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B1a Family Economic Pressure and Confidence in Financial Capability
Key Words
Financial decision maker, financial confidence, personal financial capability, economic pressure
Short Description
Barber and Odean (2001) established overconfident investor behavior (excessive stock trading) as evidence of irrational financial decision making, exposing families to unnecessary financial risks. The purpose of this study is to add to the work in financial confidence or financial self-efficacy through examination of both over- and under-estimation of personal financial capability and its link to family economic pressure. Previous research has identified that overconfident household financial decision makers were more likely to engage in imprudent financial decisions, however, the connection between financial self-efficacy and family economic pressure has been underexplored.
First & Corresponding Author
Isha Chawla, Iowa State University
Authors in the order to be printed
Isha Chawla, Jonathan Fox, Suzanne Bartholomae