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Author: Tang, Ning
Resulting in 3 citations.
1. Tang, Ning
Like Father Like Son: How Does Parents' Financial Behavior Affect Their Children's Financial Behavior?
Journal of Consumer Affairs 51,2 (Summer 2017): 284-311.
Also: http://onlinelibrary.wiley.com/doi/10.1111/joca.12122/abstract
Cohort(s): Children of the NLSY79, NLSY79, NLSY79 Young Adult
Publisher: American Council on Consumer Interests (ACCI)
Keyword(s): Credit/Credit Constraint; Debt/Borrowing; Financial Behaviors/Decisions; Intergenerational Patterns/Transmission; Parent Supervision/Monitoring; Parent-Child Relationship/Closeness; Parental Influences; Self-Control/Self-Regulation

Permission to reprint the abstract has not been received from the publisher.

This paper investigates the intergenerational influence on financial behavior. Using two national longitudinal studies: the 1979 National Longitudinal Survey Children and Young Adults (NLSCYA) and the 1979 National Longitudinal Survey (NLSY79), we link the financial behavior of 2,520 young adults back to their general self-control skill and their parents' financial behavior conducted during children's adolescence. We find evidence of intergenerational consistency in financial behavior between parents and their children. Results from the generalized structural equation model indicate that parents' financial behavior affects that of their children both directly and indirectly through general self-control skill development. Furthermore, the influence of parents is moderated by parent–child relationship. These findings highlight the importance of parental financial socialization. Its implications are discussed.
Bibliography Citation
Tang, Ning. "Like Father Like Son: How Does Parents' Financial Behavior Affect Their Children's Financial Behavior?" Journal of Consumer Affairs 51,2 (Summer 2017): 284-311.
2. Tang, Ning
Baker, Andrew
Self-Esteem, Financial Knowledge and Financial Behavior
Journal of Economic Psychology 54 (June 2016): 164-176.
Also: http://www.sciencedirect.com/science/article/pii/S0167487016301817
Cohort(s): NLSY79
Publisher: Elsevier
Keyword(s): Financial Behaviors/Decisions; Financial Literacy; Self-Esteem

Financial knowledge is an important but insufficient driver of responsible financial behavior. Having a positive evaluation of oneself may also be essential for individuals to initiate and persist with the daunting process of financial management. In this study, we distinguish subjective financial knowledge from objective financial knowledge, and we propose that self-esteem relates to financial behavior both directly as well as indirectly through subjective financial knowledge. Results based on a nationally representative dataset of U.S. adults suggest that self-esteem significantly relates to individual financial behavior after controlling for financial knowledge and other socioeconomic factors. The association between self-esteem and financial behavior could be both direct and indirect through subjective financial knowledge. These findings highlight the importance of psychological traits such as self-esteem in explaining financial behavior difference. Its implications are discussed.
Bibliography Citation
Tang, Ning and Andrew Baker. "Self-Esteem, Financial Knowledge and Financial Behavior." Journal of Economic Psychology 54 (June 2016): 164-176.
3. Tang, Ning
Baker, Andrew
Peter, Paula C.
Investigating the Disconnect between Financial Knowledge and Behavior: The Role of Parental Influence and Psychological Characteristics in Responsible Financial Behaviors among Young Adults
Journal of Consumer Affairs 49,2 (Summer 2015): 376-406.
Also: http://onlinelibrary.wiley.com/doi/10.1111/joca.12069/abstract
Cohort(s): NLSY97
Publisher: Wiley Online
Keyword(s): Financial Behaviors/Decisions; Financial Literacy; Gender Differences; Parental Influences; Self-Control/Self-Regulation

Permission to reprint the abstract has not been received from the publisher.

Financial knowledge is an essential component in financial decision making; however, knowledge is insufficient to ensure responsible financial behavior. We investigate the weak association between financial knowledge and behavior by simultaneously testing the roles financial knowledge, parental influence, and individual psychological characteristics (self-discipline and thoroughness) play in young adults' financial behaviors. Results from 2,712 respondents from the 1997 National Longitudinal Survey of Youth confirm there is a weak association between financial knowledge and behavior. Parental influence and self-discipline positively associate with responsible financial behavior. We also investigate the moderating role of gender and observe that financial knowledge and parental influence improve women's financial behavior more than men, whereas being thorough has a larger impact among males. These findings suggest that considering social and individual psychological factors in financial education programs could improve program efficiency. The results also highlight the importance of adopting tailored financial education to suit gender differences.
Bibliography Citation
Tang, Ning, Andrew Baker and Paula C. Peter. "Investigating the Disconnect between Financial Knowledge and Behavior: The Role of Parental Influence and Psychological Characteristics in Responsible Financial Behaviors among Young Adults." Journal of Consumer Affairs 49,2 (Summer 2015): 376-406.