Parental Socialization and Financial Capability Among Chinese Adolescents in Hong Kong

The financial capability of adolescents is important because it establishes cognitive and behavioral patterns that enable them to manage their financial resources in later life. Analyzing the data collected in a sample of 946 adolescent Chinese students from Hong Kong (55.7% female, mean age = 14.5,...

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Bibliographic Details
Published inJournal of family and economic issues Vol. 39; no. 4; pp. 566 - 576
Main Author Zhu, Alex Yue Feng
Format Journal Article
LanguageEnglish
Published New York Springer US 01.12.2018
Springer Nature B.V
Subjects
Adolescents
Attitudes
Behavior
Cognitive-behavioral factors
Family
Knowledge
Locus of control
Original Paper
Parents & parenting
Perceived control
Personal finance
Personality and Social Psychology
Social Policy
Social Sciences
Socialization
Sociology
Teaching
Teenagers
Hong Kong China
China
Parental financial socialization
Financial capability
Chinese adolescents
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Summary:The financial capability of adolescents is important because it establishes cognitive and behavioral patterns that enable them to manage their financial resources in later life. Analyzing the data collected in a sample of 946 adolescent Chinese students from Hong Kong (55.7% female, mean age = 14.5, range 12–18 years), the present study found parental socialization (i.e., direct parental teaching and parental financial norms) influenced adolescents’ financial behavior through via financial learning outcomes (i.e., subjective financial knowledge, adoption of modeled parental financial behavior, and objective financial knowledge) and financial attitudinal variables (i.e., perceived behavioral control and financial attitude). The findings suggest parents should intentionally teach financial knowledge, and convey clear and positive financial norms to adolescents.
ISSN:1058-0476
1573-3475
DOI:10.1007/s10834-018-9584-5