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http://ssrn.com/abstract=1509173
 
 

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Stature, Obesity, and Portfolio Choice


Jawad M. Addoum


University of Miami - School of Business Administration

George M. Korniotis


University of Miami

Alok Kumar


University of Miami - School of Business Administration

June 25, 2014


Abstract:     
Using multiple U.S. and European data sources, we show that observed physical attributes are related to risk-taking behavior in financial markets. Specifically, we find that individuals who are tall and of normal weight relative to their peers are more likely to participate in financial markets, and when they participate, they hold riskier financial portfolios. We also explore several potential mechanisms that might drive the relation between physical attributes and portfolio decisions. We find that teenage social experiences as well as genetic and prenatal endowments that are fixed at birth are the two channels through which height affects financial decisions. Further, we find that the relation between BMI and portfolio decisions is largely driven by education and race, suggesting that lower financial sophistication leads to less financial risk-taking by the obese.

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Date posted: November 21, 2009 ; Last revised: June 26, 2014

Suggested Citation

Addoum, Jawad M. and Korniotis, George M. and Kumar, Alok, Stature, Obesity, and Portfolio Choice (June 25, 2014). Available at SSRN: http://ssrn.com/abstract=1509173 or http://dx.doi.org/10.2139/ssrn.1509173

Contact Information

Jawad M. Addoum
University of Miami - School of Business Administration ( email )
P.O. Box 248126
Florida
Coral Gables, FL 33124
United States
George M. Korniotis
University of Miami ( email )
P.O. Box 248094
Coral Gables, FL 33124-6552
United States
305-284-5728 (Phone)
Alok Kumar (Contact Author)
University of Miami - School of Business Administration ( email )
514 Jenkins Building
Department of Finance
Coral Gables, FL 33124-6552
United States
305-284-1882 (Phone)
HOME PAGE: http://moya.bus.miami.edu/~akumar
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