Personal Attributes and Financial Risk-Taking in Australia

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Author(s)
West, Tracey
Worthington, Andrew
Griffith University Author(s)
Year published
2014
Metadata
Show full item recordAbstract
Using a bootstrapped sample of respondents from the Household Income and Labour Dynamics in Australia (HILDA) survey, we employ canonical correlation analysis to examine the relationships between financial risk-taking (as measured by self-reported financial risk-taking attitude, direct share ownership, and business ownership) and age, gender, education, household structure, income and wealth. Though all three measures are good indicators of financial risk-taking, we find direct share ownership is influential as a whole, followed by self-reported risk-taking, and finally business ownership. Of the personal attributes identifying ...
View more >Using a bootstrapped sample of respondents from the Household Income and Labour Dynamics in Australia (HILDA) survey, we employ canonical correlation analysis to examine the relationships between financial risk-taking (as measured by self-reported financial risk-taking attitude, direct share ownership, and business ownership) and age, gender, education, household structure, income and wealth. Though all three measures are good indicators of financial risk-taking, we find direct share ownership is influential as a whole, followed by self-reported risk-taking, and finally business ownership. Of the personal attributes identifying financial risk-taking, the most important positive correlates are wealth, followed at some distance by income and then education.
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View more >Using a bootstrapped sample of respondents from the Household Income and Labour Dynamics in Australia (HILDA) survey, we employ canonical correlation analysis to examine the relationships between financial risk-taking (as measured by self-reported financial risk-taking attitude, direct share ownership, and business ownership) and age, gender, education, household structure, income and wealth. Though all three measures are good indicators of financial risk-taking, we find direct share ownership is influential as a whole, followed by self-reported risk-taking, and finally business ownership. Of the personal attributes identifying financial risk-taking, the most important positive correlates are wealth, followed at some distance by income and then education.
View less >
Journal Title
JASSA
Volume
1
Publisher URI
Copyright Statement
© 2014 JASSA and the Authors. 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
Accounting, auditing and accountability
Banking, finance and investment
Finance