Financial decision‐making and self‐awareness for financial decision‐making is associated with white matter integrity in older adults

Sunderaraman, Preeti; Gazes, Yunglin; Ortiz, Gema; Langfield, Christopher; Mensing, Ashley; Chapman, Silvia; Joyce, Jillian L.; Brickman, Adam M.; Stern, Yaakov; Cosentino, Stephanie

doi:10.1002/hbm.25747

Cited by 3 publications

(1 citation statement)

References 60 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Financial market activities are revamped after the advent of the internet and globalisation; thus, they are technologically and geopolitically developed [60]. Financial decision-making and awareness of one's financial abilities are vital for avoiding financial mistakes [61]. Various researchers have studied gender differences in financial decision-making.…”

Section: Discussionmentioning

confidence: 99%

Examining Behavioural Aspects of Financial Decision Making: The Working Women Perspective

Gautam¹,

Wadhwa²,

Raman³

2022

jour

View full text Add to dashboard Cite

In the challenging and volatile financial markets, an investor needs to change his financial objectives frequently, leading to a diversified portfolio of investments. The financial future of the individual investor depends on his rational decisionmaking. This research aims to evaluate various determinants of financial decision-making concerning working women in the National Capital Region, India. It examines the association of financial literacy, personal finance planning, and riskbehaviour with the financial decision-making of working females. The research also studies the different exogenous variables of financial literacy, including financial attitude (FA), financial behaviour (FB) and financial knowledge (FK). It utilises a quantitative approach for predicting relationships between the identified variables. The study is based on primary data collected through a structured questionnaire designed on a 5-point Likert scale and was analysed through a partial least square-structural equation modelling (PLS-SEM) approach. The study results suggest a positive and significant association of financial literacy and personal finance planning with financial decision-making by working women. On the other hand, risk behaviour negatively affects financial decision-making. The findings also reveal that all three exogenous variables, financial attitude, financial behaviour and financial knowledge, have a strong relationship with financial literacy. The research is relevant for individual women investing in various financial avenues to take better decisions. This study also benefits financial managers and institutions to target as women are potential investors in a developing country like India.

show abstract

Section: Discussionmentioning

confidence: 99%

Examining Behavioural Aspects of Financial Decision Making: The Working Women Perspective

Gautam¹,

Wadhwa²,

Raman³

2022

jour

View full text Add to dashboard Cite

show abstract

Financial decision‐making and self‐awareness for financial decision‐making is associated with white matter integrity in older adults

Sunderaraman

Gazes

Ortiz

et al. 2022

Human Brain Mapping

Self Cite

View full text Add to dashboard Cite

Financial decision‐making (FDM) and awareness of the integrity of one's FDM abilities (or financial awareness) are both critical for preventing financial mistakes. We examined the white matter correlates of these constructs and hypothesized that the tracts connecting the temporal–frontal regions would be most strongly correlated with both FDM and financial awareness. Overall, 49 healthy older adults were included in the FDM analysis and 44 in the financial awareness analyses. The Objective Financial Competency Assessment Inventory was used to measure FDM. Financial awareness was measured by integrating metacognitive ratings into this inventory and was calculated as the degree of overconfidence or underconfidence. Diffusion tensor imaging data were processed with Tracts Constrained by Underlying Anatomy distributed as part of the FreeSurfer analytic suite, which produced average measures of fractional anisotropy and mean diffusivity in 18 white matter tracts along with the overall tract average. As expected, FDM showed the strongest negative associations with average mean diffusivity measure of the superior longitudinal fasciculus ‐temporal (SLFT; r = −.360, p = .011) and ‐parietal (r = −.351, p = .014) tracts. After adjusting for FDM, only the association between financial awareness and average mean diffusivity measure of the right SLFT (r = .310, p = .046) was significant. Overlapping white matter tracts were involved in both FDM and financial awareness. More importantly, these preliminary findings reinforce emerging literature on a unique role of right hemisphere temporal connections in supporting financial awareness.

show abstract

The Relationship of MRI-Derived Alzheimer's and Cerebrovascular-Related Signatures With Level of and Change in Health and Financial Literacy

Lamar¹,

Arfanakis²,

Yu³

et al. 2023

The American Journal of Geriatric Psychiatry

View full text Add to dashboard Cite

Financial decision‐making and self‐awareness for financial decision‐making is associated with white matter integrity in older adults

Cited by 3 publications

References 60 publications

Examining Behavioural Aspects of Financial Decision Making: The Working Women Perspective

Examining Behavioural Aspects of Financial Decision Making: The Working Women Perspective

Financial decision‐making and self‐awareness for financial decision‐making is associated with white matter integrity in older adults

The Relationship of MRI-Derived Alzheimer's and Cerebrovascular-Related Signatures With Level of and Change in Health and Financial Literacy

Contact Info

Product

Resources

About