Asset Ownership of New Asian Immigrants in the United States

Kim, Jinhee; Chatterjee, Swarn; Cho, Soo Hyun

doi:10.1007/s10834-012-9317-0

Cited by 24 publications

(22 citation statements)

References 22 publications

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“…Although not as prevalent as black-white household wealth studies, some research examines Asian and Latino wealth (Campbell and Kaufman 2006; Eller and Fraser 1995; Grant 2000; see also Jinhee Kim, Swarn Chatterjee, and Soo Hyun Cho 2012). Many of the same processes that contribute to black-white wealth inequality also disadvantage Latinos.…”

Section: Conceptual Frameworkmentioning

confidence: 99%

Wealth Inequality among New Immigrants

Painter

Qian

2015

Sociological Perspectives

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Much of the research on immigrants’ economic well-being demonstrates a greater concentration of immigrants in or near poverty. A relatively new aspect of scholarly interest in immigrant economic well-being is wealth or net worth. We use assimilation theory and data from the New Immigrant Survey (NIS) to explore wealth inequality among immigrants and highlight how racial/ethnic realities in the United States provide differential opportunities and constraints for immigrants of different racial/ethnic backgrounds, net of factors such as pre-immigration characteristics and length of U.S. stay. We apply quantile regression to analyze immigrants’ net worth and logistic regression to explore immigrants’ investments, including homeownership and investment in stocks and bonds. Results provide evidence of a white/nonwhite wealth divide among immigrants. This study improves our understanding of how long-lasting racial/ethnic inequalities in the United States influence diverse immigrants’ integration patterns.

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Section: Conceptual Frameworkmentioning

confidence: 99%

Wealth Inequality among New Immigrants

Painter

Qian

2015

Sociological Perspectives

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“…Given the persistent racial/ethnic gap in many aspects of financial outcomes, there is a need to understand the causes of the differences. While minorities' ownership of asset‐building investments, such as the stock and housing market has not kept up with that of Whites (Hanna and Lindamood, 2008; Kim et al ., 2012), our understanding of the retirement saving motives held by various racial groups is not complete. Therefore, the purpose of this study is to investigate racial/ethnic differences in holding a retirement saving motive using the 2016 Survey of Consumer Finances (SCF).…”

Section: Introductionmentioning

confidence: 99%

Racial/ethnic differences in holding a retirement saving motive: A decomposition analysis

Kim

Cho

DeVaney

2020

Journal of Consumer Affairs

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Establishing a retirement goal facilitates one's long‐term financial planning behavior. Yet, the portion of U.S. households who achieve this goal is relatively small. Further, the percentage is much lower among racial and ethnic minorities. This study investigates racial/ethnic disparities in motives for holding a retirement savings and contributing factors to explain the gaps. Results from the 2016 Survey of Consumer Finances (SCF) indicate that White respondents were more likely to hold a retirement saving motive than were other racial/ethnic groups, even after controlling for various socio‐economic characteristics. Decomposition analysis shows that homeownership, objective financial knowledge, planning horizon, and age were the most important determinants that explain the racial/ethnic gap in withholding a retirement saving motive. This study provides evidence in support of the importance of tailored educational interventions among racial/ethnic groups.

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“…Using the SCF, Letkiewicz and Hanna (2013) reported that Asians were less likely than Whites to meet the 25 % capital accumulation ratio guideline. Kim et al (2012) examined the asset ownership of Asian immigrants using the New Immigrant Survey. The authors found that ownership of a business or farm, financial assets, and home ownership differed across ethnic groups.…”

Section: Risk Tolerance and Investment Ownershipmentioning

confidence: 99%

Financial Behavior and Attitudes of Asians Compared to Other Racial/Ethnic Groups in the United States

Hanna

Lee²,

Lindamood³

2015

J Fam Econ Iss

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Most research studying family financial behavior of racial/ethnic groups has ignored Asian households or arbitrarily combined them with other racial/ethnic groups. We treated Asian households as a separate racial/ ethnic group to compare twelve financial behaviors and attitudes of Asian households to those of three other racial/ ethnic groups: White, Black and Hispanic. Using multivariate analyses with the 2010 Survey of Consumer Finances, we found differences in seven behaviors/attitudes between Asian households and each of the other three household types, although the differences were not consistent across groups except for a lower credit delinquency rate of Asian households. Our results suggest that Asian households should be analyzed as a separate group and should not be combined with other racial/ethnic groups for comparison purposes.

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Asset Ownership of New Asian Immigrants in the United States

Abstract: This study examined the asset ownership of

Cited by 24 publications

References 22 publications

Wealth Inequality among New Immigrants

Wealth Inequality among New Immigrants

Racial/ethnic differences in holding a retirement saving motive: A decomposition analysis

Financial Behavior and Attitudes of Asians Compared to Other Racial/Ethnic Groups in the United States

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