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Source: Review of Finance
Resulting in 2 citations.
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Jiang, Danling Lim, Sonya S. |
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Trust and Household Debt Review of Finance 22,2 (1 March 2018): 783-812. Also: https://academic.oup.com/rof/article/22/2/783/2439518 Cohort(s): NLSY79 Publisher: Oxford University Press Keyword(s): Bankruptcy; Debt/Borrowing; Discrimination, Age; Financial Behaviors/Decisions; Foreclosure; Net Worth; Trust Permission to reprint the abstract has not been received from the publisher. Using a large sample of US individuals, we show that individuals with higher levels of trust have lower likelihoods of default in household debt and higher net worth. The effect is driven by trust values inherited from cultural and family backgrounds more than by trust beliefs about others. We demonstrate a causal impact of trust on financial outcomes by extracting the component of trust correlated with early-life experiences. The effect of trust is more pronounced among females, those with lower education, lower income, lower financial literacy, and higher debt-to-income ratio. Further evidence suggests that enhancing individuals' trust, to the right amount, can improve household financial well-being. |
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Bibliography Citation
Jiang, Danling and Sonya S. Lim. "Trust and Household Debt." Review of Finance 22,2 (1 March 2018): 783-812.
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| 2. |
Liao, Chi |
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ADHD Symptoms and Financial Distress Review of Finance 25,4 (July 2021): 1129-1210. Also: https://academic.oup.com/rof/article/25/4/1129/5824803 Cohort(s): Children of the NLSY79, NLSY79 Young Adult Publisher: Oxford University Press Keyword(s): Attention/Attention Deficit; Financial Behaviors/Decisions Permission to reprint the abstract has not been received from the publisher. We examine the effect of attention-deficit/hyperactivity disorder (ADHD) on individual-level financial distress. ADHD is the most common mental disorder among children and is characterized by behaviors such as inattention, hyperactivity, and impulsiveness that interfere with school and home life. In a representative panel, we find that individuals with more severe ADHD symptoms during childhood have more difficulty paying bills and are more likely to be delinquent on bill payments in adulthood. Further, those with more severe symptoms are less likely to have precautionary savings and more likely to have to delay buying necessities. These effects exist across the full range of ADHD symptom scores and are not driven by the most severe cases of ADHD; this is consistent with recent evidence that ADHD symptoms occur on a continuum. Preliminary evidence suggests that medication for behavioral issues may mitigate the effect of ADHD symptoms on financial distress. |
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Bibliography Citation
Liao, Chi. "ADHD Symptoms and Financial Distress." Review of Finance 25,4 (July 2021): 1129-1210.
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