Online social networking increases financial risk-taking

Chan, EY; Saqib, NU

Online social networking increases financial risk-taking

Chan, EY

Saqib, NU

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Publication Type:: Journal Article
Citation:: Computers in Human Behavior, 2015, 51 (PA), pp. 224 - 231
Issue Date:: 2015-10-01

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Field	Value	Language
dc.contributor.author	Chan, EY https://orcid.org/0000-0002-6847-6545	en_US
dc.contributor.author	Saqib, NU	en_US
dc.date.available	2020-05-25T19:03:18Z
dc.date.issued	2015-10-01	en_US
dc.identifier.citation	Computers in Human Behavior, 2015, 51 (PA), pp. 224 - 231	en_US
dc.identifier.issn	0747-5632	en_US
dc.identifier.uri	http://hdl.handle.net/10453/35754
dc.identifier.uri	http://hdl.handle.net/10453/35516
dc.identifier.uri	http://hdl.handle.net/10453/35753
dc.description.abstract	© 2015 Elsevier Ltd. All rights reserved. The popularity of online social networking sites such as Facebook, LinkedIn, and Twitter has engendered discussion regarding their consequences for users, whether they be positive or negative. In this research, we draw on the cushion hypothesis from psychology and social capital theory from sociology to posit that using online social networking increases users' financial risk-taking. Three studies show that online social circles such as "Facebook friends" are akin to collectivistic communities by offering users a "cushion" that mitigates financial loss, which increases users' financial risk-taking, consistent with the cushion hypothesis. This greater financial risk-taking arises primarily when users perceive their online social circles as able or willing to provide financial support or of high quality, consistent with social capital theory. Thus, we link online social networking with financial risk-taking, with important welfare implications for today's online users.	en_US
dc.relation.ispartof	Computers in Human Behavior	en_US
dc.relation.isbasedon	10.1016/j.chb.2015.05.002	en_US
dc.subject.classification	Education	en_US
dc.title	Online social networking increases financial risk-taking	en_US
dc.type	Journal Article
utslib.citation.volume	PA	en_US
utslib.citation.volume	51	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
utslib.for	0806 Information Systems	en_US
utslib.for	1701 Psychology	en_US
utslib.for	1702 Cognitive Sciences	en_US
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	open_access
pubs.issue	PA	en_US
pubs.publication-status	Published	en_US
pubs.volume	51	en_US

Abstract:

© 2015 Elsevier Ltd. All rights reserved. The popularity of online social networking sites such as Facebook, LinkedIn, and Twitter has engendered discussion regarding their consequences for users, whether they be positive or negative. In this research, we draw on the cushion hypothesis from psychology and social capital theory from sociology to posit that using online social networking increases users' financial risk-taking. Three studies show that online social circles such as "Facebook friends" are akin to collectivistic communities by offering users a "cushion" that mitigates financial loss, which increases users' financial risk-taking, consistent with the cushion hypothesis. This greater financial risk-taking arises primarily when users perceive their online social circles as able or willing to provide financial support or of high quality, consistent with social capital theory. Thus, we link online social networking with financial risk-taking, with important welfare implications for today's online users.

Please use this identifier to cite or link to this item:

http://hdl.handle.net/10453/35516