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Author

Terrence Hallahan

Other affiliations: Victoria University, Australia
Bio: Terrence Hallahan is an academic researcher from RMIT University. The author has contributed to research in topics: Financial risk & Volatility smile. The author has an hindex of 9, co-authored 17 publications receiving 792 citations. Previous affiliations of Terrence Hallahan include Victoria University, Australia.

Papers
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Journal Article
TL;DR: In this article, a large database of psychometrically derived financial risk tolerance scores and associated demographic information was analyzed and it was found that people's self-assessed risk tolerance generally accords with RTS.

398 citations

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TL;DR: This paper examined the relationship between a psychometrically derived measure of subjective financial risk tolerance and a range of demographic characteristics that are widely used as a basis for heuristically derived estimates of investors' attitudes towards financial risk.

128 citations

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TL;DR: In this article, the authors examined the market timing ability of a segment of the Australian investment fund industry, namely, equity trusts, over the period 1988-1997, by running both quadratic excess returns market model and dual-beta excess return market model regressions.

80 citations

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TL;DR: In this article, the authors apply the non parametric contingency table methodology to the year on year raw returns of a sample of Australian rollover funds as a means of gauging which of these survivorship bias hypotheses has greater support.
Abstract: There are two competing views regarding the potential effect of survivorship bias on the assessed persistence in performance of managed fund returns. On the one hand Brown et al. (Review of Financial Studies, 5, 1992) argue that spurious persistence will be induced, while alternatively Grinblatt and Titman (Journal of Finance, 47, 1992) argue the converse case, namely, that performance reversals or nonpersistence is more likely. The current study applies the non parametric contingency table methodology to the year on year raw returns of a sample of Australian Rollover funds as a means of gauging which of these survivorship bias hypotheses has greater support. Generally, the results show that although there is some evidence of persistence, the dominant pattern is one of reversals in performance, thus supporting the Grinblatt and Titman view.

56 citations

Journal ArticleDOI
TL;DR: The authors explored the nonlinear linkage between financial risk tolerance and demographic characteristics, including age, income, and number of dependents, and found that the non-linear role of demographic characteristics in financial risk-tolerance was not well understood.
Abstract: We explore the nonlinear linkage between financial risk tolerance and demographic characteristics. Our tests support the nonlinear role of age, income and number of dependents.

46 citations


Cited by
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Journal ArticleDOI
TL;DR: The technology threat avoidance theory (TTAT), which explains individual IT users' behavior of avoiding the threat of malicious information technologies, enhances the understanding of human behavior under IT threats and makes an important contribution to IT security research and practice.
Abstract: 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.

506 citations

Journal ArticleDOI
TL;DR: In this paper, a combined measure of financial literacy that includes both a test score of actual financial literacy and a self-rating of overall financial literacy is used in a study that finds that the combined measure appears to provide greater understanding about how financial literacy affects financial behaviors.
Abstract: A combined measure of financial literacy that includes both a test score of actual financial literacy and a self-rating of overall financial literacy is used in this study. We find that the combined measure appears to provide greater understanding about how financial literacy affects financial behaviors. A large national survey of U.S. adults and households (n = 28,146) was used to investigate how this overall financial literacy is likely to change financial behaviors across five financial topics: credit cards, investments, loans, insurance, and financial advice. For each topic, we include 4–5 financial behaviors (22 in total) to demonstrate the consistency of the findings within and across topics. Although we are unable to identify a causal relationship, the results from the probit analysis show that both actual and perceived financial literacy appear to influence financial behaviors and that perceived financial literacy may be as important as actual financial literacy. (JEL D14, G00)

236 citations

Journal ArticleDOI
TL;DR: DeTienne et al. as discussed by the authors examined entrepreneurs' intentions to exit by a range of possible exit paths [acquisition, initial public offering (IPO), family succession, employee buyout, independent sale, liquidation], building on Gimeno et al.'s notion of thresholds as they apply to a simple survival/exit dichotomy, and expanding this to include different intended paths of exit.
Abstract: Entrepreneurial exit—the process by which the founders of privately held firms leave the firm they helped to create (DeTienne, J Bus Venturing, 2010)—is an important component of the entrepreneurial process, yet researchers know very little about it. We examine entrepreneurs’ intentions to exit by a range of possible exit paths [acquisition, initial public offering (IPO), family succession, employee buyout, independent sale, liquidation], building on Gimeno et al.’s (Adm Sci Q 42:750–783, 1997) notion of thresholds as they apply to a simple survival/exit dichotomy, and expanding this to include different intended paths of exit. Our results indicate that entrepreneurs intend to pursue different exit paths based on previous entrepreneurial experience, industry experience, age, and education level. Our findings provide preliminary evidence that differences between intended exit and failure are underspecified in the literature, since exit consists of many unique paths. Also, in support of threshold theory, we find that the intended exit path is driven by factors other than firm performance.

234 citations

Journal Article
TL;DR: In this article, the authors examined several psychological antecedents to both short-term and long-term investment intentions, with specific focus on the Big Five personality taxonomy, and found that individuals who are more extraverted intend to engage in shortterm investing, while those who are higher in neuroticism and/or risk aversion avoid this activity.

214 citations

Journal ArticleDOI
TL;DR: In this paper, the influence of risk tolerance and risk-related competences on how tourists organize their tourism travel, and the importance that they ascribe to specific types of tourism hazards was analyzed.

153 citations