Abstract

ABSTRACT The study develops a theoretical model to explain the financial behavior of immigrant communities. In the study, two key financial behavior models (Financial Health Model by Huston (2015) and Conceptual Model of Young Adults’ Financial Capability by Serido et al. (2013) are leveraged in developing a ‘New Proposed Conceptual Model of Immigrant Financial Behavior’. This new proposed model, which has been leveraged and validated in the present study, combines key variables of the two above mentioned existing models and introduces cultural factors, which has been non-existent in the earlier models, but which is critical to managing financial behavior, especially for a culture-sharing group. Keywords Financial behavior, remittances, immigrants, and culture

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