Full-text resources of CEJSH and other databases are now available in the new Library of Science.
Visit https://bibliotekanauki.pl

Results found: 1

first rewind previous Page / 1 next fast forward last

Search results

Search:
in the keywords:  RISK FINANCING
help Sort By:

help Limit search:
first rewind previous Page / 1 next fast forward last
1

DETERMINANTS OF PERSONAL RISK FINANCING STRATEGIES

100%
Brokešová Z., Ondruška T., Pastoráková E.
Ekonomický časopis (Journal of Economics)
|
2023
|
vol. 71
|
issue 10
579 – 595
EN
Adverse income shocks may have an eminent effect on short-term and long-term financial stability of individuals and households. Optimal response to risk exposure is driven by effectively chosen risk management strategies through combination of insurance, savings and other tools. However, individuals and households do not always make optimal decisions in these situations. The paper investigates the determinants of individuals’ decisions on the implementation of risk financing strategies. We test demographic, economic, and personal characteristics (including risk attitude and financial literacy) with the aim to identify relevant factors associated with different personal risk management behaviour. We use data from the survey in the Slovak Republic. We analyse the use of the two risk financing strategies, risk transfer and self-insurance, in coping with life and health risks of individuals. Our results show that level of financial literacy and risk attitude are important elements in personal risk management decisions, which policy-makers should also reflect on in an effort to ensure the financial stability of individuals and households.
first rewind previous Page / 1 next fast forward last
JavaScript is turned off in your web browser. Turn it on to take full advantage of this site, then refresh the page.