A Canonical Correlation Analysis of Financial Risk-Taking by Australian Households
Consumer Interests Annual, 2013
Posted: 28 Jun 2013
Date Written: 2013
This paper examines the relationships between a range of alternative proxies commonly used to represent financial risk-taking, including self-reported risk-taking attitude and direct stock and business ownership, and a set of personal attributes, including age, education, sex, household structure, household income, and net assets. This allows us to throw light on the complex interrelationships between financial risk-taking attitudes and behavior, the purported socioeconomic and demographic determinants of risk-taking attitudes, and some specification issues that commonly apply in this area of research.
Keywords: financial risk-taking, HILDA Survey
JEL Classification: D10
Suggested Citation: Suggested Citation