2019 Session I: Round Room

Bo Wang
wang.6207@osu.edu
Human Sciences, Consumer Sciences
Sherman Hanna, Advisor

Investigating the Role of Financial Literacy in Stock Market Participation: Empirical Evidence From 2016 Survey of Consumer Finances

Financial literacy is the confluence of financial management and the knowledge, which affects individual’s investment decisions. This project aims to answer two important questions: Do individuals in the U.S possess adequate financial literacy? How does financial literacy affect individual’s incentive to participate in stock market?


Dongyue Ying
ying.133@osu.edu
Human Sciences, Consumer Sciences
Sherman Hanna, Advisor 

Risk Preference on Financial Search Behavior –Differential Effect on Borrowing and Saving Decisions

This study uses SCF2016 data to illustrate the possible causal effect of risk preference on individual’s financial searching behavior, including both searching for credit and investment. To isolate the effect, relationship between risk, financial literacy, and education is discussed, while both Heckman Selection Model and RII technique are adopted.


Lini Zhang
zhang.8955@osu.edu
Educational Studies, Higher Education and Student Affairs

The Effectiveness of School-Based Financial Education on Financial Literacy: Evidence from a Randomized Experiment

A randomized experiment was conducted in this study to examine the effectiveness of school-based financial education on the development of students’ financial literacy, where financial literacy is measured by both financial knowledge and financial confidence.


Sunwoo Lee
lee.8148@osu.edu
Human Sciences, Consumer Sciences
Sherman Hanna, Advisor

Determinants of Subjective Emergency Fund Adequacy

Analyses of the 2016 Survey of Consumer Finances (SCF) found that respondents believed 1.4 months’ worth of expense as proper amount of emergency fund at median.
Objective financial literacy and saving horizon were positively related, while subjective financial literacy and alternative options were negatively related to emergency fund ratio.