Personal values, family security, and financial risk-taking: a survey of UK households

Kim, A, Vanheusden, F ORCID: https://orcid.org/0000-0003-2369-6189 and Rashid, M, 2026. Personal values, family security, and financial risk-taking: a survey of UK households. European Research on Management and Business Economics. ISSN 2444-8834 (Forthcoming)

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Abstract

What values drive financial risk-taking (FRT) in a household context? This study examines this question using a structured questionnaire survey on UK households, through the lenses of the theory of planned behaviour, value-belief-norm theory, and Rokeach values. The results indicate 1) a strong presence of intentional risk-takers (to whom risk is part of a household financial plan), 2) who rely on better financial knowledge to capitalize on FRT, and 3) reduce FRT if their perceived personal and family risks increase. Contrary to stereotypes, our results support that men are more risk-averse than women, due to higher uncertainty in the post-COVID period that affected household income and wealth. In the post-crisis period, there is an incentive to act on behalf of the household, influenced by altruistic values. There is a significant influence of risk adaptation in financially knowledgeable households. This challenges the traditional connection between risk and return: return is not only a function of perceived financial risk, but also associated with household and social risks. The results carry implications for financial markets, and potentially household and personal financial advice, given the rise of values in financial decision-making within and outside the household.

Item Type:	Journal article
Publication Title:	European Research on Management and Business Economics
Creators:	Kim, A., Vanheusden, F. and Rashid, M.
Publisher:	Elsevier
Date:	20 April 2026
ISSN:	2444-8834
Identifiers:	Number Type 2620448 Other
Divisions:	Schools > School of Science and Technology
Record created by:	Jonathan Gallacher
Date Added:	27 Apr 2026 09:42
Last Modified:	27 Apr 2026 09:42
URI:	https://irep.ntu.ac.uk/id/eprint/55606

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