[雙語翻譯]個人理財外文翻譯--理財知識和家庭溝通模式

1、5800 英文單詞， 英文單詞，3.4 萬英文字符，中文 萬英文字符，中文 1 萬字 萬字文獻出處： 文獻出處：Hanson T A, Olson P M. Financial literacy and family communication patterns[J]. Journal of Behavioral and Experimental Finance, 2018, 19: 64-71.Financial literacy a

2、nd family communication patternsThomas A. Hanson, Peter M. OlsonAbstractFinancial literacy has been shown to affect a wide range of financial behavior; therefore, understanding methods to improve financial literacy is vi

3、tal for improving financial outcomes in personal finance. However, efforts to increase financial literacy through education have exhibited mixed results, which suggests that additional factors merit exploration for their

4、 impact on financial literacy. This study hypothesizes that family communication patterns will be related to financial knowledge, specifically that college students from a conversation-oriented family will perform better

5、 on a quiz of financial knowledge than those from a conformity-oriented family. This cross-disciplinary work emphasizes the relationship between financial literacy and communication studies. The research is conducted thr

6、ough an online survey administered to a volunteer sample of college students. Results suggest that conversations within the family regarding financial matters provide important knowledge regarding financial matters and m

7、ay be a factor to consider in designing any financial literacy program.Keywords: Financial literacy; Financial education;Family communication patterns1. IntroductionBroader participation in financial markets, innovation

8、in the financial sector, and changes in the funding of retirement spending (i.e., the switch from defined benefit to defined contribution plans) have led to ever-greater personal responsibility for financial decisions si

9、nce the 1940s (Ryan et al., 2011). Similarly, in their call for consumer financial protection measures, Campbell et al. (2011) draw attention to the do-it-yourself nature of much of modern finance and specifically examin

10、e several case studies involving payday lending, choosing a mortgage, and financing retirement as situations in which financial literacy is often inadequate for satisfactory decision-making. Consequently, the value of pe

11、rsonal financial literacy has perhaps never been greater than today.The benefits of financial literacy have been empirically demonstrated for a variety of financial decisions and behaviors. Improved financial literacy ha

12、s been shown to have a positive effect on retirement planning (Clark et al., 2012), stock market participation (van Rooij et al., 2011), personal savings (Jappelli and Padula, 2013), appropriate use of debt (Stango and Z

13、inman, 2009), mortgage terms (Duca and Kumar, 2014), and credit card behavior (Xiao et al., 2012; Norvilitis et al., 2006). Previous work has also shown a correlation between financial knowledge and wealth (van Rooij et

14、al., 2012), and financial knowledge can explain between 30 and 40% of retirement wealth differences (Lusardi et al., 2017). Therefore, individuals can reap substantial gains in both the short- and long- term by improving

15、 their personal financial knowledge.Meanwhile, low financial literacy has been linked to suboptimal financial decisions (Hilgert et al., 2003; Choi et al., 2011). Individuals lacking in financial literacy accrue numerous

16、 specific detriments, including excessive borrowing costs and fees (Lusardi and Tufano, 2015; Hastings et al., 2011) and a lack of appropriate long-term investments (van Rooij et al., 2011; Yoong, 2011). Furthermore, hou

17、seholds that possess low financial literacy and shun outside advice can lose 50 ramifications for financial education efforts as well. The next section reviews the related literature, not only on financial literacy but a

18、lso on consumer socialization and family communication. The survey’s methods are described next, followed by statistical results. The paper closes with a discussion of the implications for future research on financial li

19、teracy as well as pedagogy in the finance classroom.2. Literature reviewFinancial literacy as a construct lacks a consistent definition in the extant literature, and no single survey instrument exists that has demonstrat

20、ed acceptable reliability and validity (Huston, 2010). Furthermore, the concept of financial literacy is often conflated with financial knowledge on various topics, including interest rates and inflation, the functioning

21、 of markets, or specific investment products. However, the complexity of the construct is exemplified in Lusardi and Mitchell’s (2007) definition of the term as a process by which consumers can gather financial informati

22、on, develop skills and confidence, become aware of risks and opportunities, learn appropriate resources for assistance, and take actions to improve their financial situation. Attempts to operationalize this complex const

23、ruct formally include Huston (2010), who proposed a two-dimensional model of knowledge and application. In this definition, the construct of financial literacy is thus defined to encompass both understanding and practice

24、, while also emphasizing the hierarchical relationship that begins with education and leads to literacy, behaviors, and ultimately well-being. Therefore, studies of financial literacy should generally strive to measure b

25、oth knowledge and behavior.Financial literacy has also been embedded in a three- dimensional model of financial capability, comprising financial literacy, financial behavior, and perceived financial capability (Xiao et a

26、l., 2014a, 2015). This model extends the concept to include self-perception and confidence in addition to knowledge and behavior. The value of including such personally subjective variables is reinforced by Xiao et al. (

27、2014b), who report that subjective knowledge had a stronger impact on subsequent behaviors than objective knowledge in a panel dataset of college students. All- good and Walstad (2016) also argue that self-reported perce

28、ptions of financial literacy play a role in affecting financial well-being. Consequently, asking participants about their perceived financial knowledge and confidence can be an important aspect of studies of financial li

29、teracy.One challenge of developing appropriate instruments to measure financial literacy is that much of the research on the topic is based on large-scale, government-sponsored household surveys such as the British House

30、hold Panel Survey (e.g. Taylor, 2011) or variations on the Health and Retirement Study (HRS) that was originally developed in the United States (Lusardi and Mitchell, 2012) and later emulated around the world (Lusardi an

31、d Mitchell, 2011). These surveys might more properly be described as tests of financial knowledge than of financial literacy, and the relationship between such questions and subsequent financial behavior and outcomes is

32、often weak (Hastings et al., 2013; Schmeiser and Seligman, 2013). The present research begins with a survey of financial knowledge as a starting point for measuring financial literacy. In addition, we ask respondents abo

33、ut their experience with various financial instruments and about their self-perceived financial knowledge. While financial knowledge remains the primary variable of interest, we attempt to include these other important d