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Role of Knowledge and Risk Tolerance in Emerging Adults’ Financial Planning Behavior

여정희|조수현|Lorna Saboe
한국소비자정책교육학회 (Korean Society of Consumer Policy and Education)|2013.09|소비자정책교육연구 (Consumer Policy and Education Review)|제9권 제3호|pp. 107-125

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키워드

위험감수도성인 초기risk toleranceemerging adultsobjective financial knowledgesubjective financial knowledgefinancial planning behavior재무계획행동객관적 재무지식주관적 재무지식

초록

The purpose of this research was to identify how risk tolerance and financial knowledge level influence financial planning behavior of emerging adults in order to identify critical gaps in knowledge for this age cohort. Financial knowledge was measured from an objective and subjective perspective. Financial planning behavior was identified as a composite measure over six financial domains, and later examined individually. Overall, risk tolerance level, objective and subjective financial knowledge of emerging adults were found associated with engaging in a financial planning behavior. When specifically examined, risk tolerance level was positively associated with investment behavior. Objective financial knowledge was positively associated with whether or not one has a retirement plan. Subjective financial knowledge was positively connected to possessing an emergency fund. Implications for improving financial planning behavior of young adults are also discussed.

Abstract

The purpose of this research was to identify how risk tolerance and financial knowledge level influence financial planning behavior of emerging adults in order to identify critical gaps in knowledge for this age cohort. Financial knowledge was measured from an objective and subjective perspective. Financial planning behavior was identified as a composite measure over six financial domains, and later examined individually. Overall, risk tolerance level, objective and subjective financial knowledge of emerging adults were found associated with engaging in a financial planning behavior. When specifically examined, risk tolerance level was positively associated with investment behavior. Objective financial knowledge was positively associated with whether or not one has a retirement plan. Subjective financial knowledge was positively connected to possessing an emergency fund. Implications for improving financial planning behavior of young adults are also discussed.

참고문헌 (41)

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