The purpose of the study is to assess the impact of a high school financial planning curriculum o... more The purpose of the study is to assess the impact of a high school financial planning curriculum on the financial knowledge, behavior, and self-efficacy of 4,107 teens nationally. Statistically significant changes were found in financial knowledge, behavior, and self-efficacy both immediately after studying the curriculum and three months after completing the curriculum. About half the teens had gains in knowledge, a third had gains in behavior, and 40 % increased their confidence in managing their money.
Grounded in Bourdieu’s social capital theory, the study’s purpose was to investigate social capit... more Grounded in Bourdieu’s social capital theory, the study’s purpose was to investigate social capital accessibility of intermarrieds compared to intramarrieds. Using the 2001 Integrated Health Interview Series data, two generalized linear models with Poisson distribution and identity link were performed: Model 1 compared intermarrieds to intramarrieds; Model 2 compared specific types of intermarrieds to intramarrrieds. Model 1 indicated that intermarrieds had less accessibility to social capital than intramarrieds. Model 2 indicated that intermarrieds, particularly interracially marrieds, had less social capital accessibility than intramarrieds, although the influence was moderate. Social capital accessibility of the interethnically or internationally marrieds was not significantly different from that of intramarrieds. Findings provide partial support to previous research concerning a lack of social capital accessibility for intermarrieds.
This study examined the effects of firm and family demands and resilience processes of adjustment... more This study examined the effects of firm and family demands and resilience processes of adjustment strategy patterns and coping capacity on firm owner role interference using the 1997 and 2000 waves of the National Family Business Panel. Sustainable Family Business Theory guided the study and hierarchical multiple regression was performed. Adjustment strategy patterns explained the greatest amount of role interference variance. The positive effect of hiring temporary help on role interference was revealed after introducing coping capacity into the regression model. The negative effect of family–business congruity on role interference indicated that family and firm systems function interdependently to overcome disruptions.
Using the family financial socialization theory, this study investigated the financial knowledge ... more Using the family financial socialization theory, this study investigated the financial knowledge and behavior of high school students' contextualizing unintentional and purposive family financial socialization. The sample of 4,473 high school students were 51% females, 45% seniors, and ethnically diverse. A path analysis tested conceptual relationships between variables. Results indicated that the two unintentional socialization indicators were positively associated with subjective financial knowledge and financial behavior. Those indicators were also indirectly associated with financial behavior through knowledge. Student-earned income, a purposive indicator of socialization, was positively associated with behavior through knowledge. Exclusively obtaining money through parents was negatively associated with behavior through knowledge. Knowledge was positively associated with behavior.
... by Sharon M. Danes , Ramona F. Oswald , Sylvia Arce de Esnaola. ... 1976; Scanzoni & Polo... more ... by Sharon M. Danes , Ramona F. Oswald , Sylvia Arce de Esnaola. ... 1976; Scanzoni & Polonko, 1980; Scanzoni & Szinovacz, 1980), when they began to use the organizing concepts of decision context and process (Danes, 1993; Danes & Rettig, 1993; Godwin & Scanzoni ...
Study investigates distal and proximal contextual influences of the American Indian culture that ... more Study investigates distal and proximal contextual influences of the American Indian culture that affect financial decisions and behaviors. Primary household financial managers were interviewed. Study was grounded in Deacon and Firebaugh’s Family Resource Management theory. Findings indicated that American Indians view many concepts differently than conventional disciplinary meanings. Most critical is that money is not the only currency used within the culture but relationships and nature are also used as other currencies. Further findings of note are (a) the cultural belief that resources must be shared with all family members is seen as an obligation and often creates major resource demands, (b) spirituality and nature are of major importance in resource decisions, and (c) the holistic, integrated view of health and well-being is essential to consider when working with American Indians on resource management. Three resource management patterns were discovered: mainstream, tradition...
The study investigates factors associated with the individual intentions to change the family fin... more The study investigates factors associated with the individual intentions to change the family financial situation of 337 farm respondents. The hypotheses are that intentions to change are influenced by (a) resource flexibility or constraints existing at the time of the decision situation, including off-farm employment, education, age, and household size, and (b) perceptual factors of perceived income adequacy, locus of
This chapter summarizes the literature at the intersection of family and business for households ... more This chapter summarizes the literature at the intersection of family and business for households owning a family business. While it may appear that these business-owning households earn higher income and accumulate more wealth, they face the challenges of managing the family/business interface. This chapter utilizes the Sustainable Family Business Theory (SFBT) to carefully assess how human, social, and financial capitals are used within the family business to support both the family and business. A special case is examined where SFBT is applied to couples starting a business.
International Handbook of Financial Literacy, 2016
Study’s purpose for this mixed method, longitudinal study was twofold: (a) to investigate how uti... more Study’s purpose for this mixed method, longitudinal study was twofold: (a) to investigate how utilizing a competency-based financial planning curriculum affects financial knowledge acquisition and behaviour change in the short-term considering students’ social environment (b) to examine what long-term financial behaviour patterns are exhibited over the year following the learning infusion as students make major life transitions. An integrated theoretical approach included Social Constructivism, Family Financial Socialization Theory and Theory of Planned Behaviour. Baseline knowledge, self-efficacy and behaviour data collected before the learning infusion was compared to end-of-study scores. Focus group interviews provided insight into precursors of behaviour change, such as attitudes, beliefs, perceived control and intentions. Four Internet interviews during the year following the learning infusion captured incentives and barriers of behaviour change over time. Findings included: 1) As a result of completion of the competency-based learning infusion, students developed a better foundation of financial knowledge and an understanding of the importance of healthy financial behaviours which significantly influenced their attitudes and intentions regarding healthy financial behaviours. 2) Family interactions and relationships affect students’ financial socialization at major turning points in life. 3) Students need to perceive a specific financial behaviour as relevant, desirable and feasible in their social environment, as well as perceive themselves as capable of such behaviour. (4) Social environment (e.g. SES, planning horizon) of students is a crucial factor in determining what kind of purposive financial socialization a student experiences and what long-term effect it has on the demonstration of healthy financial behaviours.
Introduction Relationships in family businesses are dynamic and interdependent because what occur... more Introduction Relationships in family businesses are dynamic and interdependent because what occurs in the family may have effects on the business and vice versa (Danes, Zuiker, Kean, & Arbuthnot, 1999; Marshack, 1998; Stafford, Duncan, Danes, & Winter, 1999). Furthermore, ...
Entrepreneurs have been traditionally epitomized as rugged individuals garnering creative forces ... more Entrepreneurs have been traditionally epitomized as rugged individuals garnering creative forces of innovation and technology. Applying this traditional, limited, and narrow view of entrepreneurship to ethnic firm creation and growth is to ignore or discount core cultural values of the ethnic contexts in which these firms operate. It is no longer possible to depend solely on human capital theory and household characteristic descriptions to understand the complex and interdependent relationships between the ethnic-owning family, its firm, and the community context in which the firm operates. This paper addresses the complex dynamic of ethnic firms with three purposes: (a) to provide a cultural context for the three ethnic groups composing the National Minority Business Owner Study; (b) to extend the Sustainable Family Business Theory, a dynamic, behaviorally-based, multi-dimensional family firm theory, by clarifying how it accommodates ethnic firm complexities within their cultural c...
... by Sharon M. Danes , Ramona F. Oswald , Sylvia Arce de Esnaola. ... 1976; Scanzoni & Polo... more ... by Sharon M. Danes , Ramona F. Oswald , Sylvia Arce de Esnaola. ... 1976; Scanzoni & Polonko, 1980; Scanzoni & Szinovacz, 1980), when they began to use the organizing concepts of decision context and process (Danes, 1993; Danes & Rettig, 1993; Godwin & Scanzoni ...
Using expectancy-value theory as a framework, we examined the independent effects of both early p... more Using expectancy-value theory as a framework, we examined the independent effects of both early parental and personal financial expectations and values on emerging adults’ later financial behaviors and financial well-being during the college-to-career transition. Data were collected at three time points over 8 years from a cohort of college-educated emerging adults ( N = 754 participants from a larger longitudinal study). The main finding showed that emerging adults’ personal expectations and values, but not parental values or expectations, predicted the financial behaviors they practiced in college; early parental expectations predicted financial well-being after leaving college. The financial behaviors practiced in college were associated with subsequent financial well-being. Finally, college financial behavior mediated the effect of early personal values on subsequent financial well-being, but not personal financial expectations. We discuss the findings in regard to facilitating ...
Http Dx Doi Org 10 1080 15434610600854244, Jan 25, 2007
The present study examined tensions generated by business issues for 187 family business-owning w... more The present study examined tensions generated by business issues for 187 family business-owning wives and husbands over a period of time. Family and business goal ranking identified the first priority goal of business owners (husbands) as positive reputation with customers and of wives (household managers) as good family relationships. The tension questions reflect the five conflict content areas of justice,
The purpose of the study is to assess the impact of a high school financial planning curriculum o... more The purpose of the study is to assess the impact of a high school financial planning curriculum on the financial knowledge, behavior, and self-efficacy of 4,107 teens nationally. Statistically significant changes were found in financial knowledge, behavior, and self-efficacy both immediately after studying the curriculum and three months after completing the curriculum. About half the teens had gains in knowledge, a third had gains in behavior, and 40 % increased their confidence in managing their money.
Grounded in Bourdieu’s social capital theory, the study’s purpose was to investigate social capit... more Grounded in Bourdieu’s social capital theory, the study’s purpose was to investigate social capital accessibility of intermarrieds compared to intramarrieds. Using the 2001 Integrated Health Interview Series data, two generalized linear models with Poisson distribution and identity link were performed: Model 1 compared intermarrieds to intramarrieds; Model 2 compared specific types of intermarrieds to intramarrrieds. Model 1 indicated that intermarrieds had less accessibility to social capital than intramarrieds. Model 2 indicated that intermarrieds, particularly interracially marrieds, had less social capital accessibility than intramarrieds, although the influence was moderate. Social capital accessibility of the interethnically or internationally marrieds was not significantly different from that of intramarrieds. Findings provide partial support to previous research concerning a lack of social capital accessibility for intermarrieds.
This study examined the effects of firm and family demands and resilience processes of adjustment... more This study examined the effects of firm and family demands and resilience processes of adjustment strategy patterns and coping capacity on firm owner role interference using the 1997 and 2000 waves of the National Family Business Panel. Sustainable Family Business Theory guided the study and hierarchical multiple regression was performed. Adjustment strategy patterns explained the greatest amount of role interference variance. The positive effect of hiring temporary help on role interference was revealed after introducing coping capacity into the regression model. The negative effect of family–business congruity on role interference indicated that family and firm systems function interdependently to overcome disruptions.
Using the family financial socialization theory, this study investigated the financial knowledge ... more Using the family financial socialization theory, this study investigated the financial knowledge and behavior of high school students' contextualizing unintentional and purposive family financial socialization. The sample of 4,473 high school students were 51% females, 45% seniors, and ethnically diverse. A path analysis tested conceptual relationships between variables. Results indicated that the two unintentional socialization indicators were positively associated with subjective financial knowledge and financial behavior. Those indicators were also indirectly associated with financial behavior through knowledge. Student-earned income, a purposive indicator of socialization, was positively associated with behavior through knowledge. Exclusively obtaining money through parents was negatively associated with behavior through knowledge. Knowledge was positively associated with behavior.
... by Sharon M. Danes , Ramona F. Oswald , Sylvia Arce de Esnaola. ... 1976; Scanzoni & Polo... more ... by Sharon M. Danes , Ramona F. Oswald , Sylvia Arce de Esnaola. ... 1976; Scanzoni & Polonko, 1980; Scanzoni & Szinovacz, 1980), when they began to use the organizing concepts of decision context and process (Danes, 1993; Danes & Rettig, 1993; Godwin & Scanzoni ...
Study investigates distal and proximal contextual influences of the American Indian culture that ... more Study investigates distal and proximal contextual influences of the American Indian culture that affect financial decisions and behaviors. Primary household financial managers were interviewed. Study was grounded in Deacon and Firebaugh’s Family Resource Management theory. Findings indicated that American Indians view many concepts differently than conventional disciplinary meanings. Most critical is that money is not the only currency used within the culture but relationships and nature are also used as other currencies. Further findings of note are (a) the cultural belief that resources must be shared with all family members is seen as an obligation and often creates major resource demands, (b) spirituality and nature are of major importance in resource decisions, and (c) the holistic, integrated view of health and well-being is essential to consider when working with American Indians on resource management. Three resource management patterns were discovered: mainstream, tradition...
The study investigates factors associated with the individual intentions to change the family fin... more The study investigates factors associated with the individual intentions to change the family financial situation of 337 farm respondents. The hypotheses are that intentions to change are influenced by (a) resource flexibility or constraints existing at the time of the decision situation, including off-farm employment, education, age, and household size, and (b) perceptual factors of perceived income adequacy, locus of
This chapter summarizes the literature at the intersection of family and business for households ... more This chapter summarizes the literature at the intersection of family and business for households owning a family business. While it may appear that these business-owning households earn higher income and accumulate more wealth, they face the challenges of managing the family/business interface. This chapter utilizes the Sustainable Family Business Theory (SFBT) to carefully assess how human, social, and financial capitals are used within the family business to support both the family and business. A special case is examined where SFBT is applied to couples starting a business.
International Handbook of Financial Literacy, 2016
Study’s purpose for this mixed method, longitudinal study was twofold: (a) to investigate how uti... more Study’s purpose for this mixed method, longitudinal study was twofold: (a) to investigate how utilizing a competency-based financial planning curriculum affects financial knowledge acquisition and behaviour change in the short-term considering students’ social environment (b) to examine what long-term financial behaviour patterns are exhibited over the year following the learning infusion as students make major life transitions. An integrated theoretical approach included Social Constructivism, Family Financial Socialization Theory and Theory of Planned Behaviour. Baseline knowledge, self-efficacy and behaviour data collected before the learning infusion was compared to end-of-study scores. Focus group interviews provided insight into precursors of behaviour change, such as attitudes, beliefs, perceived control and intentions. Four Internet interviews during the year following the learning infusion captured incentives and barriers of behaviour change over time. Findings included: 1) As a result of completion of the competency-based learning infusion, students developed a better foundation of financial knowledge and an understanding of the importance of healthy financial behaviours which significantly influenced their attitudes and intentions regarding healthy financial behaviours. 2) Family interactions and relationships affect students’ financial socialization at major turning points in life. 3) Students need to perceive a specific financial behaviour as relevant, desirable and feasible in their social environment, as well as perceive themselves as capable of such behaviour. (4) Social environment (e.g. SES, planning horizon) of students is a crucial factor in determining what kind of purposive financial socialization a student experiences and what long-term effect it has on the demonstration of healthy financial behaviours.
Introduction Relationships in family businesses are dynamic and interdependent because what occur... more Introduction Relationships in family businesses are dynamic and interdependent because what occurs in the family may have effects on the business and vice versa (Danes, Zuiker, Kean, & Arbuthnot, 1999; Marshack, 1998; Stafford, Duncan, Danes, & Winter, 1999). Furthermore, ...
Entrepreneurs have been traditionally epitomized as rugged individuals garnering creative forces ... more Entrepreneurs have been traditionally epitomized as rugged individuals garnering creative forces of innovation and technology. Applying this traditional, limited, and narrow view of entrepreneurship to ethnic firm creation and growth is to ignore or discount core cultural values of the ethnic contexts in which these firms operate. It is no longer possible to depend solely on human capital theory and household characteristic descriptions to understand the complex and interdependent relationships between the ethnic-owning family, its firm, and the community context in which the firm operates. This paper addresses the complex dynamic of ethnic firms with three purposes: (a) to provide a cultural context for the three ethnic groups composing the National Minority Business Owner Study; (b) to extend the Sustainable Family Business Theory, a dynamic, behaviorally-based, multi-dimensional family firm theory, by clarifying how it accommodates ethnic firm complexities within their cultural c...
... by Sharon M. Danes , Ramona F. Oswald , Sylvia Arce de Esnaola. ... 1976; Scanzoni & Polo... more ... by Sharon M. Danes , Ramona F. Oswald , Sylvia Arce de Esnaola. ... 1976; Scanzoni & Polonko, 1980; Scanzoni & Szinovacz, 1980), when they began to use the organizing concepts of decision context and process (Danes, 1993; Danes & Rettig, 1993; Godwin & Scanzoni ...
Using expectancy-value theory as a framework, we examined the independent effects of both early p... more Using expectancy-value theory as a framework, we examined the independent effects of both early parental and personal financial expectations and values on emerging adults’ later financial behaviors and financial well-being during the college-to-career transition. Data were collected at three time points over 8 years from a cohort of college-educated emerging adults ( N = 754 participants from a larger longitudinal study). The main finding showed that emerging adults’ personal expectations and values, but not parental values or expectations, predicted the financial behaviors they practiced in college; early parental expectations predicted financial well-being after leaving college. The financial behaviors practiced in college were associated with subsequent financial well-being. Finally, college financial behavior mediated the effect of early personal values on subsequent financial well-being, but not personal financial expectations. We discuss the findings in regard to facilitating ...
Http Dx Doi Org 10 1080 15434610600854244, Jan 25, 2007
The present study examined tensions generated by business issues for 187 family business-owning w... more The present study examined tensions generated by business issues for 187 family business-owning wives and husbands over a period of time. Family and business goal ranking identified the first priority goal of business owners (husbands) as positive reputation with customers and of wives (household managers) as good family relationships. The tension questions reflect the five conflict content areas of justice,
Uploads