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The determinants of recovery from the Black Saturday bushfire: demographic factors, behavioural characteristics and financial literacy

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  • Ammar Asbi
  • Vikash Ramiah
  • Xi Yu
  • Damien Wallace
  • Nisreen Moosa
  • Krishna Reddy

Abstract

We investigate the contribution of demographic factors, behavioural characteristics and financial literacy to recovery from the financial losses inflicted by the Black Saturday bushfire. Behavioural characteristics (such as overconfidence, self‐serving and loss aversion biases) in conjunction with bushfire survivors’ knowledge of financial indicators are used to determine recovery time. Data are collected through in‐depth interviews with bushfire survivors, academics and experts in natural disasters. The results show that demographic, behavioural and financial literacy factors have the potential to enhance the recovery process.

Suggested Citation

  • Ammar Asbi & Vikash Ramiah & Xi Yu & Damien Wallace & Nisreen Moosa & Krishna Reddy, 2020. "The determinants of recovery from the Black Saturday bushfire: demographic factors, behavioural characteristics and financial literacy," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 60(1), pages 15-46, March.
    • Handle: RePEc:bla:acctfi:v:60:y:2020:i:1:p:15-46
    DOI: 10.1111/acfi.12575
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    Cited by:

    1. Florian Gerth & Vikash Ramiah & Elissar Toufaily & Glenn Muschert, 2021. "Assessing the effectiveness of Covid-19 financial product innovations in supporting financially distressed firms and households in the UAE," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 26(4), pages 215-225, December.
    2. Robert Faff & Tim Kastelle & Micheal Axelsen & Mark Brosnan & Rebecca Michalak & Kathleen Walsh, 2021. "Pitching research for engagement and impact: a simple tool and illustrative examples," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 61(2), pages 3329-3383, June.
    3. Florian Gerth & Katia Lopez & Krishna Reddy & Vikash Ramiah & Damien Wallace & Glenn Muschert & Alex Frino & Leonie Jooste, 2021. "The Behavioural Aspects of Financial Literacy," JRFM, MDPI, vol. 14(9), pages 1-16, August.

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