Search Results
Title: Like Father Like Son: How Does Parents' Financial Behavior Affect Their Children's Financial Behavior?
Resulting in 1 citation.
| 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.
|