SAES-422 Multistate Research Activity Accomplishments Report

Sections

Status: Approved

Basic Information

Participants

Wheeler, Brandan – Mississippi State University; Johnson, Carrie – North Dakota State University; Kiss, Elizabeth – Kansas State University; Lawrence, Fran – University of Missouri; Jurgenson, Jesse – University of Maryland; Wounded Head, Lorna – South Dakota State University; Erickson, Luke – University of Idaho; Gutter, Michael – University of Florida; Porto, Nilton – University of Rhode Island; Worthy, Sheri – University of Georgia; Cho, Soo Hyun – California State University, Long Beach; Bartholomae, Suzanne – Iowa State University; Chatterjee, Swarn – University of Georgia; Griesdorn, Tim – University of the Incarnate Word; Mountain, Travis – Virginia Polytechnic Institute and State University; Heo, Wookjae – South Dakota State University; Xu, Yilan – University of Illinois; DeVaney, Sharon – Purdue University, Emeritus; Lyons, Angela – University of Illinois; Minton, J. Ernest – Administrative Advisor; Elrod, R. Brent – NIFA Representative

2020-Annual-meeting-minutes.docx

Accomplishments

Outputs

 

A subcommittee group developed a website (https://www.personalfinanceresearch.org/) to showcase research activities. This is where the following outreach materials will be housed: blog articles related to research being conducted; research briefs of peer reviewed publications; infographics; and podcasts.

 

Activities

 

  1. Monthly meetings were held via Zoom.

 

  1. Subgroups have been formed based on interest of the larger topic.

 

  1. Oral and poster presentations were given based on research conducted by this group:
    1. Cho, S. H., Davis, M. (2019). Financial Stress and Academic Stress: Role of Race, Working Status, and Debt Attitudes among College Students. Annual AFCPE Research & Training Symposium, November 19-21, Portland, OR.
    2. Griesdorn, T. S., Gutter, M. S., Cho, S. H., Lawrence, F. (October, 2019). Determinants of homeownership: Testing the Behavioral Life-Cycle Hypothesis. International Conference of the Academy of Business Research, San Antonio, TX.
    3. Heo, W. Grable, J. E., Roszkowski, M., & Rabbani, A. (October, 2019). The Alpha and Omega of Financial Risk-Tolerance Assessment. Presentation at Academy of Financial Services, Minneapolis, MN.
    4. Heo, W., Lee, J. M., & Park, N. (February 2020). Estimating Willingness-to-Pay for Financial Planning Services. Oral Presentation at 2020 Academic Research Colloquium for Financial Planning and Related Disciplines, Washington, DC.
    5. Heo, W., Park, N., & Lee, J. M. (October, 2019). Why Financial Planners Should Know Clients’ Psychological Factors Even in a Same Job: An Exploratory Study about Farmers. Presentation at Academy of Financial Services, Minneapolis, MN.
    6. Heo, W., Rabbani, A., Lee, J. M. (February, 2020). Mediating Effect of Financial Knowledge Underconfidence on the Association Between Financial Risk Tolerance and Equity Ownership. Poster Presentation at 2020 Academic Research Colloquium for Financial Planning and Related Disciplines, Washington, DC.

 

Milestones

 

  1. Secondary datasets have been identified that include variables that will assist the group in meeting our four objectives.
    1. Understanding family resource management under uncertainties over life span.
    2. Identifying personal characteristics and contextual factors contributing to household financial and health decisions.
    3. Understanding how financial capability affects household health decisions and outcomes.
    4. Understanding how health conditions affect household financial decisions.

 

  1. Financial stress scale was developed and validated by two members of the research team. This measure will be beneficial in future research, not only to this group, but to researchers across the world.

 

  1. COVID-19 affects household’s health and finances. Because of this, the group has begun drafting a multi-stage data collection survey. Data collection will begin summer 2020 to gather data on how the pandemic affects the objectives previously laid out by the group.

 

Impacts

  1. NC2172 has spent the past year examining datasets that provide current data in relation to health and household finances. Many potential datasets have been identified that can be used to answer research questions that meet our four objectives. COVID-19 has disrupted many households’ health and finances in the past several months. This research team is in a unique position to help answer some household health and economic questions related to the pandemic. A survey is currently being drafted to collect longitudinal data of U.S. households and how the pandemic has impacted their healthcare access and household financial situation.

Publications

Publications

 

Journal Articles

 

DeVaney, S. A., Borr, M., Lee, Y-A., Spangler, A., Wilmarth, M. J., & Anong, S. (2020).

Helping Professors Grow as They Teach and Advise Graduate Students. Family & Consumer Sciences Research Journal, 48(4), June, pp. 359-368.

 

DeVaney, S. A. (2019). Selection of Best Papers, the Outstanding Paper, and the Emerging

Scholar for 2019. Family & Consumer Sciences Research Journal, 48(2), pp. 294-295.

 

Kiss, D. E., Bartholomae, S., Johnson, C. L., O’Neill, B., Xu, Y., & Gutter, M. (2019).

Conceptualizing health and financial wellness: Using facilitated discussion to collect input from professionals. The Forum for Family and Consumer Issues, 22(1).

 

Heo, W., Cho, S., & Lee, P. (2020). APR financial stress scale: Development and validation of a

multidimensional measurement. Journal of Financial Therapy, forthcoming.

 

Heo, W., Lee, J. M., Park, N., & Grable, J. E. (2020). Using artificial neural network techniques

to improve the description and prediction of household financial ratios. Journal of Behavioral and Experimental Finance, forthcoming. Doi: 10.1016/j.jbef.2020.100273.

 

Sabri, M. F., Gudmunson, C. G., & Griesdorn, T. S. (2020). Influence of parent-child financial

socialization on academic success in college. Journal of Financial Counseling and Planning, forthcoming.

 

Xiao, J. J. & Porto, N. (2019). Present bias and financial behavior. Financial Planning Review,

22(2), e1048.

 

Xu, Y., Foreclosed American dream? Parental foreclosure and young adult children’s

homeownership. Journal of Family and Economic Issues, forthcoming.

 

Conference Proceedings

 

Lee, J. M., Kim, K. T., & DeVaney, S. A. (2020). How Does Financial Education Moderate the

Association between Financial Anxiety and Financial Satisfaction? Consumer Interests Annual, online.

 

Book Reviews

 

DeVaney, S. A. (2019). Teaching Qualitative Research: Strategies for Engaging Emerging

Scholars.  Family & Consumer Sciences Research Journal, 48(1), September, pp. 105-

 

DeVaney, S. A. (2020). The Dumb Things Smart People Do with Their Money: Thirteen Ways

to Right Your Financial Wrongs, Family & Consumer Sciences Research Journal, 49(4), June, pp. 373-374.

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