Parental socialization and financial capability among Chinese adolescents in Hong Kong

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15 Citations (Scopus)

Abstract

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. Copyright © 2018 Springer Science+Business Media, LLC, part of Springer Nature.

Original languageEnglish
Pages (from-to)566-576
JournalJournal of Family and Economic Issues
Volume39
Early online dateJul 2018
DOIs
Publication statusPublished - Dec 2018

Citation

Zhu, A. Y. F. (2018). Parental socialization and financial capability among Chinese adolescents in Hong Kong. Journal of Family and Economic Issues, 39, 566-576. https://doi.org/10.1007/s10834-018-9584-5

Keywords

  • Chinese adolescents
  • Financial capability
  • Parental financial socialization

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