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, 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.
KeywordsChinese adolescents Financial capability Parental financial socialization
I would also like to thank all adolescent participants and their affiliated schools, for their cooperation and contribution.
This study was funded by grants from the Research Grant Council Strategic Public Policy Research (HKIEd 7001-SPPR-11).
Compliance with Ethical Standards
Conflict of interest
The authors declare no potential conflicts of interest with respect to the research, authorship, and/or publication of this article.
All procedures performed in studies involving human participants were in accordance with the ethical standards of the institutional and/or national research committee and with the 1964 Helsinki declaration and its later amendments or comparable ethical standards.
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