Marketing Seminar（2017-14）

Title: Consumer Financial Capability and Wellbeing

Speaker: Jingjian Xiao, University of Rhode Island

Time: Wednesday, May 24, 15:00-16:30

Place: Room 217, Guanghua Building 2

Abstract

This study is to investigate roles of financial literacy, financial behavior, and financial capability as mediating factors between financial education and financial satisfaction. The data is from the 2012 National Financial Capability Study, a large national dataset with detailed information on financial satisfaction, education, literacy, behavior, capability, and related variables. Mediation analyses are used to answer research questions. Financial education may affect financial satisfaction, a subjective measure of financial wellbeing, through financial literacy, financial behavior, and financial capability variables. Results show that subjective financial literacy, desirable financial behavior, and a financial capability index (a sum of Z scores of objective financial literacy, subjective financial literacy, desirable financial behavior, and perceived financial capability) are strong mediators bet-ween financial education and financial satisfaction. The findings have implications for financial service professionals to take advantages of multiple benefits of financial education in content acquisition, confidence in knowledge and ability, and action taking when they communicate with their clients. Policymakers in consumer financial education may use the information to advocate and promote effective education programs to improve consumer financial wellbeing. This study is the first of this kind to examine the association between financial education and financial satisfaction and several financial capability variables as mediating factors.

Introduction

肖经建博士是美国罗德岛大学人生发展和家庭研究系消费金融方向教授，讲授消费经济学,消费者保护,以及消费金融等课程，从事消费者行为和消费者理财方面的研究。他出版了《消费者经济福利》,《个人金融数学》和《消费金融研究手册》等著作。他目前是金融咨询和规划教育学会官方刊物《金融咨询和规划杂志》的主编，他还在主编一套《消费者科学国际丛书》。他曾担任美国消费者权益学会会长，亚洲消费者和家庭经济学会会长，是美国消费者联盟理事会成员。他也曾担任由美国财政部和美国全国金融教育基金会等部门主办的金融知识教育项目的顾问和演讲嘉宾。他被邀请在中国，日本，韩国,马来西亚,台湾，香港和其他国家和地区做关于消费者行为研究的演讲。他本科和硕士就读于中南财经政法大学，在美国俄勒冈州立大学获消费经济学博士学位。

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