The Gender Divide in Cryptocurrency Investment: Exploring the Link Between Financial Knowledge and Parental Financial Socialization
Abstract/Description
Purpose: Cryptocurrency is one of the emerging financial assets in the current economic environment. However, the investment positioning of Generation Z toward cryptocurrency remains untapped.
Methodology: Using two theoretical lenses- family financial socialization and the theory of planned behavior, the present study examines the nexus between financial knowledge, parental financial socialization, and cryptocurrency investment.
Findings: Results showed that financial knowledge has a significant but modest impact on cryptocurrency investment and parental financial socialization has a significant role in shaping investment positioning. Females have significantly greater values for financial self-confidence and attitudes than males instead of having less financial knowledge.
Practical Implications: Financial institutes and policymakers must develop investment policies to acquaint them with investment plans. Academic institutions must focus on developing a curriculum that incorporates the most advanced concepts of emerging financial assets, such as cryptocurrency.
Social Implications: Financial knowledge is helpful for investment orientation and parents can stimulate saving and investment behavior to promote financial well-being.
Keywords
Family Financial Socialization, Theory of Planned Behavior, Self-Financial Confidence, Financial Attitude, Cryptocurrency Investment, Financial Knowledge
Track
Finance
Session Number/Theme
3B: Finance
Session Chair
Dr. Saqib Sharif; Dr. Nauman J. Amin
Start Date/Time
27-5-2023 2:30 PM
End Date/Time
27-5-2023 4:30 PM
Location
MCS-4, AMAN-CED, First Floor
Recommended Citation
Ghafoor, K. A., & Akhtar, M. (2023). The Gender Divide in Cryptocurrency Investment: Exploring the Link Between Financial Knowledge and Parental Financial Socialization. 3rd IBA SBS International Conference 2024. Retrieved from https://ir.iba.edu.pk/sbsic/2023/program/46
COinS
The Gender Divide in Cryptocurrency Investment: Exploring the Link Between Financial Knowledge and Parental Financial Socialization
MCS-4, AMAN-CED, First Floor
Purpose: Cryptocurrency is one of the emerging financial assets in the current economic environment. However, the investment positioning of Generation Z toward cryptocurrency remains untapped.
Methodology: Using two theoretical lenses- family financial socialization and the theory of planned behavior, the present study examines the nexus between financial knowledge, parental financial socialization, and cryptocurrency investment.
Findings: Results showed that financial knowledge has a significant but modest impact on cryptocurrency investment and parental financial socialization has a significant role in shaping investment positioning. Females have significantly greater values for financial self-confidence and attitudes than males instead of having less financial knowledge.
Practical Implications: Financial institutes and policymakers must develop investment policies to acquaint them with investment plans. Academic institutions must focus on developing a curriculum that incorporates the most advanced concepts of emerging financial assets, such as cryptocurrency.
Social Implications: Financial knowledge is helpful for investment orientation and parents can stimulate saving and investment behavior to promote financial well-being.
