This study examines the role of financial socialization in low-income Hispanic households in order to determine if there was evidence of the transmission of values about behaviors such a saving and searching for the cheapest price from parent to child. This aim was achieved by generating measures for time and goods socialization and by making the assumption that when a parent and child share analogous financial attitudes, this provides evidence for the presence of financial socialization. A failure to match indicates otherwise. The empirical results from multinomial logit and probit models provide several cases that present evidence for the presence of financial socialization. Numerous noteworthy relationships are investigated including the impact of marriage, income, and educational attainments on the probability of generating a like-minded child. Using survey data on 8th grade students and their parents, the findings of the logit and probit models illustrate the impact of financial socialization while concurrently emphasizing the repercussions when not utilized.
|Commitee:||Bhattacharya, Radha, Mead, Robert|
|School:||California State University, Fullerton|
|School Location:||United States -- California|
|Source:||MAI 56/04M(E), Masters Abstracts International|
|Subjects:||Economics, Finance, Sociology|
|Keywords:||Children, Economics, Family, Finance, Hispanic, Socialization|
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