Gender Differences In The Investment Decision-Making Process
Lori L. Embrey
affiliation not provided to SSRN
Jonathan J. Fox
Ohio State University (OSU) - Department of Human Sciences
Financial Counseling and Planning, Volume 8, Issue 2
Previous studies have suggested that women are more risk averse than men, leading women to choose more conservative investments. This study used a sample of one person households from the 1995 Survey of Consumer Finances to explore gender differences in the investment decision-making process. The determinants of some investment decisions were found to differ by gender, but gender did not appear to be a critical determinant of investment choice. Women were more likely to hold risky assets if expecting an inheritance, employed and holding higher net worth; while men invested in risky assets if they were risk seekers, divorced, older, and college educated.
JEL Classification: D18, D81, G11Accepted Paper Series
Date posted: June 15, 1998
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