Explaining financial management behavior for koreans living in the united states

John E. Grable, Joo Yung Park, So Hyun Joo

Research output: Contribution to journalArticlepeer-review

39 Scopus citations

Abstract

Using a cross-cultural conceptualization with a targeted sample of Americans and Koreans, it was noted that Koreans exhibited more responsible financial management behavior than Americans after controlling for locus of control, financial knowledge, and income interactions. Overall, financial knowledge was positively related to responsible financial behavior. No direct effects on financial management behavior were noted for locus of control or household income. Locus of control was found to mediate the effect of financial knowledge on financial behavior for Koreans. Being Korean did moderate between financial knowledge and financial behavior.

Original languageEnglish
Pages (from-to)80-107
Number of pages28
JournalJournal of Consumer Affairs
Volume43
Issue number1
DOIs
StatePublished - Mar 2009

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