This paper uses proprietary data comprising of 4,155 participants who attended financial education seminars conducted by a major U.S. consumer credit counseling agency in 2007. In this study, knowledge gained from attending the seminars is estimated using a multivariate regression model. Results...

This study uses data from the Panel Study of Income Dynamics to examine whether self-regulation, proxied by regularly dining together with family, is associated with better financial preparedness and greater wealth accumulation across time among households. Findings reveal that individuals who...

The purpose of this study is to explore the demand for robo-advising services by analyzing the participants’ behavioral characteristics and investment patterns. With the 2015 Financial Industry Regulatory Authority Investor data, we found that robo-advisor users were younger investors with...

Digital financial literacy is an emerging concept that emphasizes necessary knowledge and skills to carry out financial transactions on digital platforms. In this study, we aim to examine the link between digital financial literacy and financial well-being among Korean adults. Using online...

This paper uses proprietary data comprising of 4,155 participants who attended financial education seminars conducted by a major U.S. consumer credit counseling agency in 2007. In this study, knowledge gained from attending the seminars is estimated using a multivariate regression model. Results...

This study uses data from the Panel Study of Income Dynamics to examine whether self-regulation, proxied by regularly dining together with family, is associated with better financial preparedness and greater wealth accumulation across time among households. Findings reveal that individuals who...

This paper uses data from the National Longitudinal Survey to examine the differences in individual financial market participation among native-born and immigrant Americans. The results indicate that when compared with natives, immigrants are less likely to own financial assets. A decomposition...

Frequent shifting of household portfolio composition may erode wealth due to poor market timing and transaction costs. If household preferences are stable, the optimal wealth maximizing strategy is periodically rebalancing to maintain a relatively constant ratio of investment assets to wealth...

Frequent shifting of household portfolio composition may erode wealth due to poor market timing and transaction costs. If household preferences are stable, the optimal wealth maximizing strategy is periodically rebalancing to maintain a relatively constant ratio or investment assets to wealth...

This paper uses data from the Survey of Consumer Finances to determine the characteristics of people who obtained high-interest loans to meet their short-term financing needs. Results indicate that individuals who were denied credit in the past were one and a half times more likely to borrow...