The Effect of Sociodemographic Variables and Love of Money on Financial Risk Tolerance of Bankers

Adem Anbar and Melek Eker
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Adem Anbar: Bursa Uludag University
Melek Eker: Bursa Uludag University

Business and Economics Research Journal, 2019, vol. 10, issue 4, 855-866

Abstract: The purpose of this study is to explore the effect of sociodemographic variables and love of money on financial risk tolerance levels among bankers. The sociodemographic variables used in the study are age, gender, marital status, number of children, education, monthly income, years in occupation and sector (public or private). The study also investigates the relationship between love of money which is one of the personal characteristics and financial risk tolerance. Data is gathered from 259 bankers with a structured questionnaire. Results of the multiple regression analysis show that while there is a positive and significant relationship between number of children, education, and monthly income and financial risk tolerance, there is a negative and significant relationship between marital status and years in occupation. According to t-test and ANOVA analysis, there are significant differences in financial risk tolerance level according to the love of money, age, number of children, level of education, and years in occupation.

Keywords: Financial Risk; Financial Risk Tolerance; Bankers (search for similar items in EconPapers)
JEL-codes: G11 G20 G41 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (1)

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