Applying Behavior Theories to Financial Behavior

By Jing Jian Xiao. 2008

288 citations recorded by the source corpus.

This chapter discusses how two behavior theories can be applied to financial behavior research. The theory of planned behavior (TPB) is a motivational theory designed to predict and understand human behavior. The transtheoretical model of behavior change (TTM) is a multi-stage theory designed to guide people toward positive actions stage by stage. This chapter first discusses how to define financial behavior and then reviews the two theories and their applications to financial behavior. Finally, it discusses issues relevant to future research to better understand and predict financial behavior and to assist consumers to develop positive financial behaviors that improve their quality of life.

Subfields: Accounting, Economics and Econometrics, General Decision Sciences

View Paper: https://www.semanticscholar.org/paper/6a8f7e7bbb71152a8dec5c42f4bdc4f9fbe89aa2

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

1. Jing Jian Xiao
2. Cheng Chen
3. Soyeon Shim
4. Satish Kumar
5. Kirtika Goyal
6. Jeffrey Dew
7. Lei Sun
8. Chuanyi Tang

In Economics and Econometrics

1. Jing Jian Xiao
2. Cheng Chen
3. Jeffrey Dew
4. Soyeon Shim
5. Chuanyi Tang
6. Satish Kumar
7. Kirtika Goyal
8. Lei Sun

In General Decision Sciences

1. Jeffrey Dew
2. Soyeon Shim
3. Jingfei Xiao
4. Satish Kumar
5. Kirtika Goyal
6. Chuanyi Tang
7. Cheng Chen
8. M. Gutter

Citations in the corpus

• Handbook of Consumer Finance Research (2008, methodology): “For example, both the theory of planned behavior and transtheoretical model of behavior change have been applied to consumer fi nancial behaviors in recent years (Xiao, 2008 ).”
• Financial Literacy among the Millennial Generation: Relationships between Knowledge, Skills, Attitude, and Behavior (2020, background): “According to Xiao (2008), financial behavior is an individual's behavior related to money management.”
• Acting for Happiness: Financial Behavior and Life Satisfaction of College Students (2009, methodology): “In our study we use the phrase "financial behaviors" to refer to positive or desirable behaviors recommended by consumer economists as ways to improve financial well-being (Xiao 2008).”
• Financial Behaviors and Financial Well-Being of College Students: Evidence from a National Survey (2011, background): “Behavior can be measured as a binary variable, whether or not to the behavior is performed ( Xiao 2008 ).”
• Consumer Financial Capability and Financial Satisfaction (2013, background): “2.4 Financial Behavior and Financial Satisfaction Financial behaviors refer to human behaviors relevant to money management (Xiao 2008).”
• Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda (2021, methodology): “…and Parente (2015); Bapat (2019) Chi-Square Test Vogler et al. (2008) Conceptual (n=6) Nuspl (1972); McKenna et al. (2003); Stendardi et al. (2006); Xiao (2008); Dolan et al. (2012); Van Raaij (2016) Literature Review (n=5) Lusardi and Mitchell (2007); Xiao et al. (2011); Hastings et al. (2013);…”
• The significance of financial self-efficacy in explaining women’s personal finance behaviour (2016, background): “Indeed, it has been argued that research in the field of personal finance behaviour needs to more effectively encompass psychological theories that explain how personal behaviours are formed (Xiao, 2008).”
• Age differences in consumer financial capability (2015, background): “Financial behavior refers to human behavior relevant to money management (Xiao 2008).”
• The Financial Management Behavior Scale (2010, methodology): “, directly related) to financial outcomes than are financial attitudes (Xiao, 2008) and because well-established financial attitude scales already exist (e.”