財務(wù)算術(shù)、凈值、財務(wù)管理技能客戶特征基礎(chǔ)上的財務(wù)風(fēng)險承受能力[文獻翻譯]-預(yù)覽頁
【正文】 emselves as risk avoiders categorized themselves as having the lowest satisfaction with their financial management skills (SCF = 1, 223。 “Take above average financial risks expecting to earn aboveaverage returns” = 3。原文：Financial Numeracy, Net Worth, and Financial Management Skills: Client Characteristics That Differ Based on Financial Risk ToleranceIntroductionThe personal financial planning literature over the past two decades, particularly papers published in the academic press, has increasingly focused on the exploration of the role demographic, socioeconomic, and psychosocial factors play in impacting individuals appetite for risk. There is an obvious reason for this interest in risk tolerance and resulting risktaking activities on the part of consumers. As Roszkowski and Davey pointed out, “Assessment of risk tolerance is now generally recognized as a prerequisite to the development of a sound financial plan.” As such, it is important for financial advisors to have a defensible understanding of the factors associated with a current or potential client’s tolerance for risk. According to Grable, “financial risk tolerance is defined as the maximum amount of uncertainty that someone is willing to accept when making a financial decision.” Additionally, the concept can be viewed as a person39。 “Take average financial risks expecting to earn average returns” = 2。 = ) denotes that there was a negative relationship between risk tolerance and financial numeracy. Those who assessed themselves as having no risk tolerance scored, on average, points lower in financial numeracy than individuals who assessed themselves as substantial risk takers. In terms of net worth, after controlling for age, no risk takers displayed the lowest levels of selfassessed net worth (SCF = 1, 223。針對此風(fēng)險承受能力，探尋部分消費者對此風(fēng)險產(chǎn)生明顯反應(yīng)的原因。此外，這一概念可以定義 “愿意或不愿意采取無法保證的行動過程”。例如，芬克和休斯頓在學(xué)習(xí)時表示，愿意承擔(dān)財務(wù)風(fēng)險的顯著高于凈資產(chǎn)，對于年滿65歲的人來說，風(fēng)險承受能力是其中一個高凈資產(chǎn)的最強預(yù)測因子。一個備受爭議的法案通過的主要論點是，在家庭決策層面缺乏審慎的財政，在普通人群中有部分人缺乏基本的財務(wù)知識和技能。由翰馬和么斯庫爾倡導(dǎo)，財務(wù)算術(shù)的定義為“消費者在財務(wù)方面的能力和優(yōu)先知識的基礎(chǔ)上，加工、理解、熟練掌握和使用財務(wù)信息的概念” 。認知能力和財務(wù)知識一樣，主觀評價自己的資金運作能力，是一種客觀智力衡量。這也難怪，表現(xiàn)出較高的風(fēng)險承受能力——財務(wù)計算能力和財務(wù)管理能力可能顯示財富的積累，超過了與財務(wù)風(fēng)險知識和財務(wù)管理技能水平低的家庭。這是可能的，這些措施包括在搜集數(shù)據(jù)資料，并協(xié)助客戶實現(xiàn)其財務(wù)目標的過程。以下哪個陳述貼切地描繪出財務(wù)風(fēng)險程度，你是否愿意接受保留或投資?取實質(zhì)性的財務(wù)風(fēng)險期望賺取可觀的回報。這個問題的有效性和可靠性已經(jīng)在文獻中報道?！币虼?，雖然風(fēng)險問題也許不能提供一個人財務(wù)風(fēng)險承受能力的全面整體的看法，但通?？梢詭椭芯咳藛T和從業(yè)人員在投資風(fēng)險評估工作上的合理性。風(fēng)險問題是進入了主要固定因素模型。在其他方面，那些愿意采取平均值，高于平均水平的，或?qū)嵸|(zhì)性的財務(wù)風(fēng)險期望賺取可觀的回報。在這種情況下。對于財務(wù)計算能力和凈值來說，平均值，高于平均值的，實質(zhì)性的風(fēng)險，他們彼此并沒有顯著不同的，盡管它值得注意的是一般水平以上的財務(wù)管理評估者的最高技術(shù)水平。那些不愿意承擔(dān)風(fēng)險(M = )明顯不同于平均風(fēng)險接受者(M = )，中等風(fēng)險接受者(M = )者， 實質(zhì)性的風(fēng)險承擔(dān)者(M = )。部分埃塔平方財務(wù)算術(shù)年齡無平均數(shù)平均以上實質(zhì)性參照組凈值年齡無平均數(shù)平均以上實質(zhì)性參照組財務(wù)管理技能年齡無平均數(shù)平均以上實質(zhì)性參照組a pb p出處:，《財務(wù)算術(shù)、凈值、財務(wù)管理技能:客戶特征基礎(chǔ)上的財務(wù)風(fēng)險承受能力》，Journal of Financial Service Professionals，第64卷（6），2010：5765.10 / 10
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