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ISSN: 2344 - 102X
ISSN-L: 2344 - 102X
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Article from Volume 6, Number 3, Year 2018| ANALYSIS OF THE FINANCIAL CULTURE RELATED INTERGENERATION EFFECTS. INVESTIAGION OF YOUNG CONSUMERS' FINANCIAL BEHAVIOR | 
Download | | Author(s): Boglarka Zsoter | | DOI: 10.4316/EJAFB.2018.639 | | Abstract: The purpose of this paper is to provide insight into the consumer and financial socialization of young adults, with applying a result approach - outcome of parental intergenerational influence on children's financial behaviour - as well as a process approach - the nature of the influence. The empirical part of the research is based on a database of 1070 persons, actually 535 student-parent pairs. An online questionnaire on financial behaviour, attitudes and materialism has been completed by students of the Corvinus University of Budapest and their parents. Based on Z-test and regression analysis results show that family effects exist on young adults' financial behavior and family communication patterns have got a significant role in shaping financial socizalization processes. Implications for marketers (eg. commercial banks with financial education programmes) and for educators are encapsulated in the paper. While the analyses and results of the present paper are built on a larger sample size than similar studies with paired samples, and they equally include fathers, the sampling is restricted to students of one university. Studies so far have examined the related phenomena from one perspective only (e.g. from that of the child, or the parent). The scientific conclusions of the research, therefore, are expected to provide, inter alia, a more accurate, more reliable and more valid point of reference for upcoming scientific studies in the field. | | Keywords: Financial Socialization, Consumer Socialization, Family, Intergenerational Effects, Young Consumers, Consumer Finance | References:
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