NOTHING VENTURED NOTHING GAINED: GENDER DIFFERENCES IN FINANCIAL RISK BEHAVIOR AMONG TURKISH UNIVERSITY STUDENTS

Year 2013, Volume: 5 Issue: 1, 322 - 334, 01.06.2013

Serkan Çankaya Meltem Ucal Mary Lou O’neil

Abstract

Our study examines issues of risk attitude and risk tolerance among Turkish
university students. We surveyed 725 students regarding their attitudes toward
risk and asked them to respond to several hypothetical situations concerning
possible financial gain and/or loss. Using parametric and nonparametric tests, we
examined their risk tolerance and risk attitude as well as their propensity for risk
taking behavior. In line with much of the literature, we found women students to
be more risk adverse than men. The gender difference increased as risk increased.
The importance of this research lies in the portrait it provides of attitudes toward
risk and risk tolerance among young people in an emerging market. In particular,
for the ways that gender may affect any number of financial decisions over the
course of an individual's life.

Keywords

Risk Attitude, Risk Tolerance, Gender Difference.

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