Centro de Documentacion de Fundación MAPFRE - Like father like son : how does parents' financial behavior affect their children's financial behavior?

MAP20170039433

Like father like son : how does parents' financial behavior affect their children's financial behavior? / Leonore Riitsalu, Kaire Pöder

Sumario: This paper investigates the 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 parentchild relationship. These findings highlight the importance of parental financial socialization. Its implications are discussed.Intergenerational influence on financial behaviour

En: The Journal of consumer affairs, Volume 51, Issue 2, Summer 2017. - Pages 284-311

1. Familias . 2. Ahorro financiero familiar . 3. Educación financiera . 4. Comportamiento financiero . I. Pöder, Kaire .