This study analyzes whether the documented gender gap in financial literacy also exists among men and women of college age. It further explores factors effecting financial literacy levels, including choice of college major, family engagement, and prior financial exposure. The impact of subjective and objective assessments of individuals’ financial literacy is correlated with their money behaviors and confidence levels. By providing insight on how some young women relate to financial matters and integrate finance into their lives, the findings suggest that earlier exposure to financial concepts, either through educational formats or social venues, would significantly increase young women’s financial literacy.
Our main goal is to examine the different types of factors that might explain why females (1) do not enter and (2) do not stay in the financial services industry. We are going to look at the following set of factors: (1) demographic (family), (2) education and experience related, (3) environment related (such as experience at prior firms and the attitude towards women at those firms), and (4) knowledge.
Associate Professor of Finance, California State University Northridge
The Department of Finance, Financial Planning and Insurance offers a B.S. in Finance, with Options in Financial Analysis, Financial Planning and Insurance. Finance majors receive among the highest average starting salaries of business graduates.The B.S. in Finance is designed for... Read More →
Sunday October 1, 2017 9:00am - 9:50am CDT
Mockingbird 1
It is widely accepted that financial planning for retirement is deemed wise and essential to maintain an equally sound financial quality of life post-career. However, retirement health care planning and long-term care planning do not receive similar accolade. A comprehensive financial plan should not only include a path to wealth strategies, it should also account for the potential expenses related to health care coverage and long-term care coverage. This paper posits that the likelihood of an individual who has considered retirement health care planning or considered long-term care planning increases when receiving financial advice from a professional financial planner. Such findings are confirmed by means of a robust survey study encompassing a representative sample.
The purpose of this study was to expand the financial risk tolerance literature by testing the associations between macroeconomic variables and financial risk tolerance and country level social support and financial risk tolerance.
We provide leading-edge teaching, research and outreach that improves the economic well-being for families, increases the quality of life in communities and prepares future leaders and entrepreneurs.Our graduates are entrepreneurs, financial planners, consumer journalists, community... Read More →
Sunday October 1, 2017 9:00am - 9:50am CDT
Mockingbird 3
Regulators worldwide list factors to be considered in determining a client's "investor profile". These usually include tolerance, time horizon, knowledge or experience, risk capacity and more. Risk Capacity is generally considered to be the ability of a consumer to deal with the downside risk of investing - do they have debt or fixed payments required, do they have pensions contributing to the goals etc? Common belief is that when a client has lower "capacity", the appropriate course of action is recommending a more conservative portfolio with lower volatility and hence downside exposure. This research explores how this common approach is flawed.
