Download This Paper Open PDF in Browser
Add Paper to My Library
Permalink
Using the URL or DOI link below will ensure access to this page indefinitely
Copy URL
Copy URL

Emotional Assets

35 Pages Posted: 5 Mar 2008 Last revised: 27 Oct 2012

See all articles by Frans de Roon

Frans de Roon

Tilburg University - Department of Finance

Kees C. G. Koedijk

Tilburg University - Department of Finance

Rachel A.J. Pownall

Tilburg University - Department of Finance; Maastricht University - Department of Finance

Abstract

Globally the number of high net worth individuals (HNWI) is increasing and their interest in investing into the luxury goods sector is increasing at a similar rate. In this paper we use a broad range of indices on a number of emotional assets, such as art, wine, stamps watches, and atlases, which make up more than 50% of HNWI's investment into the luxury good sector. Using the spanning techniques from de Roon et al. (2008) we analyze how the emotional assets add to the risk-return profile of both private and institutional investors. We find highly significant results for wine and books as a significant allocation into the emotional asset sector. Our findings substantiate the current allocation of HNWI in the luxury goods sector

Keywords: Philanthropy, Asset allocation, art, wine, luxary goods markets

JEL Classification: G11, Z10

Suggested Citation

de Roon, Frans A. and Koedijk, Kees G. and Pownall, Rachel Ann Jane, Emotional Assets. Available at SSRN: https://ssrn.com/abstract=1102652 or http://dx.doi.org/10.2139/ssrn.1102652

Frans A. De Roon (Contact Author)

Tilburg University - Department of Finance ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands
+31 1 3466 8361/3025 (Phone)
+31 1 3466 2875 (Fax)

Kees G. Koedijk

Tilburg University - Department of Finance ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands
+31 13 4663048 (Phone)
+31 13 4662052 (Fax)

Rachel Ann Jane Pownall

Tilburg University - Department of Finance ( email )

P.O. Box 90153
Tilburg, 5000 LE
Netherlands

Maastricht University - Department of Finance ( email )

Maastricht, 6200 MD
Netherlands

Download This Paper Open PDF in Browser

Register to save articles to
your library

Register

Paper statistics

Downloads
195
rank
100,067
Abstract Views
2,528
PlumX Metrics
!

Under construction: SSRN citations will be offline until July when we will launch a brand new and improved citations service, check here for more details.

For more information