A Cross Cultural Test of Financial Risk Tolerance Attitudes: Brazilian and American Similarities and Differences

Authors

  • Liana Holanda N. Nobre UFERSA
  • John E. Grable Georgia University - USA
  • Wesley Vieira Da Silva Pontifical Catholic University of Paraná
  • Claudimar Pereira Da Veiga

Abstract

The purpose of this study was to examine the extent to which risk-tolerance attitudes differ between a sample of Brazilians and Americans (N = 620). Based on the use of a variety of statistical methodologies, including regression, factor, and discriminant analysis. The results indicate that Americans were more apt to engage in a speculative gamble and they were less likely to hold bonds as a safe asset. Overall, both Brazilian and American female respondents exhibited lower risk-tolerance scores; however, no age or marital status differences were noted. The results from this analysis show that cultural differences exist between Brazilians and Americans in terms of financial risk-tolerance attitudes.

Keywords: Risk tolerance; Cross cultural; Financial risk.

JEL Classifications: G1, M1

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Author Biographies

Liana Holanda N. Nobre, UFERSA

Business School

John E. Grable, Georgia University - USA

Business School

Wesley Vieira Da Silva, Pontifical Catholic University of Paraná

Business School 

Claudimar Pereira Da Veiga

Post graduate program in management - PPAD

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Published

2016-01-22

How to Cite

N. Nobre, L. H., Grable, J. E., Da Silva, W. V., & Da Veiga, C. P. (2016). A Cross Cultural Test of Financial Risk Tolerance Attitudes: Brazilian and American Similarities and Differences. International Journal of Economics and Financial Issues, 6(1), 314–322. Retrieved from https://econjournals.com/index.php/ijefi/article/view/1793

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