This study examines the interplay between ethnicity, religious affiliation and levels of income to explain for differences in attitudes toward ‘money’, and asset allocation (i.e., investment decisions) among 730 Caucasian and ethnic Chinese respondents in Australia, Canada and China. Based on multivariate analysis, it was found that for the higher-income respondents, asset allocation decisions converged in spite of differences in ethnic and religious background. In the lower-income segment, however, asset allocation in terms of cash, savings, investments in stocks/bonds, and property varied along ethnic lines. Furthermore, the religious background of the respondents in the lower-income segment was also related to their cash holdings and investments in shares and bonds. The implications of these findings for both theory and practice are discussed.
|Number of pages||1|
|Journal||Proceedings of the 52nd Annual Meeting of the Academy of International Business : international business in tough times|
|Publication status||Published - 2010|
|Event||Annual Meeting of the Academy of International Business (52nd : 2010) - Rio de Janeiro, Brazil|
Duration: 5 Jun 2010 → 29 Jun 2010
- religious affiliation
- asset allocation