ACCI Conference 2020 has ended

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ACCI Conference 2020

All sessions will take place in Central Daylight Time!

POSTER PRESENTATIONS:

Poster presentations are available to view from May 18 through May 23 via ACCI’s (unlisted) YouTube Channel Poster Playlist sent out with the Zoom meeting room links to all attendees.
Poster are listed in this schedule on the last day at 6 PM so they appear at the end. Please scroll to the end to find the poster numbers, titles, descriptions, and presenters.

Be sure to live Tweet during the event! #accivirtual2020 and visit our Facebook page for photos @americancouncilonconsumerinterests.

6:00pm CDT

101 An Analysis of Savings and Borrowing Behavior in the Generation-Z Cohort: Evidence from a National Study

This paper examines the determinants of savings behavior among Generation-Z respondents using the 2017 wave of the Panel Study of Income Dynamics (PSID) and its Transition into Adulthood Supplement. To our knowledge, very few studies have examined the determinants of savings and investment behavior among the Generation-Z respondents. This paper fills in the gap in literature by examining the determining factors associated with savings and debt management behaviors in the Generation-Z.

Author(s): Yingyi Liu, Swarn Chatterjee

Presenters

Yingyi Liu

doctoral student, University of Georgia

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

102 College Students Who Are Parents

Students who are parents face unique challenges when pursuing their degree. Not only do they have to juggle student demands but also continue to raise their family. There is limited research, however, on student parents pursuing higher education at four-year institutions. Research on student parents is often difficult and underreported by institutions which makes it a challenging and unique area that deserves more attention. This exploratory study focuses on three distinct aspects of these students' lives: (a) financial well-being and behaviors; (b) food insecurity; and (c) academic outcomes. A non-random sample of 300 students between the ages of 18 and 29, currently enrolled at a four-year institution, and with at least one minor child was collected by Qualtrics. These students represented 234 different colleges/universities in thirty-nine states as well as six foreign countries.

Author(s): Carrie Johnson, Meghan Yerhot, Jim Deal

Presenters

Meghan Yerhot

Doctoral Student, North Dakota State University

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

103 Consumer Protection at the Federal Energy Regulatory Commission

Citizens expect US government agencies to protect consumers from unfair practices of businesses they regulate. Most agencies are charged with protecting both consumers and businesses and undergo regular review and reauthorization by Congress. The Federal Energy Regulatory Commission (FERC) was established in 1934 as an independent agency, funded by industry fees. Later, Congress allowed FERC to award entities whose proposals to build natural gas infrastructure the right to use the power of eminent domain to achieve them. Eminent domain is intended for use with projects that serve the public good, not private profit. The courts expanded the concept of eminent domain to include quick take, where energy companies are allowed to take possession of property prior to compensating landowners for it. Coupled with awarding certification conditioned on the company obtaining all necessary permits and licenses, FERC regularly issues tolling orders. These allow companies to incrementally construct infrastructure while forcing landowners seeking to challenge certification to wait for delayed official denial of their petition for reconsideration. By the time FERC finally issues the denial by federal court.

Author(s): Irene Leech

Presenters

Irene Leech

Associate Professor, Virgina Tech

I teach consumer studies and advise undergraduate students at Virginia Tech. Earlier in my career I worked in Cooperative Extension for about 15 years. I have been a member of ACCI for over 30 years and was President of ACCI, 2016-17. I'm also active in the Consumer Federation of... Read More →

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

104 Jacobs’ Five-Tiered Approach to a Systematic Review of Retirement Education Programs

Americans are inadequately prepared to finance their retirement; this issue has generated interest in strategies that address this concern. The purpose of this study was to conduct a systematic program review to evaluate the quality and effectiveness of retirement planning programs. No comparable systematic reviews about retirement education programs exist. Jacobs' (1988) Five-Tiered framework guided the organization and assessment of the 15 retirement programs identified in the search. Programs were evaluated based on the target audience, setting, length and content of program, theoretical model or approach that underlies the program, delivery method, and program evaluation design. Among the retirement education programs, 13 out of 15 programs occurred in the workplace. None of the programs met all of the Five-Tiered evaluation approach advocated by Jacobs (1998). Most programs targeted working adults (ages 30 to retirement). Program content was exclusively focused on retirement for many programs, however, a range of supplemental topics was integrated into other programs. Surveys were the most common way to collect data on program effectiveness, and programs did not use experimental or quasi-experimental approaches as study designs. The systematic review found positive impacts on participants' retirement knowledge, retirement planning behavior and perceived financial well-being.

Author(s): Mengya Wang, Suzanne Bartholomae, Jonathan Fox

Presenters

Mengya Wang

Student, Iowa State University Extension

Mengya holds a Master in Economics from the University of Picardie Jules Verne in France and a Master in Education from Carthage College in the United States. She is currently a Ph.D. student in the Gerontology program, in the Department of Human Development and Family Studies (HDFS... Read More →

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

106 Role of Family Conditions and Cancer Type in Influencing the Financial Burden, Particularly Debt Among Cancer Patients

This project will investigates how family environment influence's the financial burden debt may play in the extent of financial among cancer patients. It utilizes data collected from cancer patients in the 22 counties served by the UF Health Cancer Center. Our dependent variable is the Comprehensive Score for Financial Toxicity (CoST). Our primary variable of interest is the level of debt the family took on to meet their diseases associated expenses.

Author(s): Biswadeep Dhar, Michael Gutter, Giselle Navarro

Presenters

Biswadeep Dhar, MS, M.Ed.

PhD Candidate, University of Florida

Biswadeep Dhar is a third year PhD student at the University of Florida (Family, Youth & Community Sciences). His dissertation work is about socioeconomic factors and family dynamics in understanding chronic diseases in India. Along with that, he is collaborating with his mentors... Read More →

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

107 Strategies for Bringing Youth Savings Programs into Local Communities

Linking financial education and school-based savings programs encourages the development of savings habits at a formative age and offers an opportunity to promote economic inclusion for entire families. The FDIC conducted a two-year Youth Savings Pilot to identify promising approaches to combining financial education with the opportunity to open a safe, low-cost savings account. During the 2015-16 school year, the 21 banks in the pilot created over 4,500 youth savings accounts and provided financial education to thousands more children.

Author(s): Ron Jauregui, Luke Reynolds, Tracie Morris

Presenters

Ron Jauregui

CAS, FDIC

Youth Banking Resource Center, Youth Banking Network, Youth Savings Pilot. Money Smart for Young People (K-12).

Pilot overview for ACCI Poster107 pdf

YouthSavingsflyer 170503 Poster107 add pdf

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

109 The Influence of Financial Knowledge, Financial Stress and Help Seeking Activities on Financial Decision Making: Evidence from the Canadian Financial Capability Survey

This research uses nationally representative data from Statistics Canada's 2014 Canadian Financial Capability Survey to investigate three selected financial management behaviors: having a household budget, carrying an unpaid balance on a credit card, and handling an unexpected $500 expenditure by using savings. In multivariate logistic regression analyses that include variables for both subjective and objective financial knowledge, financial capability, financial stress, help-seeking activities, and demographic and socioeconomic characteristics, the strongest results are for financial capability.

Author(s): Karen Duncan, Jamal Tavosi

Moderators

Karen Duncan

Associate Professor, University of Manitoba

University of Manitoba, Associate Professor

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

110 The Relationship Between Homeownership, Race, Income, and the Effect on Making Investment Decisions

The objective of this study is to examine the relationship between homeownership, race, and income and their effect on financial risk taking and portfolio stock allocation. Using the 2016 Survey of Consumer Finances we investigate whether homeowners are more likely to subjectively rate themselves as risky and allocate a greater percentage of investment portfolio to risky asset holdings as compared to non-homeowners.

Author(s): Marty Cotwright, Portia Johnson

Presenters

Marty Cotwright

PhD Student, University of Georgia

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

111 Transformative Outcomes of Consumer Well-Being in the Era of IR 4.0: Opportunities and Threats of Physical, Biological and Digital Technologies Across Sectors

The 4th Industrial Revolution (IR 4.0) is now well underway, but its impact on the various sectors of the society and overall consumer well-being is less certain. The article proposes a framework that investigates how the interaction amongst the three major anchors of IR 4.0: physical, biological and digital are likely to impact the various sectors of society and the transformative outcomes of these interactions on the critical dimensions of consumer well-being, i.e., individual, social and environmental levels. Finally, the transformative outcome potentials for well-being in the context of the three domains of IR 4.0 are examined in terms of the opportunities and threats that they offer. The public policy implications and directions for future research are also offered.

Author(s): Abhijit Roy, Marat Bakpayev, Melanie Florence Boninsegni, Smriti Kumar, Jean-Paul Peronard, Thomas Reimer

Presenters

Abhijit Roy

Professor of Marketing, University of Scranton

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

112 Understanding the Gendered Difference in Intergenerational Giving in China

This study aims to understand: 1) Who is paying for students overseas? 2) What factors influence intergenerational giving in higher education? Three theoretical perspectives guide our thinking. The exchange perspective suggests that older generations support younger generations in the expectation of material return when aging. Altruism perceptive suggests that intergenerational giving usually flows from the better-off to the needier. Solidarity perspective suggests that emotional closeness is the foremost dimension in intergenerational support. In line with Confucius's ideology, Chinese society is more vigorous in differentiating men and women's traditional gender roles. Sons/grandsons are deemed to have a better income prospective, while daughters/granddaughters are expected gentler, nicer and closer to their parents and grandparents. These three theoretical perspectives provide conflicted guidance in understanding intergenerational giving in China. Under the exchange perspective, we may expect sons/grandsons to get more support, while altruism and solidarity perspectives suggest otherwise. Empirical evidence appears to be contradicted too. A further investigation of this topic is needed and our study meets this need.

Author(s): Brin Xu, Jinhee Kim

Presenters

Brin Xu

Ph.D. Student, University of Maryland, College Park

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

113 What Are the Differences Among and Between U.S. Adults Who Use Payday Loans & Check-Cashing Services and Those Who Do Not?

Approximately 28% of U.S. adults use alternative financial services (AFS) providers to obtain check-cashing services, seek payday advance loans, or both (non-bank financial service users, NBFS). Prior research focused on three categories of AFS users: individuals who utilize payday loans; individuals who utilize check-cashing services; and individuals who utilize both. We described the key demographics of these groups and illustrated how these three groups differ from each other and from the general population. This present work includes an additional level of categorization--willingness to enroll one's accounts in automatic financial transaction data collection (e.g. Mint). Using the financial transaction data in conjunction with our data on the use of AFS, we regrouped our categories of AFS into four new groups. We then analyze the differences among the newly defined four groups of AFS users and include socio-demographic characteristics to offer greater explanatory power. We consider differences in money management between AFS and non-AFS users.

Author(s): Meimeizi Zhu, Angela Fontes, Justine Bulgar-Medina

Presenters

Meimeizi Zhu

Data Scientist, NORC at the University of Chicago

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

202 An Analysis of Millennials Expenditures on Pets

Nearly two-thirds of U.S. households own pets (American Veterinary Medical Association [AVMA] 2019). Caring for pets is expensive and spending recently has snowballed (American Pet Products Association [APPA] 2019). Data from the APPA showed that Americans collectively spend around $72.56 billion annually on pets. Figure 1 shows the increase in spending on pets since 2000. Millennials or Generation Y (born 1981-1996) (Dimock, 2019) are the largest living generation in America. Although they are less likely to be homeowners, car owners, get married or start a family, millennials lead the generations in pet ownership. Psychologists believe that pets replace children for millennials (Bhattarai 2016). This poster analyzes the influence of millennials' pet expenditures of time and money on their time and money recreational and social activities expenditures. The results are of interest to pet market researchers, social scientists and family science researchers.

Author(s): Aditi Routh, Brenda Cude

Presenters

Aditi Routh

PhD Student, University of Georgia

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

203 Does Biological Aging Moderate the Effect of Chronological Aging on Risk Aversion?

This study analyses the relationship between aging and risk aversion in the context of cognition. Specifically, this study examines 1) whether chronological aging is associated with the risk preference, 2) whether biological aging is associated with the risk preference 3), and whether the biological aging moderates the relationship between chronological aging and risk preferences.

Author(s): Muna Sharma, Swarn Chatterjee

Presenters

Muna Sharma

Graduate Student, University of Georgia

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

204 Feasibility of Financial Education/Coaching for Adults with Severe Mental Illness (SMI)

This pilot study tested the feasibility and efficacy of the critical content and delivery mode for financial education/coaching among adults with severe mental illness. All received Medicaid for health insurance and their income was mainly Social Security Disability, about $730 - $800/month. A few worked part-time for wages. Some participants managed their own finances independently and others had a payee. The participants were able to learn financial education concepts and apply their learning and knowledge to their personal financial needs. In addition, those who completed financial coaching were able to discuss tangible ways of applying financial concepts to their life and improve financial decision-making. Many participants were unaccustomed to thinking about their finances more than one month at a time. Planning and saving for emergency needs were new concepts and challenging for the participants due to their low income. Overall, the pilot study found that financial education and coaching is feasible among adults with SMI.

Author(s): Carol A Janney, Brenda Long

Presenters

Carol Janney

Research Director, Pine Rest Christian Mental Health Services

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

205 People, Profiles, and Purchases: A Consumer Analytics Evaluation of Integrated Social Commerce Sites

Social commerce sites allow consumers and sellers to engage in two concurrent types of interaction during the buying process. These sites provide the addition of online social signals alongside traditional e-commerce product information. Through these social signals sellers communicate, and consumers react to, a variety of influences during the shopping experience. This study seeks to fill a gap in current research by investigating how the combined e-commerce and social networking functionality of social commerce sites may impact consumer purchasing behavior. More specifically, it focuses on those social signals specifically communicated through profile pictures, logos, and other social networking practices (e.g. “follows,” “likes”), and their correlation to retail shop performance indicators on a social commerce site. Using a sample of social and commerce performance indicators from US-based shops on “Etsy.com”, and a stepwise negative binomial regression analysis, we evaluate the influence of explicit and implicit social signals on consumer purchasing behavior. Findings suggest consumers are more likely to purchase from shops where an owner displays a picture of a human likeness and has greater consumer engagement shown by higher numbers of reviews and followers. These features also appear to lower the impact of the age of a shop.

Author(s): Morgan Bryant

Presenters

Morgan Bryant

Assistant Professor, St. Joseph's University

Morgan M. Bryant, PhD is an Assistant Professor in the Marketing Department of The Haub School of Business at Saint Joseph’s University (SJU). In this role, Dr. Bryant teaches Marketing Research, Marketing Analytics, and Principles of Marketing in the undergraduate and graduate... Read More →

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

206 Personal Financial Management Tools: Delivering on the Promise of Convenient Financial Well-being?

While several major financial institutions and traditional banks have launched mobile apps that allow customers to quickly check account balances, deposit checks, and transfer funds, third-party personal financial management (PFM) tools have looked to support financial wellbeing by promising consumers an easier and more convenient way to budget, track spending, invest, and even improve credit scores. Though anecdotal evidence abounds, few nationally representative surveys have investigated the take-up, success, and drop-off rates of these PFM tools. This study seeks to fill that gap and investigates the reasons why users begin using, stop using, or do not consider using third-party PFM tools, the demographics of these groups, and how these groups differ from each other and from the general population. Findings indicated that use of these financial apps is lower than may have been anticipated – only 29% had heard of PFM tools, and a mere 12% of American adults have ever used a third-party personal finance app or website. Of the 12% using apps, almost half of users had subsequently stopped using the PFM tool they had been using. The most frequently cited reason for non-use (either ending use or never having used PFM tool) was perceived lack of value.

Author(s): Mark Lush, Katheryn Meagher, Angela Fontes

Presenters

Mark Lush

Manager, Behavioral Scientist, NORC at the University of Chicago

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

207 Racial/Ethnic Differences in the Distribution of Wealth in the United States

In the United States, there is a huge wealth gap between racial/ethnic groups, with White households having about 10 times the median wealth of Black households and 8 times that of Hispanics (Kochhar and Cilluffo 2017). We conducted quantile regressions on net worth, using the Inverse Hyperbolic Sine (IHS) transformation, and one salient result from the median regression was that the Black-White difference in wealth did not vary by age, but younger Hispanic households had higher net worth than comparable White households, while older Hispanic households had lower net worth than comparable White households. The pattern for Asian/other-White differences in median net worth was even more striking, with Asian/other households at age 30 having 83% higher net worth than comparable White households, but 53% lower net worth at age 75. We discuss implications of these and other results. Most previous studies on the racial/ethnic wealth gap in the United States have used net worth as a measure of wealth (e.g., Blau and Graham 1990; Smith 1995). A variety of explanations have been proposed and studied to explain the wealth gaps. Our objective was to ascertain factors related to household net worth.

Author(s): Sherman D. Hanna, Kyoung Tae (KT) Kim, Xianhua Zai

Presenters

Sherman Hanna

Professor, The Ohio State University

Professor, and Chair, Consumer Sciences Program Ohio State University. He has published in Applied Economics Letters, Financial Services Review, Journal of Consumer Research, Journal of Consumer Affairs, Family and Consumer Sciences Research Journal, International Journal of Consumer... Read More →

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

208 The Determinants of Bankruptcy for US Households: Evidence from the 2010, 2013, and 2016 Survey of Consumer Finances

When affected with financial hardships, some people decide to declare bankruptcy to establish a payment plan, eliminate debts and obtain legal protection from the courts. However, bankruptcy can remain on peoples' credit reports for 7 to 10 years, depending on the type of bankruptcy they choose to file for. Depending on state laws, a bankruptcy trustee can be forced to liquidate certain assets, which could delay or disrupt the financial goals of the persons filing for bankruptcy and negatively affect their future financial well-being. Even though the number of total filings have declined since 2010 and remained relatively steady between 2015 and 2018, the factors leading to personal bankruptcy still remain unclear. The purpose of this study is to investigate the determinants of consumer bankruptcy decisions.

Author(s): Guopeng Cheng, Chen Xu

Presenters

Guopeng Cheng

Collegiate Assistant Professor, Virginia Tech

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

209 What Factors Effect Generational and Gender Differences in Subjective Retirement Income Adequacy?

Comparing Baby Boomers (Boomers) and Generation X (Gen X), our research seeks to identify factors that may affect subjective retirement income adequacy (RIA) of these two generations, the importance of which is based on the fact that each has faced a different retirement planning environment. Potential influential factors include the projected availability and amount of Social Security benefits, type and accessibility of employer-based retirement plans, economic conditions, labor market participation pattern, gender and racial equity, educational attainment, marital status, investment risk tolerance, and debt load. Data are from the 1989, 2001, and 2016 Survey of Consumer Finances. Ordinal logistic regression allows regression of gender and generation on a 5-level subjective measure of retirement income adequacy while controlling for various socioeconomic, demographic, and financial planning behavior characteristics. While there was no significant relationship between 2001 and 1989, being female in 2016 was associated with a 108% greater likelihood of rating subjective RIA at a higher level than men. This shift in effect may be attributable to such factors as the shrinking wage gap, increased educational attainment, and greater workforce participation of women.

Author(s): Dalisha Herring, Deanna Sharpe, Joan Hermsen

Presenters

Dalisha Herring, PhD, CFP

Dalisha D. Herring, Ph.D., CFP®, earned her doctorate at the University of Missouri in the Department of Personal Financial Planning’s CFP Board-Registered doctoral program. She earned her Master of Business Administration degree from Florida State University and Bachelor of Science... Read More →

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

210 Which information to believe on online medical sites?

One in five men and one in ten women will experience kidney stones in their lifetime (National Kidney Foundation, 2020). The prevalence of this painful, and potentially dangerous, condition has been on the rise since the late 1970s with an increase of 8.8% since the late 2000’s. Despite how common this condition is, the information available to consumers on this topic is full of contradictory advice. This poster compares the conflicting information found across 10 websites and from 10 current academic papers to illustrate the conundrum consumers face when trying to determine the preponderance of information. The poster also highlights similar instances of top websites such as WebMD.com, Mayoclinc.org and the National Institutes of Health site for physicians that offer contradictory advice for consumers on other topics from nutritional supplements to common prescriptions.

Author(s): Holly Hunts, Edward Dratz

Presenters

Holly Hunts

Associate Professor, Montana State University

Hello new and old colleagues! My current research agenda includes a project about stunting in west Africa and introducing eggs as a remedy. Another project looks at English Language Learners and determining which of two interventions for teachers is more effective. Another project... Read More →

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube

6:00pm CDT

211 Youth, Visualization and Financial Knowledge

Using data gathered from a randomized experimental design, researchers examine the effects of a financial data visualization intervention on respondents having either a high school education, some college or a bachelor's degree. Financial knowledge scores from five commonly used financial knowledge questions are used to compare differences among and between groups using ANCOVA and Poisson regression. Results indicate the visual plus text intervention places high school graduates with financial knowledge equal to college graduates with no intervention. This research makes the case for early intervention to help those potentially going to college understand the consequences of taking out student loans and managing their financial lives.

Author(s): Michael Kothakota, D. Elizabeth Kiss

Presenters

Michael Kothakota

CEO, WolfBridge Wealth

Michael is the CEO of WolfBridge Financial and has been working in the financial planning industry for over 15 years. He has earned a Ph.D. in Financial Planning from Kansas State University, a Master's in Predictive Analytics from Northwestern University, and is a CERTIFIED FINANCIAL... Read More →

Thursday May 21, 2020 6:00pm - 6:00pm CDT
ACCI YouTube