Self-control and knowledge sharing on Chinese farmers’ credit default: Part-time salary as a moderator

In China's rural financial market, farmers’ credit default has resulted in a high non-performing loan (NPL) rate and increased financial risk. This work uses structural equation model (SEM) to study the factors of farmers’ credit default. The results show knowledge sharing would be the key factor, while the self-control variable is not significant. Knowledge sharing has three levels of dimensions among farmers. Financial knowledge is ranked in order of importance, followed by market and agricultural technology knowledge. At the same time, part-time job salary has a significant moderate effect between knowledge sharing and credit default. This work innovatively constructs two levels of rationality and emotion to analyze the credit default, and expands the application of behavioral finance in the field of farmer credit. The findings have some inspirations for reducing farmers' credit default risk.