A Canonical Correlation Analysis of Financial Risk-Taking by Australian Households

Consumer Interests Annual, 2013

Posted: 28 Jun 2013

Date Written: 2013

Abstract

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

West, Tracey and Worthington, Andrew C., A Canonical Correlation Analysis of Financial Risk-Taking by Australian Households (2013). Consumer Interests Annual, 2013, Available at SSRN: https://ssrn.com/abstract=2286492

Tracey West (Contact Author)

Griffith University ( email )

170 Kessels Road
Nathan, Queensland QLD 4111
Australia

Andrew C. Worthington

Griffith University ( email )

170 Kessels Road
Nathan, Queensland 4111
Australia
+61 (0)7 3735 4273 (Phone)
+61 (0)7 3735 3719 (Fax)

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