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  • 1.
    Gyllenram, André
    et al.
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
    Hanes, Niklas
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
    Hellström, Jörgen
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE).
    The influence of non-cognitive and cognitive ability on individuals' stock market participation2013Report (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.

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  • 2.
    Gyllenram, André
    et al.
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
    Hellström, Jörgen
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE).
    Hanes, Niklas
    Umeå University, Faculty of Social Sciences, Umeå School of Business and Economics (USBE), Economics.
    Förmåga att hantera stress och individers beslut att äga aktier2015In: Ekonomisk Debatt, ISSN 0345-2646, Vol. 43, no 1, p. 7-15Article in journal (Other academic)
    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.

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    fulltext
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CiteExportLink to result list
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  • apa
  • ieee
  • modern-language-association-8th-edition
  • vancouver
  • Other style
More styles
Language
  • de-DE
  • en-GB
  • en-US
  • fi-FI
  • nn-NO
  • nn-NB
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  • Other locale
More languages
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