Portfolio Performance Across Genders and Generations: The Role of Financial Innovation

31 Pages Posted: 25 Jan 2017 Last revised: 2 Feb 2017

See all articles by Denis Davydov

Denis Davydov

University of Vaasa - Department of Accounting and Finance

Otto Florestedt

Stockholm University - Stockholm Business School

Jarkko Peltomäki

Stockholm University - Stockholm Business School

Marcus Schön

Stockholm University - Stockholm Business School

Date Written: December 12, 2016

Abstract

Using a unique dataset on the trading transaction records of private investors from Sweden, we explore the role of gender and age in the use of Exchange Traded Products (ETPs), considered to be innovative investment products, with respect to implications for portfolio performance. We show evidence that investors perform better when trading and investing in mutual funds, but younger investors may be relatively more skillful users of ETPs. We also find that older men and women trade more actively, although they also show a better investment performance, and we emphasize that age and gender are very different demographic determinants of investor behavior and performance.

Keywords: financial innovation, Exchange Traded Product, age, gender

Suggested Citation

Davydov, Denis and Florestedt, Otto and Peltomäki, Jarkko and Schön, Marcus, Portfolio Performance Across Genders and Generations: The Role of Financial Innovation (December 12, 2016). International Review of Financial Analysis, Vol. Forthcoming. Available at SSRN: https://ssrn.com/abstract=2904686 or http://dx.doi.org/10.2139/ssrn.2904686

Denis Davydov (Contact Author)

University of Vaasa - Department of Accounting and Finance ( email )

P.O. Box 700
FIN-65101 Vaasa, FI-65101
Finland
+358 6 3248 268 (Phone)

Otto Florestedt

Stockholm University - Stockholm Business School ( email )

Sweden

Jarkko Peltomäki

Stockholm University - Stockholm Business School ( email )

Stockholm
Sweden

Marcus Schön

Stockholm University - Stockholm Business School ( email )

Sweden

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