Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/258287 
Year of Publication: 
2021
Citation: 
[Journal:] Risks [ISSN:] 2227-9091 [Volume:] 9 [Issue:] 11 [Article No.:] 205 [Publisher:] MDPI [Place:] Basel [Year:] 2021 [Pages:] 1-24
Publisher: 
MDPI, Basel
Abstract: 
The model of financial risk prediction we developed and present in our paper is based on the theoretical assumption that there exists a significant relationship between actual economic situation and values. This assumption confirmed by the research influences the potential risk in financial behaviour and it becomes actual especially in the case of changing life conditions. The concept of the model is based on data received from 3768 respondents questioned across the Czech Republic. Measured variables were indexed, and the cluster and factor analyses were used for multivariate analysis. The model is unique in the combination of personal values projected into six generalized value types and developed economic indexes clustered in four types of economic situations. The primary purpose of the model is to identify the anticipated personal financial risk of clients. The model has fundamental applications as a diagnostic or auto-diagnostic tool in social work, counselling, psychotherapy, and other helping professions, or as a research instrument leading to various hypotheses and to the enhancement of theories concerning economic behaviour.
Subjects: 
model
financial responsibility
financial well-being
financial knowledge
values
economic situation
risks
helping professions
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article
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