This paper describes the development of the technology threat avoidance theory (TTAT), which explains individual IT users' behavior of avoiding the threat of malicious information technologies. We articulate that avoidance and adoption are two qualitatively different phenomena and contend that technology acceptance theories provide a valuable, but incomplete, understanding of users' IT threat avoidance behavior. Drawing from cybernetic theory and coping theory, TTAT delineates the avoidance behavior as a dynamic positive feedback loop in which users go through two cognitive processes, threat appraisal and coping appraisal, to decide how to cope with IT threats. In the threat appraisal, users will perceive an IT threat if they believe that they are susceptible to malicious IT and that the negative consequences are severe. The threat perception leads to coping appraisal, in which users assess the degree to which the IT threat can be avoided by taking safeguarding measures based on perceived effectiveness and costs of the safeguarding measure and self-efficacy of taking the safeguarding measure. TTAT posits that users are motivated to avoid malicious IT when they perceive a threat and believe that the threat is avoidable by taking safeguarding measures; if users believe that the threat cannot be fully avoided by taking safeguarding measures, they would engage in emotion-focused coping. Integrating process theory and variance theory, TTAT enhances our understanding of human behavior under IT threats and makes an important contribution to IT security research and practice.

Avoidance of information technology threats: a theoretical perspective

This pilot study examined the influence of Credit Wise Cats, a financial education seminar presented by Students in Free Enterprise, on the attitudes, knowledge, and intentions toward financial responsibility of college students (N = 93). Findings suggest that the seminar effectively increased students’ financial knowledge, increased responsible attitudes toward credit and decreased avoidant attitudes towards credit from pre-test to post-test. At post-test, students reported intending to engage in significantly more effective financial behaviors and fewer risky financial behaviors. Finally, demographic factors (e.g., gender and employment status) predicted students’ financial knowledge, attitudes, and behaviors. These results suggest that a seminar format may be useful in reaching a wider audience of college students and, thus, warrants future longitudinal evaluation.

https://www.cgsnet.org/ckfinder/userfiles/files/Changing_College_Students_Financial_Knowledge.pdf

Changing College Students’ Financial Knowledge, Attitudes, and Behavior through Seminar Participation

Recent research on well-being suggests that domain-specific behaviors contribute to domain-specific satisfactions, which in turn contribute to an individual’s overall satisfaction with life Our study is an attempt to add to the literature by observing these phenomena from a financial perspective Using data collected from a sample of undergraduate students at a major state university in the US and employing structural equation modeling, we have found evidence suggesting that positive financial behaviors contribute to financial satisfaction and financial satisfaction in turn contributes to life satisfaction In addition, positive financial behaviors contribute to life satisfaction through two more mediating variables: academic performance and academic satisfaction

Acting for Happiness: Financial Behavior and Life Satisfaction of College Students

The authors measured factors associated with undertreatment of medical students' depression. They administered a cross-sectional Beck Depression Inventory and sociodemographic questionnaire to students at 1 medical school, defining their outcome measure as the use of counseling services or antidepressant medication. Of an estimated 450 available student participants in the study, 322 (71.6%) completed the questionnaire. Forty-nine students (15.2%) were classified as depressed and 10 (20.4%) reported experiencing suicidal ideation during medical school, but only 13 (26.5%) of the depressed students reported treatment. The researchers observed no difference in treatment by year in school, completion of psychiatric requirement, race, or depression severity. Treatment for depression was significantly associated with older age and personal and family histories of depression. Despite the availability of effective medications and confidential mental health services, medical students with depression are undertrea...

Factors associated with undertreatment of medical student depression.

The purpose of this study is to explore the relationship between financial behaviors and financial well-being of college students when controlling demographic and financial characteristics, financial education and financial dispositions. Data (N = 15,797) was collected from college students age 18 and over via an online survey from 15 college campuses throughout the United States during spring and fall of 2008. Results of means comparisons showed significant differences on the financial well-being level by various socioeconomic factors and financial behaviors. In addition, regression analysis showed that budgeting, saving, risky credit card behaviors, and compulsive buying were significantly related to financial well-being when controlling for demographic information, financial characteristics, financial education, and financial dispositions.

Financial Behaviors and Financial Well-Being of College Students: Evidence from a National Survey

Henry, Weber, and Yarbrough (2001), writing in this Journal, reported that many college students are living on the verge of a financial crisis. The purpose of this study was to further consider this assertion by examining college students' credit card use behavior and attitudes. A concurrent purpose was to test the factors associated with students' attitude toward credit cards. It was determined that, using a sample of 242 undergraduate and graduate students from a southwestern state university, Ethnic/racial background, academic level, credit card ownership, parents' credit card use, money ethic, and locus of control were associated with college students' credit card attitudes. Henry et al.'s assertion that students are vulnerable to a financial crisis was confirmed. ********** College students' use of credit cards has recently received increased visibility throughout the media (Hayhoe, 2002). Henry, Weber, and Yarbrough (2001), writing in this Journal, concluded that in addition to credit problems many students do not have a written budget, and of those who do have a budget few young people actually use it. They determined that university students "are vulnerable to financial crisis" (p. 246). The staggering number of credit cards in circulation exemplifies this crisis, as does the number of cards carried by the average student. Currently, there are 1.3 billion credit cards in circulation, which, when averaged, equals about 12 cards per household (Sullivan, Warren, & Westbrook, 2000). The growth of credit cards on college campuses has tended to minor the credit saturation found in the general public (Xiao, Noring, & Anderson, 1995). More than a decade ago Churaman (1988) reported on college students' use of consumer credit. It was during this period that the banking industry began permeating the student credit card market in the late 1980's (Manning, 2000). Churaman reported that in 1985-86 over half of all college students had bank credit cards. This figure has been on the rise as some 70% of all undergraduates at four-year colleges have at least one credit card today. The increased number and type of credit cards on university campuses has seen an explosive level of growth in the past decade, with most credit card companies targeting college students. What remains still unanswered is what effect credit card circulation among college students has had on the financial attitudes, behaviors, and outcomes of young Americans. The purpose of this paper is to extend the research originally reported by Henry et al. (2001) by reporting findings from a study that was designed to examine college students' credit card use behavior and identify the factors associated with credit attitudes. This research also identifies the factors related to college students' attitudes toward credit cards. Attitude toward credit was assumed to be explained with demographic characteristics, socioeconomic characteristics, background factors, and psychological factors. Methodology A survey data collection method was used. Questionnaires were distributed to randomly selected classes offered in the College of Human Sciences of one large university in a southwestern state. From the total of 250 questionnaires that were distributed, 242 questionnaires were returned. The survey instrument included questions regarding debit card usage, credit card usage, attitudes toward credit, financial knowledge, demographic characteristics, and other personal finance attitude and behavior. Attitude toward credit was measured with nine questions adapted from a study by Awh and Waters (1974). Each item was measured with a 4-point Likert-type-type scale that ranged from strongly agree (4) to strongly disagree (1). A summated index was created for use in the multivariate analyses. Those who had higher scores on the attitude toward credit scale were assumed to have a more positive credit attitude. …

Credit Card Attitudes and Behaviors of College Students.

Credit Card Attitudes and Behaviors of College Students

The effects of environmental and biopsychosocial factors on financial risk tolerance is analyzed. The research is premised on Irwin’s (1993) risk-taking behavioral model. Findings from an OLS regression, using a sample of faculty and staff from two universities (N = 406), indicate that education, marital status, net worth, financial knowledge, and household income, as environmental factors, are related to financial risk tolerance. A significant biopsychosocial factor associated with financial risk tolerance is self-esteem. Findings from this study confirm Irwin’s recommendation that further research should take into account both environmental and biopsychosocial factors when attempting to explain financial risk-tolerance attitudes.

Environmental and Biophysical Factors Associated with Financial Risk Tolerance

This study expands upon the work of Henry, Weber, and Yarbrough (2001) in examining the money management behaviors and financial outcomes of college students. The analysis was conducted using data from a sample that included an equal mix of African-American and non-Hispanic White students. It was found that African-American students held more credit card debt than others. When the relationships among race, credit card debt, financial behaviors, and financial stress were examined it was determined that credit card debt was positively related to both negative financial behaviors and financial stress. African-American students reported higher levels of financial stress than other students. The relationship between credit card debt, racial background, financial behaviors, and financial stress suggests that African-American students are affected more dramatically by debt than others. ********** Henry, Weber, and Yarbrough (2001) and Joo, Grable, and Bagwell (2003), among others, have noted a potential financial crisis on college campuses. Students are deluged daily with credit card offers and other enticements to go into debt. It has been estimated that 70% of all college students have and use credit cards (Joo et al.). The combination of consumer debt, educational loans, and poor financial management skills is leading some students to financial collapse. University administrators, faculty, and policy makers are generally aware that students who face financial stress tend to be more likely than others to drop out of school or significantly reduce the number of credit hours taken in order to work more hours. Generally, substituting work for study results in lower grade point averages and restricted access to on-campus extracurricular activities. This news is neither new nor pressing enough to draw university resources to rectify the situation. What is less well known is how credit card debt, financial behaviors, and financial stress differ based on racial background. The majority of studies to date that have examined credit card debt and student stress and academic achievement have used samples of predominately non-Hispanic White students. Studies that have examined the link between credit card debt and stress, for instance, using non-Hispanic White samples have shown that financial stress increases as debt rises. This study attempts to determine if the same relationship holds true for groups of students who are not non-Hispanic White. The answer to this question has potentially serious ramifications for university administrators. The recent push on many university campuses to provide access, support, and overall encouragement to African-American students offers an insight into how answering this question can impact the design of minority student outreach efforts. Outreach efforts are typically focused on providing under-represented students with academic undergraduate assistance, social assimilation, and career placement (Pope, 2004). Very few campus programs are designed to include personal financial management skills as part of outreach efforts. If racial differences in credit card debt, financial behaviors, and financial stress do, in fact, exist, and support for personal finance training is lacking, then comprehensive programs to enhance educational opportunities for under-represented students may be less than effective. The purpose of this paper is to provide evidence of potential student racial differences in credit card debt, financial behaviors, and financial stress on one college campus. The paper provides a starting point for thinking about what is happening on college campuses today in relation to training students about the importance of personal finance attitudes and behaviors. Background Review While the debate regarding whether or not racial differences exist in terms of personal financial knowledge, attitudes, and behaviors on college campuses, few can argue that such differences don't exist within the broader society. …

Student Racial Differences in Credit Card Debt and Financial Behaviors and Stress

This article examines two hypotheses. First, investor risk tolerance fluctuates in part due to changes in the investment markets, and, second, investors tend to project stock market closing price data into the formation of risk-tolerance attitudes. Regression tests were conducted to determine the role of projection bias and vividness in the formation of risk attitudes among a convenience sample of internet survey respondents (N = 1,355). It was found that individuals who own securities tend to use recent and vivid stock market data when establishing risk attitudes. Further, risk attitudes, on average and in the aggregate, were found to fluctuate based on closing stock prices the previous week. Financial planners are cautioned that risk tolerance should not be used as a static input within asset allocation models.

So-Hyun Joo

Papers

Credit Card Attitudes and Behaviors of College Students.

Credit Card Attitudes and Behaviors of College Students

Environmental and Biophysical Factors Associated with Financial Risk Tolerance

Student Racial Differences in Credit Card Debt and Financial Behaviors and Stress

Risk Tolerance, Projection Bias, Vividness, and Equity Prices