This study uses the 1992-2010 Survey of Consumer Finances to analyze whether the likelihood of life insurance ownership and the face value amount of life insurance changes for minorities as household size changes. We find that the likelihood of life insurance ownership declines for black and...

A great deal of research has studied the use of margin from an overall market perspective. However, very little has been observed regarding household decisions around margin use. The 2018 wave of the National Financial Capability Study Investor Survey provides unique insight into household...

Using the 2008 Survey of Chinese Consumer Finance and Investor Education and the 2007 Survey of Consumer Finances, this study compared saving motives between Chinese and American urban households. Results showed that, compared with their American counterparts, Chinese households were more likely...

Financial counseling and education becomes more important in the recent economic crisis. Financial ratios quantify household financial well-being and can provide a quick and easy way to identify household financial strengths and weaknesses. Using the survey method, this study investigates the...

Investment in the securities markets is vital to households' wealth accumulation and financial security. Using data from the 2008 Survey of Chinese Consumer Finance and Investor Education, we found that self-assessed investment knowledge and having a long-term financial plan were positively...

This paper studies the how financial decision power is allocated within a household and how it is related to wealth production. Evidence from the Health and Retirement Study (HRS) shows that both the absolute and relative values of husband's and wife's personality and cognitive ability predict...