Asset Ownership of New Asian Immigrants in the United States

Abstract

This study examined the asset ownership of Asian immigrants using a nationally representative sample of newly legalized immigrants (New Immigrant Survey). Findings revealed that ownership of a business or farm, financial assets, and home ownership were associated with socioeconomic, demographic, and acculturation variables. Family income, education, English fluency, and length of stay were significant in all types of asset ownership. Variances in asset ownership by ethnic groups exist. Asian Indians and Koreans had higher levels of business asset ownership. Korean, and Filipino immigrants were also more likely to be homeowners. Asian Indian and Chinese immigrants were more likely to own financial assets. Vietnamese lagged in business or farm and financial asset ownership. Findings provided insights into the investment decisions of new Asian immigrants for financial educators, researchers, and policymakers.