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Venue: Riverboat (William Penn Level) clear filter
Monday, April 14
 

8:00am EDT

Board Meeting
Monday April 14, 2025 8:00am - 5:00pm EDT
Monday April 14, 2025 8:00am - 5:00pm EDT
Riverboat (William Penn Level)
 
Tuesday, April 15
 

8:00am EDT

Board Meeting
Tuesday April 15, 2025 8:00am - 10:30am EDT
Tuesday April 15, 2025 8:00am - 10:30am EDT
Riverboat (William Penn Level)

3:30pm EDT

A2 Home Economics
Tuesday April 15, 2025 3:30pm - 5:00pm EDT
Tuesday April 15, 2025 3:30pm - 5:00pm EDT
Riverboat (William Penn Level)

3:30pm EDT

A2a The Making of the Upgrade Money: Home, Turkish Housewives and Digital Secondhand Marketplaces
Tuesday April 15, 2025 3:30pm - 5:00pm EDT
In the marketplace, money serves as a utilitarian tool for economic exchange, but when it enters the home, it takes on different social and cultural meanings based on its source, earner, and allocation. In today’s digital world, online platforms enable the commodification of previously non-economic household items and activities, introducing new forms of money with distinct meanings. This study draws on Zelizer's "special monies" model to explore this process among Turkish housewives (THWs) using digital secondhand marketplaces (DSMs). Through thirteen in-depth interviews, the research examines how these women transform their culturally designated domain—the home—into a source of income and perceived empowerment, a phenomenon described as the "commodification of homes." The study introduces the concept of "upgrade money" for this income, which is used to enhance the social standing of their home, children, and themselves without directly challenging socio-cultural norms. Although often considered an undervalued domestic currency, upgrade money empowers THWs by shifting their roles from "cashless money managers" to "upgrade money owners." This paper provides qualitative evidence of culturally recognized paths to perceived empowerment for women in constrained contexts.
Tuesday April 15, 2025 3:30pm - 5:00pm EDT
Riverboat (William Penn Level)

3:30pm EDT

A2b Homeownership and Perceived Financial Satisfaction: Insights From the SHED
Tuesday April 15, 2025 3:30pm - 5:00pm EDT
Homeownership is often referred to as, "the American Dream." However, rising cost of homeownership may restrict some households ability to purchase a home. Given the cultural significance of owning a home in America, this study seeks to understand the relationship between homeownership and financial satisfaction using data from the 2022 wave of the Survery of Household Economics and Decisionmaking (SHED). If homeownership positively influences financial satisfaction, it is possible that homeownership may lead to improvements in financial and overall wellbeing. This study provides a nuanced examination of the factors influencing financial satisfaction, focusing on home ownership, mortgage status, financial literacy, financial stress, financial behaviors, and socio-demographic characteristics. By leveraging established frameworks like the Life Cycle Hyptohesis (LCH), Bhevioral Life Cycle Hypothesis (BLCH), and the Joo and Grable Financial Satisfaction Framework, the study situates itself within the broader literature on financial well-being and adds depth to the undersrtanding of financial satisfaction determinants in the United States. 
Tuesday April 15, 2025 3:30pm - 5:00pm EDT
Riverboat (William Penn Level)

3:30pm EDT

A2c U.S Households Homeowners Insurance Decisions and Their Financial Well Being
Tuesday April 15, 2025 3:30pm - 5:00pm EDT
Using the weighted cross-sectional data from 2019 to 2022 Understanding American Study (UAS) different waives, this study investigates the association between U.S. household’s homeowner’s decisions and financial well-being by analyzing the moderating role of financial literacy. With the help of Ordinary least squares (OLS), we found that households who own homes freely without mortgages and have homeowner insurance are significantly and positively associated with households’ financial well-being. Further, we analyzed the moderating role of households’ financial literacy. We found a strong positive association between medium to high financial literacy after interacting with households who own homes with homeowners’ insurance on the household’s financial well-being. This suggests that financial literacy moderates households’ financial well-being when predicting various impacts on homeowners’ insurance decisions. We also found some heteroscedasticity problems, but with the help of bootstrapping and Robust Variance Covariance Estimates, we solved the heteroscedasticity problem and found consistent results with our original OLS model. This study also has implications for academicians, financial planners, and policymakers. Policymakers can use this study to incentivize homeowners’ insurance among mortgage-free households and improve mortgage and loan programs by adding financial literacy as a module. This paper should help academician base their discussion on the financial well-being of households, and financial planners can use this paper to examine clients’ demographics and socioeconomic differences and how these differences affect their financial well-being.
Tuesday April 15, 2025 3:30pm - 5:00pm EDT
Riverboat (William Penn Level)

5:15pm EDT

5:15pm EDT

B2b Building Futures: The Impact of Affordable Housing on Student Achievement
Tuesday April 15, 2025 5:15pm - 6:45pm EDT
The Low-Income Housing Tax Credit (LIHTC) program – created in 1986 as part of the Tax Reform Act – is the largest federal program to finance the development of affordable rental housing. This project aims to examine the short-, moderate-, and long-term impact of Low-Income Housing Tax Credit (LIHTC) developments on the educational outcomes of public school students. Specifically, it will investigate how proximity to affordable housing developments influences students’ outcomes, including both academic performance and behavioral outcomes. Focusing on the effects in the short-term (1 year) and long-term (5-10 years), the project seeks to explore the interplay between housing affordability, neighborhoods, and educational achievement in K-12 public schools. This project will examine how these impacts differ across race, gender, and socioeconomic status to better understand the extent to which the effect of affordable housing differs by these student characteristics.  
Tuesday April 15, 2025 5:15pm - 6:45pm EDT
Riverboat (William Penn Level)

5:15pm EDT

B2c Scarcity in Everyday Life: How ADHD and Student Loan Debt Shape Personal Experiences
Tuesday April 15, 2025 5:15pm - 6:45pm EDT
Currently, there are ten million U.S. adults diagnosed with Attention-Deficit Hyperactivity Disorder (ADHD). The increasing prevalence of ADHD among students in higher education coincides with rising concerns about the impact of student loan debt. The primary objective of this phenomenological study was to explore, through scarcity theory lens, the cognitive and affective challenges faced by individuals experiencing ADHD in managing their student loans._x000D_
We analyzed user posts from from an online community of two million members r/ADHD (Reddit), where individuals experiencing ADHD shared their experiences related to student loan debt. Thematic analysis was employed to identify key themes surrounding scarcity.  _x000D_
Our findings demonstrated various forms of cognitive and affective scarcities faced by individuals experiencing ADHD, including financial pressures, difficulties in effective budgeting, and a lack of adequate support systems. Users reported feelings of stress and anxiety due to the complexities of managing their student loans. Despite challenges, many users demonstrated resilience and adaptability, developing coping strategies that included seeking alternative financial planning resources and support. _x000D_
This study highlights an urgent need for targeted interventions that integrate financial knowledge, debt literacy, and mental health support to help improve the well-being of individuals facing this coexisting issue of student-debt burden and ADHD.
Tuesday April 15, 2025 5:15pm - 6:45pm EDT
Riverboat (William Penn Level)
 
Wednesday, April 16
 

10:45am EDT

C2 Financial Decisions: Confidence, Information Sources, and Risk
Wednesday April 16, 2025 10:45am - 12:15pm EDT
Wednesday April 16, 2025 10:45am - 12:15pm EDT
Riverboat (William Penn Level)

10:45am EDT

C2a How Consumers Think About Investment Risk
Wednesday April 16, 2025 10:45am - 12:15pm EDT
Understanding financial risk is an integral part of making decisions about investing. Without adequate knowledge of financial risk, a consumer’s investment decisions may be based on misperceptions. Conversely, a sound understanding of financial risk may help consumers deploy risk-mitigation strategies, like diversification, and assess various investment products to identify those that align with their goals and risk tolerance._x000D_
To examine how consumers think about financial risk — as well as the relationships among risk comprehension, risk tolerance, and asset holdings — we fielded a survey to a nationally representative, probability-based sample. The survey gauged respondents’ financial risk comprehension, financial risk tolerance, asset holdings, recognition of risk-mitigation strategies, and specific risk-related investing concerns._x000D_
Results indicate that, while most consumers have a rudimentary understanding of investment risk, fewer are able to recognize risk-mitigation strategies. We find that those with higher risk comprehension tend to be more willing to take financial risk, and that investors and non-investors have different risk-related concerns about investing. We also find that investors’ risk comprehension and risk tolerance generally align with portfolio choices._x000D_
Findings suggest that consumers’ concerns about inflation and liquidity may be especially important for financial educators when beginning conversations about investment risk and how to manage it.
Wednesday April 16, 2025 10:45am - 12:15pm EDT
Riverboat (William Penn Level)

10:45am EDT

C2b Information Source Selection in Borrowing and Investment: A Multinomial Logit Analysis
Wednesday April 16, 2025 10:45am - 12:15pm EDT
Previous studies have demonstrated the benefits of using financial planners (Hanna, 2011, Elmerick et al., 2002; White & Heckman, 2016; Reiter & Qing, 2024). However, there are other sources that consumers use to obtain financial advice such as asking friends and family, using online services, calling around, or asking other non-financial planner professionals such as bankers and attorneys. Most studies have not examined the other sources of information that consumers use to seek financial advice. Therefore, this study mainly focuses on the specific service that consumers utilized including internet/online services, friend/relative, banker, call-around, and financial planner. To our best knowledge, little research has been conducted by comparing the specific help-seeking resources. In addition, to map out the decision differences between borrowing and investing, this study examined them separately. _x000D_
This study used the 2022 Survey of Consumer Finances (SCF) to examine the decision-making for borrowing and investing. Data from the SCF are widely used in financial planning and economic areas. For the 2022 wave of the survey, 4,595 households were interviewed. This study mainly focused on the most frequently used when making decisions about borrowing and investing; therefore, 3,807 observations were included for the estimation.
Wednesday April 16, 2025 10:45am - 12:15pm EDT
Riverboat (William Penn Level)

10:45am EDT

C2c The Role of Financial Confidence in Retirement Planning and Financial Satisfaction Among Asian Americans
Wednesday April 16, 2025 10:45am - 12:15pm EDT
This study examines the association between financial literacy confidence and financial satisfaction among Asian Americans using the 2021 National Financial Capability Study (NFCS) AAPI oversample. The findings emphasize the significant role of financial confidence—both overconfidence and underconfidence—in shaping retirement planning behaviors and overall financial satisfaction among Asian Americans. Underconfident individuals were less likely to engage in retirement planning and reported lower financial satisfaction. In contrast, overconfident individuals, despite not exhibiting more proactive retirement planning, reported higher levels of financial satisfaction. Mediation analysis further indicates that underconfidence leads to reduced retirement planning, which, in turn, results in lower financial satisfaction. The findings of this study suggest that financial professionals could benefit from helping underconfident individuals build their financial literacy and encourage proactive retirement planning, while also tempering overconfident individuals' decision-making to ensure they make informed, long-term financial choices. Additionally, promoting the value of retirement planning, particularly non-employer-sponsored accounts, could improve financial satisfaction.
Wednesday April 16, 2025 10:45am - 12:15pm EDT
Riverboat (William Penn Level)

12:15pm EDT

Mentor/Mentee Panel Discussion / Lunch
Wednesday April 16, 2025 12:15pm - 1:45pm EDT
Wednesday April 16, 2025 12:15pm - 1:45pm EDT
Riverboat (William Penn Level)

2:00pm EDT

D2 Investing Decisions: AI, Psychology, and Risk-Taking
Wednesday April 16, 2025 2:00pm - 3:30pm EDT
Wednesday April 16, 2025 2:00pm - 3:30pm EDT
Riverboat (William Penn Level)

2:00pm EDT

D2a Describing Household Risk-Taking During Times of Financial Crisis
Wednesday April 16, 2025 2:00pm - 3:30pm EDT
The aims of this study were to determine whether financial knowledge is related to risk-taking behavior after controlling for a financial decision-maker’s degree of risk aversion and risk tolerance and to identify the variables that are most important when describing the amount of portfolio risk taken at the household level. It was determined that financial knowledge is positively related to the amount of risk taken by financial decision-makers in their portfolios. Additionally, financial knowledge was found to be inversely related to risk aversion but positively associated with risk tolerance. It was further determined that risk tolerance has the greatest effect in describing portfolio risk. Financial knowledge ranked second in importance, whereas, risk aversion was the least important in describing portfolio risk.
Wednesday April 16, 2025 2:00pm - 3:30pm EDT
Riverboat (William Penn Level)

2:00pm EDT

D2b Enhancing Investment Decision-Making for Financial Consumers Using a Retrieval-Augmented Generation Large Language Model (RAG-LLM)
Wednesday April 16, 2025 2:00pm - 3:30pm EDT
This study develops and evaluates a Retrieval-Augmented Generation Large Language Model (RAG-LLM) system to enhance investment decision-making among financial consumers in South Korea. By integrating Large Language Models with Retrieval-Augmented Generation techniques, the system provides personalized, data-driven investment advice tailored to individual risk profiles inferred from demographic and financial characteristics. Utilizing publicly available financial data and consumer behavior literature, the model retrieves relevant information and generates recommendations regarding asset selections. The system's performance is assessed using portfolio metrics like expected returns, risk levels, Sharpe ratios, and utility based on constructed mean-variance optimal portfolios, and compared against naive random selection and traditional LLM-based systems. Preliminary results indicate that the RAG-LLM significantly outperforms baseline models, leading to higher Sharpe ratios and utility with reduced risk. This approach enhances financial decision-making, particularly benefiting financially marginalized groups who lack access to traditional advisory services. The research underscores the potential of AI-driven solutions in promoting financial inclusion, reducing disparities in investment outcomes, and contributing to a more equitable financial ecosystem.
Wednesday April 16, 2025 2:00pm - 3:30pm EDT
Riverboat (William Penn Level)

2:00pm EDT

D2c The Psychology of Investor Behavior: Stock Market Expectations and Portfolio Decisions During Market Volatility
Wednesday April 16, 2025 2:00pm - 3:30pm EDT
This study examines how personality traits and stock market expectations influence portfolio decisions among investors aged 50 and older during periods of market volatility. Using data from the 2018 and 2020 waves of the Health and Retirement Study, the research reveals associations between psychological characteristics and investment behavior during the COVID-19 market volatility. Drawing on the Meta-theoretic Model of Motivation and Personality, the study analyzes how elemental traits (Big Five personality characteristics) and compound traits (positive and negative affect) relate to stock market expectations and subsequent portfolio decisions. Results suggest that stock market expectations play a key role in connecting broader personality dispositions to investor behavior. The findings have important implications for financial practitioners, policymakers, and consumer advocates. Financial professionals can use these insights to identify clients who may be more prone to reactive decision-making during market uncertainty. Consumer protection policies can be enhanced by understanding which investors might be more vulnerable to potentially harmful portfolio adjustments. Additionally, the research informs how educational initiatives and financial technology can be tailored to support more effective consumer financial decision-making during periods of market volatility, particularly for older investors approaching or in retirement.
Wednesday April 16, 2025 2:00pm - 3:30pm EDT
Riverboat (William Penn Level)

3:45pm EDT

E2 Wealth Transfers: Generosity, Legacy, and Demographics
Wednesday April 16, 2025 3:45pm - 5:15pm EDT
Wednesday April 16, 2025 3:45pm - 5:15pm EDT
Riverboat (William Penn Level)

3:45pm EDT

E2a How Generosity Affects Consumer Well-Being: The Mediating Role of Trust
Wednesday April 16, 2025 3:45pm - 5:15pm EDT
This study aims to explain why charitable giving and volunteering enhance consumer well-being, with a particular focus on the role of trust. We conducted a mediation analysis using Hayes’ Process Macro Model 4 to examine the indirect effects of generosity, including charitable giving and volunteering, on the Satisfaction with Life Scale (SWLS) through trust. The results confirmed that all the hypotheses were supported, demonstrating that charitable giving and volunteer work enhance consumer well-being through the mediation of social trust. That is, the benefits derived from these altruistic actions contribute to social trust, making them valuable for consumer well-being. Engaging in these activities can lead to a richer, more meaningful life. Based on the results, several policy and educational recommendations and suggestions for follow-up studies were made.
Wednesday April 16, 2025 3:45pm - 5:15pm EDT
Riverboat (William Penn Level)

3:45pm EDT

E2b Leaving a Legacy: The Role of Charitable Giving in Bequest Expectations
Wednesday April 16, 2025 3:45pm - 5:15pm EDT
This study examines the role of charitable giving, both time and money, in bequest motivation. Andreoni (1990) combined the public goods model and the private consumption model to uncover that an individual’s utility may not only come from increasing public goods but also from the act of giving. Monetary contributions are a way of distributing wealth. Alternatively, the price of volunteering, the shadow value of time, depends on the opportunity cost. To investigate whether charitable giving may crowd out the bequest expectation, this study utilized the Survey of Consumer Finances (SCF) through the logistic model to demonstrate the association between charitable giving and bequest expectation. The results indicate that households without any charitable behavior are less likely to expect to leave sizable estates than those who only engage in volunteer activities. Also, compared with households that only participate in volunteer activities, those who only make financial contributions are less likely to expect to leave a substantial estate. To evaluate the magnitude of the difference between volunteer activities and monetary contributions, this study also utilized the interactions to support our results.
Wednesday April 16, 2025 3:45pm - 5:15pm EDT
Riverboat (William Penn Level)

3:45pm EDT

E2c The Future of Wealth Transfer: How Demographics Shape Inheritance Expectations in America
Wednesday April 16, 2025 3:45pm - 5:15pm EDT
The Great Wealth Transfer, projected to continue until 2045, represents a significant shift in wealth across generations in the United States. This study utilizes data from the 2021 National Financial Capability Study (NFCS) to investigate the demographics of individuals expecting an inheritance. Our findings reveal that about 31% of respondents expect to receive an inheritance of $10,000 or more, primarily among those aged 25-44.  Women, white respondents, and individuals with higher educational attainment are strong predictors to expect an inheritance. Additionally, respondents with higher income levels and greater risk tolerance have higher odds of expecting inheritance. These results suggest wealth transfers predominantly occur in financially affluent families, often characterized by educational advantages and familial obligations. However, the study's implications suggest further research to explore the demographics of those inheriting larger financial amounts, providing a more comprehensive understanding of inheritance expectations._x000D_
 
Wednesday April 16, 2025 3:45pm - 5:15pm EDT
Riverboat (William Penn Level)
 
Thursday, April 17
 

8:00am EDT

F2 Parental Influence on Financial Well-Being
Thursday April 17, 2025 8:00am - 9:30am EDT
Thursday April 17, 2025 8:00am - 9:30am EDT
Riverboat (William Penn Level)

8:00am EDT

F2a Financial Helicopter Parenting and College Student Financial Well-Being
Thursday April 17, 2025 8:00am - 9:30am EDT
Financial socialization typically conceptualizes influences on children’s financial well-being through modeling, instruction through parent-child discussion, and experiential learning.  However, helicopter parenting, which is marked by age-inappropriate parental involvement in emerging adults’ decision-making, does not fit into this model.  The present study sought to examine the relationship between financial helicopter parenting and perceived financial well-being and financial self-confidence in 203 college students.  Results indicate that financial helicopter parenting is related to having less confidence in financial abilities, engaging in financial strain behaviors, and reporting lower levels of financial well-being, though there was no relationship with student loan or consumer debt.  This unique pattern of results suggests a need for modified interventions to improve financial well-being and behavior.
Thursday April 17, 2025 8:00am - 9:30am EDT
Riverboat (William Penn Level)

8:00am EDT

F2b Financially Supporting Children and Parents’ Retirement Planning
Thursday April 17, 2025 8:00am - 9:30am EDT
Recent evidence shows that there has been an increase in the number of parents who are financially supporting their adult children. The concern is whether this is affecting parents’ retirement planning negatively. This study uses data from the 2021 National Financial Capability Study (NFCS) to examine how financially supporting young adult children is associated with parents’ retirement planning. The results suggest that individuals who financially support their young adults are less likely to have retirement accounts and are more likely to worry about running out of money in retirement compared to those who do not have financially dependent children.
Thursday April 17, 2025 8:00am - 9:30am EDT
Riverboat (William Penn Level)

8:00am EDT

F2d The Roles of Financial Socialization and Financial Capability Across Generations' Financial Well-being
Thursday April 17, 2025 8:00am - 9:30am EDT
The antecedents of financial well-being have been explored in various methods to understand how to improve individuals' and families’ overall well-being. For instance, the role of family financial socialization is of particular importance since the family unit is the primary socializing agent for most individuals until they are young adults (Danes & Yang, 2014; Gudmunson & Danes, 2011; LeBaron-Black et al., 2022). Central factors to financial well-being typically include reviewing a person’s objective and subjective financial factors associated with financial wellness. Additionally, a person’s financial circumstances (e.g., having an emergency fund), mental health, lower levels of financial stress), and perception of their financial situation are all common factors associated with improved financial well-being (Asebedo & Wilmarth, 2017; Archuleta et al., 2013; Park et al., 2017). Given the multifaceted nature of financial well-being, researchers must take a holistic approach when examining this construct. The purpose of this study is to empirically examine the influence of family financial socialization on individuals’ financial well-being across generations. These differences underscore how financial stability improves with age. This study is important because previous studies have shown age, or generation, to be an important predictor of financial well-being.
Thursday April 17, 2025 8:00am - 9:30am EDT
Riverboat (William Penn Level)

9:45am EDT

G2 Health and Happiness Now
Thursday April 17, 2025 9:45am - 11:15am EDT
Thursday April 17, 2025 9:45am - 11:15am EDT
Riverboat (William Penn Level)

9:45am EDT

G2a Happiness Unlocked: Exploring the Interplay of Wealth, Health, Love, Career, and Social Ties
Thursday April 17, 2025 9:45am - 11:15am EDT
The study investigates the factors that shape subjective well-being (SWB), focusing on how financial satisfaction, job satisfaction, relationship happiness, physical health, and community engagement contribute to overall life satisfaction. Unlike traditional economic measures like GDP, SWB offers a comprehensive view of consumer quality of life, providing insights into personal fulfillment and resilience, especially during economic and health crises. Using data from the General Social Survey from 2016 to 2022, this study analyzes the impact of financial satisfaction and other well-being dimensions on SWB through ordered logit regression models with robustness checks. Findings show that relationship happiness, financial satisfaction, and physical health are critical to well-being, with relationship happiness emerging as the strongest predictor (OR=28.25, AME=.4018). This research highlights the need for policies and programs that address financial and non-financial aspects of life to enhance consumer holistic well-being. Recommendations include financial literacy programs, supportive workplace environments, and accessible healthcare, which together can foster resilience and improve subjective well-being across diverse populations. This study contributes to an understanding of consumer well-being, supporting actionable strategies for policymakers, educators, and financial practitioners.
Thursday April 17, 2025 9:45am - 11:15am EDT
Riverboat (William Penn Level)

9:45am EDT

G2b Living the Moment – Financial Behavior After a Major Health Event
Thursday April 17, 2025 9:45am - 11:15am EDT
Making optimal investment decisions is complex due to the inherent uncertainty and the influence of individual risk preferences. This study investigates the impact of major health events on financial decision-making, focusing on risk-taking behavior and investment horizons. Utilizing data from the SHARE project, which provides a comprehensive longitudinal view of individuals aged 50 and above in Europe, we examine how health shocks such as heart attacks, strokes, and cancer diagnoses alter financial behaviors. Our analysis employs propensity score matching and mediation analysis to understand these dynamics. Results indicate that health shocks significantly deteriorate household financial conditions, reducing income, wealth, and employment probability. However, contrary to expectations, these shocks do not substantially alter risk appetite or investment planning horizons, suggesting a limited mediating role of decreased life expectancy in financial decision-making.
Thursday April 17, 2025 9:45am - 11:15am EDT
Riverboat (William Penn Level)

9:45am EDT

G2c Unsecured Debt and Psychological Well-Being Among Older Americans: The Role of Health Literacy
Thursday April 17, 2025 9:45am - 11:15am EDT
This study investigated the association between personal debt and psychological well-being among older adults aged 51 and above, with a specific focus on unsecured debt. The research explored the role of health literacy in this relationship. Data from the 2018 and 2020 waves of the Health and Retirement Study were utilized with a sample size of 10,687, involving respondents who completed both a core survey and a psychosocial leave-behind questionnaire. The analysis revealed that 35.9% of respondents had unsecured debt, and the presence of such debt was significantly associated with lower psychological well-being. Health literacy was a significant mediator between the deleterious role of unsecured debt in psychological well-being. Given that medical debt constitutes a sizable proportion of unsecured debt for older individuals, possessing greater knowledge of one's health situation appears to mitigate the psychological distress associated with debt. Interventions aimed at enhancing the ability of older adults to access and comprehend health-related information and services may serve as a protective measure against the negative psychological consequences of grappling with unsecured debt. 
Thursday April 17, 2025 9:45am - 11:15am EDT
Riverboat (William Penn Level)

1:00pm EDT

H2 Political Sympathy, FSA Loans, and Consumer Interactions
Thursday April 17, 2025 1:00pm - 2:30pm EDT
Thursday April 17, 2025 1:00pm - 2:30pm EDT
Riverboat (William Penn Level)

1:00pm EDT

H2a Dealing With the Aftermath: Understanding Political Sympathy’s Association With Financial Perspectives, Wellness, Efficacy, and Portfolio Actions and How to Help Clients After Major Events
Thursday April 17, 2025 1:00pm - 2:30pm EDT
Presidential elections can be unsettling for individuals as they consider changes that may not reflect their social and fiscal values and confront the specter that they could live the next four years under misaligned policies. At the same time, the stock market and the economy have historically fared well regardless of the political party in control or whether the election resulted in a change in leadership.  With the political atmosphere in the United States becoming increasingly charged, the opportunity for panic is elevated, most notably for individuals who lean heavier into their political identity. Financial mistakes made today due to heightened emotional states can have a lifelong deleterious impact. The present study explores whether changes in economic and market expectations after an election were driven by political conviction and whether partisanship manifested in different actions to one’s portfolio. We also contemplate the election’s partisanship effects on financial well-being and financial self-efficacy, both of which have been shown to impact decision-making.  We conclude this paper with practical techniques to help individuals look beyond the current political environment and refocus on long-term planning.
Thursday April 17, 2025 1:00pm - 2:30pm EDT
Riverboat (William Penn Level)

1:00pm EDT

H2b Bridging the Gap: Evaluating Equity and Resilience in FSA Loans for Socially Disadvantaged Farmers – A Comparative Study of Primary and Ad Hoc Loan Types
Thursday April 17, 2025 1:00pm - 2:30pm EDT
This study investigates the equity and resilience impacts of Farm Service Agency (FSA) loan programs on socially disadvantaged farmers, focusing on disparities in loan terms such as obligated loan amounts and interest rates across diverse demographic groups. Using borrower data from 2004 to 2014, it evaluates lending patterns for primary loan types (Operating and Farm Ownership Loans) and ad hoc loan types (Disaster Assistance and Emergency Loans). By applying a Multivariate Multiple Linear Regression (MMLR) model, the research assesses the influence of financial performance indicators and demographic factors, including race, gender, and marital status, on loan conditions. The findings reveal significant differences in loan terms, with minority and female borrowers often experiencing lower loan amounts and higher interest rates compared to White and male borrowers. These disparities persist despite FSA’s mandate to ensure equitable access to credit for disadvantaged groups. The results indicate that while FSA programs have made strides in improving access, challenges remain in achieving full equity. Policy recommendations include enhancing credit scoring models to reduce bias and providing targeted support programs to improve financial resilience for minority farmers. This study contributes to understanding the effectiveness of FSA loans in promoting equity and resilience and suggests pathways for further policy reform.
Thursday April 17, 2025 1:00pm - 2:30pm EDT
Riverboat (William Penn Level)
 
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