Article
Version 1
Preserved in Portico This version is not peer-reviewed
Chronotype, Risk and Time Preferences, and Financial Behaviours
Version 1
: Received: 14 September 2018 / Approved: 16 September 2018 / Online: 16 September 2018 (07:45:10 CEST)
A peer-reviewed article of this Preprint also exists.
Wang, D.; McGroarty, F.; Cheah, E.-T. Chronotype, Risk and Time Preferences, and Financial Behaviour. Algorithms 2018, 11, 153. Wang, D.; McGroarty, F.; Cheah, E.-T. Chronotype, Risk and Time Preferences, and Financial Behaviour. Algorithms 2018, 11, 153.
Abstract
This paper examines the effect of chronotype on the delinquent credit card payments and stock market participation through preference channels. Using an online survey of 455 individuals who have been working for 3 to 8 years in companies in mainland China, the results reveal that morningness is negatively associated with delinquent credit card payments. Morningness also indirectly predicts delinquent credit card payments through time preference, but this relationship only exists when individuals’ monthly income is at low and average level. On the other hand, financial risk preference accounts for the effect of morningness on stock market participation. Consequently, an additional finding is that morningness is positively associated with financial risk preference, which contradicts previous finding in the literature. Finally, based on the empirical evidence, we discuss the plausible mechanisms that may drive these relationships and the implications for theory and practice. The current study contributes to the literature by examining the links between circadian typology and particular financial behaviours of experienced workers.
Keywords
chronotype; risk preference; time preference; credit debt; stock market participation
Subject
Business, Economics and Management, Finance
Copyright: This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Comments (0)
We encourage comments and feedback from a broad range of readers. See criteria for comments and our Diversity statement.
Leave a public commentSend a private comment to the author(s)
* All users must log in before leaving a comment