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Sherman Hanna
Campbell Hall 265K
(614) 292-4584
hanna@ehe.osu.edu
Professor
Visit Sherman Hanna's website.
View Sherman Hanna's curriculum vitae.
Ph.D., Cornell University, January, 1974.
Major: Applied Welfare Economics. Minors:
1) Economics
(2) Housing
Dissertation title: Two Structural Models for Family Income, Housing Consumption, Home Ownership, and the Labor Force Participation of Married Women.
M.S., Cornell University, 1973.
Bachelor of Science, Massachusetts Institute of Technology, June, 1968.
Major: Economics. Senior Thesis Title: The Negative Income Tax and Work Effort.
Professor and Department Chair, Family Resource Management Department, Ohio State University, 1986-1994.
Professor, Department of Human Development and Family Studies, 1985- 1986. Professor, Department of Family Economics, Kansas State University, 1984 - 1985. Acting Head, 1982-1985. Associate Professor, 1979-1984. Assistant Professor, 1977-1979.
Assistant Professor, Department of Family and Child Development, Auburn, Alabama 36830. September, 1974 - July, 1977.
Assistant Professor, Department of Family Economics and Management, College of Human Resources, Southern Illinois University, Carbondale, Illinois 62901. September, 1973 - June, 1974.
Major Areas of Investigation
Household investment decisions, Racial/ethnic differences in financial decisions, Retirement adequacy, Household credit constraints
Representative Publications:
Lindamood, S., Hanna, S. D., & Bi, L. (2007). Using the Survey of Consumer Finances: Methodological considerations and issues, Journal of Consumer Affairs, 41 (2).
Rha, J.-Y. , Montalto, C. P., & Hanna, S. D. (2006). The effect of self-control mechanisms on household saving behavior, Financial Counseling and Planning, 17 (2).
Yao, R. & Hanna, S.D. (2005). The effect of gender and marital status on financial risk tolerance. Journal of Personal Finance, 4 (1), 66-85.
Yao, R., Gutter, M.S., & Hanna, S.D. (2005). The financial risk tolerance of Blacks, Hispanics and whites. Financial Counseling and Planning, 16 (1), 51-62.
Yao, R., Hanna, S. D., & Lindamood, S. (2004). Changes in financial risk tolerance, 1983-2001. Financial Services Review, 13 (4), 249-266.
Jeong W. Y. & Hanna, S. D. (2004). Risk tolerance and financial satisfaction, International Journal of Human Ecology, 5(1), 35-43.
Optimal Life Cycle Savings and Spending; Optimal Retirement Planning; Optimal Credit Use
Hanna, S. D. & Lindamood, S. (2004). An improved measure of risk aversion. Financial Counseling and Planning, 15 (2), 27-38.
Yao, R., Hanna, S. D., & Montalto, C. P. (2003). The capital accumulation ratio as an indicator of retirement adequacy. Financial Counseling and Planning, 14 (2), 1-11.
Hanna, S.D. & Yao, R. (2003) Optimization for households. Consumer Economics, 19 (5), 60-64. (In Chinese)
Moon, S. J., Yuh, Y., & Hanna, S. D. Financial ratio analysis of Korean households. (2002)Family and Consumer Sciences Research Journal, 11(2), 153-171.
Yuh, Y., Hanna, S., & Montalto, C. P. (1998). Mean and pessimistic projections of retirement adequacy. Financial Services Review, 7(3), 175-193.
Yuh, Y., Montalto, C. P. & Hanna, S. (1998). Are Americans prepared for retirement? Financial Counseling and Planning, 9(1), 1-12
Chang, Y.R., Hanna, S. & Fan, X.J. (1997). Emergency fund levels: Is household behavior rational?, Financial Counseling and Planning, 8 (1), 47-55.
Yao, R., Hanna, S.D., & Montalto, C.P. (2002). Factors related to meeting the capital accumulation ratio guideline. Financial Services Review, 11(2), 153-171.
Hanna, S.D., Gutter, M.S., & Fisher, P.J. (2003). Risk aversion and the elasticity of marginal utility with respect to consumption, Consumer Interests Annual, 49.
Lai, C. W. & Hanna, S. D. (2004). Are the portfolios of older worker households efficient? Journal of Personal Finance, 3(4), 101-117.
Hanna, S. & Chen, P. (1999, July). Small stocks versus large: It's how long you hold that counts AAII Journal, XXI (6), 26-27.
Hanna, S. & Chen, P. (1997). Subjective and objective risk tolerance: Implications for optimal portfolios. Financial Counseling and Planning, 8(2), 17-26.
Hanna, S. & Chen, P. (1996). Efficient portfolios for saving for college, Financial Counseling and Planning, 7, 115-122.
"Research-based investment education guidelines for Black and Hispanic households: Integration of household survey research, focus group findings, and evaluation of educational materials and programs."
"Investment Decision-Making of Couple Households"
Refereed Journal Articles
Lindamood, S., Hanna, S. D., & Bi, L. (2007). Using the Survey of Consumer Finances: Methodological considerations and issues, Journal of Consumer Affairs, 41, in press.
Rha, J.-Y. , Montalto, C. P., & Hanna, S. D. (2006). The effect of self-control mechanisms on household saving behavior, Financial Counseling and Planning, 17 (2), in press.
Yao, R. & Hanna, S.D. (2005). The effect of gender and marital status on financial risk tolerance. Journal of Personal Finance, 4 (1), 66-85.
Yao, R., Gutter, M.S., & Hanna, S.D. (2005). The financial risk tolerance of Blacks, Hispanics and whites. Financial Counseling and Planning, 16 (1), 51-62.
Hanna, S. D. & Lindamood, S. (2004). An improved measure of risk aversion. Financial Counseling and Planning, 15 (2), 27-38.
Lai, C. W. & Hanna, S. D. (2004). Are the portfolios of older worker households efficient? Journal of Personal Finance, 3(4), 101-117.
Yao, R., Hanna, S. D., & Lindamood, S. (2004). Changes in financial risk tolerance, 1983-2001. Financial Services Review, 13 (4), 249-266.
Jeong W. Y. & Hanna, S. D. (2004). Risk tolerance and financial satisfaction, International Journal of Human Ecology, 5(1), 35-43.
Yao, R., Hanna, S. D., & Montalto, C. P. (2003). The capital accumulation ratio as an indicator of retirement adequacy. Financial Counseling and Planning, 14 (2), 1-11.
Hanna, S.D. & Yao, R. (2003) Optimization for households. Consumer Economics, 19 (5), 60-64. (In Chinese)
Yao, R., Hanna, S. D., & Montalto, C. P. (2002). Factors related to meeting the capital accumulation ratio guideline. Financial Services Review, 11 (2), 153-171.
Moon, S. J., Yuh, Y., & Hanna, S. D. (2002). Financial ratio analysis of Korean households. Family and Consumer Sciences Research Journal, 30(4), 496-535.
Hanna, S. D., Gutter, M. S.& Fan, J. X.(2001). A measure of risk tolerance based on economic theory. Financial Counseling and Planning, 12(2), 53-60.
Other Publications
Bi, L. & Hanna, S. D. (2006). Do financial planners serve the interests of their clients? Use of financial planners, credit card balances and liquid assets. Consumer Interests Annual, 52.
Wang, C. & Hanna, S. D. (2006). The risk tolerance and stock-ownership of business-owning households. Consumer Interests Annual, 52.
Lindamood, S. & Hanna, S. D. (2006). The more financially knowledgeable person in older couple households. Consumer Interests Annual, 52.
Zhao, J., Hanna, S. D., & Lindamood, S. (2006). Credit constraints and the debt service burden of households. Consumer Interests Annual, 52.
Chen, C.-C. & Hanna, S. D. (2006). Changes in retirement adequacy, 1995-2001: Accounting for stages of retirement. Consumer Interests Annual, 52.
Chen, C.-C, Peng, T.-C., Evans, D. A., & Hanna, S. D. (2006). Putting your money where your mouth is. Do households optimize their investment portfolios based on their subjective risk tolerance? Consumer Interests Annual, 52.
Bae, M. K., Hanna, S. D., & Baek, E. (2005) Before and after the economic crisis: Changes in financial ratios of the self-employed households. Consumer Interests Annual, 51.
Lindamood, S., & Hanna, S. D. (2005). Determinants of the wife being the financially knowledgeable spouse. Proceedings of the Academy of Financial Services.
Hanna, S. D. & Lindamood, S. (2005). Risk tolerance of married couples. Proceedings of the Academy of Financial Services.
Hanna, S. D. (2005). Most cited authors, 1990-2004. Financial Counseling and Planning, 16 (1), iii-iv.
Bae, M. K., & Hanna, S. D. (2004). Comparison of Korean and U.S. household portfolios. Proceedings of the Association for Financial Counseling and Planning Education.
Hanna, S. D., & Lindamood, S. (2004). The investment risk tolerance of same-sex couples. Proceedings of the Academy of Financial Services.
Yao, R., Gutter, M. S., & Hanna, S. D. (2004). The effect of race/ethnicity on financial risk tolerance. Proceedings of the Academy of Financial Services.
Hanna, S. D. & Lindamood, S. (2004). An improved measure of risk aversion. Proceedings of the Academy of Financial Services.
Yao, R. & Hanna, S. D. (2004). The effect of gender and marital status on financial risk tolerance. Consumer Interests Annual, 50.
Lai, C. W. & Hanna, S. D. (2004). The portfolio efficiency of older worker households. Consumer Interests Annual, 50.
Hanna, S. D. (2004). Panel on teaching ethics: Ethics and financial planning: An economic analysis. Consumer Interests Annual, 50.
Lai, W., Yao, R., & Hanna, S. D. (2003). Financial risk tolerance in the United States. Proceedings of the 5th Conference of the Asian Consumer and Family Economics Association, Taipei, December, 2003.
Hanna, S. D. & Yao, R. (2003). Risk tolerance. In Vitt, L. A. (Ed.) Encyclopedia of Retirement and Finance Greenwood Press, vol 2, pp. 685-689.
Lai, C.W., & Hanna, S. D. (2003). Are U.S. household portfolios efficient? Proceedings of the 11th Annual Conference on Pacific Basin Finance, Economics and Accounting, November 21-22, 2003, The Grand Hotel, Taipei, Taiwan
Hanna, S. & Garman, E. T. (2003, July-August). Projected retirement adequacy of workers age 50 to 61. Profit Sharing, pp. 6-9.
Kim, S. & Hanna, S. D. (2003). Saving lives: International comparisons of the potential benefits of automobile safety cost to reduce accidental death, Consumer Interests Annual, 49.
Hanna, S. D., Gutter, M. S., & Fisher, P. J. (2003). Risk aversion and the elasticity of marginal utility with respect to consumption, Consumer Interests Annual, 49.
Yao, R. & Hanna, S. D. (2003). Has financial risk tolerance changed since 1983? Consumer Interests Annual, 49.
Gutter, M. S. & Hanna, S. D. (2003). Applying a needs based approach to disability insurance planning. Journal of Personal Finance, 2 (1), 78-88.
Hanna, S. (2003). Financial statements and budgeting. In Garman, E. T., Xiao, J. J., & Brunson, B. G. (eds.) The mathematics of personal financial planning: Using calculators and computers, Third edition, pp. 122-145.
Hanna, S., Gutter, M., & Gibbs, R. W. (2003). Life insurance math. In Garman, E. T., Xiao, J. J., & Brunson, B. G. (eds.) The mathematics of personal financial planning: Using calculators and computers, Third edition, pp. 256-280.
Hanna, S. D. (2002). The academic field of Family Finance. Financial Counseling and Planning, 13(2), iii-iv.
Yao, R. & Hanna, S. D. (2002). The investment-asset ratio - A plausible replacement for the capital accumulation ratio guideline? Proceedings of the Association for Financial Counseling and Planning Education, p. 66.
Hanna, S. D. (2002). Use of net worth to check spending estimates. In Edie Milligan (Ed.), Tips from the Top: Targeted Advice from America's Top Money Minds, Alpha Books.
Hanna, S. D. (2002). Research esoterica. Financial Counseling and Planning , 13(1), iii-vi.
Jeong, W.-Y., Hong, E.-S., & Hanna, S. D. (2002, July). Credit use and financial stress of college students. Proceedings of the International Household & Family Research Conference 2002: CONSUMERS AND FAMILIES AS MARKET ACTORS, National Consumer Research Centre, Helsinki, Finland, p. 91.
Hanna, S. D. & Gutter, M. S. (2002, July). Implications of variations in willingness to pay to reduce the risk of death. Proceedings of the International Household & Family Research Conference 2002: Consumers And Families As Market Actors, National Consumer Research Centre, Helsinki, Finland, p. 60.
Jeong, W.-Y. & Hanna, S. D. (2002, July). Risk tolerance and financial satisfaction. Proceedings of the International Household & Family Research Conference 2002: Consumers And Families As Market Actors, National Consumer Research Centre, Helsinki, Finland, p. 59.
Lai, C. W., Hanna, S. D., & Montalto, C. P. (2002). Optimal dynamic portfolio strategies for long-term investment horizons. Consumer Interests Annual, 48.
Moon, S. J., Yuh, Y., & Hanna, S. D. (2002). Financial ratio analysis of Korean households: Are U.S. guidelines appropriate in Korea? Consumer Interests Annual, 48.
Hanna, S. D. (2002). Theoretical bases for financial ratio guidelines. Consumer Interests Annual, 48.
Hanna, S. D., Bi, L., Lai, C.W., Doll, K. M., Kim, E.-J., Ku, D., Elmerick, S.M., & Seo, J. (2002). Consistency of household savings, a standard retirement planning model, and a prescriptive life cycle model. Consumer Interests Annual, 48.
Yao, R. & Hanna, S. D. (2001). An in-depth examination of the capital accumulation guideline with financial planning client households. Proceedings of the Association for Financial Counseling and Planning Education, p. 35.
Hanna, S. D. (2001). Citations and scholarly research. Financial Counseling and Planning, 12(2), iii.
Jeong, W. Y., Hwang, D. S., & Hanna, S. (2001). Development of a measure of household financial health. Proceedings of the Association for Financial Counseling and Planning Education, p.33.
Yao, R., Hanna, S. D., & Montalto, C. P. (2001). Factors related to meeting the capital accumulation ratio guideline. Proceedings of the Academy of Financial Services, p. 23.
Lai, C. W., Hanna, S. D., & Montalto, C. P. (2001). Do individual investors make rational asset allocation decisions? Proceedings of the Academy of Financial Services, p. 9.
Rha, J-Y., Montalto, C. P., & Hanna, S. D. (2001). The effect of saving goals and expectations on household saving behavior. Proceedings of the Academy of Financial Services, p. 57.
Zhao, J., Montalto, C. P., & Hanna, S. D. (2001). Which households meet the household debt service burden guidelines? Proceedings of the Academy of Financial Services, p. 22.
Moon, S. J., Yuh, Y., & Hanna, S. D. (2001). Financial ratio analysis of Korean households In D. Sharpe (Ed.), Proceedings of the Asian Consumer and Family Economics Association, Fourth Biennial Meeting, 174-186.
Abdel-Ghany, M., Hanna, S., Ho, S.-H., Lee, H., Ogawa, I., Trappey, C., Xiao, J. J., Qingfei, Y, & Shijie, Y. (2001). Publish or perish: Academic journals in Asia and the United States. In D. Sharpe (Ed.), Proceedings of the Asian Consumer and Family Economics Association, Fourth Biennial Meeting, 325-330.
Book and Software Reviews:
Kotlikoff, L. J. & Burns, S. The Coming Generational Storm: What You Need to Know about America's Economic Future. Review in Financial Counseling and Planning, 15 (1), 2004.
Keown, A J. Personal Finance: Turning Money Into Wealth. Review in Financial Counseling and Planning, 14 (2), 2003, 93-94.
Dalton, M. A., Dalton, J. F., et al. Personal Financial Planning: Theory and Practice. (Second edition). Review in Financial Counseling and Planning, 14 (2), 2003, 95-96. (J.J. Fox was coauthor of the review.)
Campbell, J. Y. & Viceira, L. M. Strategic Asset Allocation. Review in Financial Counseling and Planning, 14 (1), 2003.
Program Chair for 2005 conference of the American Council on Consumer Interests.
Editor of research journal Financial Counseling and Planning, 1990-2002.
Member of editorial boards of Journal of Consumer Affairs, Journal of Family and Economic Issues, and Financial Counseling and Planning.
1. Won American College Award for paper presented at the 2007 conference of the Academy of Financial Services
2. Won Thompson Publishing Award for paper presented at the 2005 meeting of the Academy of Financial Services.
3. Won Certified Financial Planner Board Award for paper presented at the 2004 meeting of the Academy of Financial Services.
4. Won Certified Financial Planner Board Award for paper presented at the 2003 meeting of the American Council on Consumer Interests.
5. Won Certified Financial Planner Board Award for paper presented at the 2001 meeting of the Academy of Financial Services.
6. Won Texas Instruments Award for paper presented at the 1998 meeting of the Academy of Financial Services.
7. Received “Articles of Excellence” award in 1996 from the Certified Financial Planner Board.
8. Article with Jaimie Sung in 1996 issue of Financial Counseling and Planning received Best Article award from AFCPE Award committee (Awarded at Nov., 1998 meeting.)
9. McGraw-Hill Award for Best Research Paper in 1991 for a research paper presented at the Academy of Financial Services.
10. McGraw-Hill Award for Best Research Paper in 1991 for a research paper presented at the Academy of Financial Services.
11. Best paper award for presentation at the International Appliance Technical Conference in 1993 (with Bae, Martin, and Wang.)
12. Applied Consumer Research Award in 1989 for research paper presented at the American Council on Consumer Interests.
13. Financial Educator of the Year award from the Association for Financial Counseling and Planning Education, 1994.
14. Named Distinguished Fellow of the American Council on Consumer Interests, April, 2007
15. Named Distinguished Fellow of the Association for Financial Counseling and Planning Education (AFCPE), December, 1997.
Advisee Lan Bi (co-advisor, Catherine P. Montalto) won the 2006 ACCI Dissertation Award.
Advisee Rui Yao received second place for the 2004 ACCI Dissertation Award.
NASD Investor Education Foundation, $140,880 for a grant titled
"Research-based investment education guidelines for Black and Hispanic households: Integration of household survey research, focus group findings, and evaluation of educational materials and programs."
Research grant for $5,000 from the Certified Financial Planner Board to study investment decision-making of married couples, 2004-2005
Research Contract with the New York State Department of Social Services, Office of Program Planning, Analysis and Development, Bureau of Policy Analysis, "Valuing Basic Needs in New York State: Analysis of 1991 Consumer Expenditure Data," November 1993, $4,666 (46% overhead.)
Academic Challenge Grant (Part of the Selective Excellence Program of the Ohio Board of Regents) for Family Resource Management Expert Systems Laboratory. $75,000 per year for six years. 1989.
Development of Retirement Planning Computer Programs for Rural Families. Agricultural Experiment State Project KAN00463, 1983-1986.
Family Expenditure Norms for Various Types of Kansas Families. Agricultural Experiment State Project KAN00235, 1981-1983.
Residential Energy Alternatives for Rural Families. Agricultural Experiment State Project KAN00170, 1979-1981.
Project co-director (with Suzanne Lindamood):
1. "Quality Housing Environment for Low-Income Families", Alabama Agricultural Experiment Station, Hatch 423. Part of Southern Regional Research Project, S-95. Survey of 400 families in two low-income, rural Alabama counties. Questions on survey on housing conditions, resources, and housing preferences. (1976).
2. Auburn University Public Service and Extension Research Survey of 400 families in two urbanizing Alabama counties. Questions in surveys on housing conditions, resources, and housing preferences. (1976).
3. Auburn University and National Science Foundation. Survey in conjunction with Montgomery, Alabama, City Planning Department. Survey of 1,000 families in Montgomery, Alabama. Purposes of survey: A. Help Montgomery City Planning Department in allocation of Community Development Funds and other government funds for the improvement of housing. B. Add to analysis of S-95 regional housing research for total of 4,800 families. (1976).
FRM 360: Family Financial Management II
FRM 660: Family Financial Management Applications
FRM 741: Managerial Concepts and Their Measurement