Developing a Measure of Financial Privacy: A Pilot Study of U.S. College Students
This study applied communication privacy management (CPM) theory to develop a new measure of financial privacy, encompassing three dimensions of ownership, permeability, and linkages. The exploratory factor analysis was based on a pilot survey of 371 U.S. college students. The development of this sc...
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| Format: | Article |
| Language: | English |
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MDPI AG
2024-11-01
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| Series: | International Journal of Financial Studies |
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| Online Access: | https://www.mdpi.com/2227-7072/12/4/116 |
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| _version_ | 1850241562300121088 |
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| author | Thomas A. Hanson Andrew J. Byrd |
| author_facet | Thomas A. Hanson Andrew J. Byrd |
| author_sort | Thomas A. Hanson |
| collection | DOAJ |
| description | This study applied communication privacy management (CPM) theory to develop a new measure of financial privacy, encompassing three dimensions of ownership, permeability, and linkages. The exploratory factor analysis was based on a pilot survey of 371 U.S. college students. The development of this scale was motivated by previous research establishing links between financial literacy, financial socialization, and family communication patterns to suggest the importance of understanding and measuring the role of communication and privacy in the transmission of financial knowledge. Therefore, correlations are also presented between the new measure of financial privacy and measures of financial knowledge, confidence, and experience. The financial privacy scale attained adequate validity and reliability to encourage further refinement and utilization in future theoretical and practical research related to family financial socialization. |
| format | Article |
| id | doaj-art-a675a5863d8a49ec9e547dffe6c33d7c |
| institution | OA Journals |
| issn | 2227-7072 |
| language | English |
| publishDate | 2024-11-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | International Journal of Financial Studies |
| spelling | doaj-art-a675a5863d8a49ec9e547dffe6c33d7c2025-08-20T02:00:34ZengMDPI AGInternational Journal of Financial Studies2227-70722024-11-0112411610.3390/ijfs12040116Developing a Measure of Financial Privacy: A Pilot Study of U.S. College StudentsThomas A. Hanson0Andrew J. Byrd1Lacy School of Business, Butler University, 4600 Sunset Avenue, Indianapolis, IN 46208, USALacy School of Business, Butler University, 4600 Sunset Avenue, Indianapolis, IN 46208, USAThis study applied communication privacy management (CPM) theory to develop a new measure of financial privacy, encompassing three dimensions of ownership, permeability, and linkages. The exploratory factor analysis was based on a pilot survey of 371 U.S. college students. The development of this scale was motivated by previous research establishing links between financial literacy, financial socialization, and family communication patterns to suggest the importance of understanding and measuring the role of communication and privacy in the transmission of financial knowledge. Therefore, correlations are also presented between the new measure of financial privacy and measures of financial knowledge, confidence, and experience. The financial privacy scale attained adequate validity and reliability to encourage further refinement and utilization in future theoretical and practical research related to family financial socialization.https://www.mdpi.com/2227-7072/12/4/116financial literacyfinancial privacyfinancial socializationfinancial capabilitycommunication privacy management |
| spellingShingle | Thomas A. Hanson Andrew J. Byrd Developing a Measure of Financial Privacy: A Pilot Study of U.S. College Students International Journal of Financial Studies financial literacy financial privacy financial socialization financial capability communication privacy management |
| title | Developing a Measure of Financial Privacy: A Pilot Study of U.S. College Students |
| title_full | Developing a Measure of Financial Privacy: A Pilot Study of U.S. College Students |
| title_fullStr | Developing a Measure of Financial Privacy: A Pilot Study of U.S. College Students |
| title_full_unstemmed | Developing a Measure of Financial Privacy: A Pilot Study of U.S. College Students |
| title_short | Developing a Measure of Financial Privacy: A Pilot Study of U.S. College Students |
| title_sort | developing a measure of financial privacy a pilot study of u s college students |
| topic | financial literacy financial privacy financial socialization financial capability communication privacy management |
| url | https://www.mdpi.com/2227-7072/12/4/116 |
| work_keys_str_mv | AT thomasahanson developingameasureoffinancialprivacyapilotstudyofuscollegestudents AT andrewjbyrd developingameasureoffinancialprivacyapilotstudyofuscollegestudents |