Texas Tech Ph.D. Candidate Earns Distinguished Dissertation Award

Written by Erin Hawes

Hyrum Smith, a Ph.D. candidate at Texas Tech University and current assistant professor at Virginia Tech, has been awarded the 2010 Robert H. Hermann Ph.D. Dissertation Award from the American Council on Consumer Interests (ACCI).

Smith’s dissertation was titled “Three Essays on Financial Sophistication and Effective Decision Making” and was chosen among a field of high-quality applicants.

In the three essays he completed, Smith discussed topics including how high leverage among older households is influenced by tax leverage factors that encourage borrowing housing debt, the influence of financial sophistication on adjustable rate mortgage borrowing and the influence of financial sophistication and the likelihood of a household holding a Roth IRA.

“My goal in writing the paper was to primarily show that financial literacy or financial sophistication does matter and it does make a difference in helping households make more effective financial decisions,” Smith said.

Smith will be presented with his award at the 2010 ACCI annual conference April 14-16.

CONTACT: Michael Finke, associate professor, Department of Personal & Financial Planning, Texas Tech University, (806) 742-5050, or Michael.finke@ttu.edu