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1 – 1 of 1Yoshihiko Kadoya, Mostafa Saidur Rahim Khan and Tomomi Yamane
This study aims to examine the demographic, socio-economic and personality determinants of financial scams.
Abstract
Purpose
This study aims to examine the demographic, socio-economic and personality determinants of financial scams.
Design/methodology/approach
This study uses data on scams collected in Hiroshima prefecture in Japan for the analysis and analyzes using the logit regression model.
Findings
The results show that the current level of financial dissatisfaction increases the probability of being a victim of a financial scam. No other demographic or socio-economic factor is related to incidents of financial scams. Using the “big five personality traits,” this study finds that lower conscientiousness is the only personality trait that increases the probability of being a victim of a financial scam.
Research limitations/implications
Overall, the results suggest that people with low conscientiousness could be easy targets of financial scams and financially dissatisfied people could engage in potentially risky and fraudulent projects.
Originality/value
Financial scams are a long-standing concern for Japan. Every year, an increasing number of financial scams are being reported, though there are very few empirical studies examining victims’ profiles and other determining factors.
Details