School Financial Education and Parental Financial Socialization: Findings from a Sample of Hong Kong Adolescents

Research output: Journal PublicationsJournal Article (refereed)

Abstract

This study evaluated a conceptual model with which to explore the influence of parental financial socialization in a sample of Hong Kong adolescent students and to evaluate how school financial education impacted the model’s results. Baseline data, collected before the financial intervention, revealed that parental financial socialization positively influenced adolescent financial behaviors as mediated by financial learning outcomes and psychological transformation, in sequence. Model results based on follow-up tests suggested that the positive link between parental financial norms and adolescents’ financial attitudes was stronger in the experimental group than in the control (no financial intervention) group, but the positive link between direct parental teaching and self-control in financial behaviors was weaker in the experimental group compared to that in the control group. Neither differential direct pathways linking financial learning outcomes to financial behaviors nor differential indirect pathways mediated by psychological transformation were identified. These findings improve the understanding of parental financial socialization in the context of school education. The results produce multiple research questions to be considered in future studies.
Original languageEnglish
Article number104532
JournalChildren and Youth Services Review
DOIs
Publication statusE-pub ahead of print - 31 Oct 2019

Fingerprint

Socialization
Hong Kong
socialization
adolescent
Education
Learning
school
Psychology
education
Adolescent Behavior
Control Groups
Group
self-control
Teaching
school education
Students
learning
Research
student

Keywords

  • adolescents
  • Hong Kong
  • Parental financial socialization
  • school financial education

Cite this

@article{7269b2ffb08c4b90bd14b251e5b5b90e,
title = "School Financial Education and Parental Financial Socialization: Findings from a Sample of Hong Kong Adolescents",
abstract = "This study evaluated a conceptual model with which to explore the influence of parental financial socialization in a sample of Hong Kong adolescent students and to evaluate how school financial education impacted the model’s results. Baseline data, collected before the financial intervention, revealed that parental financial socialization positively influenced adolescent financial behaviors as mediated by financial learning outcomes and psychological transformation, in sequence. Model results based on follow-up tests suggested that the positive link between parental financial norms and adolescents’ financial attitudes was stronger in the experimental group than in the control (no financial intervention) group, but the positive link between direct parental teaching and self-control in financial behaviors was weaker in the experimental group compared to that in the control group. Neither differential direct pathways linking financial learning outcomes to financial behaviors nor differential indirect pathways mediated by psychological transformation were identified. These findings improve the understanding of parental financial socialization in the context of school education. The results produce multiple research questions to be considered in future studies.",
keywords = "adolescents, Hong Kong, Parental financial socialization, school financial education",
author = "ZHU, {Alex Yue Feng}",
year = "2019",
month = "10",
day = "31",
doi = "10.1016/j.childyouth.2019.104532",
language = "English",
journal = "Children and Youth Services Review",
issn = "0190-7409",
publisher = "Elsevier Ltd",

}

TY - JOUR

T1 - School Financial Education and Parental Financial Socialization: Findings from a Sample of Hong Kong Adolescents

AU - ZHU, Alex Yue Feng

PY - 2019/10/31

Y1 - 2019/10/31

N2 - This study evaluated a conceptual model with which to explore the influence of parental financial socialization in a sample of Hong Kong adolescent students and to evaluate how school financial education impacted the model’s results. Baseline data, collected before the financial intervention, revealed that parental financial socialization positively influenced adolescent financial behaviors as mediated by financial learning outcomes and psychological transformation, in sequence. Model results based on follow-up tests suggested that the positive link between parental financial norms and adolescents’ financial attitudes was stronger in the experimental group than in the control (no financial intervention) group, but the positive link between direct parental teaching and self-control in financial behaviors was weaker in the experimental group compared to that in the control group. Neither differential direct pathways linking financial learning outcomes to financial behaviors nor differential indirect pathways mediated by psychological transformation were identified. These findings improve the understanding of parental financial socialization in the context of school education. The results produce multiple research questions to be considered in future studies.

AB - This study evaluated a conceptual model with which to explore the influence of parental financial socialization in a sample of Hong Kong adolescent students and to evaluate how school financial education impacted the model’s results. Baseline data, collected before the financial intervention, revealed that parental financial socialization positively influenced adolescent financial behaviors as mediated by financial learning outcomes and psychological transformation, in sequence. Model results based on follow-up tests suggested that the positive link between parental financial norms and adolescents’ financial attitudes was stronger in the experimental group than in the control (no financial intervention) group, but the positive link between direct parental teaching and self-control in financial behaviors was weaker in the experimental group compared to that in the control group. Neither differential direct pathways linking financial learning outcomes to financial behaviors nor differential indirect pathways mediated by psychological transformation were identified. These findings improve the understanding of parental financial socialization in the context of school education. The results produce multiple research questions to be considered in future studies.

KW - adolescents

KW - Hong Kong

KW - Parental financial socialization

KW - school financial education

U2 - 10.1016/j.childyouth.2019.104532

DO - 10.1016/j.childyouth.2019.104532

M3 - Journal Article (refereed)

JO - Children and Youth Services Review

JF - Children and Youth Services Review

SN - 0190-7409

M1 - 104532

ER -