Predicting Financial Risk Tolerance and Risk-Taking Behaviour: A Comparison of Questionnaires and Tests
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Online veröffentlicht: 19. März 2024
Seitenbereich: 21 - 39
Eingereicht: 24. März 2020
Akzeptiert: 19. Sept. 2020
DOI: https://doi.org/10.2478/fprj-2020-0002
© 2020 John E. Grable et al., published by Sciendo
This work is licensed under the Creative Commons Attribution 4.0 International License.
Descriptive and correlational data for the knowledge, likelihood, and experience items
| Mean | S.D. | Barsky Corr. | H&L Corr. | Propensity Corr. | |
|---|---|---|---|---|---|
| Casino Knowledge | 4.13 | 2.63 | 0.11 | 0.10 | 0.26 |
| Gambling Likelihood | 2.25 | 2.14 | 0.08 | 0.01 | 0.18 |
| Financial Decision Experience | 5.70 | 2.22 | 0.16 |
0.05 | 0.12 |
| Investing Knowledge | 4.71 | 2.46 | 0.15 |
0.17 |
0.34 |
Descriptive and correlational data for demographic items
| Mean | S.D. | Barsky Corr. | H&L Corr. | Propensity Corr. | |
|---|---|---|---|---|---|
| Gender (1 = Male; 2 =Female) | 1.60 | 0.49 | -0.15 | -0.15 | -0.13 |
| Age | 25.94 | 6.48 | 0.06 | 0.05 | -0.00 |
| Personal Income | 2.98 | 2.40 | -0.01 | 0.01 | 0.04 |
| Household Income | 4.95 | 3.62 | -0.06 | 0.03 | 0.08 |
| Education | 4.87 | 1.06 | -0.04 | -0.06 | -0.00 |
Descriptive and correlational data for asset allocation items
| Mean | S.D. | Barsky Corr. | H&L Corr. | Propensity Corr. | |
|---|---|---|---|---|---|
| Cash Assets | 68.47 | 36.13 | -0.01 | -0.12 | -0.23 |
| Fixed-Income | 4.33 | 9.01 | -0.05 | 0.01 | 0.07 |
| Equities | 16.99 | 27.58 | 0.01 | 0.08 | 0.20 |
| Business Ownership | 2.53 | 9.90 | 0.01 | -0.01 | 0.07 |
| Real Estate | 2.64 | 9.40 | -0.03 | -0.01 | 0.11 |
| Hard Assets | 5.07 | 13.39 | 0.05 | 0.05 | 0.14 |
Estimates of risk-taking by risk tolerance score
| Would You Like to Participate in the Game? | N | Barsky M SD S.E. Mean | H&L M SD S.E. Mean | Propensity M SD S.E. Mean |
|---|---|---|---|---|
| 27 | 2.26 0.90 0.17 |
4.22 1.48 0.28 |
26.52 5.13 0.99 |
|
| 13 | 2.08 0.64 0.18 |
4.15 1.07 0.30 |
22.92 3.71 1.03 |
|
Descriptive and correlational data for the risk rolerance measures
| Range | Mean | S.D. | Barsky Corr. | H&L Corr. | Propensity Corr. | Self-Rated Risk Tolerance Corr. | SCF Risk Item Corr. | |
|---|---|---|---|---|---|---|---|---|
| Barsky | 1 – 4 | 2.20 | 0.88 | 1.00 | ||||
| H&L | 1 – 7 | 4.21 | 1.30 | 0.26 |
1.00 | |||
| Propensity | 13 - 44 | 26.10 | 4.66 | 0.21 |
0.28 |
1.00 | ||
| Self-Rated RT | 1 – 10 | 4.11 | 2.19 | 0.18 |
0.18 |
0.42 |
1.00 | |
| SCF Risk Item | 1 – 4 | 1.58 | 0.50 | 0.17 |
0.14 | 0.44 |
0.44 |
1.00 |
Predictions of risk-taking by risk tolerance score
| N | Barsky M SD S.E. Mean | H&L M SD S.E. Mean | Propensity M SD S.E. Mean | |
|---|---|---|---|---|
| 13 | 2.15 0.69 0.19 |
4.15 1.07 0.30 |
22.85 3.72 1.03 |
|
| 8 | 2.25 0.89 0.31 |
4.00 1.85 0.65 |
23.88 4.82 1.71 |
|
| 19 | 2.21 0.92 0.21 |
4.32 1.34 0.31 |
27.69 4.90 1.12 |
|