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Title: Financial Behavior among Young Adult Consumers: The Influence of Self-determination and Financial Psychology
Resulting in 1 citation.
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Park, Heejung |
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Financial Behavior among Young Adult Consumers: The Influence of Self-determination and Financial Psychology Young Consumers published online (20 May 2021): DOI:10.1108/YC-12-2020-1263. Also: https://www.emerald.com/insight/content/doi/10.1108/YC-12-2020-1263/full/html Cohort(s): NLSY97 Publisher: Emerald Keyword(s): Debt/Borrowing; Financial Behaviors/Decisions; Motivation Permission to reprint the abstract has not been received from the publisher. Purpose: In the uncertainty of the global economy, many young adults have financial independence from their parents and are making financial decisions in a difficult financial environment. This study aims to focus on debt management behavior for young adult consumers. Design/methodology/approach: The data is from the 2010 National Longitudinal Survey of Youth 1997 (NLSY97). The NLSY97 includes information on US young consumers' financial, demographic and attitudinal characteristics, as well as various socio-economic conditions, making it convenient to explore the relationships between financial behavior and psychology variables. In the 2010 survey, 4,110 young consumers were interviewed. Findings: The results show that self-determination and motivation alone cannot bring about a direct change in financial behavior without the mediation of financial psychology. Therefore, consumer finance research should consider debt-management behavior by presenting different strategies than those currently used. |
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Bibliography Citation
Park, Heejung. "Financial Behavior among Young Adult Consumers: The Influence of Self-determination and Financial Psychology." Young Consumers published online (20 May 2021): DOI:10.1108/YC-12-2020-1263.
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