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The effects of ethnicity, gender and parental financial knowledge socialisation on financial knowledge among Gen Z: the case of Sarawak, Malaysia

Abstract Purpose – The purpose of this paper is to examine the relationship between financial socialisation experiences, socio-economic factors, demographic characteristics and the financial knowledge of first year undergraduate students. Design/methodology/approach – Using a questionnaire, data...

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Main Authors: Lynn Min Wee, Ling, Siew Ching, Goy
Format: Article
Language:English
Published: Emerald Publishing Limited 2022
Subjects:
H Social Sciences (General)
Online Access:http://ir.unimas.my/id/eprint/40460/1/The%20effects%20of%20ethnicity%2C%20gender%20and-1.pdf
http://ir.unimas.my/id/eprint/40460/
https://www.emerald.com/insight/content/doi/10.1108/IJSE-02-2021-0114/full/html
https://doi.org/10.1108/IJSE-02-2021-0114
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spelling my.unimas.ir.404602022-11-15T06:15:41Z http://ir.unimas.my/id/eprint/40460/ The effects of ethnicity, gender and parental financial knowledge socialisation on financial knowledge among Gen Z: the case of Sarawak, Malaysia Lynn Min Wee, Ling Siew Ching, Goy H Social Sciences (General) Abstract Purpose – The purpose of this paper is to examine the relationship between financial socialisation experiences, socio-economic factors, demographic characteristics and the financial knowledge of first year undergraduate students. Design/methodology/approach – Using a questionnaire, data were collected from a sample of 450 first year university students from both private and public universities. A multivariate regression method was adopted to examine the influence of financial socialisation among respondents of different ethnic groups and their social backgrounds on the individual’s financial knowledge. Findings – The findings indicate that: firstly, financial knowledge is low among first-year university students in Sarawak. Secondly, male respondents outperform female counterparts in terms of financial knowledge. Thirdly, parental financial socialisation remains the main source of financial knowledge among the students. Fourthly, there are significant differences in financial knowledge across ethnic groups. Research limitations/implications – It is paramount to implement financial education programmes to elevate the financial literacy for both youth and parents since parents remain the primary source of financial socialisation for young adults. Practical implications – The study suggests that financial knowledge varies according to gender and ethnicity. Hence, financial education programmes should be designed to accommodate the differences between groups based on ethnicity and gender to achieve the best outcome. Originality/value – This is the first study that draws a representative sample of university students in Sarawak that examines the effects of ethnicity, gender and parental financial socialisation on financial knowledge among first year university students. Keywords Malaysia, University students, Financial knowledge, Sarawak, Ethnic differences, Financial socialisation Emerald Publishing Limited 2022-03-25 Article PeerReviewed text en http://ir.unimas.my/id/eprint/40460/1/The%20effects%20of%20ethnicity%2C%20gender%20and-1.pdf Lynn Min Wee, Ling and Siew Ching, Goy (2022) The effects of ethnicity, gender and parental financial knowledge socialisation on financial knowledge among Gen Z: the case of Sarawak, Malaysia. International Journal of Social Economics, 49 (9). pp. 1349-1367. ISSN 0306-8293 https://www.emerald.com/insight/content/doi/10.1108/IJSE-02-2021-0114/full/html https://doi.org/10.1108/IJSE-02-2021-0114
institution Universiti Malaysia Sarawak
building Centre for Academic Information Services (CAIS)
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Malaysia Sarawak
content_source UNIMAS Institutional Repository
url_provider http://ir.unimas.my/
language English
topic H Social Sciences (General)
spellingShingle H Social Sciences (General)
Lynn Min Wee, Ling
Siew Ching, Goy
The effects of ethnicity, gender and parental financial knowledge socialisation on financial knowledge among Gen Z: the case of Sarawak, Malaysia
description Abstract Purpose – The purpose of this paper is to examine the relationship between financial socialisation experiences, socio-economic factors, demographic characteristics and the financial knowledge of first year undergraduate students. Design/methodology/approach – Using a questionnaire, data were collected from a sample of 450 first year university students from both private and public universities. A multivariate regression method was adopted to examine the influence of financial socialisation among respondents of different ethnic groups and their social backgrounds on the individual’s financial knowledge. Findings – The findings indicate that: firstly, financial knowledge is low among first-year university students in Sarawak. Secondly, male respondents outperform female counterparts in terms of financial knowledge. Thirdly, parental financial socialisation remains the main source of financial knowledge among the students. Fourthly, there are significant differences in financial knowledge across ethnic groups. Research limitations/implications – It is paramount to implement financial education programmes to elevate the financial literacy for both youth and parents since parents remain the primary source of financial socialisation for young adults. Practical implications – The study suggests that financial knowledge varies according to gender and ethnicity. Hence, financial education programmes should be designed to accommodate the differences between groups based on ethnicity and gender to achieve the best outcome. Originality/value – This is the first study that draws a representative sample of university students in Sarawak that examines the effects of ethnicity, gender and parental financial socialisation on financial knowledge among first year university students. Keywords Malaysia, University students, Financial knowledge, Sarawak, Ethnic differences, Financial socialisation
format Article
author Lynn Min Wee, Ling
Siew Ching, Goy
author_facet Lynn Min Wee, Ling
Siew Ching, Goy
author_sort Lynn Min Wee, Ling
title The effects of ethnicity, gender and parental financial knowledge socialisation on financial knowledge among Gen Z: the case of Sarawak, Malaysia
title_short The effects of ethnicity, gender and parental financial knowledge socialisation on financial knowledge among Gen Z: the case of Sarawak, Malaysia
title_full The effects of ethnicity, gender and parental financial knowledge socialisation on financial knowledge among Gen Z: the case of Sarawak, Malaysia
title_fullStr The effects of ethnicity, gender and parental financial knowledge socialisation on financial knowledge among Gen Z: the case of Sarawak, Malaysia
title_full_unstemmed The effects of ethnicity, gender and parental financial knowledge socialisation on financial knowledge among Gen Z: the case of Sarawak, Malaysia
title_sort effects of ethnicity, gender and parental financial knowledge socialisation on financial knowledge among gen z: the case of sarawak, malaysia
publisher Emerald Publishing Limited
publishDate 2022
url http://ir.unimas.my/id/eprint/40460/1/The%20effects%20of%20ethnicity%2C%20gender%20and-1.pdf
http://ir.unimas.my/id/eprint/40460/
https://www.emerald.com/insight/content/doi/10.1108/IJSE-02-2021-0114/full/html
https://doi.org/10.1108/IJSE-02-2021-0114
_version_ 1751540618065084416
score 13.211869

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