Financial Risk Tolerance and Financial Risk Attitudes of Commercial Bank Customers and the Role of REBT-Based Business Coaching: Implications for Accounting Research

This study investigated whether REBT-based business coaching can improve financial risk tolerance and financial risk attitudes among commercial bank customers in Nigeria. In this study which employed a two-group random assignment pretest –posttest design, 64 participants stayed in the REBT-based business coaching group whereas 63 participants stayed in the control group throughout the study period. The coaching program consisted of 8-weeks coaching activities. Quantitative data was collected before and immediately after the coachi ng program as well as 3-months later using measures of financial risk tolerance and financial risk attitudes. From the results, it was shown that REBT-based business coaching significantly improved the financial risk tolerance [F(1, 124)  = 521.996,p <  0.05, η2p = 0.81] and financial risk attitudes [F(1, 124)  = 582.613,p <  0.05, η2p = 0.83] of the commercial bank customers. Analysis of follow-up data revealed that these positive improvements were significantly sustained by study participants who received the REBT-based business coaching (financial risk tolerance [F(1, 126)  = 339.492,p <  0.05, η2p = 0.73,\(\mathop {\Delta R}\nolimits^{2}\) = 0.767] and financial risk attitudes [F(1, 126)  = 378.505,p <  0.05, η2p = 0.76,\(\mathop {\Delta R}\nolimits^{2}\) = 0.758]). Therefore, the REBT-based business coaching showed promising results by improving the financial risk toleran...
Source: Journal of Rational-Emotive and Cognitive-Behavior Therapy - Category: Psychiatry & Psychology Source Type: research