A Canonical Correlation Analysis of Financial Risk-Taking by Australian Households

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Author(s)
West, Tracey
Worthington, Andrew C
Griffith University Author(s)
Year published
2013
Metadata
Show full item recordAbstract
This paper examines the relationships between a range of alternative proxies commonly used to represent financial risk-taking, including self-reported risk-taking attitude and direct stock and business ownership, and a set of personal attributes, including age, education, sex, household structure, household income, and net assets. This allows us to throw light on the complex interrelationships between financial risk-taking attitudes and behavior, the purported socioeconomic and demographic determinants of risk-taking attitudes, and some specification issues that commonly apply in this area of research.This paper examines the relationships between a range of alternative proxies commonly used to represent financial risk-taking, including self-reported risk-taking attitude and direct stock and business ownership, and a set of personal attributes, including age, education, sex, household structure, household income, and net assets. This allows us to throw light on the complex interrelationships between financial risk-taking attitudes and behavior, the purported socioeconomic and demographic determinants of risk-taking attitudes, and some specification issues that commonly apply in this area of research.
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Journal Title
Consumer Interests Annual
Volume
59
Publisher URI
Copyright Statement
© 2013 American Council on Consumer Interests. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
Subject
Household finance and financial literacy
Financial economics
Marketing