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An Evaluation of the Effect of the COVID-19 Pandemic on the Risk Tolerance of Financial Decision Makers.

ABSTRACT: This paper documents the negative effect of the COVID-19 pandemic on financial risk attitudes across a broad sample of financial decision makers (N = 18,913). Findings show that the risk tolerance of financial decision makers can be altered when an extreme economic, social, or environmental shock occurs. A general shift away from be willing to take financial risk was noted after the COVID-19 pandemic emergency declaration. The COVID-19 pandemic shifted risk preference downward for the majority of financial decision makers in this study.

SUBMITTER: Heo W 

PROVIDER: S-EPMC9760393 | biostudies-literature | 2021 Jul

REPOSITORIES: biostudies-literature

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An Evaluation of the Effect of the COVID-19 Pandemic on the Risk Tolerance of Financial Decision Makers.

Heo Wookjae W   Rabbani Abed A   Grable John E JE  

Finance research letters 20201111

This paper documents the negative effect of the COVID-19 pandemic on financial risk attitudes across a broad sample of financial decision makers (<i>N</i> = 18,913). Findings show that the risk tolerance of financial decision makers can be altered when an extreme economic, social, or environmental shock occurs. A general shift away from be willing to take financial risk was noted after the COVID-19 pandemic emergency declaration. The COVID-19 pandemic shifted risk preference downward for the maj  ...[more]