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Open AccessArticle

Chronotype, Risk and Time Preferences, and Financial Behaviour

Southampton Business School, University of Southampton, Southampton SO17 1BJ, UK
Author to whom correspondence should be addressed.
Algorithms 2018, 11(10), 153;
Received: 14 September 2018 / Revised: 5 October 2018 / Accepted: 8 October 2018 / Published: 10 October 2018
(This article belongs to the Special Issue Algorithms in Computational Finance)
This paper examines the effect of chronotype on the delinquent credit card payments and stock market participation through preference channels. Using an online survey of 455 individuals who have been working for 3 to 8 years in companies in mainland China, the results reveal that morningness is negatively associated with delinquent credit card payments. Morningness also indirectly predicts delinquent credit card payments through time preference, but this relationship only exists when individuals’ monthly income is at a low and average level. On the other hand, financial risk preference accounts for the effect of morningness on stock market participation. Consequently, an additional finding is that morningness is positively associated with financial risk preference, which contradicts previous findings in the literature. Finally, based on the empirical evidence, we discuss the plausible mechanisms that may drive these relationships and the implications for theory and practice. The current study contributes to the literature by examining the links between circadian typology and particular financial behaviour of experienced workers. View Full-Text
Keywords: chronotype; risk preference; time preference; credit debt; stock market participation chronotype; risk preference; time preference; credit debt; stock market participation
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Wang, D.; McGroarty, F.; Cheah, E.-T. Chronotype, Risk and Time Preferences, and Financial Behaviour. Algorithms 2018, 11, 153.

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