Financial risk tolerance: An analysis of unexplored factors

Gibson, RJ; Michayluk, D; Van de Venter, G

Financial risk tolerance: An analysis of unexplored factors

Gibson, RJ Michayluk, D

Van de Venter, G

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Publisher:: Academy of Financial Services
Publication Type:: Journal Article
Citation:: Financial Services Review, 2013, 22 (1), pp. 23 - 50
Issue Date:: 2013-01

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Field	Value	Language
dc.contributor.author	Gibson, RJ	en_US
dc.contributor.author	Michayluk, D https://orcid.org/0000-0001-9020-0855	en_US
dc.contributor.author	Van de Venter, G	en_US
dc.date.issued	2013-01	en_US
dc.identifier.citation	Financial Services Review, 2013, 22 (1), pp. 23 - 50	en_US
dc.identifier.issn	1057-0810	en_US
dc.identifier.uri	http://hdl.handle.net/10453/23532
dc.description.abstract	Using data from a survey alliance between Kiplinger's Personal Finance Magazine, PBS's Nightly Business Report, and FinaMetrica, this study explores various demographical and attitudinal factors related to financial risk tolerance. Investigating risk tolerance scores of more than 2,000 individuals immediately after the 2008 Global Financial Crisis, we find a positive relationship between risk tolerance and income, investment knowledge and positive stock market expectations. Risk tolerance is found to be lower for females, older individuals, those that currently use a financial advisor and individuals that perceive the stock market to be riskier than two years before.	en_US
dc.publisher	Academy of Financial Services	en_US
dc.relation.ispartof	Financial Services Review	en_US
dc.title	Financial risk tolerance: An analysis of unexplored factors	en_US
dc.type	Journal Article
utslib.citation.volume	1	en_US
utslib.citation.volume	22	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
utslib.for	1501 Accounting, Auditing and Accountability	en_US
dc.location.activity	Melbourne, Australia
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
pubs.organisational-group	/University of Technology Sydney/Faculty of Business/Finance Discipline
utslib.copyright.status	open_access
pubs.consider-herdc	true	en_US
pubs.issue	1	en_US
pubs.volume	22	en_US

Abstract:

Using data from a survey alliance between Kiplinger's Personal Finance Magazine, PBS's Nightly Business Report, and FinaMetrica, this study explores various demographical and attitudinal factors related to financial risk tolerance. Investigating risk tolerance scores of more than 2,000 individuals immediately after the 2008 Global Financial Crisis, we find a positive relationship between risk tolerance and income, investment knowledge and positive stock market expectations. Risk tolerance is found to be lower for females, older individuals, those that currently use a financial advisor and individuals that perceive the stock market to be riskier than two years before.

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http://hdl.handle.net/10453/23532