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2022 Annual Conference

du 19 au 21 May 2022

Sheraton Sand Key, Clearwater Beach, FL, US

Proposal authors can use this tool to see where they have been placed in the program agenda for an Oral or Poster Session.

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Confirm your place in the schedule by going to the ACCI Presenter Confirm Google Sheet and marking your session with the name and email address of the author who will be attending and presenting. Each presentation must have a separate paid registraint. Contact the ACCI Office immedicately by email at admin@consumerinterests.org to report a conflict or if you have questions. Please be sure to reference the session title(s), date(s), and time(s) if you contact us.

C2b Is Using a Financial Advisor Related to Cryptocurrency Investment?

vendredi 20 mai 2022 à 10:45–12:15 EDT
Room 2
Key Words

Cryptocurrency, Financial Advisors, NFCS Investor Survey, Investment

Short Description

Cryptocurrency investment has emerged as a popular option for those seeking financial investment. It is important for individual investors to understand the potential risks and rewards of cryptocurrency before they choose to invest in it. It also is relevant for financial advisors to understand its appeal and potential impact on their clients. While existing research has studied the cryptocurrency investment, it has not examined the important relationship between cryptocurrency investment and the use of a financial advisor. The current study focuses on that relationship. Human capital theory argues that individuals who leverage the knowledge of a financial advisor will make better financial decisions. Using the 2018 NFCS Investor survey, this paper estimates a probit model to examine the cryptocurrency investment decision of investors. It shows that investors who use a financial advisor are more likely to be invested in cryptocurrency. This implies that financial advisors may be recommending cryptocurrency investment. There are important implications from this study for current and future investment trends that carry significant volatility. As technology improves and humanity progresses, more complex and intriguing investment opportunities will become available and it will be the responsibility of investment professionals, individual investors, and regulators, to appropriately navigate the complexities.

Submitter

Alex Brockbank, Texas Tech University

Authors

Alex Brockbank, Texas Tech University
Charlene Kalenkoski, Texas Tech University
Chargement en cours …