This study is the empirical research to find out the determinant factors by which the interfamily income transfers are motivated in Korea, to analyze the comparative effects of the economic classes for the size of interfamily transfer incomes. Economi...
This study is the empirical research to find out the determinant factors by which the interfamily income transfers are motivated in Korea, to analyze the comparative effects of the economic classes for the size of interfamily transfer incomes. Economic classes are divided into the five categories - low 1st class, 2nd class, middle class, 4th class, high 5th class - in terms of the parent`s wealth level. Major findings through the multiple regression analysis are as follows: First, the parent group of middle class got the most sizable benefits from their children, followed by the group 2nd class, followed by the group 1st class. The parent group of high 5th class has the least. Second, in terms of dependency for interfamily transfer income, the parent group of 1st class is the most dependent, followed by the group 2nd class, followed by the middle class. The parent group of high 5th class is depended the least for interfamily transfer incomes. Third, the most important factors to affect interfamily income transfers are children`s concerns for their parent. The factors of parent`s economic resources is not significant. These findings may concludes that interfamily income transfer in Korea can be explained by the motive for filialty.