Family economic factors such as parental income, stock holding, and financial assistance decreased the level of young adults' financial independence. Additional analyses indicated that the level of financial independence of college graduates was higher than those who had never attended college or were currently in college, but did not differ from those who had dropped out of college. Common and different factors associated with young adults' financial independence were also identified among the four education groups. The findings of this study have implications for consumer educators to develop and implement targeted financial education programs for young adults aged 18-23 who differ by educational attainment.
This study analysed differences in financial literacy across four countries: Canada, Italy, the UK and the US. The purpose was to understand whether factors associated with financial literacy in one country can be generalized to other countries as well or whether unique national characteristics make it necessary to examine financial literacy in each country individually. A financial literacy index, based on the number of correct answers to four multiple-choice questions, was used to test the relevance of country of origin to financial literacy. Results suggest significant differences among countries indicating that there are national and cultural differences in what households know and need to know about their personal finances. Policy makers should consider these differences when developing financial literacy assessment tools for their respective countries.
Historic designation is increasingly used as a means to achieve both preservation and community economic development. This study considered the effects of historic designation on residential property values in Baton Rouge, Louisiana, USA. The results support the well-established notion in urban economics literature that historic preservation has a positive impact on property values. However, appreciation of property values may displace less-affluent residents of historic districts after designation takes place. The results also show that the lower-end properties gain the most value from historic preservation. Thus, it must indeed be recognised that with increasing values comes the very real possibility that displacement of neighbourhood residents can occur. rehabilitation and adaptive reuse of historic properties, the attraction of heritage tourism visits and improvement of a neighbourhood's character. Another benefit-and the focus for this paper-is the role that local historic preservation might assume in improving property values and the creation of possible ripple effects on the value of property in surrounding neighbourhoods. However, strong price capitalisation of low-priced properties after historic district designation also implies a potential for displacement of low-income households.
This study examines the roles of internal and external search characteristics and attitudinal factors in investors' decisions to utilize robo-advisor-based platforms. Using the 2015 state-by-state National Financial Capability Study and Investor Survey, this study finds that the need to free up time, higher risk tolerance, higher subjective financial knowledge, and higher amounts of investable assets were positively associated with individual investors' adoption of robo-advisors. Additionally, the results from the interaction model indicates that individuals under 65 with a higher risk tolerance and greater perceived investment knowledge were more likely to use robo-advisors. Implications of the key findings for scholars, practitioners, and industry leaders are included.
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