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The purpose of this paper is to derive the determinants of young adults’ subjective and objective risk attitude in theoretical and real-world financial decisions. Furthermore, a comparison of the factors that influence young adults’ and older adults’ risk attitude is provided.

The paper relies on an experimental setting and a cross-sectional field study using data of the German central bank’s (Deutsche Bundesbank) PHF-Survey.

Young adults’ objective risk aversion is not constant but increases with stake sizes. Furthermore, young adults’ subjective risk attitude is a better predictor for their objective risk attitude than a set of commonly employed socio-demographics and economics like age or income. Moreover, young adults’ subjective risk attitude works as a mediator for the influence of their investable financial wealth on their objective risk attitude. Although young adults’ subjective risk attitude shows a gender effect, the influence of young adults’ gender on their objective risk attitude decreases with higher stake sizes. Compared to older adults, young adults generally show a similar degree of subjective risk aversion. However, due to stronger financial restrictions, young adults show a higher degree of objective risk aversion.

Although individuals’ financial outcomes depend on the financial behavior established in young adulthood, there is no study that simultaneously analyzes the determinants of young adults’ subjective and objective risk attitude in real-world financial decisions with a focus on young adults as a separate age group. The paper closes this gap in literature and additionally provides a comparison of the subsamples of young adults and older adults. The analysis in this paper reveals that young adults’ lower engagement in financial markets is primarily driven by their tight budget and not by a fundamental different subjective risk attitude.

The purpose of this paper is to examine the relationships between financial knowledge, socialization and financial satisfaction with financial risk attitude and financial behavior as a mediator after demonetization and introduction of GST.

The sample consisted responses of 286 individuals from the city of Allahabad, Uttar Pradesh, India and making financial decisions for the household for at least last two years. The data were analyzed using exploratory factor analysis and mediation regression analysis.

All sub-scales used to measure constructs had satisfactory reliabilities and internal consistencies. It was found that financial risk attitude and financial behavior both mediate the relationship between financial socialization and financial satisfaction as well as between financial knowledge and financial satisfaction.

This research is based upon survey method and voluntary participation. Hence one can question generalization of findings to larger samples. Moreover, the study is limited to a restricted geographical region which could affect the generalization of findings.

Results provide insights into the antecedents of financial satisfaction of individuals from tier II city of India. Financial planners may utilize this study for enhancement of financial satisfaction of their clients and hence retention of the same.

A majority of researchers use survey without evaluation validity of instruments in the selected context and sample. This research contributed to the literature and practice by testing validation of constructs of financial satisfaction in India.

Introduction: As internet and communication technologies are getting developed, the commercial transaction is becoming more electronic. This change also brings new approaches to new payment mechanisms like emergence of crypto currencies. They are virtual and digital currencies which can only be used in electronic environment but they are increasingly treated as a new payment and investment tool. Nevertheless, their use has not spread into the general public, yet. At this point, it will better to take the complex nature of the crypto currencies into consideration because it may still lead to some risks for people and the type of the risks perceived by consumers may influence their attitudes toward and intention to use crypto currencies.

Aim: Accordingly, this study attempts to examine the interaction between perceived risk, attitudes toward and intention to use crypto currencies within the context of Bitcoin, as the first crypto currency.

Method: This study was designed as a causal research. The sample of the study was reached by using convenience sampling method and data were collected with survey. The compiled data were tested with Structural Equation Model.

Findings: A statistically significant and negative relationship was found between perceived financial, time and psychological risk and attitudes toward the use of Bitcoin, and a statistically significant and positive relationship was found between attitudes toward and intention to use Bitcoin. The findings of the study are expected to contribute to both relevant literature and practice by explaining the financial behavior of the individuals within the context of perceived risk theory.

This paper aims to examine contextual factors affecting intention to purchase energy-saving products (ESPs), via a research model integrating environmental awareness, perceived performance risk and perceived financial risk with the theory of reasoned action (TRA).

In total, 474 targeted Jordanian householders completed a structured survey, providing data for exploratory and confirmatory factor analyses and for structural path analysis to test the research model and hypotheses.

Attitude most strongly predicts purchase intention. Environmental awareness positively influences subjective norms and reduces perceived performance and financial risks, which are related to purchase intention.

This research examines perceived performance and financial risks. Others including social and physical risks have research potential. Future research on international marketing strategy and cross-cultural consumer behavior could compare Jordan with its oil-producing neighbors.

Environmental awareness affects ESP purchase intention. Marketing strategy should focus on reducing perceived functional and financial risks while enhancing subjective norms by encouraging positive word of mouth.

The findings enhance environmental sustainability by indicating ways of reducing energy consumption and increasing the usage of environmentally friendly products. The study addresses behavioral and social aspects of green products, whereas most ESP suppliers focus on technology.

The study’s major theoretical contribution is incorporating perceived risk and environmental awareness into the TRA to better understand intention to purchase ESPs. Empirically, it conceptualizes and tests an integrated model of determinants of attitudes and intentions with new insights from an emerging market.

The purpose of this study is to investigate the determinants that determine the investment behaviour of rural farmers. This study further examines the moderation effect of socio traits in the association between investment behaviour and its determined factors.

This study used a cross-sectional research design to gather information. The information for this research survey was gathered using a structured questionnaire from 400 individual investors in the rural area of Punjab, who participated in the study. It has been decided to use the Cronbach’s alpha test to determine the validity and reliability of the questionnaire. To evaluate the hypothesis, structural equation modelling has been used in the research process.

The results of this study reveal that attitude, financial risk inclination, financial planning and investment intention determine the investment behaviour of the rural people of Punjab. The results for the interaction effect of socio traits with investment intention, financial risk propensity and investment attitude were found statistically significant amongst rural people. The results of the moderation effect stated that interaction between the attitude and investment intention and financial risk propensity and investment intention is significantly influenced by age of respondents. The results further reveal that marital status of rural people affect the interaction between attitude and investment intention and financial risk propensity and investment intention. Nothing about education seems to be a moderating influence on any of the relationships studied.

The authors contribute to the literature in two aspects. Firstly, to the best of the authors’ knowledge, this is the only study of its kind that focuses on the investment behaviour of farmers. Secondly, by looking at the farmer’s investing behaviour, the moderation effect of demographic variables is also studied which set this study apart from another existing scholarly research. This study contributes to the growing literature on investment behaviour of farmers in developing and developed markets.

The purpose of this paper is to examine the extent to which individual risk attitude determines a Cambodian smallholder's choice between a commercial informal loan and a credit from a licensed microfinance institution.

The paper analyzes a sample of smallholder farmers in the Ratanakiri province in northeastern Cambodia, a country with a long history of microfinance and a saturated microcredit market. Employing a binary and a multinomial logit model, this paper assesses the effect of individual risk attitude on the choice of a financial instrument.

The results reveal a statistically significant relationship between the choice of a credit source and an individual's risk attitude: On average (c.p.) the less risk averse the smallholder is, the more they tend to prefer an unlicensed commercial lender.

The findings suggest that less risk-averse individuals tend to take up riskier and generally more expensive informal loans. Measures to increase the safe access to financial services for less risk-averse borrowers as well as improvements in financial literacy should be undertaken to protect smallholders from taking risky choices.

Although existing studies have examined the importance of risk attitudes between credit provider and borrower, they focus mainly on the lender's perspective. This paper provides new insights on how risk attitude influences the borrower's choice in Cambodia. Thus, this study is relevant for policymakers in countries with oversaturated microcredit markets and a high prevalence of informal lenders.

Prior work expresses concern about young people's rising debt and lack of financial preparedness. This study focuses on how financial socialization and psychological characteristics affect the personal financial management behavior (PFMB) of young professionals in India. The authors examine both the direct effect of these factors and the indirect effects through financial literacy and aforementioned psychological characteristics as mediators.

The authors develop a conceptual framework based on the extant literature and empirically test its hypotheses employing partial least squares structural equation modelling (PLS-SEM).

Attitude towards money, financial self-efficacy, financial risk tolerance, financial socialization through parental direct teaching and peers, and media are all positively associated with young professionals' PFMB, whereas external locus of control and procrastination are negatively associated with their PFMB. Almost all psychological characteristics partially mediate the association between financial socialization and PFMB. Finally, financial literacy plays a partially mediating role in the association between procrastination and PFMB as well as between financial socialization and PFMB.

This study helps regulators and policymakers understand PFMB among young professionals. Interventions should build on the positive role of financial socialization, cultivating a good attitude towards money and financial self-efficacy, and reducing reliance on an external locus of control and procrastination. This study also helps policymakers and financial educators develop societally beneficial personal finance programs.

This research investigates social, psychological and cognitive characteristics in a comprehensive framework to further the authors’ understanding of the topic of PFMB.

The existing literature offers various perspectives on integrating cryptocurrencies into investment portfolios; yet, there is a gap in understanding the behaviours, attitudes and cross-investment links of individual investors. This study, grounded in the modern portfolio theory and the random walk theory, aims to add empirical insights that are specific to the UK context. It explores four hypotheses related to the influence of socio-demographics, digital adoption, cross-investment behaviours and financial attitudes on cryptocurrency owners.

This study uses a logistic regression model with secondary data from the Financial Lives Survey 2020 to assess the factors impacting cryptocurrency ownership. A total of 29 variables are used, categorized into four groups aligned with the hypotheses. Additionally, hierarchical clustering analysis was conducted to further explore the cross-investment links.

The study reveals a significant lack of diversification among UK cryptocurrency investors, a pronounced inclination towards high-risk investments such as peer-to-peer lending and crowdfunding, and parallels with gambling behaviours, including financial dissatisfaction and a propensity for risk-taking. It highlights the influence of demographic traits, risk tolerance, technological literacy and emotional attitudes on cryptocurrency investment decisions.

This study provides valuable insights into cryptocurrency regulation and retail investor protection, underscoring the necessity for tailored financial education and a holistic regulatory approach for investment products with comparable risk levels, with the aim of minimizing regulatory arbitrage. It significantly enhances our understanding of the unique dynamics of cryptocurrency investments within the evolving financial landscape.

As an alternative to hiring financial specialists or investment consultants, robo-advisors offer financially automated investment services. This study aims to investigate how robo-advisors' service attributes, risk attitude and financial self-efficacy influence customers' choice preferences of adopting robo-advisors.

Two hundred fifty-one online surveys were used to collect data, and choice-based conjoint analysis was conducted.

Results show that increasing annual fees negatively impact customers' choice preferences. Promotion, general investment education and additional human assistance have a positive impact. Furthermore, risk-seeking and risk-averse customers require more human assistance than risk-neutral customer and customers with high levels of financial self-efficacy prefer more general investment education and additional human assistance than those with lower levels. In addition, customers in the older age group prefer promotion, general investment education and additional human assistance, while wealthy customers prefer lower annual fees, higher general investment education and more additional human assistance compared to middle-class and low-income groups.

This study contributes to robo-advisor providers to provide appropriate service attributes for each customer group.

Do women exhibit greater financial risk aversion than men? We answer this question using attitudinal and behavioral specifications of risk aversion drawn from the 2010 Survey of Consumer Finances (SCF). To approximate attitudinal specification of risk aversion, we use individuals’ self-reported financial risk tolerance. We use individuals’ relative risk aversion, that is, the effect of wealth on the proportion of assets categorized as risky as behavioral specification of risk aversion. We find that while women display greater attitudinal risk aversion, gender difference in behavioral risk aversion depends upon individuals’ marital status and role in household finances. Single women exhibit greater behavioral risk aversion compared to single men. However, this gender difference does not exist when we compare behavioral risk aversion of married women and men in charge of household finances.