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Please use this identifier to cite or link to this item: http://hdl.handle.net/1893/32240
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dc.contributor.authorChangwony, Frederick Kibonen_UK
dc.contributor.authorCampbell, Kevinen_UK
dc.contributor.authorTabner, Isaac Ten_UK
dc.date.accessioned2021-02-05T01:03:13Z-
dc.date.available2021-02-05T01:03:13Z-
dc.date.issued2021-03en_UK
dc.identifier.other106028en_UK
dc.identifier.urihttp://hdl.handle.net/1893/32240-
dc.description.abstractWe investigate how savings goals relate to wealth allocation and how this relationship is moderated by financial advice and numerical ability. Using panel data from a large household survey we find that as the number and the time horizon of savings goals increases, portfolios shift from safe assets to both fairly safe assets and risky assets. We also find that households with access to multiple sources of financial advice and independent financial advice hold more fairly safe and risky assets and that independent financial advice enhances the influence of savings goals on wealth allocation to fairly safe and risky assets. Overall we find that the possession of savings goals is associated with long term saving activity, and this is particularly evident for those with low levels of numerical ability. By enabling the formation of savings goals, the financial planning process can facilitate long-term investment in risky assets.en_UK
dc.language.isoenen_UK
dc.publisherElsevier BVen_UK
dc.relationChangwony FK, Campbell K & Tabner IT (2021) Savings goals and wealth allocation in household financial portfolios. Journal of Banking and Finance, 124, Art. No.: 106028. https://doi.org/10.1016/j.jbankfin.2020.106028en_UK
dc.rightsThis item has been embargoed for a period. During the embargo please use the Request a Copy feature at the foot of the Repository record to request a copy directly from the author. You can only request a copy if you wish to use this work for your own research or private study. Accepted refereed manuscript of: Changwony FK, Campbell K & Tabner IT (2021) Savings goals and wealth allocation in household financial portfolios. Journal of Banking and Finance, 124, Art. No.: 106028. https://doi.org/10.1016/j.jbankfin.2020.106028 © 2020, Elsevier. Licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International http://creativecommons.org/licenses/by-nc-nd/4.0/en_UK
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/en_UK
dc.subjectmental accountingen_UK
dc.subjectsavings goalsen_UK
dc.subjectwealth allocationen_UK
dc.subjectfinancial adviceen_UK
dc.subjectnumerical abilityen_UK
dc.subjectself-controlen_UK
dc.subjecthousehold portfoliosen_UK
dc.titleSavings goals and wealth allocation in household financial portfoliosen_UK
dc.typeJournal Articleen_UK
dc.rights.embargodate2022-06-22en_UK
dc.rights.embargoreason[Changwony-etal-JBF-2020.pdf] Publisher requires embargo of 18 months after formal publication.en_UK
dc.identifier.doi10.1016/j.jbankfin.2020.106028en_UK
dc.citation.jtitleJournal of Banking and Financeen_UK
dc.citation.issn0378-4266en_UK
dc.citation.volume124en_UK
dc.citation.publicationstatusPublisheden_UK
dc.citation.peerreviewedRefereeden_UK
dc.type.statusAM - Accepted Manuscripten_UK
dc.author.emailf.k.changwony@stir.ac.uken_UK
dc.citation.date21/12/2020en_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.contributor.affiliationAccounting & Financeen_UK
dc.identifier.isiWOS:000620368000012en_UK
dc.identifier.scopusid2-s2.0-85100016235en_UK
dc.identifier.wtid1693162en_UK
dc.contributor.orcid0000-0003-0015-5224en_UK
dc.contributor.orcid0000-0003-4239-8590en_UK
dc.contributor.orcid0000-0003-3738-7301en_UK
dc.date.accepted2020-12-05en_UK
dcterms.dateAccepted2020-12-05en_UK
dc.date.filedepositdate2021-02-04en_UK
dc.subject.tagBehavioural and Experimental Economicsen_UK
dc.subject.tagFinance and Investmentsen_UK
rioxxterms.apcnot requireden_UK
rioxxterms.typeJournal Article/Reviewen_UK
rioxxterms.versionAMen_UK
local.rioxx.authorChangwony, Frederick Kibon|0000-0003-0015-5224en_UK
local.rioxx.authorCampbell, Kevin|0000-0003-4239-8590en_UK
local.rioxx.authorTabner, Isaac T|0000-0003-3738-7301en_UK
local.rioxx.projectInternal Project|University of Stirling|https://isni.org/isni/0000000122484331en_UK
local.rioxx.freetoreaddate2022-06-22en_UK
local.rioxx.licencehttp://www.rioxx.net/licenses/under-embargo-all-rights-reserved||2022-06-21en_UK
local.rioxx.licencehttp://creativecommons.org/licenses/by-nc-nd/4.0/|2022-06-22|en_UK
local.rioxx.filenameChangwony-etal-JBF-2020.pdfen_UK
local.rioxx.filecount1en_UK
local.rioxx.source0378-4266en_UK
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