Cross-Cultural Differences in Financial Risk Preference between Chinese and American College Students
2012-08-27
Loading...
View/Download File
Persistent link to this item
Statistics
View StatisticsJournal Title
Journal ISSN
Volume Title
Title
Cross-Cultural Differences in Financial Risk Preference between Chinese and American College Students
Authors
Published Date
2012-08-27
Publisher
Type
Thesis or Dissertation
Abstract
Generally, people can easily get an impression that Chinese people are very conservative in making monetary decisions. Empirical evidence shows that China’s saving rate is one of the highest in the world. However, are Chinese people really more risk-averse than Americans? Contradicted to the traditional stereotype, the Cushion Hypothesis suggests that people in collectivist culture, such as China, are likely to be more risk-seeking in making financial decisions. Because the closer social networks in such society serve as the “cushions” if they fall. The goal of this thesis is to investigate whether there are cross-cultural differences in financial risk preference between Chinese and American college students. If so, what role does culture play in influencing people’s risk preference? By using basic statistical tools, this study found that Chinese students were significantly more collectivistic and risk-seeking than American students and there was a positive relationship between collectivism and risk-seeking preference.
Description
Related to
Replaces
License
Collections
Series/Report Number
Funding information
Isbn identifier
Doi identifier
Previously Published Citation
Suggested citation
Zhang, Tianshi. (2012). Cross-Cultural Differences in Financial Risk Preference between Chinese and American College Students. Retrieved from the University Digital Conservancy, https://hdl.handle.net/11299/132120.
Content distributed via the University Digital Conservancy may be subject to additional license and use restrictions applied by the depositor. By using these files, users agree to the Terms of Use. Materials in the UDC may contain content that is disturbing and/or harmful. For more information, please see our statement on harmful content in digital repositories.