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Author: Palmer, Lance
Resulting in 1 citation.
1. Bhargava, Vibha
Palmer, Lance
Chatterjee, Swarn
Stebbins, Richard
Supportive and Mitigating Factors Associated with Financial Resiliency and Distress
Financial Planning Review 1,3-4 (September-December 2018): e1023.
Cohort(s): NLSY79
Publisher: Wiley Online
Keyword(s): Bankruptcy; Financial Behaviors/Decisions; Human Capital; Social Capital; Wealth

Permission to reprint the abstract has not been received from the publisher.

The associations between and among general human capital, financial management behavior, and social capital with an individual's financial position following bankruptcy are examined in this study. Using data from the National Longitudinal Survey of Youth 1979, the significance of each type of capital or practice associated with two separate measures of financial well‐being following bankruptcy are estimated. Results indicate that individuals who possess higher levels of general human capital, social capital, and normative financial management behavior are significantly more likely to both recover financially following bankruptcy, as well as experience lower levels of financial distress when compared to individuals with similar amounts of nonfinancial capital. Study results suggest that postbankruptcy education programs should encourage human and social capital development in addition to financial education as a means to increase the likelihood of financial wealth accumulation following bankruptcy. Implications for financial planners include the consideration of clients' general human capital and social capital when seeking to mitigate potential shocks to client's financial capital.
Bibliography Citation
Bhargava, Vibha, Lance Palmer, Swarn Chatterjee and Richard Stebbins. "Supportive and Mitigating Factors Associated with Financial Resiliency and Distress." Financial Planning Review 1,3-4 (September-December 2018): e1023.