References
- Antolin, P., Payet, S., & Yermo, J. (2010) ‘Assessing default investment strategies in defined contribution pension plans’, OECD Journal: Financial Market Trends, 2010 (1), pp. 87-115.
- ASIC. (2016) ‘Shadow shopping survey on superannuation advice’, ASIC, Report 69 (April 2006).
- Bandura, A. (1997) Self-efficacy: The exercise of control: Macmillan.
- Basu, A. K., Byrne, A., & Drew, M. E. (2009) ‘Dynamic lifecycle strategies for target date retirement funds’, Available at SSRN 1302586.
- Basu, A. K., & Drew, M. E. (2007) Portfolio size and lifecycle asset allocation in pension funds, Paper presented at the The 15th Annual Conference on Pacific Basin Finance, Economics, Accounting and Management, Ho Chi Minh City, Vietnam.
- Ben-Shahar, O., & Schneider, C. (2011) ‘The Failure of Mandated Disclosure’, University of Pennsylvania Law Review, 159:3, pp. 647-749.
- Bodie, Z., & Treussard, J. (2007) ‘Making investment choices as simple as possible, but not simpler’, Financial Analysts Journal, 63:3, pp. 42-47.
- Brandstätter, H. (1997) ‘Becoming an entrepreneur—a question of personality structure?’ Journal of Economic Psychology, 18:2, pp. 157-177.
- Brandstätter, H. (2011) ‘Personality aspects of entrepreneurship: A look at five meta-analyses’, Personality and individual differences, 51:3, pp. 222-230.
- Brennan, M. J., Schwartz, E. S., & Lagnado, R. (1997) ‘Strategic asset allocation’, Journal of Economic Dynamics and Control, 21:8, pp. 1377-1403.
- Byrne, A., Dowd, K., Blake, D. P., & Cairns, A. J. (2006) ‘There’s no time like the present: the cost of delaying retirement saving’, Financial services review, 15:3.
- Campbell, J. Y., & Viceira, L. M. (2003) ‘Strategic asset allocation’, Financial Counseling and Planning, 14:1, pp. 63-65.
- Campbell, T. C., Gallmeyer, M., Johnson, S. A., Rutherford, J., & Stanley, B. W. (2011) ‘CEO optimism and forced turnover’, Journal of Financial Economics, 101:3, pp. 695-712.
- Chavali, K. (2016) ‘Impact of demographic variables and risk tolerance on investment decisions: An empirical analysis’, International journal of economics and financial issues, 6:1, pp. 169-175.
- De Meza, D., & Southey, C. (1996) ‘The borrower’s curse: optimism, finance and entrepreneurship’, The Economic Journal, pp. 375-386.
- Disney, R., & Gathergood, J. (2013) ‘Financial literacy and consumer credit portfolios’, Journal of Banking & Finance, 37:7, pp. 2246-2254.
- Droms, W. G., & Strauss, S. N. (2003) ‘Assessing risk tolerance for asset allocation’, Journal of Financial Planning, 16:3, pp. 72-77.
- Eychenne, K., Martinetti, S., & Roncalli, T. (2011) ‘Strategic Asset Allocation’, Available at SSRN 2154021.
- Fischer, G., & Ghatak, M. (2010) ‘Repayment frequency in microfinance contracts with present-biased borrowers’, Economic Organisation and Public Policy Discussion Papers Series, 21:1, pp. 1-28.
- Fisher, R. J. (1993) ‘Social desirability bias and the validity of indirect questioning’, Journal of Consumer Research, pp. 303-315.
- Flyvbjerg, B. (2008) ‘Curbing optimism bias and strategic misrepresentation in planning: Reference class forecasting in practice’, European Planning Studies, 16:1, pp. 3-21.
- FOFA Bill (Corporations Amendment (Financial Advice Measures)), (2016).
- FOS. (2015, 20th November) Q&A with Financial Ombudsman Service, Paper presented at the Financial Planning Association National Congress, Brisbane.
- Gathergood, J. (2012) ‘Self-control, financial literacy and consumer over-indebtedness’, Journal of Economic Psychology, 33:3, pp. 590-602.
- Gerrans, P. (2015) ‘Individual financial risk tolerance and the global financial crisis’, Accounting and finance (Parkville), 55:1, pp. 165-185.
- Gerrard, J. (2016, 6th June 2016) Financial adviser fees - new model emerges. The Australian. Retrieved from http://www.theaustralian.com.au/business/wealth/financial-adviser-fees--new-model-emerges/news-story/d4aae9ca311c59159eb1876d44430014
- Gomes, F. J., Kotlikoff, L.J., Viceira, L.M. (2008) ‘Optimal Life cycle Investing with Flexible Labor Supply: a Welfare Analysis of Life Cycle Funds’, NBER Working Paper Series, No. 13966.
- Grable, J., Lytton, R., & O’Neill, B. (2004) ‘Projection bias and financial risk tolerance’, The Journal of Behavioral Finance, 5:3, pp. 142-147.
- Grable, J., & Lytton, R. H. (1999) ‘Financial risk tolerance revisited: the development of a risk assessment instrument’, Financial services review, 8:3, pp. 163-181.
- Hanna, S. D., & Chen, P. (1997) ‘Subjective and objective risk tolerance: Implications for optimal portfolios’, Financial Counseling and Planning.
- Hanna, S. D., Gutter, M. S., & Fan, J. X. (2001) ‘A measure of risk tolerance based on economic theory’, Financial Counseling and Planning, 12:2, pp. 53-60.
- Harris, J. A. (2004) ‘Measured intelligence, achievement, openness to experience, and creativity’, Personality and individual differences, 36:4, pp. 913-929.
- Hunt, K. H. M., Brimble, M., & Freudenberg, B. (2011) ‘Determinants of Client-Professional Relationship Quality in the Financial Planning Setting’, Australiasian Accounting Business and Finance Journal, 5:2, pp. 69-100.
- Jappelli, T., & Padula, M. (2013) ‘Investment in financial literacy and saving decisions’, Journal of Banking & Finance, 37:8, pp. 2779-2792.
- Kimball, M. S., Sahm, C. R., & Shapiro, M. D. (2008) ‘Imputing risk tolerance from survey responses’, Journal of the American Statistical Association, 103:483, pp. 1028-1038.
- Kinnier, R. T., Kernes, J. L., & Dautheribes, T. M. (2000) ‘A Short List of Universal Moral Values’, Counseling and Values, 45:1, pp. 4-16.
- Klapper, L., Lusardi, A., & Panos, G. A. (2013) ‘Financial literacy and its consequences: Evidence from Russia during the financial crisis’, Journal of Banking & Finance, 37:10, pp. 3904-3923.
- Landier, A., & Thesmar, D. (2009) ‘Financial contracting with optimistic entrepreneurs’, Review of Financial Studies, 22:1, pp. 117-150.
- Mac Donald JR, A. P. (1970) ‘Revised scale for ambiguity tolerance: Reliability and validity’, Psychological reports, 26:3, pp. 791-798.
- Markowitz, H. M. (1952) ‘Portfolio selection’, The Journal of Finance, 7:1, pp. 77-91.
- Markowitz, H. M. (1989) Mean—Variance Analysis: Springer.
- Nelson, J. A. (2015) ‘Are Women Really More Risk-Averse than Men? A Re-Analysis of the Literature Using Expanded Methods’, Journal of Economic Surveys, 29:3, pp. 566-585.
- Nguyen, T. M. L. (2015) ‘The influence of financial risk tolerance and risk perception on individual investment decision-making in a financial advice context’ Doctoral Thesis.
- Puri, M., & Robinson, D. T. (2007) ‘Optimism and economic choice’, Journal of Financial Economics, 86:1, pp. 71-99.
- Rahmawati. (2015) ‘Determinants of the risk tolerance of individual investors’, International journal of economics and financial issues, 5, pp. 373-378.
- Rose, S. (2106, 8th June 2016) ASIC launches action against NSG Services in first FOFA ‘best interests’ case, The Sydney Morning Herald. Retrieved from http://www.smh.com.au/business/banking-and-finance/asic-launches-action-against-nsg-services-in-first-fofa-best-interests-case-20160608-gpeh1a.html
- Roszkowski, M. J., & Grable, J. E. (2005) ‘Estimating risk tolerance: The degree of accuracy and the paramorphic representations of the estimate’, Journal of Financial Counseling and Planning, 16:2, pp. 29-47.
- Schelling, T. C. (1978) ‘Egonomics, or the art of self-management’, The American Economic Review, pp. 290-294.
- Schuldberg, D. (2005) ‘Eysenck Personality Questionnaire Scales and Paper-and-Pencil Tests Related to Creativity’, Psychological reports, 97:1, pp. 180-182.
- Seaward, H. G., & Kemp, S. (2000) ‘Optimism bias and student debt’, New Zealand journal of psychology, 29:1, pp. 17-19.
- Sharpe, J. P., Martin, N. R., & Roth, K. A. (2011) ‘Optimism and the Big Five factors of personality: Beyond neuroticism and extraversion’, Personality and individual differences, 51:8, pp. 946-951.
- Shefrin, H. M., & Thaler, R. H. (1977) ‘An economic theory of self-control’, National Bureau of Economic Research Cambridge, Mass., USA.
- Shleifer, A. (2000) Inefficient Markets: An introduction to behavioural finance: OUP Oxford.
- Sung, J., & Hanna, S. (1996) ‘Factors related to risk tolerance’, Financial Counseling and Planning, 7:1, pp. 11-20.
- Takeuchi, K. (2011) ‘Non-parametric test of time consistency: Present bias and future bias’, Games and Economic Behavior, 71:2, pp. 456-478.
- Thompson, E. R. (2009) ‘Individual entrepreneurial intent: Construct clarification and development of an internationally reliable metric’, Entrepreneurship Theory and Practice, 33:3, pp. 669-694.
- USA-Department-of-Treasury. (2006) ‘Taking Ownership of the Future’, The National Strategy for Financial Literacy, Foreword Part 1, p. V.
- Van de Venter, G., Michayluk, D., & Davey, G. (2012) ‘A longitudinal study of financial risk tolerance’, Journal of Economic Psychology, 33:4, pp. 794-800.
- Viceira, L. M. (2007) Life-cycle funds. Cambridge, MA, USA: Harvard University.
- Willis, L. (2008) ‘Against Financial Literacy Education’, Iowa Law Review, 94.
- Yang, S., Markoczy, L., & Qi, M. (2007) ‘Unrealistic optimism in consumer credit card adoption’, Journal of Economic Psychology, 28:2, pp. 170-185.
- Yusof, S. A. (2015) ‘Household bargaining, financial decision-making and risk tolerance’, International journal of business and society, 16:2, pp. 221-236.
Language: English
Page range: 49 - 63
Submitted on: Jun 9, 2016
Accepted on: Aug 29, 2016
Published on: Mar 17, 2024
Published by: Financial Advice Association of Australia
In partnership with: Paradigm Publishing Services
Publication frequency: 2 issues per year
Keywords:
Related subjects:
© 2024 Katherine Hunt, published by Financial Advice Association of Australia
This work is licensed under the Creative Commons Attribution 4.0 License.