A longitudinal study of financial risk tolerance

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dc.contributor.author Van de Venter, G
dc.contributor.author Michayluk, D
dc.contributor.author Davey, G
dc.date.accessioned 2012-10-12T03:34:56Z
dc.date.issued 2012-01
dc.identifier.citation Journal of Economic Psychology, 2012, 33 (4), pp. 794 - 800
dc.identifier.issn 0167-4870
dc.identifier.other C1 en_US
dc.identifier.uri http://hdl.handle.net/10453/18836
dc.description.abstract Academics are divided as to whether financial risk tolerance is an enduring psychological trait and as a consequence is less likely to change over the life of an individual, or a variable psychological state which varies readily in response to internal and external influences. In this study we report the findings of a longitudinal study that investigates the annual change in financial risk tolerance scores of individuals over a 5. year period and the factors that influence such change. Our results indicate a relatively small annual change in individuals' financial risk tolerance. Although our regression model is ineffective in providing a clarification for a change in the financial risk tolerance scores of individual respondents, we find a slight decrease in financial risk tolerance associated with a decrease in household size and an increase in financial risk tolerance after terminating the services of a financial planner. From our results we propose that financial risk tolerance is a stable personality trait and is unlikely to change substantially over the life of an individual.
dc.publisher Elsevier
dc.relation.isbasedon 10.1016/j.joep.2012.03.001
dc.title A longitudinal study of financial risk tolerance
dc.type Journal Article
dc.parent Journal of Economic Psychology
dc.journal.volume 4
dc.journal.volume 33
dc.journal.number 4 en_US
dc.publocation Netherlands en_US
dc.identifier.startpage 794 en_US
dc.identifier.endpage 800 en_US
dc.cauo.name BUS.Finance en_US
dc.conference Verified OK en_US
dc.for 1402 Applied Economics
dc.personcode 030700
dc.personcode 995682
dc.percentage 100 en_US
dc.classification.name Applied Economics en_US
dc.classification.type FOR-08 en_US
dc.edition en_US
dc.custom en_US
dc.date.activity en_US
dc.location.activity en_US
dc.description.keywords Financial planning; Financial risk tolerance; Longitudinal study; Risk assessment en_US
dc.description.keywords higher education
dc.description.keywords learning spaces
dc.description.keywords professional staff
dc.description.keywords student outcomes
dc.description.keywords Financial planning
dc.description.keywords Financial risk tolerance
dc.description.keywords Longitudinal study
dc.description.keywords Risk assessment
pubs.embargo.period Not known
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
pubs.organisational-group /University of Technology Sydney/Strength - Quantitative Finance
utslib.copyright.status Closed Access
utslib.copyright.date 2015-04-15 12:17:09.805752+10
utslib.collection.history Closed (ID: 3)
utslib.collection.history Finance (ID: 371)

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