Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You and Your Team.

Learn More →

Family financial socialization, financial information seeking behavior and financial literacy among youth

Family financial socialization, financial information seeking behavior and financial literacy... PurposeThis study examined the relationship between financial information seeking behavior and financial literacy, as well as the relationship between parents' teaching and behavior with financial information seeking behavior through the factors of the risk information seeking and processing model among youth.Design/methodology/approachA sample of 802 tertiary education students participated in this cross-sectional study. Using covariance-based structural equation modeling, the model was assessed and hypotheses were tested.FindingsThe results revealed that financial information seeking behavior contributed to youth's financial literacy. While parents' sound financial behavior was directly related to seeking financial information, both parents' financial teaching and behavior indirectly, through the risk information seeking process, encouraged youth to actively seek for financial information. Moreover, parents' financial socialization directly and also indirectly through the risk information seeking and processing model explained youth's financial information avoidance. Among the two parts of the risk information seeking and processing model, planned behavior factors played a more salient role than cognitive need for financial information.Originality/valueThis study extends the risk information seeking and processing model by integrating family financial socialization to the model and applies it in the context of consumers' financial behavior. The results improve our understanding of the social and psychological mechanism that drives consumers' financial literacy and decision-making. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Asia-Pacific Journal of Business Administration Emerald Publishing

Family financial socialization, financial information seeking behavior and financial literacy among youth

Loading next page...
 
/lp/emerald-publishing/family-financial-socialization-financial-information-seeking-behavior-UHOiwu5lt5
Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1757-4323
DOI
10.1108/APJBA-09-2019-0196
Publisher site
See Article on Publisher Site

Abstract

PurposeThis study examined the relationship between financial information seeking behavior and financial literacy, as well as the relationship between parents' teaching and behavior with financial information seeking behavior through the factors of the risk information seeking and processing model among youth.Design/methodology/approachA sample of 802 tertiary education students participated in this cross-sectional study. Using covariance-based structural equation modeling, the model was assessed and hypotheses were tested.FindingsThe results revealed that financial information seeking behavior contributed to youth's financial literacy. While parents' sound financial behavior was directly related to seeking financial information, both parents' financial teaching and behavior indirectly, through the risk information seeking process, encouraged youth to actively seek for financial information. Moreover, parents' financial socialization directly and also indirectly through the risk information seeking and processing model explained youth's financial information avoidance. Among the two parts of the risk information seeking and processing model, planned behavior factors played a more salient role than cognitive need for financial information.Originality/valueThis study extends the risk information seeking and processing model by integrating family financial socialization to the model and applies it in the context of consumers' financial behavior. The results improve our understanding of the social and psychological mechanism that drives consumers' financial literacy and decision-making.

Journal

Asia-Pacific Journal of Business AdministrationEmerald Publishing

Published: Apr 10, 2020

There are no references for this article.

You’re reading a free preview. Subscribe to read the entire article.


DeepDyve is your
personal research library

It’s your single place to instantly
discover and read the research
that matters to you.

Enjoy affordable access to
over 18 million articles from more than
15,000 peer-reviewed journals.

All for just $49/month

Explore the DeepDyve Library

Search

Query the DeepDyve database, plus search all of PubMed and Google Scholar seamlessly

Organize

Save any article or search result from DeepDyve, PubMed, and Google Scholar... all in one place.

Access

Get unlimited, online access to over 18 million full-text articles from more than 15,000 scientific journals.

Your journals are on DeepDyve

Read from thousands of the leading scholarly journals from SpringerNature, Wiley-Blackwell, Oxford University Press and more.

All the latest content is available, no embargo periods.

See the journals in your area

DeepDyve

Freelancer

DeepDyve

Pro

Price

FREE

$49/month
$499/year

Save searches from
Google Scholar,
PubMed

Create folders to
organize your research

Export folders, citations

Read DeepDyve articles

Abstract access only

Unlimited access to over
18 million full-text articles

Print

20 pages / month