Financial and ethical risk-taking by young adults: A role for family dynamics during childhood

Financial and ethical risk-taking by young adults: A role for family dynamics during childhood
 
 The research tested the hypothesis that childhood relationships with par-
ents were related to risk-taking by young adults. Prior research has shown that risk-
taking by young children is related to their interactions with mothers and fathers.
Few studies have examined how family relationships during childhood are related
to risk-taking by young adults. We assessed risk-taking using the domain-specific
risk-taking scale (DOSPERT), which measures five domains of risk-taking: ethical,
financial, health, recreational, and social. We also assessed sensation-seeking, a
personality trait that has been shown to be a predictor of risk-taking and family
dynamics, using a measure that quantifies positive and negative childhood relation-
ships with each parent. The three key results were (1) negative mother interactions
predicted men’s financial risk-taking; (2) negative father interactions and disinhibi-
tion predicted men’s ethical risk-taking; and (3) women’s ethical risk-taking was
predicted by negative father interactions, low positive mother interactions, and
boredom susceptibility. Implications for identifying young adults most at-risk for
ethical and financial risk-taking are discussed.

Subjects: Adolescent Development; Behavioral Sciences; Risk
Keywords: ethical risk-taking; financial risk-taking; young adults; family dynamics;  
sex differences

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