The Risk Tolerance Measure in the 2016 Survey of Consumer Finances: New, But Is It Improved?

被引：2

作者：

Kim, Kyoung Tae ^{[1
]}

Hanna, Sherman D. ^{[2
]}

Ying, Dongyue ^{[3
]}

机构：

[1] Univ Alabama, Dept Consumer Sci, 316-C Adams Hall,Box 870158, Tuscaloosa, AL 35487 USA

[2] Ohio State Univ, Coll Educ & Human Ecol, Dept Human Sci, 1787 Neil Ave,Room 115A, Columbus, OH 43210 USA

[3] Ohio State Univ, Coll Educ & Human Ecol, Dept Human Sci, 235A Campbell Hall,1787 Neil Ave, Columbus, OH 43210 USA

来源：

JOURNAL OF FINANCIAL COUNSELING AND PLANNING | 2021年 / 32卷 / 01期

关键词：

equity ownership; measure evaluation; risk tolerance; Survey of Consumer Finances;

D O I：

10.1891/JFCP-19-00022

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The Survey of Consumer Finances (SCF) has included a 4-level risk tolerance measure since 1983. In 2016, the SCF also included an 11-level risk tolerance measure. We compare the two measures, and develop suggestions for using the new measure. While the new measure is seemingly simpler than the old measure, we demonstrate that it does not have a monotonic relationship with owning stock assets, with a pattern similar to the relationship of the old measure to stock ownership. We also identify complex patterns of factors related to different levels of the new measure, for instance education has a negative relationship at one level but positive at another level. Those using the new measure should consider the complex patterns we demonstrate.

引用

页码：86 / 103

页数：18

共 50 条

[1] 1960 SURVEY OF CONSUMER FINANCES
MAYNES, ES
[J]. JOURNAL OF POLITICAL ECONOMY, 1962, 70 (04) : 426 - 427
[2] SURVEY OF CEYLONS CONSUMER FINANCES
REID, MG
[J]. AMERICAN ECONOMIC REVIEW, 1956, 46 (05): : 956 - 964
[3] ISRAELS SURVEY OF CONSUMER FINANCES
KREININ, ME
[J]. JOURNAL OF FINANCE, 1958, 13 (04): : 488 - 498
[4] New Evidence on Asset Location from the Survey of Consumer Finances
Jinjarak, Yothin
Zhou, Jie
[J]. PUBLIC FINANCE REVIEW, 2011, 39 (04) : 594 - 615
[5] SAMPLING FOR THE 1947 SURVEY OF CONSUMER FINANCES
GOODMAN, R
[J]. JOURNAL OF THE AMERICAN STATISTICAL ASSOCIATION, 1947, 42 (239) : 439 - 448
[6] A financial sophistication proxy for the Survey of Consumer Finances
Huston, Sandra J.
Finke, Michael S.
Smith, Hyrum
[J]. APPLIED ECONOMICS LETTERS, 2012, 19 (13) : 1275 - 1278
[7] Behind the Numbers: Understanding the Survey of Consumer Finances
Hanna, Sherman D.
Kim, Kyoung Tae
Lindamood, Suzanne
[J]. JOURNAL OF FINANCIAL COUNSELING AND PLANNING, 2018, 29 (02): : 410 - 418
[8] 1960 SURVEY OF CONSUMER FINANCES - 1961 SURVEY OF CONSUMER FINANCES - KATONA,G, LININGER,CA, MORGAN,JN, MUELLER,E
KRUGMAN, HE
[J]. CONTEMPORARY PSYCHOLOGY, 1963, 8 (02): : 64 - 65
[9] 1960 SURVEY OF CONSUMER FINANCES - SURVEY-RES-CTR
NAMIAS, J
[J]. JOURNAL OF MARKETING, 1962, 26 (01) : 123 - 124
[10] 1960 SURVEY OF CONSUMER FINANCES - SURVEY-RES-CTR
TOUSLEY, RD
[J]. JOURNAL OF FINANCE, 1962, 17 (03): : 559 - 560

← 1 2 3 4 5 →