earticle

영어

The purpose of this research is to compare various generations' financial management attitudes and behaviors. The 2007 Investor Survey by Korea Investor Protection Foundation was analyzed to compare the financial management attitudes and behaviors of the different generations. To describe the overall financial management attitudes and behaviors profiles of various Korean generations, attitudes and behaviors such as mutual fund investment knowledge, money attitudes, financial management behavior scores, investment preferences, financial risk tolerance, savings motives, and investment horizons were analyzed using ANOVA, chi-square test, multiple regression, logistic regression and multinomial regression. The demographic, socioeconomic, and household financial characteristics were also compared between the generations. To compare the financial management attitudes and behaviors of various generations, the survey respondents were categorized into four different subgroups: N generation (20 to 32 years old, those who were born between 1975 to 1987), X generation (33 to 43 years old, those who were born between 1964 to 1974), Baby Boom generation (44 to 52 years old, those who were born 1955 to 1963), and War generation (53 to 65 years old those who were born between 1942 and 1954). Even though some of the characteristics could belong to the characteristics of the specific life cycle stage (i.e., middle aged household), each generation possesses unique characteristics that distinguish them from the other generations. For example, Baby Boomers are conservative like the War generation, yet they are more risk tolerant and have longer investment horizon than the War generation. The N generation possesses more positive attitudes toward money, more likely to invest in mutual fund and have longer investment horizon than other generations. The X generation is similar to the N generation in terms of money attitudes however, X generations are less risk tolerant than the N generations. The War generation has lowest level of mutual funds knowledge and financial management behavior scores. Each generation's unique investment and financial behaviors are one of the key issues of future research when considering the significant influences of various generations have on the entire economy. The current manuscript tried to describe different generations' investment behavior and further analyses on identifying the in-depth profiles of the Korean generations are recommended.

한국어

본 연구는 한국의 다양한 세대의 가계재무관리행태를 비교하고자 한국투자자교육재단의 ｢2007 투자자조사｣를 이용하여 전체응답자(N=3,500)를 N세대(1975~1987년생), X세대(1964~1974년생), 베이비부머세대(1955~ 1963년생), 전쟁세대(1942~1954년생)로 구분하여 펀드투자지식, 돈에 대한 태도, 재무관리행동점수, 위험수용성향, 투자의사결정기간, 펀드투자여부, 투자관련 선호 등을 살펴보았다. 분산분석과 다양한 회귀분석결과 각 세대는 가계재무관리행태에서 다양한 특징을 나타내어 세대 고유의 특징을 보여주었다. N세대의 경우 돈에 대한 태도가 다른 세대와 비교할 때 긍정적이었으며 펀드에 투자할 가능성이 높았다. 위험추구형인 경우가 많았으며 투자의사결정기간은 장기적인 것으로 나타났다. X세대의 경우는 돈에 대한 태도가 긍정적이고 펀드에 투자할 가능성이 높은 점에서는 N세대와 유사하지만 N세대보다는 위험에 대하여 보수적이고 재무관리행동점수가 높은 편은 아니었다. 베이비부머세대는 돈에 대한 태도에 있어서는 N세대나 X세대보다는 전쟁세대와 가까운 편으로 긍정적인 태도 점수가 높지는 않았으나 전쟁세대보다는 위험추구적인 경향을 보였다. 전쟁세대는 재무관리지식과 행동 점수가 낮았으며 위험에 대하여 상당히 보수적인 경향을 보였다. 본 연구는 개인재무관리 측면에서 세대의 특징을 대별하여 살펴본 연구가 많지 않은 실정에서 후속연구에 방향성을 제공할 수 있을 것이며 탐색적인 자료제공을 통해 각 세대를 기술하는 데 필요한 기초자료의 제공에 기여할 수 있을 것으로 생각된다.