Abstract

http://ssrn.com/abstract=2328998
 


 



Do Financial Networks Matter in Retirement Investment Decisions? Experimental Survey Evidence


Yunhyung Chung


University of Idaho - College of Business & Economics

Youngkyun Park


University of Idaho - College of Business & Economics

September 20, 2013


Abstract:     
Using experimental survey data collected from Generation Yers (aged 20-35 in 2012), we investigate the influence of financial literacy and network intensity (network strength with the financially literate) on retirement investment decisions. We find first that respondents’ financial literacy is positively related to their selection on “no default.” Second, respondents having a high level of financial literacy or network intensity are likely to allocate more to stocks. Last, a positive relationship between financial literacy and stock allocation is significant only among those who have high network intensity. The finding suggests that the positive effects of financial literacy on stock allocation documented by the literature can be limited to those who have strong networks with financially literate people.

Number of Pages in PDF File: 39

Keywords: Retirement investment, financial literacy, financial networks

JEL Classification: G11, H31, J26

working papers series


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Date posted: September 22, 2013  

Suggested Citation

Chung, Yunhyung and Park, Youngkyun, Do Financial Networks Matter in Retirement Investment Decisions? Experimental Survey Evidence (September 20, 2013). Available at SSRN: http://ssrn.com/abstract=2328998 or http://dx.doi.org/10.2139/ssrn.2328998

Contact Information

Yunhyung Chung
University of Idaho - College of Business & Economics ( email )
Moscow, ID 83944-3174
United States
Youngkyun Park (Contact Author)
University of Idaho - College of Business & Economics ( email )
Moscow, ID 83944-3174
United States
208-885-7154 (Phone)
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