The Role of Subjective Social Status between Family Economic Stress and Life Satisfaction in Korea: Focusing on Household Heads

다국어 초록 (Multilingual Abstract)

The purpose of the current study was to examine the mediation and moderation roles of subjective social status (SSS) in the relationships between family economic stress and life satisfaction among household heads in Korea. To test the conceptual framework, mediation and moderation regression models were employed, using the 18th wave from the Korean Labor and Income Panel Study (KLIPS) data which was collected in 2015. The final sample was 5,969 household heads. Results are as follows. First, household heads’ SSS was directly influenced by multiple independent variables in objective economic hardships (i.e., family per capital income, household net worth) and subjective economic strain (i.e., self-rated financial situation, satisfaction of household income). Also, SSS had a direct positive effect on life satisfaction. Second, SSS mediated partially the effects of self-rated financial situation and satisfaction of income as subjective economic stressors and fully the effect of family per capita income as an objective economic stressor on life satisfaction. Third, SSS played a moderating role in the associations between family per capital income and household heads’ life satisfaction, and between satisfaction of income and the life satisfaction. These empirical results of the present study were discussed by validating or extending the existing literature regarding SSS. Several implication and suggestion, limitations, and future research directions for social work practice and policy makers are discussed.

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