Investors are becoming more sensitive about returns and losses, especially when the investments are exposed to downside risk potential in the financial markets. Despite the computational intensity of the downside risk measures, they are very widely applied to construct a portfolio and evaluate...

Using the data from the 2013, 2015, and 2017 waves of the China Household Finance Survey, this paper explores the impact of participation in social pension insurance on household risky asset investment with the time-varying difference-in-difference model. The research findings indicate that, in...