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Not a Black and European-Americans question: how are investor behavior and perceptions related to race and ethnicity?

This paper explores racial/ethnical differences among investors’ risk tolerance, confidence, and asset ownership. The data for this study is derived from a national telephone survey conducted at a regional Midwest university. The data collection began by purchasing 7,500 phone numbers from Survey Sa...

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Main Authors: Hira, Tahira K., Sabri, Mohamad Fazli, Loibl, Caezilia
Format: Article
Language:English
Published: Malaysian Consumer and Family Economics Association 2015
Online Access:http://psasir.upm.edu.my/id/eprint/14077/1/Not%20a%20Black%20and%20European-Americans%20question%20how%20are%20investor%20behavior%20and%20perceptions%20related%20to%20race%20and%20ethnicity.pdf
http://psasir.upm.edu.my/id/eprint/14077/
http://www.majcafe.com/2017/04/09/vol-18-2015/
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spelling my.upm.eprints.140772018-09-04T08:09:27Z http://psasir.upm.edu.my/id/eprint/14077/ Not a Black and European-Americans question: how are investor behavior and perceptions related to race and ethnicity? Hira, Tahira K. Sabri, Mohamad Fazli Loibl, Caezilia This paper explores racial/ethnical differences among investors’ risk tolerance, confidence, and asset ownership. The data for this study is derived from a national telephone survey conducted at a regional Midwest university. The data collection began by purchasing 7,500 phone numbers from Survey Sampling International. Potential households were selected by targeting phone numbers from the sample in geographical areas with average household incomes of $100,000 per year or higher. Results show that among higher income investors, African-Americans were less likely to invest in corporate stocks and bonds; Asian-Americans expressed particularly high investor confidence and had a preference for purchasing Certificates of Deposit (CDs); Hispanic-Americans expressed significantly lower risk tolerance and lower holdings of corporate stocks. These findings indicate that community-based financial education should be aware of these racial/ethnic characteristics and aim to tailor educational interventions to it, where possible. These findings offer valuable insights to educators, financial planners and financial 115 institutions offering these products. Malaysian Consumer and Family Economics Association 2015 Article PeerReviewed text en http://psasir.upm.edu.my/id/eprint/14077/1/Not%20a%20Black%20and%20European-Americans%20question%20how%20are%20investor%20behavior%20and%20perceptions%20related%20to%20race%20and%20ethnicity.pdf Hira, Tahira K. and Sabri, Mohamad Fazli and Loibl, Caezilia (2015) Not a Black and European-Americans question: how are investor behavior and perceptions related to race and ethnicity? Malaysian Journal of Consumer and Family Economics, 18. pp. 114-129. ISSN 1511-2802 http://www.majcafe.com/2017/04/09/vol-18-2015/
institution Universiti Putra Malaysia
building UPM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Putra Malaysia
content_source UPM Institutional Repository
url_provider http://psasir.upm.edu.my/
language English
description This paper explores racial/ethnical differences among investors’ risk tolerance, confidence, and asset ownership. The data for this study is derived from a national telephone survey conducted at a regional Midwest university. The data collection began by purchasing 7,500 phone numbers from Survey Sampling International. Potential households were selected by targeting phone numbers from the sample in geographical areas with average household incomes of $100,000 per year or higher. Results show that among higher income investors, African-Americans were less likely to invest in corporate stocks and bonds; Asian-Americans expressed particularly high investor confidence and had a preference for purchasing Certificates of Deposit (CDs); Hispanic-Americans expressed significantly lower risk tolerance and lower holdings of corporate stocks. These findings indicate that community-based financial education should be aware of these racial/ethnic characteristics and aim to tailor educational interventions to it, where possible. These findings offer valuable insights to educators, financial planners and financial 115 institutions offering these products.
format Article
author Hira, Tahira K.
Sabri, Mohamad Fazli
Loibl, Caezilia
spellingShingle Hira, Tahira K.
Sabri, Mohamad Fazli
Loibl, Caezilia
Not a Black and European-Americans question: how are investor behavior and perceptions related to race and ethnicity?
author_facet Hira, Tahira K.
Sabri, Mohamad Fazli
Loibl, Caezilia
author_sort Hira, Tahira K.
title Not a Black and European-Americans question: how are investor behavior and perceptions related to race and ethnicity?
title_short Not a Black and European-Americans question: how are investor behavior and perceptions related to race and ethnicity?
title_full Not a Black and European-Americans question: how are investor behavior and perceptions related to race and ethnicity?
title_fullStr Not a Black and European-Americans question: how are investor behavior and perceptions related to race and ethnicity?
title_full_unstemmed Not a Black and European-Americans question: how are investor behavior and perceptions related to race and ethnicity?
title_sort not a black and european-americans question: how are investor behavior and perceptions related to race and ethnicity?
publisher Malaysian Consumer and Family Economics Association
publishDate 2015
url http://psasir.upm.edu.my/id/eprint/14077/1/Not%20a%20Black%20and%20European-Americans%20question%20how%20are%20investor%20behavior%20and%20perceptions%20related%20to%20race%20and%20ethnicity.pdf
http://psasir.upm.edu.my/id/eprint/14077/
http://www.majcafe.com/2017/04/09/vol-18-2015/
_version_ 1643825523653083136
score 13.211869

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