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Author: Sharp, Bobby H.
Resulting in 1 citation.
1. Sharp, Bobby H.
Perception of Financial Progress and Family Saving, Debt, and Labor Force Behavior
Ph.D. Dissertation, Virginia Polytechnic Institute and State University, 1980
Cohort(s): Older Men
Publisher: UMI - University Microfilms, Bell and Howell Information and Learning
Keyword(s): Assets; Family Income; Labor Force Participation

This study was designed to investigate the association between an attitudinal variable, perceived financial progress, and subsequent family saving, debt, and labor force behavior. Objectives were to compare saving, debt, and labor force behavior during 1969-1971 for families expressing different feelings of financial progress prior to 1969, and to assess the contribution of the attitudinal variable along with economic and demographic variables in explaining subsequent saving, debt, and labor force behavior. Data for this investigation were derived from the NLS Older Men cohort. Consistent with prior research and objectives of this study, five multiple regression models were hypothesized, with liquid saving during 1969-1971, short term debt incurrence during 1969-1971, total debt incurrence during 1969-1971, hours worked overtime or at other jobs by respondents in 1971, and hours worked by respondents' wives in 1971 representing criterion variables. Predictor variables for the models included economic and demographic variables as well as perceived financial progress as an attitudinal variable. Effects of predictors on criterion variables were determined through ordinary least squares regression analysis. Including the attitudinal variable in the regression models along with economic or demographic variables was not found to contribute significantly (alpha) = .05) to the explanation of variance in any of the criterion variables. This occurred whether the dummy variables representing perceived financial progress were entered separately or together. Almost all of the explained variance in saving and debt behavior was due to economic variables (e.g., income level, net family assets, or the behavior lagged one period). Variance in labor force behavior was explained predominantly by variables representing monetary incentives, human capital, and enduring behavior overtime. Evidence from this investigation did not support the theoretical model that economic behavior can best be understood by relating it to the way in which families subjectively view their objective economic environments (e.g., income and asset levels). Instead, the results of this study indicate that objective economic environments and their changes, along with enduring family economic behavior, also have direct effects on the economic behavior of families.
Bibliography Citation
Sharp, Bobby H. Perception of Financial Progress and Family Saving, Debt, and Labor Force Behavior. Ph.D. Dissertation, Virginia Polytechnic Institute and State University, 1980.