Individual financial risk tolerance and the global financial crisis
We investigate individual investors’ tolerance towards financial risk by focusing on changes associated with the global financial crisis (GFC) of 2007–2009. Financial risk tolerance (FRT) is analysed longitudinally controlling for demographic, socio‐economic and regional variations. In absolute term...
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| Veröffentlicht in: | Accounting and finance (Parkville) 2015-03, Vol.55 (1), p.165-185 |
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| container_title | Accounting and finance (Parkville) |
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| creator | Gerrans, Paul Faff, Robert Hartnett, Neil |
| description | We investigate individual investors’ tolerance towards financial risk by focusing on changes associated with the global financial crisis (GFC) of 2007–2009. Financial risk tolerance (FRT) is analysed longitudinally controlling for demographic, socio‐economic and regional variations. In absolute terms, the change in FRT is small and contrasts with a popular view that risk tolerance is an elastic psychological state overly influenced by the pervading market conditions. Even in the presence of significant financial events, FRT tends to be a reasonably stable attribute in the shorter term but possibly influenced and reshaped by events more gradually over time. |
| doi_str_mv | 10.1111/acfi.12053 |
| format | Article |
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| identifier | ISSN: 0810-5391 |
| ispartof | Accounting and finance (Parkville), 2015-03, Vol.55 (1), p.165-185 |
| issn | 0810-5391 1467-629X |
| language | eng |
| recordid | cdi_proquest_journals_1664942132 |
| source | Wiley Online Library Journals Frontfile Complete; Business Source Complete |
| subjects | Economic crisis FinaMetrica Financial risk tolerance Global economy Global financial crisis International finance Investors Psychological aspects Risk attitude Risk exposure Studies |
| title | Individual financial risk tolerance and the global financial crisis |
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