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Confidence, Financial Literacy and Investment in Risky Assets : Evidence from the Survey of Consumer Finances
Cupák, Andrej - 2020
's own financial knowledge, confidence in the economy, and objective financial literacy on investment in risky financial … risk aversion, we find that objective financial literacy is positively related to investment in risky assets as well as …
Persistent link: https://www.econbiz.de/10012834179
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What can we learn about household consumption expenditure from data on income and assets?
Eika, Lasse; Mogstad, Magne; Vestad, Ola Lotherington - 2020
A major difficulty faced by researchers who want to study the consumption and savings behavior of households is the lack of reliable panel data on household expenditures. One possibility is to use surveys that follow the same households over time, but such data are rare and they typically have...
Persistent link: https://www.econbiz.de/10012172449
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Risky assets in Europe and the US : risk vulnerability, risk aversion and economic environment
Bekhtiar, Karim; Fessler, Pirmin; Lindner, Peter - 2019
We use cross-country microdata to analyse the risk taking of households in Europe and the US. Concerning the extensive as well as the intensive margin of risky assets, European households differ substantially from US households; but also inside Europe we document substantial differences....
Persistent link: https://www.econbiz.de/10011997521
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Investing in a Multidimensional Market
Jacobs, Ph.D., Bruce I. - 2020
Many years ago, the authors demonstrated that there is much greater dimensionality to the stock market than is suggested by the one-factor capital asset pricing model. Investors today continue to underestimate the market's dimensionality through their recent embrace of “smart beta”...
Persistent link: https://www.econbiz.de/10012856488
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Allocating to Thematic Investments
Somefun, Koye; Perchet, Romain; Yin, Chenyang; … - 2021
In this paper we introduce the notion of themes as an additional investment dimension beyond asset classes, regions …
Persistent link: https://www.econbiz.de/10013212526
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The Characteristics of Factor Investing
Blitz, David - 2018
We dissect the realized performance of factor-based equity portfolios using a characteristics-based multi-factor return model. We show that generic single-factor portfolios, which invest in stocks with high scores on one particular factor, are sub-optimal because they ignore the possibility that...
Persistent link: https://www.econbiz.de/10012915593
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Household portfolios in Türkiye : results from the household finance and consumption survey
Ceritoǧlu, Evren; Cilasun, Seyit Mümin; … - In: Central Bank review / Central Bank of the Republic of Turkey 23 (2023) 4, pp. 1-17
This paper analyzes the distribution of household portfolios in Türkiye using a fresh data set, the Central Bank of the Republic of Türkiye - Household Finance and Consumption Survey. The empirical analysis concentrates on the motives behind household saving preferences and the distribution of...
Persistent link: https://www.econbiz.de/10014479723
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Financial Investment and Human Capital During Life Cycle
Anastasopoulos, Anastasios - 2018
inheritance) and a number of units of human capital.Human capital is measured in efficiency units, as in the theory of growth. By … contrast to the theory of growth, efficiency units increase as the result of training and education. Training is a costly …
Persistent link: https://www.econbiz.de/10012937948
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Capital income taxation and risk taking under prospect theory
Hlouskova, Jaroslava; Tsigaris, Panagiotis Demetrios - 2012
; portfolio choice ; prospect theory ; loss aversion ; reference level ; taxation …This research examines capital income taxation for a loss averse investor under some acceptable in the literature … the attractive full loss offset provisions. However, risk taking can be stimulated if the investor interprets part of the …
Persistent link: https://www.econbiz.de/10009684798
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Wage risk and portfolio choice : the role of correlated returns
König, Johannes; Longmuir, Maximilian - 2021
From standard portfolio-choice theory it is well-understood that background risk, overwhelmingly due to wage risk, is … investment. We quantify the influence of wage risk on German investors’ financial portfolio shares and find that an increase of …
Persistent link: https://www.econbiz.de/10012623685