A multi-group structural equation model (SEM) examining asset holding effects on educational attainment by race and gender
2010; Routledge; Volume: 16; Issue: 2 Linguagem: Inglês
10.1080/10796126.2010.502522
ISSN1469-9389
AutoresWilliam Elliott, Hyunzee Jung, Kevin Kim, Gina Chowa,
Tópico(s)School Choice and Performance
ResumoAbstract Little is known about the processes through which parents' and children's wealth may influence children's math and reading scores. Even less is known about how these processes may vary across race and gender. In this study we analyze Panel Study of Income Dynamics (PSID) data using multi-group structural equation modeling (SEM) to examine wealth effects by gender (male/female) and race (white/black). Results suggest that there are important statistical differences across race and gender. For example, we find that children's school savings predict math scores among white children but not black children. Net worth is a positive predictor of black males' math scores but a negative predictor of black females'. In the case of income, we find that it is directly related to black females' math scores but not black males'. In general, findings suggest that liquid forms of wealth (i.e., forms of wealth that are easily converted into cash) may be better predictors of children's academic achievement than net worth. Keywords: Panel Study of Income Dynamics (PSID)assetsexpectationseducationmathreadingChild Development Accounts (CDAs) Notes 1. The theory section of the manuscript discusses non-liquid forms of education accounts in more depth. 2. An example of a proposed CDA policy is the America Saving for Personal Investment, Retirement, and Education (ASPIRE) Act. 3. In this manner family size is controlled. 4. The removal of the path was based purely on statistical reasons – statistical insignificance and the b value being close to zero. A theoretical implication of removing the path was that parent income was not related to children's possession of school savings in all four groups. 5. YB = Yuan Bentler; CFI = Comparative Fit Index; RMSEA = Root mean square root of approximation. 6. For more information on these policies, see Loke and Sherraden (Citation2009). 7. For more information on Singapore's educational accounts, see Loke and Sherraden (Citation2009). 8. For more information about the Virtual Wallet, go to https://www.pncvirtualwallet.com/main.html 9. For more information on savings and federal financial aid reductions, see Executive Office of the President, Office of Management and Budget (Citation2009). 10. For more information on SEED OK, see http://csd.wustl.edu/AssetBuilding/SEEDOK/
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