Title
Employees' Financial Behaviors Following the 2007-2009 Financial Crisis.
Document Type
Article
Publication Date
Spring 2017
Abstract
Low- and middle-income employees make up the bulk of potential participants in employer sponsored retirement plans; however, employers find it difficult to alter their savings behavior. Financial crises may have unintended positive effects on low-income employees' behavior. Therefore, this study examined the effect of the 2007-2009 financial crisis on employees' financial behaviors; through ordered logistic regression analyses of data from the Survey of Consumer Finances. Following the crisis, all employees' and low-income employees' savings behavior significantly improved. Moreover, all employees' cash Mow management behavior improved following the crisis, while it had no effect on low-income employees' cash Mow management behavior.
Publication Title
Financial Services Review
Volume
26
Issue
1
First Page
19
Last Page
36
Recommended Citation
Heo, Wookjae; Hudson, Crystal; Heejung, Park; and Palmer, Lance, "Employees' Financial Behaviors Following the 2007-2009 Financial Crisis." (2017). Consumer Sciences Faculty Publications. 7.
https://openprairie.sdstate.edu/consumer-sci_pubs/7