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Author: Park, Heejung
Resulting in 2 citations.
1. Park, Heejung
Financial Behavior among Young Adult Consumers: The Influence of Self-determination and Financial Psychology
Young Consumers published online (20 May 2021): DOI:10.1108/YC-12-2020-1263.
Also: https://www.emerald.com/insight/content/doi/10.1108/YC-12-2020-1263/full/html
Cohort(s): NLSY97
Publisher: Emerald
Keyword(s): Debt/Borrowing; Financial Behaviors/Decisions; Motivation

Permission to reprint the abstract has not been received from the publisher.

Purpose: In the uncertainty of the global economy, many young adults have financial independence from their parents and are making financial decisions in a difficult financial environment. This study aims to focus on debt management behavior for young adult consumers.

Design/methodology/approach: The data is from the 2010 National Longitudinal Survey of Youth 1997 (NLSY97). The NLSY97 includes information on US young consumers' financial, demographic and attitudinal characteristics, as well as various socio-economic conditions, making it convenient to explore the relationships between financial behavior and psychology variables. In the 2010 survey, 4,110 young consumers were interviewed.

Findings: The results show that self-determination and motivation alone cannot bring about a direct change in financial behavior without the mediation of financial psychology. Therefore, consumer finance research should consider debt-management behavior by presenting different strategies than those currently used.

Bibliography Citation
Park, Heejung. "Financial Behavior among Young Adult Consumers: The Influence of Self-determination and Financial Psychology." Young Consumers published online (20 May 2021): DOI:10.1108/YC-12-2020-1263.
2. Song, Jung "Anna"
Park, Heejung
Park, Narang
Heo, Wookjae
The Effect of Experiencing a Death on Life Insurance Ownership
Journal of Behavioral and Experimental Finance 22 (June 2019): 170-176.
Also: https://www.sciencedirect.com/science/article/pii/S2214635018302314
Cohort(s): NLSY79
Publisher: Elsevier
Keyword(s): Insurance; Trauma/Death in family

Though there is a huge literature on the demand for life insurance, it heavily focuses on demographic and economic factors. This study fills the gap in the current literature by incorporating psychological factor such as an experiencing a death in family members. The goal of this paper is to investigate the effect of death experience on life insurance ownership. Using a data from National Longitudinal Survey of Youth, we find evidence that there is positive association between a death experience and life insurance demand. Also, the model is better explained when both situational and dispositional factors are jointly examined.
Bibliography Citation
Song, Jung "Anna", Heejung Park, Narang Park and Wookjae Heo. "The Effect of Experiencing a Death on Life Insurance Ownership." Journal of Behavioral and Experimental Finance 22 (June 2019): 170-176.