Year: 2024
Type: article
Abstract: This study applied communication privacy management (CPM) theory to develop a new measure of financial privacy, encompassing three dimensions of ownership, permeability, and linkages. The exploratory factor analysis was based on a pilot survey of 371 U.S. college students. The development of this scale was motivated by previous research establishing links between financial literacy, financial socialization, and family communication patterns to suggest the importance of understanding and measuring the role of communication and privacy in the transmission of financial knowledge. Therefore, correlations are also presented between the new measure of financial privacy and measures of financial knowledge, confidence, and experience. The financial privacy scale attained adequate validity and reliability to encourage further refinement and utilization in future theoretical and practical research related to family financial socialization.
DOI: 10.3390/ijfs12040116
Authors: Thomas A. Hanson, Andrew J. Byrd
Institution: Butler University
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $2,046
OpenAlex ID: W4404584142