Gender Based Risk Aversion and Retirement Asset Allocation

Posted: 6 Jun 2008

See all articles by Kathleen Arano

Kathleen Arano

Fort Hays State University

Carl Parker

Fort Hays State University

Rory L. Terry

Fort Hays State University

Multiple version iconThere are 2 versions of this paper

Abstract

This research examines whether women have higher risk aversion than men as demonstrated by their retirement asset allocation. The analysis is extended to investigate how retirement asset investment decisions are made in married households. Initial results suggest controlling for demographic, income and wealth differences lead to no significant difference in the proportion of retirement assets held in stocks between women and male faculty. For married households with joint investment decision making, results indicate that gender differences are a significant factor in explaining individual retirement asset allocation. Our estimates imply that women faculty are more risk averse than their male spouse.

JEL Classification: J16, G11, D10

Suggested Citation

Arano, Kathleen and Parker, Carl and Terry, Rory L., Gender Based Risk Aversion and Retirement Asset Allocation. Accepted, Economic Inquiry, Available at SSRN: https://ssrn.com/abstract=1141541

Kathleen Arano (Contact Author)

Fort Hays State University ( email )

Hays, KS 67601
United States
785-628-4107 (Phone)

Carl Parker

Fort Hays State University ( email )

Hays, KS 67601
United States

Rory L. Terry

Fort Hays State University ( email )

Hays, KS 67601
United States

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