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...

The relationship between meeting the Capital Accumulation Ratio Guideline and retirement adequacy was investigated. About 63% of the households had a consistent relationship between meeting the 25% ratio guideline and being adequately prepared for retirement, with 46% of households both meeting...

This article focuses on the effect of race and ethnicity on financial risk tolerance. Blacks and Hispanics are less likely to be willing to take some financial risk but more likely to be willing to take substantial financial risk than Whites, after controlling for the effects of other variables....

Using six Survey of Consumer Finances cross-sectional datasets representing the years 1983-2001, this study investigates changes in financial risk tolerance levels over time. Logit analyses are performed to test changes in risk tolerance, controlling for respondent and household characteristics....

The elderly population in China has grown since 1999. Many Chinese businesses have noticed this trend and began to focus on the Gray Market. The behavior of older Chinese consumers has significantly changed. Descriptions of their behavior in previous research need to be updated. This paper uses...

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...

Blocking is a useful technique to control systematic variation in experiments. Robust parameter design is widely used as an effective tool to reduce process variability by appropriate selection of control factors to make the process insensitive to noise. In this paper, we propose and study a...