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Factors explaining the choice of a finance major: the role of students' characteristics, personality and perceptions of the profession

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  • Andrew Worthington
  • Helen Higgs

Abstract

This paper examines the role of student characteristics, personality, and perceptions of the banking and finance profession in determining the choice of an undergraduate finance major. The data employed is drawn from a survey of first-year business students at a large Australian university. Student characteristics examined include gender, secondary school studies in accounting, business and economics, grade point average and attendance mode. Perceptions of the banking and finance profession revolve around questions of overall interest, relationships of persons working within the profession, the manner in which the profession deals with problems and tasks, and the nature of these problems. A binary probit model is used to identify the source and magnitude of factors associated with a student's choice of major. The evidence provided suggests that the choice of a finance major is a function of students' overall interest in the profession, perceptions of how the profession deals with problems and tasks, the nature of these problems and tasks, mode of attendance and, to a lesser extent, gender. The study emphasizes the need to incorporate factors associated with students' personality and perceptions in analyses of this type.

Suggested Citation

  • Andrew Worthington & Helen Higgs, 2003. "Factors explaining the choice of a finance major: the role of students' characteristics, personality and perceptions of the profession," Accounting Education, Taylor & Francis Journals, vol. 12(1), pages 1-21.
    • Handle: RePEc:taf:accted:v:12:y:2003:i:1:p:1-21
    DOI: 10.1080/0963928032000088831
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    References listed on IDEAS

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    1. Rosina Mladenovic, 2000. "An investigation into ways of challenging introductory accounting students' negative perceptions of accounting," Accounting Education, Taylor & Francis Journals, vol. 9(2), pages 135-155.
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    3. Moy Yin Koh & Hian Chye Koh, 1999. "The determinants of performance in an accountancy degree programme," Accounting Education, Taylor & Francis Journals, vol. 8(1), pages 13-29.
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    5. Clifford Oswick & Patrick Barber, 1998. "Personality type and performance in an introductory level accounting course : a research note," Accounting Education, Taylor & Francis Journals, vol. 7(3), pages 249-254.
    6. Ann L. Owen & Elizabeth J. Jensen, 2000. "Why Are Women Such Reluctant Economists? Evidence from Liberal Arts Colleges," American Economic Review, American Economic Association, vol. 90(2), pages 466-470, May.
    7. Rumberger, Russell W. & Thomas, Scott L., 1993. "The economic returns to college major, quality and performance: A multilevel analysis of recent graduates," Economics of Education Review, Elsevier, vol. 12(1), pages 1-19, March.
    8. Anne Fortin & Joel H. Amernic, 1994. "A Descriptive Profile of Intermediate Accounting Students," Contemporary Accounting Research, John Wiley & Sons, vol. 10(S1), pages 21-73, December.
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    Cited by:

    1. Arnold, Ivo J.M., 2020. "Gender and major choice within economics: Evidence from Europe," International Review of Economics Education, Elsevier, vol. 35(C).
    2. Balasingham Balachandran & Michael Skully & Kevin Tant & John Watson, 2006. "Australian evidence on student expectations and perceptions of introductory business finance," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 46(5), pages 697-713, December.
    3. Leiv OPSTAD, 2019. "Different Attitudes Towards Mathematics Among Economic And Business Students And Choice Of Business Course Major In Norway," Social Sciences and Education Research Review, Department of Communication, Journalism and Education Sciences, University of Craiova, vol. 6(2), pages 6-30, November.
    4. Hunjra, Ahmed Imran & Rehman, Kashif-Ur- & Ahmad, Abrar & Safwan, Nadeem & Rehman, Ijaz-Ur, 2009. "Factors explaining the choice of finance major: students’ perception towards finance profession," MPRA Paper 40687, University Library of Munich, Germany.
    5. Beverley Jackling & Claude Calero, 2006. "Influences on Undergraduate Students' Intentions to become Qualified Accountants: Evidence from Australia," Accounting Education, Taylor & Francis Journals, vol. 15(4), pages 419-438.
    6. Pruijssers, Jorien Louise & Singer, Gallia & Singer, Zvi & Tsang, Desmond, 2023. "Social influence pressures and the risk preferences of aspiring financial market professionals," Journal of Accounting Education, Elsevier, vol. 62(C).

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