064^***

0.067^***

-0.220^***

-0.253^*

(0.018)

(0.019)

(0.084)

(0.138)

 Love

-0.067

0.025

0.908^***

2.842^***

(0.042)

(0.057)

(0.255)

(0.357)

Family characteristics

 Parents married

0.114^**

0.032

-0.709^**

-0.762^**

(0.049)

(0.066)

(0.288)

(0.378)

 Only child

0.015

0.022

0.109

-0.625^***

(0.033)

(0.037)

(0.153)

(0.235)

 Parents quarrel

-0.323^***

0.356^***

0.104

4.187^***

(0.049)

(0.061)

(0.201)

(0.368)

 Mother's education

0.007

-0.002

0.202^*

-0.023

(0.016)

(0.018)

(0.103)

(0.118)

 Family economic status

0.206^***

-0.089^***

0.004

-1.020^***

(0.026)

(0.028)

(0.199)

(0.206)

Community characteristics

 Health environment

0.108^***

-0.066^**

-0.257^*

-0.825^***

(0.023)

(0.030)

(0.133)

(0.165)

School characteristics

 School level

-0.027

0.032

-0.001

0.595^***

(0.025)

(0.024)

(0.093)

(0.210)

 Constant

-

-

2.134

25.681^***

-

-

(1.806)

(3.126)

 County (District) FE

Y

Y

Y

Y

 Observations

6516

6516

6516

6516

 Wald/F statistic

537.54

211.08

5.937

15.440

 Pseudo-R²/Adj- R²

0.025

0.025

0.025

0.079