Financial Socialisation of Accounting Students in South Africa

Bomi Nomlala
Additional contact information
Bomi Nomlala: School of Accounting, Economics and Finance, Durban, South Africa

International Journal of Finance & Banking Studies, 2021, vol. 10, issue 2, 01-15

Abstract: The purpose of the study is aimed at determining the financial socialisation of accounting students at South African universities and the factors that influence financial socialisation. The research used statistical techniques such as the structural equation modelling methodology to identify financial socialisation influencers and regression analysis to analyse associations between financial socialisation andsocio-demographic variables among 1582 students. The study's results indicate that financial socialisation agents such as relatives, friends, and social media have little impact on most students' financial decisions. The majority of accounting students are often found to be financially socialised by their immediate family members rather than peers or social media factors. The regression analysis results confirmed this observation, revealing a statistically significant association between the parents' levelof education and the students' financial socialisation. This study recommends that financial socialisation can be greatly improved by raising parents' educational levels and instilling financial education in university students' curricula, especially in South Africa.

Keywords: Financial socialization; Financial behaviour; Financial capability; Social learning theory; Accounting students; Structural Equation Modelling (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
https://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/1128/878 (application/pdf)
https://www.ssbfnet.com/ojs/index.php/ijfbs/article/view/1128 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rbs:ijfbss:v:10:y:2021:i:2:p:01-15

Access Statistics for this article

International Journal of Finance & Banking Studies is currently edited by Prof.Dr.Hasan Dincer

More articles in International Journal of Finance & Banking Studies from Center for the Strategic Studies in Business and Finance IJFBS Editorial Office, IMU, School of Business. Contact information at EDIRC.
Bibliographic data for series maintained by Hasan Dincer ().