JFCP Research Journal
Terry L. Zivney and James P. Hoban, Jr.
Several papers have shown that very low turnover of assets within the mutual fund is the key to high tax efficiency. In contrast, Constantinides (1984) prescribes a nearly 100% annual turnover because tax law provides the direct investor in securities with two valuable timing options. While a mutual fund investor... Read More >
Alice M. Crites, Patricia A. Behal, Virginia A. Haldeman, and Kymberley K. Bennett
Parents of young children who participated in a home-study family financial management program reported a change in their financial behaviors following participation in the lessons. These parents, who subscribed to Money Sense for Your Children (a six-lesson parent newsletter series), changed the way they teach their children about money, changed... Read More >
John P. Caskey
This paper analyzes payday lending. Payday lenders generally make uncollateralized loans of $100 to $500 that borrowers agree to repay within about two weeks. Annualized interest rates on these loans are typically 400% or more. This paper explains the key features of payday loan contracts, reviews data profiling payday loan... Read More >
Sherman D. Hanna, Michael S. Gutter and Jessie X. Fan
Self-reported risk tolerance is a measurement of an individual's willingness to accept risk, making it a valuable tool for financial planners and researchers alike. Prior subjective risk tolerance measures have lacked a rigorous connection to economic theory. This study presents an improved measurement of subjective risk tolerance based on economic... Read More >
Barbara O'Neill
Author: Barbara Ehrenreich & Publisher: Owl Books Read More >
Kyung-Wook Cha and Robert O. Weagley
Using the 1992-93 Baccalaureate and Beyond Longitudinal Study and 1997 follow-up, this study examined which factors influence the decision to borrow and the amount of borrowing for higher education. A double-hurdle model was applied to analyze both the decision to borrow and the borrowed amount equations. Current income and asset... Read More >
Joyce A. Cavanagh and Deanna L. Sharpe
This study used the 1998 Survey of Consumer Finances to examine the relationship between consumer debt levels and discretionary retirement savings in IRAs, Keoghs, 401(k)s, 403(b)s, thrift savings and supplemental retirement annuities. Results of a two-stage analysis indicated that installment debt deterred participation in discretionary retirement savings. Among those who... Read More >
Piotr Zielonka
The paper describes how Polish financial analysts associate various kinds of measures with future stock prices. Forty financial analysts participated in a questionnaire with items including macroeconomic, political news and technical analysis signals derived from commentaries in Polish economic newspapers. The analysts were asked what market movement they would expect... Read More >
Ronald P. Volpe, Joseph E. Kotel and Haiyang Chen
This study surveyed 530 online investors to examine their investment literacy and the relationship between the literacy and online investor characteristics. Online investors answered about 50% of questions correctly. Investors 50 years of age or older were more knowledgeable than those who are younger. Women had lower levels of investment... Read More >
Shawn D. Howton, Shelly W. Howton and Gerard T. Olson
This article examines the role of the exchange listing on the initial and aftermarket performance of Initial Public Offerings (IPOs). IPOs on the NASDAQ had larger initial and aftermarket returns when compared to IPOs on the NYSE. These results suggest that it may be important for individual investors purchasing IPOs... Read More >
Jeanne M. Hogarth and Marianne A. Hilgert
Using the 1995 and 1998 Survey of Consumer Finances, we provide a profile of households with high- rate home-secured loans and explore the extent to which these loans reflect risk-based pricing. We find that risk-related characteristics are determinants of having high-rate loans, but that race, marital status, age, education, region,... Read More >
Jessie X. Fan and John R. Burton
The purpose of this study was to identify an array of goods that college students believe indicate social status. Data from a survey of almost 400 students at the University of Utah were analyzed. Commodities considered status-conveying all have the feature of being either easily seen by others or easily... Read More >