Appendix
Results of Supplemental Analyses
Financial Capability and Economic Hardship
Among Low-Income Older Asian Immigrants in a Supported Employment Program
(JEEI-D-13-00051R2)
Supplemental Analysis 1: Removing indicators of dependent and independent variables with standardized factor loading smaller than .45.
TABLE S1 Results of Structural Equations Analysis (N=142)a
Variables / Model 1Independent variables
Financial knowledge / .138
Knowledge of social programs / .027
Comfort level with financial services / –.276*
Evaluation of formal financial institutions / .027
Financial management / –.260*
Control variables
Female / .031
Age (ref: <65 years old)
65 years old or older / .021
Missing / –.241†
Age at immigration: 55 years old or older / –.197
Ethnicity (ref: Chinese or Taiwanese)
Korean / .065
Other / .099
Education (ref: less than high school)
High school diploma / .255
Bachelor’s degree or higher / .176
Speaking English well or very well / .089
Good health / –.272*
Currently married / .068
Household size (ref: 1 member)
2 members / –.121
3 or more members / –.137
Owning credit card / –.177
Owning checking account / –.004
Owning long-term savings / .023
Homeownership / –.136
Visa status at entry (ref: immigration visa)
Worker or student visa / –.042
Other / .033
Survey location (ref: Los Angeles)
Orange County / –.054
New York City / .005
a. Standardized regression coefficients are reported in the table.
†p<.1; *p<.05; **p<.01
Supplemental Analysis 2: Only including checking account as the indicator of asset ownership.
TABLE S2 Results of Structural Equations Analysis (N=142)a
Variables / Model 1Independent variables
Financial knowledge / .041
Knowledge of social programs / .112
Comfort level with financial services / –.327**
Evaluation of formal financial institutions / –.044
Financial management / –.215*
Control variables
Female / –.017
Age (ref: <65 years old)
65 years old or older / .011
Missing / –.167
Age at immigration: 55 years old or older / –.143
Ethnicity (ref: Chinese or Taiwanese)
Korean / .114
Other / .129
Education (ref: less than high school)
High school diploma / .206
Bachelor’s degree or higher / .093
Speaking English well or very well / .031
Good health / –.254*
Currently married / .051
Household size (ref: 1 member)
2 members / –.108
3 or more members / –.160
Owning checking account / .030
Visa status at entry (ref: immigration visa)
Worker or student visa / –.012
Other / .037
Survey location (ref: Los Angeles)
Orange County / –.050
New York City / .005
a. Standardized regression coefficients are reported in the table.
*p<.05; **p<.01
Supplemental Analysis 3: Replacing the age at immigration variables with the number of years that respondents stayed in the US.
TABLE S3 Results of Structural Equations Analysis (N=130)a
Variables / Model 1Independent variables
Financial knowledge / –.159
Knowledge of social programs / .362
Comfort level with financial services / –.336**
Evaluation of formal financial institutions / .110
Financial management / –.348**
Control variables
Female / .086
Age (ref: <65 years old)
65 years old or older / –.057
Year in the US / –.082
Ethnicity (ref: Chinese or Taiwanese)
Korean / .112
Other / .160
Education (ref: less than high school)
High school diploma / .213
Bachelor’s degree or higher / .160
Speaking English well or very well / .067
Good health / –.229*
Currently married / .048
Household size (ref: 1 member)
2 members / –.145
3 or more members / –.257
Owning credit card / –.152
Owning checking account / .031
Owning long-term savings / .031
Homeownership / –.132
Visa status at entry (ref: immigration visa)
Worker or student visa / –.006
Other / .066
Survey location (ref: Los Angeles)
Orange County / –.053
New York City / –.046
a. Standardized regression coefficients are reported in the table.
*p<.05; **p<.01