ISSN: 2222-6990
Open access
While the Latino/Hispanic segment of US population has garnered the most attention from the practice and research of financial services marketers, the Asian and Pacific Islanders segment has received less attention. The Asian and Pacific Islanders is among the fastest growing segment of our population and this study focuses on this group to start a fruitful research theme. In today’s diverse and fast changing world, financial advisors must consider the impact of origin and culture on whether—and how—consumers choose to take advantage of their services. In order to serve these clients well, financial advisors need to know where these clients come from and the implication that has for services offered. The purpose of this study is to identify the financial traits and attitudes of Chinese-Americans, including attitudes toward risk, savings, asset allocation, international investment, and the need for financial advisors. Our research sets the stage for future empirical investigations that will enrich the understanding of academics and practitioners alike.
Braunstein, S., & Carolyn, W. (2002). Financial Literacy: An Overview of Practice, Research, and Policy. Federal Reserve Bulletin, 88.11 (November), 445-457
Calcagno, R., & Monticone, C. (2015). Financial literacy and the demand for financial advice. Journal of Banking & Finance, 50, 363-380.
Cateora, P. R., Gilly, M. C., & Graham, J. L. (2013). International marketing, 16th edition. McGraw-Hill Irwin, c2013.
Chen, H, & Volpe, P. (2002). Gender Differences in Personal Financial Literacy among College Students. Financial Services Review, 11, 289–307.
Chen, H., Wang, Y., Yang, S., & Yuan, H. (2014). Empirical Research on Shanghai Residents’ Financial Literacy. International Journal of Financial Research, 5(1), 101–106.
Cole, S., Paulson, A., & Shastry, G. K. (2014). Smart Money? The Effect of Education on Financial Outcomes. Review Of Financial Studies, 27(7), 2022
Cole, S. A., Sampson, T. A., & Zia, B. H. (2009). Financial literacy, financial decisions, and the demand for financial services: evidence from India and Indonesia. Harvard Business School Working Paper 09-117.
Cole, S., Sampson, T., & Zia, B. (2011). Prices or Knowledge? What Drives Demand for Financial Services in Emerging Markets? The Journal of Finance, (6), 1933.
Costa, P. J., & McCrae, R. R. (1988). Personality in adulthood: a six-year longitudinal study of self-reports and spouse ratings on the NEO Personality Inventory. Journal of Personality and Social Psychology, 54(5), 853-863.
Costa, P. J., & McCrae, R. R. (1992). Four ways five factors are basic. Personality and Individual Differences, 13, 653-665.
Costa, P. J., McCrae, R. R., & Dye, D.A. (1991), Facet scales for agreeableness and conscientiousness: A revision of the NEO. Personality Inventory, Personality and Individual Differences, 12, 887-898.
De Mooij, M. (2010). Global marketing and advertising: Understanding cultural paradoxes. 3rd ed. Thousand Oaks, CA: Sage.
De Mooij, M., & Hofstede, G. (2011), Cross-Cultural Consumer Behavior: A Review of Research Findings. Journal of International Consumer Marketing, 23,181–192.
De Mooij, M. (2004). Consumer behavior and culture: Consequences for global marketing and advertising. Thousand Oaks, CA: Sage.
Fan, J. X., & Xiao, J. J. (2006). Cross-cultural differences in risk tolerance: A comparison between Chinese and Americans. Journal of Personal Finance, 5(3), 54-75.
Financial Literacy.(n.d.) In National Financial Educators Council (NFEC) Online. Retrieved from https://www.financialeducatorscouncil.org/financial-literacy-definition/
Fox, J., Bartholomae, S., & Lee, J. (2005) Building the Case for Financial Education. Journal of Consumer Affairs, 39 (summer), 195–214.
Goldberg, L. R. (1990). An alternative "description of personality": the big-five factor structure. Journal Of Personality And Social Psychology, 59(6), 1216-1229.
Hofstede, G. (2001), Culture’s consequences. 2nd ed. Thousand Oaks, CA: Sage.
Hong, G. S., & Kao, Y. E. (1997). Emergency fund adequacy of Asian Americans. Journal of Family and Economic Issues, 18(2), 127-145.
Huston, S. J. (2010). Measuring Financial Literacy. Journal of Consumer Affairs, 44(2), 296-316.
Jappelli, T., & Padula, M. (2013). Investment in financial literacy and saving decisions. Journal of Banking and Finance, 37(8), 2779-2792.
Judge, T. A., Higgins, C. A., Thoresen, C. J., & Barrick, M. R. (1999), The big five personality traits, general mental ability, and career success across the life span, Personnel Psychology,52, (3).
Koenig, L. (2007). Financial Literacy Curriculum: The Effect on Offender Money Management Skills. Journal of Correctional Education, 58 (1), 43–56.
Kwon, H. K., Zuiker, V. S., & Bauer, J. W. (2004). Factors associated with the poverty status of Asian immigrant householders by citizenship status. Journal of Family and Economic Issues, 25(1), 101-120.
Lusardi, A., & Mitchelli, O. (2007). Financial literacy and retirement prepa
N/A
Copyright: © 2018 The Author(s)
Published by Human Resource Management Academic Research Society (www.hrmars.com)
This article is published under the Creative Commons Attribution (CC BY 4.0) license. Anyone may reproduce, distribute, translate and create derivative works of this article (for both commercial and non-commercial purposes), subject to full attribution to the original publication and authors. The full terms of this license may be seen at: http://creativecommons.org/licences/by/4.0/legalcode