Miranda Reiter, Martin Seay, Maurice MacDonald, Sonya Lutter, and Ajamu Loving

The purpose of this study was to examine the likelihood of consumers hiring a financial planner based on race and gender utilizing an experimental design. Using a sample of Black and White MTurk respondents, cumulative logistic regression was employed to determine the effects of race and gender on the likelihood... Read More >

Julie Birkenmaier, and Qiang (John) Fu

This study examined the U.S. household financial access trends during 2012–2018 after the Great Recession of 2007–2009. Data was from a nationally representative sample (n=2,094) of adults from the American Life Panel who completed questions from the National Financial Capability Study (NFCS) in 2012 and 2018. Latent transition analysis (LTA)... Read More >

Michael Guillemette, and Yi Liu

Although risk preferences and inheritance expectations should affect annuitization decisions, few studies have empirically tested these relations. This study bridges the gap in the prior literature by investigating potential effects that consumer risk aversion and inheritance expectations have on annuitization. Using data from the 2012 wave of the Health and... Read More >

John E. Grable, and Eun-Jin Kwak

This paper adds to the existing literature on financial risk aversion and risk taking by testing the possibility that a person’s degree of disappointment aversion, as an anticipatory emotion, may be an antecedent of risk-taking behavior. In this regard, the purpose of this paper is to introduce two interrelated measures—the... Read More >

Don Lux and Laura Kauzlarich

The purpose of this paper is to utilize decision tree (DT) analysis to examine the relationship between income level, financial satisfaction, financial confidence, financial knowledge, and several demographics with a goal of better understanding desirable financial behavior. The emphasis of this analysis is focused particularly upon better understanding the role... Read More >

Kyoung Tae Kim, Jae Min Lee, and Sharon A. DeVaney

This study explores the association between financial knowledge and financial fragility. Data from the 2015 National Financial Capability Study were used to create an index of financial fragility. Relationships between this index and three different measures of financial knowledge were assessed. To mitigate potential endogeneity in the financial knowledge measures,... Read More >

Ana C. Silva, Allison E. Seitchik, and Jane D. Parent

This paper summarizes a field-based experiment exploring an individual and small-group financial coaching intervention. Both types of coaching programs had the same goal: to develop clients' financial capability through a series of planned meetings focusing on client driven goals. Results indicated clients who were coached either individually or in groups... Read More >

Ivy S.H. Hii, Poh Ling Ho, Ching Seng Yap, and Abey P. Philip

The study examined the influence of financial literacy and financial advice on individuals’ stock market participation in Malaysia. Using survey data from 216 individuals aged 18 years old and above, this study revealed that both financial literacy and financial advice were positively associated with the likelihood of participating in the... Read More >

Yilan Xu and Rui Yao

In this paper, we projected household financial vulnerability in the COVID-19 pandemic. Using a nationally representative sample of households from the 2017 Panel Study of Income Dynamics (PSID), we analyzed potential changes in financial status in the pandemic resulting from loss of income and savings from discretionary consumption. We provided... Read More >

Axton Betz-Hamilton

Identity theft victims often experience negative financial, emotional, and physical consequences.  Many cases of identity theft are perpetrated by family members, yet little is known about consequences familial identity theft victims experience and how they may differ from those who were victimized by a non-relative.  The purpose of this study... Read More >

Shane Enete, Martin Seay, Sarah Asebedo, David Wang, and Megan McCoy

The purpose of this paper is to show that emotions matter when predicting the financial wellbeing of U.S. households. The broaden and build theory was used to predict that positive emotions would be positively associated with financial wellbeing and negative emotions would be negatively associated with financial wellbeing. Using a... Read More >

Julie M. Szendrey and Laci A. Fiala

This research examined how parental communication and family resources provided during adolescence relate to domain-specific financial management behaviors for a sample of 1,245 young adults age 18 to 34. Using data collected by an online survey administration organization, bivariate analysis results indicated that higher levels of parental communication about proper... Read More >