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Evidence of lower risk tolerance among public sector employees in their personal financial matters
Author(s) -
Roszkowski Michael J.,
Grable John E.
Publication year - 2009
Publication title -
journal of occupational and organizational psychology
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 2.257
H-Index - 114
eISSN - 2044-8325
pISSN - 0963-1798
DOI - 10.1348/096317908x337725
Subject(s) - public sector , private sector , financial sector , business , financial risk , financial services , scale (ratio) , test (biology) , finance , economics , economic growth , economy , paleontology , physics , quantum mechanics , biology
Critics claim that excessive risk avoidance is characteristic of public sector workers. To test this contention, the financial risk tolerance scores of public sector and private sector employees who had used financial planning services were compared on a financial risk tolerance scale. Public sector employees scored lower on financial risk tolerance relative to private sector employees. Differences remained even after controlling for other variables linked to risk tolerance.