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Three Essays on Behaviors Related to...

Nam, Youngwon.

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Three Essays on Behaviors Related to Life Insurance Holdings and Financial Capability.

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Three Essays on Behaviors Related to Life Insurance Holdings and Financial Capability./
作者:	Nam, Youngwon.
出版者:	Ann Arbor : ProQuest Dissertations & Theses, : 2020,
面頁冊數:	147 p.
附註:	Source: Dissertations Abstracts International, Volume: 82-06, Section: B.
Contained By:	Dissertations Abstracts International82-06B.
標題:	Home economics. -
電子資源:	https://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=28225646
ISBN:	9798684613012

Three Essays on Behaviors Related to Life Insurance Holdings and Financial Capability.
Nam, Youngwon.

Three Essays on Behaviors Related to Life Insurance Holdings and Financial Capability. - Ann Arbor : ProQuest Dissertations & Theses, 2020 - 147 p.

Source: Dissertations Abstracts International, Volume: 82-06, Section: B.

Thesis (Ph.D.)--The Ohio State University, 2020.

This item must not be sold to any third party vendors.

This dissertation consists of three related research studies on life insurance holdings and financial capability. The first research study investigates the association of risk aversion in single-parent households with at least one child under age 18 with life insurance ownership. Analyzing the 1992 to 2013 Survey of Consumer Finances datasets, it reveals that the probability of ownership of term life insurance declines as risk aversion increases, while the probability of owning cash-value life insurance increases as risk aversion increases. Smokers, an alternative measure of risk tolerance, are less likely to have term life insurance but more likely to have cash-value life insurance than comparable non-smokers.The second research study examines the adequacy to which households protect against financial risk in the event of the death of the income earners. Findings show which household characteristics are associated with being adequate in financial protection with newly improved measurements. Analyzing the 2016 Survey of Consumer Finances, this study also investigates the role financial knowledge for the adequacy of financial protection using an innovative instrumental variable approach for financial knowledge. Findings suggests that two distinct constructs of financial knowledge, objective and subjective financial knowledge, are significant determinants of the adequacy of financial protection. The results shed light on the importance of financial knowledge for the protection against financial shocks. Focusing on lower-income adults who are nearing retirement, the third research study explores the relationship between financial-planning behaviors (paying bills on time, emergency savings, and retirement planning) and two key components of financial capability, financial education and financial inclusion. Using data from the 2015 National Financial Capability Study, the results point to the important role of financial inclusion for financial-planning behaviors. Having access to mainstream financial services is more strongly associated with the three financial-planning behaviors than is participating in financial education in the workplace. These results for lower-income older adults held for middle-income households but are weaker for higher-income households. The results highlight efforts targeting financial inclusion for the financial planning of lower-income older adults nearing retirement age. Policy implications include suggestions for interventions to facilitate financial inclusion for those nearing retirement age.

ISBN: 9798684613012Subjects--Topical Terms:

551902
Home economics.
Subjects--Index Terms:

Life insurance

Three Essays on Behaviors Related to Life Insurance Holdings and Financial Capability.
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