Differences on financial performance and life satisfaction in genders and university types of Chinese college students
Journal: Region - Educational Research and Reviews DOI: 10.32629/rerr.v4i4.1081
Abstract
Despite the strong interest in financial performance and well-being (life satisfaction), there is no consensus in the literature about differences on financial performance and life satisfaction of college students in genders and university types. A fundamental proposition is that individuals' financial performance and well-being are different from the performance of college students in developed countries. Yet there is little agreement as to the performance differences of college students in developed countries, and there is little research on the performance differences of college students in Chinese college students. On the basis of a survey of 1,233 undergraduates or postgraduates from 25 public higher education institutions offering degree programs in Guangxi of China, it was found that there were significant differences between genders for the sampled university students in regard to their composite scores in financial knowledge, financial capability, stock investment intention, entrepreneurial intention, house-purchasing intention, financial satisfaction and comfort, financial security, and life attitude. Moreover, there were also significant differences between genders for the sampled university students in regard to their composite scores in financial literacy, investment behavioral intention, financial well-being, and life satisfaction. Finally, a statistically significant difference was found among four types of Chinese college students in regard to composite scores on financial literacy, investment behavioral intention, financial well-being. The authors also discuss the research and managerial implications of these findings.
Keywords
differences; financial performance; life satisfaction; Chinese college students
Funding
This study has been funded by Youjiang Medical University for Nationalities. This paper is the result of the research on financial literacy education in Guangxi in 2022 in the 14th Five-year Plan of Educational Science of Guangxi . (NO. 2022ZJY2533).
Full Text
PDF - Viewed/Downloaded: 2 TimesIndexation
Download Index RecordReferences
[1]Hu，J.，Quan，L.，Wu，Y.，Zhu，J.，Deng，M.，Tang，S.，& Zhang，W. (2021). Financial Self-Efficacy and General Life Satisfaction: The Sequential Mediating Role of High Standards Tendency and Investment Satisfaction. Frontiers in Psychology，12，853.
[2]Huston，S.J. (2010). Measuring financial literacy，The Journal of Consumer Affairs，44 (2)，296-316.
[3]Remund，D.L. (2010). Financial literacy explicated: the case for a clearer definition in an increasingly complex economy，Journal of Consumer Affairs，44(2)，276-295.
[4]Xiao，J. J. (2008). Applying behavior theories to financial behavior. In Handbook of consumer finance research (pp. 69-81). Springer，New York，NY.
[5]Gutter，M.，& Copur，Z. (2011). Financial behaviors and financial well-being of college students: Evidence from a national survey. Journal of Family and Economic Issues，32(4)，699-714.
[6]Xiao，J. J.，Sorhaindo，B.，& Garman，E. T. (2006). Financial behavior of consumers in credit counseling. International Journal of Consumer Studies，30(2)，108–121.
[7]Brüggen，E.C.，Hogreve，J.，Holmlund，M.，Kabadayi，S. and Löfgren，M. (2017). Financial well-being: a conceptualization and research agenda，Journal of Business Research，79，228-237. https://doi.org/10.1016/j.jbusres.2017.03.013
[8]Lu，G.，Song，Y.，& Pan，B. (2021). How university entrepreneurship support affects college students’ entrepreneurial intentions An empirical analysis from China. Sustainability，13(6)，3224.
[9]Wang, Y., Lei, X., Long, R., & Zhao, J. (2020). Green credit, financial constraint, and capital investment: evidence from China’s energy-intensive enterprises. Environmental Management, 66(6), 1059-1071.
[10]Chen，C. (2019). Pension and health care: the impact of social insurance participation on social justice. Journal of the Huazhong Agricultural University，(02) : 38-45，164-165.
[11]Li，X.W.，Liu，T.Z.，Liu，X.，Zhang，H.B.. (2018). A study on the relationship among community participation，protective behavior and socioeconomic status. Chinese Journal of Safety Sciences，28(10) ，1-6.
[12]Bieda, A., Hirschfeld, G., Schönfeld, P., Brailovskaia, J., Lin, M., & Margraf, J. (2019). Happiness, life satisfaction and positive mental health: Investigating reciprocal effects over four years in a Chinese student sample. Journal of Research in Personality, 78, 198-209. https://doi.org/10.1016/j.jrp.2018.11.012
[13]Shim，S.，Xiao，J. J.，Barber，B. L.，& Lyons，A. C. (2009). Pathways to life success: A conceptual model of financial well-being for young adults. Journal of Applied Developmental Psychology， 30(6)，708-723. https://doi.org/10.1016/j.appdev.2009.02.003
[14]Douissa, I. B. (2020). Factors affecting College students’ multidimensional financial literacy in the Middle East. International review of economics education, 35, 100173. https://doi.org/10.1016/j.iree.2019.100173
[15]Muñoz-Murillo，M.，Álvarez-Franco，P. B.，& Restrepo-Tobón，D. A. (2020). The role of cognitive abilities on financial literacy: New experimental evidence. Journal of Behavioral and Experimental Economics， 84，101482.https://doi.org/10.1016/j.socec.2019.101482
[16]Lusardi, A., & Mitchell, O. S. (2011). Financial literacy and retirement planning in the United States. Journal of pension economics & finance, 10(4), 509-525.
[17]Agarwal, S., Gabaix, J. D. X., & Laibson, D. (2009). The Age of Reason: Financial Decisions over the Life-cycle with implications for Regulation. Brookings Papers on economic Activity, 2(1), 55-117.
[18]Niu, G., Zhou, Y., & Gan, H. (2020). Financial literacy and retirement preparation in China. Pacific-Basin Finance Journal, 59, 101262. https://doi.org/10.1016/j.pacfin.2020.101262
[2]Huston，S.J. (2010). Measuring financial literacy，The Journal of Consumer Affairs，44 (2)，296-316.
[3]Remund，D.L. (2010). Financial literacy explicated: the case for a clearer definition in an increasingly complex economy，Journal of Consumer Affairs，44(2)，276-295.
[4]Xiao，J. J. (2008). Applying behavior theories to financial behavior. In Handbook of consumer finance research (pp. 69-81). Springer，New York，NY.
[5]Gutter，M.，& Copur，Z. (2011). Financial behaviors and financial well-being of college students: Evidence from a national survey. Journal of Family and Economic Issues，32(4)，699-714.
[6]Xiao，J. J.，Sorhaindo，B.，& Garman，E. T. (2006). Financial behavior of consumers in credit counseling. International Journal of Consumer Studies，30(2)，108–121.
[7]Brüggen，E.C.，Hogreve，J.，Holmlund，M.，Kabadayi，S. and Löfgren，M. (2017). Financial well-being: a conceptualization and research agenda，Journal of Business Research，79，228-237. https://doi.org/10.1016/j.jbusres.2017.03.013
[8]Lu，G.，Song，Y.，& Pan，B. (2021). How university entrepreneurship support affects college students’ entrepreneurial intentions An empirical analysis from China. Sustainability，13(6)，3224.
[9]Wang, Y., Lei, X., Long, R., & Zhao, J. (2020). Green credit, financial constraint, and capital investment: evidence from China’s energy-intensive enterprises. Environmental Management, 66(6), 1059-1071.
[10]Chen，C. (2019). Pension and health care: the impact of social insurance participation on social justice. Journal of the Huazhong Agricultural University，(02) : 38-45，164-165.
[11]Li，X.W.，Liu，T.Z.，Liu，X.，Zhang，H.B.. (2018). A study on the relationship among community participation，protective behavior and socioeconomic status. Chinese Journal of Safety Sciences，28(10) ，1-6.
[12]Bieda, A., Hirschfeld, G., Schönfeld, P., Brailovskaia, J., Lin, M., & Margraf, J. (2019). Happiness, life satisfaction and positive mental health: Investigating reciprocal effects over four years in a Chinese student sample. Journal of Research in Personality, 78, 198-209. https://doi.org/10.1016/j.jrp.2018.11.012
[13]Shim，S.，Xiao，J. J.，Barber，B. L.，& Lyons，A. C. (2009). Pathways to life success: A conceptual model of financial well-being for young adults. Journal of Applied Developmental Psychology， 30(6)，708-723. https://doi.org/10.1016/j.appdev.2009.02.003
[14]Douissa, I. B. (2020). Factors affecting College students’ multidimensional financial literacy in the Middle East. International review of economics education, 35, 100173. https://doi.org/10.1016/j.iree.2019.100173
[15]Muñoz-Murillo，M.，Álvarez-Franco，P. B.，& Restrepo-Tobón，D. A. (2020). The role of cognitive abilities on financial literacy: New experimental evidence. Journal of Behavioral and Experimental Economics， 84，101482.https://doi.org/10.1016/j.socec.2019.101482
[16]Lusardi, A., & Mitchell, O. S. (2011). Financial literacy and retirement planning in the United States. Journal of pension economics & finance, 10(4), 509-525.
[17]Agarwal, S., Gabaix, J. D. X., & Laibson, D. (2009). The Age of Reason: Financial Decisions over the Life-cycle with implications for Regulation. Brookings Papers on economic Activity, 2(1), 55-117.
[18]Niu, G., Zhou, Y., & Gan, H. (2020). Financial literacy and retirement preparation in China. Pacific-Basin Finance Journal, 59, 101262. https://doi.org/10.1016/j.pacfin.2020.101262
Copyright © 2022 Mingshuang ZHUGE, Jie LI
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License