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Applied Research in Quality of Life

, Volume 11, Issue 4, pp 1287–1308 | Cite as

Intergenerational Transmission of Wealth and Life Satisfaction

  • Kang-Rae MaEmail author
Article

Abstract

Previous literature has demonstrated that family wealth (or parental wealth) has a significant effect on the life satisfaction of children, but the exact mechanism behind this effect remains unknown. This study thus investigates the extent to which parental wealth can have an effect on the child’s life satisfaction through parental life satisfaction and the child’s wealth, using data from the Korean Labor and Income Panel Study. This study tries to extend existing knowledge of the effect of family background on the child’s life satisfaction, by linking two related phenomena known as intergenerational transmission of life satisfaction and intergenerational transmission of wealth. This study shows that parents’ net wealth has an effect on the child’s life satisfaction through two important mediating factors, specifically, their own life satisfaction and the child’s net wealth. This empirical evidence sheds light on the mechanism that links parental wealth and the child’s life satisfaction.

Keywords

Intergenerational transmission Transmission of life satisfaction Subjective well-being Multiple mediator model 

Notes

Compliance with Ethical Standards

Conflict of Interest

The author, Kang-Rae Ma, declares that I have no conflict of interest.

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Copyright information

© Springer Science+Business Media Dordrecht and The International Society for Quality-of-Life Studies (ISQOLS) 2015

Authors and Affiliations

  1. 1.College of Social ScienceChung-Ang UniversitySeoulSouth Korea

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