Individual wealth accumulation: Why does dining together as a family matter?

Artikel

This study uses data from the Panel Study of Income Dynamics to examine whether self-regulation, proxied by regularly dining together with family, is associated with better financial preparedness and greater wealth accumulation across time among households. Findings reveal that individuals who had sufficient self-regulation to regularly eat meals together with their family, increased wealth at a faster rate than others between 1994 and 2004. Moreover, those who exhibited self-regulation by frequently spending mealtime with their family showed greater preference for investment portfolio diversification. Consistent with other studies, results indicate that wealth accumulation increased with age, income, and educational attainment.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Applied Economics Research Bulletin ; Volume: 8 ; Year: 2012 ; Issue: 2 ; Pages: 1-22

Classification and Topics

• Classification: Wirtschaft ; Household Saving; Personal Finance ; Personal Income, Wealth, and Their Distributions ; Micro-Based Behavioral Economics: Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making‡
• Subject: Individual wealth ; Behavioral Economics ; Portfolio Allocation ; Self Regulation ; Wealth ; Behavioral economics ; Portfolio selection ; Self-Regulation

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Chatterjee, Swarn ; Palmer, Lance ; Goetz, Joseph
• Event: Veröffentlichung
• (who): ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften, Leibniz-Informationszentrum Wirtschaft
• (where): Kiel, Hamburg
• (when): 2012

Further information

• Handle: http://hdl.handle.net/10419/129438
• Last update: 10.03.2025, 11:43 AM CET