EconPapers    
Economics at your fingertips  
 

Financial Risk Attitude and Behavior: Do Planners Help Increase Consistency?

Eric Park () and Rui Yao ()
Additional contact information
Rui Yao: University of Missouri

Journal of Family and Economic Issues, 2016, vol. 37, issue 4, No 9, 624-638

Abstract: Abstract This study is the first to evaluate the effect of sources of information on households’ consistency between their risk attitude when making savings and investment decisions and risk behavior displayed when they do save and invest. As the responsibility is being shifted to individuals to save for their own financial future, it is important that individuals and households save and invest in a manner that is consistent with their financial risk tolerance. Financial planners were found to provide significant value to households on the consistency of their financial risk attitude and behavior. The implications of this work are far-reaching in the financial planning arena.

Keywords: Financial behavior; Financial planner; Risk tolerance; Survey of consumer finance (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://link.springer.com/10.1007/s10834-015-9469-9 Abstract (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:kap:jfamec:v:37:y:2016:i:4:d:10.1007_s10834-015-9469-9

Ordering information: This journal article can be ordered from
http://www.springer. ... es/journal/10834/PS2

DOI: 10.1007/s10834-015-9469-9

Access Statistics for this article

Journal of Family and Economic Issues is currently edited by Joyce Serido

More articles in Journal of Family and Economic Issues from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2025-03-19
Handle: RePEc:kap:jfamec:v:37:y:2016:i:4:d:10.1007_s10834-015-9469-9