About the Authors
Patricia A. Behal, Changing
Financial Behaviors Through Home Study, is an associate professor at
University of Nevada, Reno and is currently the Area Family Resource Management
Specialist for the Western Area – University of Nevada Cooperative Extension.
She received her M.S. from University of Nevada, Reno, is certified in Family
and Consumer Sciences, and is an Accredited Financial Counselor. She earned
her B.S. in Home Economics Education from Texas A & I University in 1973.
Her Extension program has focused on financial management for families with
young children and financial management for women.
Kymberley K. Bennett,
Changing Financial Behaviors Through Home Study, is a doctoral student
in the Interdisciplinary Ph.D. Program in Social Psychology at the University
of Nevada, Reno. She received her B. A. in psychology from the University
of Redlands in 1996.
Richard F. Bieker, Determinants
of Employment Among Older Americans, is Professor of Economics in the
School of Management at Delaware State University. He received his B.A.
degree from Murray State University and his Ph.D. degree from the University
of Kentucky. His research interests include the economics of education,
the economics of social insurance and public assistance programs, and the
economics of retirement and retirement planning.
John P. Caskey, Payday
Lending, is a professor of economics at Swarthmore College. Over the
past decade, his research has focused on financial institutions serving lower-income
households and on topics in community economic development. He received his
B.A. from Harvard University and his Ph.D. from Stanford University.
Zhan (Sandy) Chen,
Determinants of Employment among Older Americans, is a Ph.D. candidate
in Consumer Behavior at Purdue University in West Lafayette, Indiana. Before
pursuing her Ph.D., Sandy worked as a market researcher in Shanghai and led
multiple market research projects. Her current research focuses on the consumer’s
value perception of online stores.
Alice M. Crites,
Changing Financial Behaviors Through Home Study, is an associate professor
at University of Nevada, Reno and is currently the Extension Educator for
the Northeast Clark County Extension Office in Logandale Nevada. She received
her M.S. from University of Missouri and is certified in Family and Consumer
Sciences, and is an Accredited Financial Counselor.
Sharon A. DeVaney,
Determinants of Employment among Older Americans, is an Associate Professor
in the Department of Consumer Sciences and Retailing at Purdue University.
Her current research focuses on retirement, the self-employed, financial ratios,
and financial management. She is a member of the National Initiative Management
Team for Financial Security in Later Life. She received the Family Economics
and Resource Management Research Award for 2002 at the American Association
of Family and Consumer Sciences. She earned the Ph.D. at The Ohio State University
and B.S. and M.S. degrees from South Dakota State University.
Jessie X. Fan,
A Measure of Risk Tolerance Based on Economic Theory, is an associate
professor in Family and Consumer Studies at the University of Utah. Her research
interests include household consumption, saving, borrowing, and investment
behaviors, as well as household economic well-being associated with these
behaviors. She was a winner of the McGraw-Hill Competitive Paper Award of
the Academy of Financial Services in 1991 and 1992, and won the 1994 Dissertation
Award of the American Council on Consumer Interests. She has published in
Financial Services
Review, the
Journal of Consumer Affairs,
Family and Consumer Sciences Research Journal, the
Journal of Consumer Studies and Home Economics, and the
Journal of Family and Economic Issues. She received a Ph.D. in Family
Resource Management at The Ohio State University in 1993.
John E. Grable,
Assessing the Concurrent Validity of the SCF Risk Tolerance Question
, received his undergraduate degree in economics and business from the University
of Nevada, an MBA from Clarkson University, and a Ph.D. from Virginia Tech.
He is the Certified Financial Planner(TM) Program Director at Kansas State
University. He is also the Director of the Institute of Personal Financial
Planning in the School of Family Studies and Human Services at Kansas State
University. His research interests include financial risk-tolerance assessment,
financial planning help-seeking behavior, and financial wellness assessment.
He serves on the Board of Directors of the International Association of Registered
Financial Consultants as an academic advisor.
Michael S. Gutter,
A Measure of Risk Tolerance Based on Economic Theory, is an Assistant
Professor and CFP Program Director for the Department of Consumer Science,
in the School of Human Ecology at the University of Wisconsin-Madison. He
earned his Ph.D. in Family Resource Management from The Ohio State University
in 2000. Gutter received the 1999 Texas Instruments Award for an Outstanding
Paper, for a paper presented at the Academy of Financial Services, and was
co-winner of the 2001 ACCI Dissertation Award. He has published in
Financial Services Review and
Financial Counseling and Planning. His current research interests
include understanding financial decision-making including use of debt, risk
management, and investment decision-making. One focus of this program centers
on identifying racial, ethnic, and cultural differences in the decision-making
process and in determinants of these decisions.
Virginia A. Haldeman,
Changing Financial
Behaviors Through Home Study,
a retired professor of Human Development and Family Studies at the University
of Nevada, Reno, currently resides in Mount Vernon, Washington.
Sherman D. Hanna,
A Measure of Risk Tolerance Based on Economic Theory, is a Professor
in the Department of Consumer Sciences at the Ohio State University.
He was a winner of the Texas Instruments Award of the Academy of Financial
Services in 1998, a Certified Financial Planner Board award for a paper published
in 1996, the McGraw-Hill Competitive Paper Award of the Academy of Financial
Services in 1991 and 1992, and the Applied Consumer Research Award in 1989
for a paper presented at the American Council on Consumer Interests conference.
He has published in
Financial Services Review, the
Journal of Consumer Research, the
Journal of Consumer Affairs,
Family and Consumer Sciences Research Journal, the
Journal of Consumer Studies and Home Economics,
Housing and Society,
AAII Journal,
Asia Pacific Advances in Consumer Research, and the
Journal of Family and Economic Issues. He received a B.S. in economics
from the Massachusetts Institute of Technology and a Ph.D. in consumer economics
from Cornell University.
James P. Hoban, Jr.,
In Defense of Investing in Individual Securities, is a Professor of
Finance at Ball State University. For the past 26 years, he has taught courses
in personal finance, investments, and corporate finance. He received his B.S.
degree from the University of Detroit and his M.B.A. and Ph.D. degrees from
the University of Utah. He is the author of several papers on topics in the
areas of investments and corporate finance. Additionally, he has coauthored
textbooks for investments and personal finance courses.
Ruth H. Lytton,
Assessing the Concurrent Validity of the SCF Risk Tolerance Question
, is Associate Professor of Financial Resource Management and the director
for the Certified Financial Planner ™ Board of Standards, Inc. registered
program at Virginia Tech. She has been recognized for her teaching, research,
and service. She received the 1994-95 College of Human Resources Certificate
of Teaching Excellence and in 1995 was recognized by the Association for Financial
Counseling and Planning Education (AFCPE) as the Mary Ellen Edmondson Educator
of the Year. She and John Grable were the recipients of the 1999 best conference
paper award, presented by the AFCPE, for another version of this article.
During 2001, she was recognized by the College of Human Resources and Education
with the Excellence in Undergraduate Student Advising Award and by the university
with the Award for Excellence in Career Advising. She completed her B.S.,
M.S., and Ph.D. at Virginia Tech.
D.K. Malhotra,
A Comparative Analysis of the Expense Ratios of Domestic and International
Open-End and Closed-End Equity Funds, is an associate professor of finance
at Philadelphia University. His research interests are interest rate swaps,
currency swaps, credit derivatives, mutual funds, and application of neural
network and neuro-fuzzy techniques in finance. Dr. Malhotra has published
over 30 research articles in such journals as
European Journal of Operational Research,
Journal of Financial Research,
Financial Review,
European Journal of Finance,
Quarterly Journal of Business and Economics, Journal of Economics and Finance
, Journal of Multinational
Financial Management,
Journal of Retail Banking,
The Real Estate Finance Journal,
The International Journal of Finance,
Journal of Intelligent Systems,
Advances in Futures and Options Research,
Journal of Commercial Lending,
Journal of Global Business and
Journal of Lending and Credit Risk Management. Dr. Malhotra is currently
serving on the editorial boards of
International Journal of Banking and Finance and
International Journal of Management Research.
Rand Martin,
A Comparative Analysis of the Expense Ratios of Domestic and International
Open-End and Closed-End Equity Funds, is an Associate Professor of Finance
at Bloomsburg University of Pennsylvania. He received a Ph.D. in Business
Administration with major in finance from the University of Alabama, a MBA
with concentration in finance from Emory University, and a BS in Industrial
Management from the Georgia Institute of Technology. His research is in the
areas of mutual funds, closed-end funds, and mortgage-backed securities.
He has published in the International Journal of Finance. He has presented
papers at the annual meetings of the Financial Management Association, American
Finance Association, Eastern Finance Association, Southwest Finance Association,
Multinational Finance Association, and the Western Social Sciences Association.
Robert W. McLeod,
A Comparative Analysis of the Expense Ratios of Domestic and International
Open-End and Closed-End Equity Funds, is the John Bickley Fellow in Finance
and Insurance and Professor of Finance at the University of Alabama. He
received his MBA from the University of Southern Mississippi and Ph.D. from
the University of Texas – Austin. He holds the professional designations
of Chartered Financial Analyst (CFA), Chartered Life Underwriter (CLU) and
is a CFP™ licensee. McLeod’s research is focused in the area of investment
companies. He is active in a number of academic organizations and is a past
president of the Academy of Financial Services.
Terry L. Zivney,
In Defense of Investing in Individual Securities, is the Maxon Distinguished
Professor of Finance at Ball State University. He previously taught at the
University of Wisconsin-Milwaukee and the University of Tennessee-Chattanooga,
where he held the Clarence E. Harris Chair of Excellence in Business. He
received his B.S.E.E. degree from the University of Illinois and his M.B.A.
and Ph.D. degrees from Georgia State University. He has published extensively
in the areas of investments and corporate finance. He is a past president
of the Academy of Financial Services.