• International Journal of Human Ecology
• /
• v.9 no.2
• /
• pp.77-92
• /
• 2008

This study investigates the characteristics of young debtors at risk of repayment problems. A cumulative logistic model is used in order to examine the effects of explanatory variables on the probability for young adults to pay off debt obligations. The following conclusions can be drawn from the results. First, the high indebtedness of young debtors increases the probability of payment delinquency whereas high income by young debtors decreases the probability. Second, financial emergencies that young debtors experienced and payment delinquency are positively related. Finally, financial resources for emergency needs reduced the probability of being delinquency on payment of household debt.

• International Journal of Human Ecology
• /
• v.15 no.2
• /
• pp.59-67
• /
• 2014

Consumer information influences purchasing behavior; however, less is known about the relationship in the credit market. Credit markets offer consumers a complex array of different products when choosing mortgages. The current study examines whether borrowers search for the very best terms when making major decisions about borrowing money or obtaining credit as well as explores the relation between consumer information seeking and the cost of credit. This study demonstrates the existence of price dispersion between those who made an extensive information seeking and those who did not. When controlling for the proxies of creditworthiness and demographics of the respondents, it is found that those who made a great deal of information seeking tend to have lower mortgage rates than those who made almost no information seeking. This study offers financial educators and policy makers suggestions on how to help consumers make better financial decisions.

• International Journal of Human Ecology
• /
• v.17 no.1
• /
• pp.1-14
• /
• 2016

This paper presents a series of path models that were developed to test whether financial risk tolerance mediates the association between the following four variables and investing behavior: (a) male and married, (b) female and married, (c) male and single, or (d) female and single. Data for this study were obtained from a proprietary consumer survey of risk-tolerance attitudes. Four path models were developed to test relationships among the variables in 2008, 2009, 2010, and 2011. These years were chosen to represent the depth and recovery periods in the Great Recession. The total number of respondents was 29,641. Findings showed that financial risk tolerance was positively associated with risky investing behavior (i.e., equity ownership) in each of the four periods. The associations among the gender-marital status variables and investing behavior were mixed; however, findings did indicate that risk tolerance mediates these relationships by sometimes amplifying and occasionally attenuating risky behavior. Based on the findings, implications and limitation are presented.

• International Journal of Human Ecology
• /
• v.5 no.1
• /
• pp.23-34
• /
• 2004

This paper outlines the findings of a consumer survey conducted in 1996 and 2001 by the University of Bonn, Germany, across 15 European countries. The survey involved a sample of 3,300 respondents in 1996 and around 11,000 respondents in 2001, throughout all 15 EU countries. Children and adolescents between the ages of 10 and 17 were surveyed on their consumption habits and their attitudes towards the environment. The paper outlines the key findings on "the process of socialization with money". Children come to appreciate the importance of money even before their first day at school. Even young children know you sometimes need cash to fulfil dreams. But the chance to experiment with money for real only comes when children first receive pocket money, usually from their parents. Later, in adolescence, consumer pressure starts to make an impact and it becomes more difficult to make ends meet. Spare time or holiday jobs help top up pocket money and enable adolescents to keep out of debt. This paper reports on a long term comparative study throughout the European Union among children and adolescents, analysed by country, age group and gender. The paper discusses the places young consumers can turn to in trying to fulfil their growing consumer needs. It also examines how much money is at their disposal. It then concludes by considering the influence of "financial socialization" on how young people deal with money.

• Journal of Korean Society for Quality Management
• /
• v.50 no.1
• /
• pp.43-61
• /
• 2022

Purpose: The purpose of this study was verifying factors that affect to intention to use AI financial services and finding a way of building an user oriented AI ecology. Methods: This study used the UTAUT (Unified Theory of Acceptance and Use of Technology) model with independent variables such as performance expectancy, effort expectancy, social influence, facilitating conditions, trust, personal innovativeness and AI understanding as moderating variable. The data was collected through online & offline survey with questionnaire from 330 financial customers. Results: As a result, the analysis suggested that the performance expectancy, social influence, facilitating conditions, personal innovativeness are statistically significant to the intention to use AI. It was also found that AI knowledge of users differently influence the intention to use through the moderating effect on the facilitating conditions. Conclusion: Performance expectancy, social influence, facilitating conditions, personal innovativeness have positive causation to the intention to use in AI financial service. On the facilitating conditions, unlike other variables, it was found that the user's intention to use was different by the level of AI understanding. It means that customers could have the strong intention to use AI even though they don't have enough pieces of knowledge on the factors. Customers seem to be of recognition that the technology has certain benefits for themselves. The facilitating factors are significantly affected by AI understanding and differently effect on the intention to use AI.

• Korean Journal of Human Ecology
• /
• v.8 no.1
• /
• pp.45-62
• /
• 1999

The purpose of this study was to investigate the money management behavior of adolescents and to examine the demographic variables and consumer behaviors which influence the money management. The subjects were 347 high school students in Chonju, Korea. The main results were as follows; 1) The mean score of the money management behavior of adolescents were 3.06. Among the variables, evaluating showed the highest score, and implementing was the second highest score. 2) The significant variables which influence the money management for adolescents were application of the information sources, sex, reference group, participation of the financial decision-making for the family, number of the siblings, tendency for materialism.

• Korean Journal of Human Ecology
• /
• v.9 no.1
• /
• pp.21-32
• /
• 2000

This study investigated the effect of householder's occupation on the debt structures of households. Household debts were categorized into six types according to borrowing sources: debts from banks, other financial institutes, employers, private sources, Gye, and retailers. Householder's occupations were classified into four groups: full-time employees, employers, farmers & fishermen, and part-time employees. The data came from the 1996 Korean Household Panel Study. It was found that the rates of holding each types of debt and the debt amounts were different according to householder's occupation. The human and economic resources to overcome the possible household debt problems were also different by the householder's occupation.

• Korean Journal of Human Ecology
• /
• v.18 no.1
• /
• pp.93-112
• /
• 2009

The purpose of this study is to identify stresses and adjustment elements of Chinese students in Korea. The data analysis was conducted by qualitative method based on interviews with sixteen Chinese students as a focus group by the help of two interpreters. The results were as follows: first, stresses of Chinese students were from 'cultural difference', 'language', and 'financial', 'educational' and 'psychological stress', and 'university culture in Korea'. Those categories were divided into several sub categories. Second, ten helpful elements Chinese students could adapt themselves to Korean university life were such as 'Help of Korean professor and friends', 'Chinese friends' help', 'English-oriented lecture', 'Cultural affinity to Korea', 'Fluency in Korean language', 'Integration to Korean culture', 'Pride in Chinese culture', 'Individual effort', 'Satisfaction with educational environment', 'Perception of self-growth'.

• Korean Journal of Human Ecology
• /
• v.21 no.1
• /
• pp.41-58
• /
• 2012

The purpose of this study was to compare the job loss and job seeking experiences between middle-aged men and their younger cohort. Participants included 11 middle-aged unemployed men and nine younger unemployed men. The study adopted a phenomenological approach. In-depth individual interviews were carried out and the theme analysis was used to analyze the interview data. The results showed that the two cohorts experienced the macroeconomic crises, the foreign exchange crisis in 1997 and the global financial crisis in 2008, differently. Their experiences affected their attribution of the unemployment and job seeking process. They expressed ambivalence toward their family while dealing with social isolation from extrafamilial support. Most of the participants criticized government employment support policies and services.

• Korean Journal of Human Ecology
• /
• v.24 no.3
• /
• pp.341-358
• /
• 2015

This study aims to identify predictors of driving cessation among Korean elderly. Data from 2011 Elderly Survey conducted by Ministry of Health and Welfare and Korea Institute for Health and Social Affairs were used for the analysis. Based on Webber, Porter, Menec(2010)'s comprehensive theoretical framework for mobility, the model of this study tests five major determinants of driving cessation including financial, psychosocial, environmental, physical and cognitive factors. Results of logistic regression analysis showed that economic status, marital status, contacts with relatives and friends, residential location, taking medication, muscle strength, age, gender, and job were significant predictors of driving cessation of older drivers. Specifically, lower economic status, unmarried status, less contacts with relatives and friends, living in the city, taking medication, weaker muscle strength, older age, female, non-working status were significant risk factors for driving cessation. Practical implications in light of study findings were discussed.