Thesis (Ph. D.)--University of Texas at Austin, 2004. / Supervisor: Sheridan Titman. Vita. Includes bibliographical references.

Zugl.: Passau, Univer., Diss., 2005.

Thesis (Ph.D.) -- Virginia Commonwealth University, 2005. / Prepared for: Dept. of Accounting. Bibliography: leaves 85-93. Also available online.

Thesis (Ph. D.)--University of Texas at Austin, 2007. / Vita. Includes bibliographical references.

Thesis (Ph. D.)--University of Texas at Austin, 2006. / Vita. Includes bibliographical references.

Thesis (Ph.D.)--University of Nebraska-Lincoln, 2006. / Title from title screen (site viewed Feb. 22, 2007). PDF text: vii, 74 p. ; 0.68Mb UMI publication number: AAT 3216429. Includes bibliographical references. Also available in paper, microfilm and microfiche formats.

Doctor of Philosophy / School of Family Studies and Human Services / Sonya L. Lutter / Stuart J. Heckman / College is a time when many young adults are beginning to make financial decisions on their own. The financial behaviors they engage in can have effects on their academic success, life satisfaction, relationship quality, physical and mental well-being, and financial well-being. This dissertation examined the direct and indirect relationships between financial socialization, financial knowledge, financial self-efficacy, and financial behaviors in college students using data from the 2014 National Student Financial Wellness Study (NSFWS). The sample consisted of 12,598 college students from 52 college institutions. Structural Equation Modeling (SEM) was conducted with the tested model guided by Gudmunson and Danes’ (2014) Family Financial Socialization (FFS) conceptual framework. Results revealed financial socialization has a direct influence on financial knowledge, financial self-efficacy, and financial behaviors. An indirect association between financial socialization and financial behaviors through its association with financial self-efficacy was also found. Alternative models discovered neither parental financial socialization nor formal financial education alone impacted financial knowledge, but when combined, their influence became significant, suggesting a possible interaction effect between formal financial education and parental financial socialization. Objective financial knowledge was not found to influence financial self-efficacy or financial behaviors in college students. Results showed financial self-efficacy to be the strongest predictor of students engaging in positive financial behaviors. A one standard deviation increase in financial self-efficacy was associated with a 90% increase in the standard deviation of financial behavior. This study provides support and implications for the FFS conceptual framework. Financial counselors, advisors, and therapists can use these findings to educate their clients on the importance of financial socialization of their children. Furthermore, results reinforce the need for mandatory formal financial education and infer the importance of parents and educators working together to cultivate financial knowledge in children.

This thesis consists of three papers addressing different aspects of financial markets and macroeconomic activities. Firm Risks, Credit, and Labor Market Fluctuations studies the effect of changes in firm risks on the cyclical properties of the labor market. I develop a general equilibrium model in which the adjustment of employment is costly. Financial frictions arise from the limited liability property of the contract between lenders and firms. The changes in firm risks alter the amount of debt that firms can borrow to finance their working capital. This mechanism amplifies labor market fluctuations and displays a countercyclical external finance premium, consistent with the empirical evidence. Shadow Banks and Stabilization Policies studies the interaction between commercial banks and shadow banks and the effect of stabilization policies. I develop a general equilibrium model in which the shadow banks obtain loans from commercial banks in the form of short-term collateralized debt. The moral hazard creates volatile leverage of shadow banks, which makes the economy more vulnerable to economic shocks. Upon an aggregate disturbance, a stabilization policy in the form of direct lending is relatively more efficient than policies aimed at the shadow-banking sector. Bank Capital and Lending: An Analysis of Commercial Banks in the United States empirically evaluates the impact of bank capital on lending patterns of commercial banks in the United States. Using two different measures of capital, namely the capital adequacy ratio and tier 1 ratio, we find a moderate relationship between bank equity and lending. We also use an innovative instrumental variables methodology that helps us overcome the endogeneity issues that are common in such analyses.

Thesis (M.B.A.)--Boston University

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