This study evaluated a conceptual model with which to explore the influence of parental financial socialization in a sample of Hong Kong adolescent students and to evaluate how school financial education impacted the model's results. Baseline data, collected before the financial intervention, revealed that parental financial socialization positively influenced adolescent financial behaviors as mediated by financial learning outcomes and psychological transformation, in sequence. Model results based on follow-up tests suggested that the positive link between parental financial norms and adolescents’ financial attitudes was stronger in the experimental group than in the control (no financial intervention) group, but the positive link between direct parental teaching and self-control in financial behaviors was weaker in the experimental group compared to that in the control group. Neither differential direct pathways linking financial learning outcomes to financial behaviors nor differential indirect pathways mediated by psychological transformation were identified. These findings improve the understanding of parental financial socialization in the context of school education. The results produce multiple research questions to be considered in future studies. Copyright © 2019 Elsevier Ltd. All rights reserved.

This study addresses the link between overeducation and intention to migrate to the Greater Bay Area (GBA) cities in mainland China in a sample of Hong Kong’s young adults employed in lower occupational classes (elementary occupations, plant and machine operators and assemblers, craft and related workers, and service and sales workers). The results indicate that overeducation has a unique negative effect on attitudes towards migration to GBA. The findings suggest that social capital theory rather than human capital theory is better able to explain the motivation of Hong Kong’s young people to invest in higher education. This research may help policy makers review the expansion of higher education in Hong Kong and provide valuable policy implications for regional integration between Hong Kong and mainland China. Copyright © 2021 Informa UK Limited, trading as Taylor & Francis Group.

Financial capability is an important competence for adolescents, and secondary school is a natural setting in which to deliver financial education courses. Currently, however, little empirical evidence has been published on the effects of in-school financial education on financial capability in adolescents. This pilot study brought together a randomized experimental design, a combination of local and non-local financial education courses, comprehensive measurements, and multi-level structural equation modeling for data analysis to evaluate the outcomes of a financial education project in a representative sample of Hong Kong adolescents. Results demonstrated that our financial intervention made a positive impact on objective financial knowledge and financial self-efficacy but a negative one on financial behaviors. Positive effects on financial self-efficacy were stronger in male adolescents than in females. Our findings represent an important contribution to the literature regarding financial education at the secondary school level. Copyright © 2019 Springer Nature B.V.

The mismatch between financial objective and subjective knowledge that occurs in youth and adolescents has been understudied in the literature. Based on objective and subjective financial literacy scores, this study categorizes financial literacy into four types: financial literacy overconfidence, underconfidence, competence, and naïvete in a sample of adolescents. Data were collected from 330 students aged around 15 years old in six middle schools in Hong Kong. The results indicate that adolescents who are overconfident about their financial literacy are more likely to engage in risky financial behavior and report higher levels of financial autonomy. A randomized experimental trial was conducted to assess whether financial education could change the mismatch between financial objective and subjective knowledge. The results show a significant increase in underconfidence after the financial education intervention, but no significant change in the other three categories. The findings highlight the same type of financial literacy overconfidence in both adolescents and adults and has implications for financial counselors and educators who would improve the financial engagement of adolescents. Copyright © 2021 Association for Financial Counseling and Planning Education, U.S.A.