Welcome to the Academy of Financial Service’s 2019 Annual Meeting being held in Minneapolis, Minnesota in conjunction with FPA’s Annual Conference 2019. This is the full agenda for AFS. For details on FPA items, visit their Full Schedule. Please report any errors to support@academyfinancial.org.
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Tuesday, October 15 • 4:30pm - 6:00pm
P106 Psychological resources and financial stress response

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Personal finance research has found that financial deficit (e.g., indebtedness, hardly making ends meet) or financial shocks (e.g., job loss, foreclosure) are likely to create a higher level of financial stress. Defined as “a psychophysiological response to the cognition of imbalance, uncertainty, and risk in the realm of financial resource management decision making” (Heo, Cho, & Lee 2017, pp. 4-5), Heo, Cho, and Lee (2017) developed a new scale of financial stress incorporating emotional and physiological responses of financial stress. The purpose of this study is to examine the effect of psychological resources in perceiving financial stress. The psychological resources in this study are financial self-efficacy, external locus of control, self-esteem, and risk tolerance. These are factors known to be associated with diverse financial management behaviors. This study is significant in that it applies a new scale of financial stress that reflects biophysiological responses in addition to the affective and behavioral reaction.

Author(s): Narang Park, Wookjae Heo, Jae Min Lee


Narang Park

PhD Candidate, University of Georgia

Tuesday October 15, 2019 4:30pm - 6:00pm CDT
205 AB

Attendees (3)