earticle

영어

This study aims to identify consumer portfolio features depending on the risk tolerance of wage earners who are threatened by employment stability and to review matters for improvement. Towards this end, how risk tolerance is demonstrated in the two different groups in employment stability level has been investigated, based on the existing theory asserting that optimal risk tolerance becomes lower according to personal employment stability. Moreover, the consumer portfolios of four groups by employment stability level and risk tolerance have been compared in this study. For the classification of employment stability level, whether employment type is a regular job was used as a proxy variable. The responses of questions on risk tolerance included in the 7th Korea Labor and Income Panel study was used for risk tolerance. As a result of the study, the ratio of those who have an attitude to tolerate risk among the respondents who have higher employment stability level was higher than those who have an attitude to tolerate risk among the respondents who have lower employment stability level. From the results of consumer portfolio comparison, the difference in employment stability level was clearer than the difference in risk tolerance. In addition, the composed items of consumer portfolio held by the group with higher employment stability were more diverse. The group with lower employment stability did not greatly invest in stocks, bonds and trust assets. Above all, the group with lower risk tolerance had higher ratio in mutual aid society assets than other groups. The analytical results in this study may help to improve consumer portfolio, when the results are processed into financial information, and the information is delivered to the group with weak employment stability.

한국어

외환위기 이후 경쟁이 심화되면서 일자리의 상당수가 비정규직 근로자로 채워지고 있다. 직업안정성의 악화는 소득 안정성의 악화로 이어져 고용지위에 관계없이 모든 임금 근로자의 가계재무관리에 위험요소로 작용한다. 직업안정성은 개인의 장기적․단기적 고용상태에 의한 것으로서 위험감수성향에 영향을 미치는 심리적 불안정의 가능성을 내포하고 있다. 이에 본 연구는 객관적인 직업안정성과 주관적인 위험감수성향에 따라 소비자의 포트폴리오에 차이가 있을 것으로 가정하고, 직업안정성에 따른 소비자의 위험감수 성향에 차이가 있는지를 파악하고, 직업안정성의 수준과 위험감수성향을 바탕으로 소비자를 네 집단으로 분류하였다. 연구결과, 직업안정성이 높은 집단은 상대적으로 다양한 가계재무 포트폴리오를 구성하고 있음을 알 수 있었으며, 직업안정성이 낮은 집단은 주식․채권․신탁자산의 보유율과 총 자산 대비 비중이 낮았다. 따라서 직업안정성이 낮은 집단의 임금 근로자를 대상으로 재무 교육을 실시함으로써 소비자 포트폴리오를 분산시켜 가계가 보유한 재무 위험을 경감시키도록 조력할 필요가 있다.