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Gyllenram, André
Publications (2 of 2) Show all publications
Gyllenram, A., Hellström, J. & Hanes, N. (2015). Förmåga att hantera stress och individers beslut att äga aktier. Ekonomisk Debatt, 43(1), 7-15
Open this publication in new window or tab >>Förmåga att hantera stress och individers beslut att äga aktier
2015 (Swedish)In: Ekonomisk Debatt, ISSN 0345-2646, Vol. 43, no 1, p. 7-15Article in journal (Other academic) Published
Abstract [sv]

Nyare finansiell forskning har påvisat att individers kognitiva förmåga (IQ) påverkar finansiella beslut. Att äga aktier korrelerar t ex starkt med IQ. Men även bland ”smarta” individer är det många som inte äger aktier. Detta är förbryllande, då avkastningen på aktiemarknaden historiskt har slagit andra investeringsalternativ, och det indikerar att det kanske inte räcker med att vara ”smart” för att göra smarta val. En möjlig förklaring till detta, som vi finner empiriskt stöd för, är att även andra personliga egenskaper, som exempelvis stresstålighet, kan påverka finansiella beslut.

Keywords
Finansiell ekonomi, aktieägande, stresstålighet
National Category
Economics Business Administration
Research subject
Business Studies; Economics
Identifiers
urn:nbn:se:umu:diva-112117 (URN)
Funder
The Jan Wallander and Tom Hedelius Foundation, P2011-0226:1
Note

Artiklar från Nationella konferensen i nationalekonomi 2014

Available from: 2015-12-02 Created: 2015-12-02 Last updated: 2018-06-07Bibliographically approved
Gyllenram, A., Hanes, N. & Hellström, J. (2013). The influence of non-cognitive and cognitive ability on individuals' stock market participation. Umeå
Open this publication in new window or tab >>The influence of non-cognitive and cognitive ability on individuals' stock market participation
2013 (English)Report (Other academic)
Abstract [en]

Stock market participation is found to be positively related to cognitive, as well as non-cognitive ability, controlling for wealth, income, age, and other demographic and socioeconomic factors. Interestingly, the effects are of economic significant magnitudes, e.g. participation is on average 11.49% larger among those with high compared with low cognitive and non-cognitive abilities, and holds also when controlling for individuals risk preferences. The later indicates that cognitive and non-cognitive abilities have a role in affecting financial decisions also through non-preference driven effects. Limitations in non-cognitive ability do further explain non-participation among affluent individuals.

Place, publisher, year, edition, pages
Umeå: , 2013. p. 43
Series
Umeå economic studies, ISSN 0348-1018 ; 866
Keywords
household finance, investor behavior, stock market participation, psychological traits, intelligence, risk preferences
National Category
Economics Business Administration
Research subject
Business Studies; Economics
Identifiers
urn:nbn:se:umu:diva-81748 (URN)
Available from: 2013-10-21 Created: 2013-10-21 Last updated: 2018-06-08Bibliographically approved
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