2016/09/10 by Ning Tang
Business, Management and Accounting · Medicine · Psychology · Social Sciences · #Affect (linguistics) #Consistency (knowledge bases) #Demographic economics #Developmental psychology #Economics #Finance #Financial Literacy, Pension, Retirement Analysis #Gender, Labor, and Family Dynamics #Longitudinal study #Medicine #National Longitudinal Surveys #Psychological Well-being and Life Satisfaction #Psychology #Socialization #Structural equation modeling
paper · doi:10.1111/joca.12122
crossref issued 2016/09/10 · crossref published 2016/09/10 · crossref published-online 2016/09/10 · openalex publication_date 2016/09/10 · crossref created 2016/09/10 · crossref published-print 2017/07/01 · crossref deposited 2024/06/19 · openalex created_date 2025/10/10 · crossref indexed 2026/08/01 · openalex updated_date 2026/08/02
This paper investigates the intergenerational influence on financial behavior. Using two national longitudinal studies: the 1979 National Longitudinal Survey Children and Young Adults ( NLSCYA ) and the 1979 National Longitudinal Survey ( NLSY79 ), we link the financial behavior of 2,520 young adults back to their general self‐control skill and their parents' financial behavior conducted during children's adolescence. We find evidence of intergenerational consistency in financial behavior between parents and their children. Results from the generalized structural equation model indicate that parents' financial behavior affects that of their children both directly and indirectly through general self‐control skill development. Furthermore, the influence of parents is moderated by parent–child relationship. These findings highlight the importance of parental financial socialization. Its implications are discussed.