Social Interaction and Psychological Influence on Women's Financial Investments

21 Pages Posted: 25 Jan 2013 Last revised: 8 Dec 2017

José Fajardo

Getulio Vargas Foundation

Sandra Blanco

ÓRAMA Investments

Date Written: February 17, 2017

Abstract

We study the effects of social interaction and depression factors on women's financial decisions. Using data from a new sample survey with a size of 3,901 women, we find that the probability of a woman invest in stocks is reduced by 0.8%, if she has felt depressed recently, and increased by 1.1%, if she visits frequently her family or friends. Moreover, when the investment opportunity is savings account, depression symptoms reduce investment probability by 4% and if she visits family or friends the probability is increased by 11%. Also, if she practices any sport or frequent any health club the investment probability is increased by 7.9% and 6.6%, respectively. In the case of other investments, the investment probability is increased by 2%, 2.7% and 3% if she attends any religious services, any health club or belongs to any association, respectively.

Keywords: Wellness, Depression, Social Interaction, Investments

JEL Classification: C52, G10

Suggested Citation

Fajardo, José and Blanco, Sandra, Social Interaction and Psychological Influence on Women's Financial Investments (February 17, 2017). Available at SSRN: https://ssrn.com/abstract=2206440 or http://dx.doi.org/10.2139/ssrn.2206440

José Fajardo (Contact Author)

Getulio Vargas Foundation ( email )

Brazil
55213799 5781 (Phone)

HOME PAGE: http://www.josefajardo.com

Sandra Blanco

ÓRAMA Investments ( email )

Brazil

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