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The Mitigating Effects of Social and Financial Capital Resources on Hardships

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  • Rochelle Parks-Yancy
  • Nancy DiTomaso
  • Corinne Post

Abstract

Social and financial capital resources contribute significantly to socioeconomic outcomes. However, insufficient attention has been given to how these resources may mitigate potential socioeconomic setbacks and differ for gender and class groups. In our study, most of the interviewees with hardships had access to social and financial capital resources. The few with insufficient access were working class. Women accessed financial capital resources to overcome hardships more than men, whereas men were more likely to use social capital resources. Access to the resources helped ensure that almost all of the individuals in this study did not suffer the full consequences of their hardships. The hardship itself was of less importance than having access to social and financial capital resources. Copyright Springer Science+Business Media, LLC 2007

Suggested Citation

  • Rochelle Parks-Yancy & Nancy DiTomaso & Corinne Post, 2007. "The Mitigating Effects of Social and Financial Capital Resources on Hardships," Journal of Family and Economic Issues, Springer, vol. 28(3), pages 429-448, September.
    • Handle: RePEc:kap:jfamec:v:28:y:2007:i:3:p:429-448
    DOI: 10.1007/s10834-007-9065-8
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    References listed on IDEAS

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    1. Julie Press & Jay Fagan, 2006. "Spousal Childcare Involvement and Perceived Support for Paid Work," Journal of Family and Economic Issues, Springer, vol. 27(2), pages 354-374, June.
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    Cited by:

    1. Kathleen Malone & Susan Stewart & Jan Wilson & Peter Korsching, 2010. "Perceptions of Financial Well-Being among American Women in Diverse Families," Journal of Family and Economic Issues, Springer, vol. 31(1), pages 63-81, March.
    2. Chang-Keun Han & Song-Iee Hong, 2011. "Assets and Life Satisfaction Patterns Among Korean Older Adults: Latent Class Analysis," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 100(2), pages 225-240, January.
    3. Chang-Keun Han & Michael Sherraden, 2009. "Attitudes and Saving in Individual Development Accounts: Latent Class Analysis," Journal of Family and Economic Issues, Springer, vol. 30(3), pages 226-236, September.
    4. Rui Xue & Adrian Gepp & Terry J. O'Neill & Steven Stern & Bruce J. Vanstone, 2020. "Financial well‐being amongst elderly Australians: the role of consumption patterns and financial literacy," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(4), pages 4361-4386, December.
    5. Krista Lynn Minnotte & Michael C. Minnotte, 2018. "Work-Family Conflict Among Dual-Earners: Are Partner, Family, and Friends Resources or Liabilities?," Journal of Family and Economic Issues, Springer, vol. 39(2), pages 258-276, June.
    6. Marc Fusaro, 2008. "Hidden Consumer Loans: An Analysis of Implicit Interest Rates on Bounced Checks," Journal of Family and Economic Issues, Springer, vol. 29(2), pages 251-263, June.
    7. Yuka Fujimoto & Ahmed Ferdous & Faisal Wali, 2023. "Integrative Resource Model of Workplace Inclusion for Reduced Inequality: Conservation of Resources Perspective," Journal of Business Ethics, Springer, vol. 187(2), pages 301-323, October.
    8. Daniel Lai, 2011. "Perceived Impact of Economic Downturn on Worry Experienced by Elderly Chinese Immigrants in Canada," Journal of Family and Economic Issues, Springer, vol. 32(3), pages 521-531, September.
    9. Sandra Hofferth & Nicole Forry & H. Peters, 2010. "Child Support, Father–Child Contact, and Preteens’ Involvement with Nonresidential Fathers: Racial/Ethnic Differences," Journal of Family and Economic Issues, Springer, vol. 31(1), pages 14-32, March.
    10. JeongHee Yeo & Yoon G. Lee, 2019. "Understanding the Association Between Perceived Financial Well-Being and Life Satisfaction Among Older Adults: Does Social Capital Play a Role?," Journal of Family and Economic Issues, Springer, vol. 40(4), pages 592-608, December.
    11. Lynne Borden & Sun-A Lee & Joyce Serido & Dawn Collins, 2008. "Changing College Students’ Financial Knowledge, Attitudes, and Behavior through Seminar Participation," Journal of Family and Economic Issues, Springer, vol. 29(1), pages 23-40, March.
    12. Scott Bowman, 2011. "Multigenerational Interactions in Black Middle Class Wealth and Asset Decision Making," Journal of Family and Economic Issues, Springer, vol. 32(1), pages 15-26, March.
    13. Vicky Tam & Raymond Chan, 2010. "Hong Kong Parents’ Perceptions and Experiences of Involvement in Homework: A Family Capital and Resource Management Perspective," Journal of Family and Economic Issues, Springer, vol. 31(3), pages 361-370, September.
    14. Cynthia Sanders & Shirley Porterfield, 2010. "The Ownership Society and Women: Exploring Female Householders’ Ability to Accumulate Assets," Journal of Family and Economic Issues, Springer, vol. 31(1), pages 90-106, March.
    15. Melissa Radey, 2008. "The Influence of Social Supports on Employment for Hispanic, Black, and White Unmarried Mothers," Journal of Family and Economic Issues, Springer, vol. 29(3), pages 445-460, September.
    16. Marita McCabe & Elodie O’Connor, 2010. "The Economic Impact of Progressive Neurological Illness on Quality of Life in Australia," Journal of Family and Economic Issues, Springer, vol. 31(1), pages 82-89, March.

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    Keywords

    Class; Hardships; Social capital;
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