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The Purchase Influence of Elderly Parents in Extended Families
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1280452807
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2010
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395 ~ 416 : page
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Implicitly or explicitly, the nuclear family structure has been assumed as the key unit of analysis for the vast majority of the family decision making studies, albeit much variation exists in the number of respondents selected as the key informants for the phenomenon under consideration. Given the recent trend that traditional family living arrangements are on the wane and many other types are growing rapidly, it is difficult to define a prototypical family structure. In addition, in many non-western societies, vertically extended family structures are common where multiple generations engage in exchange and influence relationships in various family affairs. In this study, we investigated Korean elderly parents¡¯ influence in family purchase decisions and its contributing factors under the extended family structure prevalent in the East Asian culture. Results show that economic resources elderly parents possessed or contributed to the purchase generally had significant effects on the level of their decision influence, whereas children¡¯s filial piety, a culture-based influence source for Korean elderly parents, emerged as a non-significant source of their decision influence. A notable feature of the analysis method employed in this study relates to the use of the correlated uniqueness (CU) structural modeling approach utilizing multiple-informant data obtained from both generations. In this approach, error terms of all the measures provided by the same family member would be allowed to be correlated across all constructs, exogenous and endogenous. This provides a mechanism for partialing out the confounding caused by informant bias when estimating parameters. Compared to the approach that incorporates informant bias factors, the CU structural modeling approach is less likely to encounter difficulties in estimation. Given its simplicity and relative imperviousness to estimation problems, we took the CU structural modeling approach in our subsequent investigation of the structural relationships between elderly parents¡¯ purchase influence and its potential determin too. Specificall dethe model de detion at elderly parents¡¯ influence is affestimaby their possession/use of four economic resources (purchase-viecific ll ancial contribution, general financial assistance, household contributions, product knowledge) and one culture-based potential source of influence (filial piety). It also specifies correlations among error terms associated with the measures provided by the same informant. This CU structural model was estimated for each purchase decision to test our hypotheses. More Specifically, sons and daughters-in-law are prone to appreciate contribution of elderly parents for high price product like house or automobile. They, however, are likely to prefer elderly parents¡¯ handing down of product experience to assistance for relatively lower costed product like family tour. Elderly parents are needed to contribute finance or household affairs for maintenance of their voice in family, on the other hand, children¡¯s filial piety is still meaningful factor to their parents¡¯ influence regardless of parents¡¯ contribution. These results say that Korean society may be discording between modern capitalism and traditional humanism. Key words: extended family, family decision making, elderly parents, purchase-specific financial contribution, financial assistance, household contributions, filial piety
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