16 Pages Posted: 25 Jan 2013 Last revised: 15 Dec 2015
Date Written: December 14, 2015
We study the relationship between some 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 a 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: Suggested Citation
Fajardo, José and Blanco, Sandra, Social Interaction and Psychological Influence on Women's Financial Investments (December 14, 2015). Available at SSRN: https://ssrn.com/abstract=2206440 or http://dx.doi.org/10.2139/ssrn.2206440
By Scott Yonker