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Intergenerational influences on the financial behaviour of young adults

Intergenerational influences on the financial behaviour of young adults. Boglárka Zsótér Corvinus University of Budapest EMAC Regional Conference, Belgrade 12th September 2012 Supervisor: Anrdás Bauer, PhD. Agenda. Research questions Theoretical background Proposed research methodology

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Intergenerational influences on the financial behaviour of young adults

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  1. Intergenerational influences on the financial behaviour of young adults Boglárka Zsótér Corvinus University of Budapest EMAC Regional Conference, Belgrade 12th September 2012 Supervisor: Anrdás Bauer, PhD

  2. Agenda • Research questions • Theoretical background • Proposed research methodology • Summary

  3. Research questions Discovering and understanding the key intergenerational factors and dynamics which form and influence youth’s financial behaviour • How can we interpret the different ways of intergenerational influence on youth’s financial behaviour? • What is the nature and extent of intergenerational influence on youth’s financial behaviour? • What can we say about the dynamics of intergenerational influence with using the family communication patterns? • What kind of relationship exists between the oblique and vertical intergenerational transmission? • What kind of role do the psychological factors playin this process?

  4. Financial behaviour of young adult’s • Focus on outcomes • Different definitions • Responsible Financial Behaviour (Perry & Morris, 2005; Danes et al, 1999) • + Financial Attitudes and Materialism (Yamauchi & Templer,1982; Richins & Dawson, 1992)

  5. Intergenerational influences • Vertical – Oblique- Horizontal (Trommsdorff, 2009) • Outcomes –Process- Direction • Consumer socialization • Role of parents and schools

  6. Role of parents • Parental practice and teaching • Modelling of behaviours • Rules and monitoring • Parental lenience • Giving allowance • Direct communication (Shim et al, 2010) • Transmission of financial behaviour • Transmission of financial attitudes • Transmission of materialistic values • Family communication patterns (Carlson et al, 1990)

  7. Role of psychological factors • Emotional Intelligence • Locus of Control • Future Orientation • Delay of Gratification • Mediator of FCP (Farahati et al, 2011; Keaten-Kelly, 2008)

  8. Role of financial education • Importance of financial education programs • Improving knowledge, attitude and behaviour • Pre- and post-tests • Long-term effects • Focus on attitude and behaviour • Case of Hungary

  9. TIME

  10. Conceptual framework

  11. Research method • Mixed method • Quantitative survey • Qualitative in-depth interviews • Interpretative approach • Paired sample → Outcome →Process

  12. Summary • Integrated research framework • Interdisciplinary approach • Mixed and interpretative method • Static and dynamic results

  13. Thank you very much for your time!

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