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Parental Socialization and Financial Capability Among Chinese Adolescents in Hong Kong

  • Alex Yue Feng Zhu
Original Paper
  • 24 Downloads

Abstract

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.

Keywords

Chinese adolescents Financial capability Parental financial socialization 

Notes

Acknowledgements

I would also like to thank all adolescent participants and their affiliated schools, for their cooperation and contribution.

Funding

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.

Ethical Approval

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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Copyright information

© Springer Science+Business Media, LLC, part of Springer Nature 2018

Authors and Affiliations

  1. 1.Centre for Innovative Programmes for Adolescents and Families, Jockey Club Innovation TowerThe Hong Kong Polytechnic UniversityHung HomHong Kong SAR

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