How parental love received in childhood affects consumers’ future financial discipline
Authors: Rajagopal Raghunathan, Zhiyong Yang, and Deepa Chandrasekaran
Overview
Abstract (English)
The quantity and quality of nurturance that a child receives from her parents has a significant effect on the child’s future psychological health. However, it is unclear whether early nurturance similarly impacts future financial well-being—an issue of growing global importance. This article examines the effects of “parental love” on the future financial well-being of children, using measures of financial discipline and income. We analyze longitudinal data involving 1,428 children through the National Longitudinal Survey of Children and Youth and document that the children in our sample who received higher levels of parental love during childhood are subsequently financially more disciplined and report earning higher incomes. Furthermore, we find that this association between early parental love and future financial well-being is mediated by the child’s emotional quotient. These findings are robust to the use of retrospective data from 398 consumers in the United States.
Abstract (French)
Please note that abstracts only appear in the language of the publication and might not have a translation.
Details
Type | Journal article |
---|---|
Author | Rajagopal Raghunathan, Zhiyong Yang, and Deepa Chandrasekaran |
Publication Year | 2020 |
Title | How parental love received in childhood affects consumers’ future financial discipline |
Volume | 5 |
Journal Name | Journal of the Association for Consumer Research |
Number | 3 |
Pages | 248-258 |
Publication Language | English |
- Rajagopal Raghunathan
- Rajagopal Raghunathan, Zhiyong Yang, and Deepa Chandrasekaran
- How parental love received in childhood affects consumers’ future financial discipline
- Journal of the Association for Consumer Research
- 5
- 2020
- 3
- 248-258