Donald C. Clark/HSBC Chair in Consumer Finance
Professor of Finance, Kellogg School of Management, Northwestern University
"There is a strong correlation between individual educational achievement and family socioeconomic background"
There is a strong correlation between individual educational achievement and family socioeconomic background. However, parents transmit to their children not only human capital, income, wealth, and genetic traits but also a specific set of cultural values.
This presentation summarized Prof. Sapienza’s research on the effects of culture on educational attainment. In the first part, she described her work on Long-Term Orientation and educational attainment of first and second generation immigrants in the U.S. and around the world. In the second part, she talked about some of her recent work on the effects of exposure to immigrant peers on the educational outcomes of native students in the U.S.