The impact of risk attitudes on financial investments / Walter Hyll; Maike Irrek
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The impact of risk attitudes on financial investments
Discovery
834458446
URN
urn:nbn:de:gbv:3:2-48596
DOI
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Author
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Publication history
Halle (Saale) : Leibniz-Inst. für Wirtschaftsforschung - IWH, 2015
Content
Online-Ressource (PDF-Datei: IV, 26 S., 0,65 MB) : graph. Darst.
Edition
Language
eng
Comment
Abstract
Several scholars analyze the relationship between individuals’ willingness to take risks and financial investment decisions. We add to this literature in using data from the German Socio-Economic Panel which allow ruling out that investments in risky assets itself impact on risk attitudes. We show that individuals with a higher willingness to take risks are more likely to hold bonds, stocks, and company assets. When grouping individuals into risk groups, our results reveal that high risk takers are also less likely to own a life insurance. If endogenous adaption of risk attitudes from holding assets in previous years is not taken into account, the impact of risk attitudes on holding risky assets is upward biased.
Series
IWH-Diskussionspapiere ; 2015,10 ppn:837399270