Authors
Genevieve E O'Connor, Casey E Newmeyer, Nancy Yee Ching Wong, Julia B Bayuk, Laurel A Cook, Yuliya Komarova, Cazilla Loibl, L Lin Ong, Dee Warmath
Publication date
2019/7/1
Journal
Journal of Business Research
Volume
100
Pages
421-430
Publisher
Elsevier
Description
Though the majority of Americans report they are financially stable, they do not have sufficient savings to handle an unplanned emergency. There appears to be a disconnect between an individual's perception of their financial situation and their actual financial state. Nevertheless, only scant research focuses on financial vulnerability from both a subjective and objective perspective, and a clear and consistent definition of this construct is missing in the literature. To fill this gap, this review draws across disciplines to consolidate extant knowledge on financial vulnerability. First, we propose a novel definition of financial vulnerability that includes both its subjective and objective dimensions. Next, we create a framework to assess a consumer's financial vulnerability. We then identify interventions for varying degrees of financial vulnerability that are tailored to the individual's fiscal situation. Finally, we present a research …
Total citations
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Scholar articles
GE O'Connor, CE Newmeyer, NYC Wong, JB Bayuk… - Journal of Business Research, 2019