The influence of financial risk tolerance and risk perception on individual investment decision-making in a financial advice context

Nguyen, Thi My Linh (2015) The influence of financial risk tolerance and risk perception on individual investment decision-making in a financial advice context. PhD thesis, Queensland University of Technology.


The aim of this thesis is to examine how risk tolerance and risk perception, two important but often misunderstood constructs, jointly influence client investment decisions in a financial advice context. By distinguishing the roles of these two risk constructs in client decision-making, in this thesis a new direction in studying financial/investment risks is provided while practice and regulation in the financial services industry is potentially informed. Based on the literature relating to risks and individual decision-making, a theoretical framework is developed and relevant hypotheses are tested in two studies with financial adviser clients in Australia. Results reveal that financial risk tolerance influences asset allocation both directly and indirectly through risk perception. The intervening role of risk perception suggests that risk tolerance affects how clients perceive the riskiness of an investment product which influences client decision-making.

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ID Code: 84745
Item Type: QUT Thesis (PhD)
Supervisor: Newton, Cameron & Gallery, Gerry
Keywords: Financial Risk Tolerance, Financial Risk Perception, Individual Investment Decisions, Financial Advice Context, Influence
Divisions: Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Management
Institution: Queensland University of Technology
Deposited On: 24 Jul 2015 03:05
Last Modified: 08 Sep 2015 05:30

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