Xiao, 1995

Xiao, J. J. (1995). Patterns of
household financial asset ownership. Financial Counseling and Planning,
6, 99-106.

Patterns of Household Financial Asset Ownership

Jing J. Xiao (1)

Patterns of household financial
asset ownership were investigated with data from the 1989 Survey of Consumer
Finance. In terms of ownership associations between two assets, 22 pairs (61%)
of assets showed positive effects on each other. For instance, owning a savings
accounts increases the chance of owning checking accounts, and vice versa.
Eight pairs (22%) did not affect each other in terms of ownership. Four pairs
(11%) negatively influenced the ownership on each other. The remaining two
pairs (6%) showed asymmetrical effects. These results may help planners better
understand client behavior in owning various financial assets.


Key Words: financial assets,
individual investors, saving, Survey of Consumer Finance


1. Jing J. Xiao, Assistant Professor, Consumer Affairs Program, College of
Human Science and Service, University of Rhode Island, Kingston, RI 02881.
Phone: (401) 874-4036. Fax: (401) 874-2581. E-mail: xiao@uriacc.uri.edu

* Helpful comments from Sherman Hanna and the anonymous reviewers on the
earlier versions of the paper are highly appreciated. The study is supported by
University of Rhode Island Research Council.

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