Early health, risk aversion and stock market participation
Abstract To examine the relationship between early health status and financial decisions in adulthood, we link information on birth weight in 1966 from the Northern Finland Birth Cohort to data from the Finnish Central Securities Depository over the period of 1995–2010. We find that persons predispo...
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ftunivoulu:oai:oulu.fi:nbnfi-fe2022020113899 2023-07-30T04:05:49+02:00 Early health, risk aversion and stock market participation Böckerman, P. (Petri) Conlin, A. (Andrew) Svento, R. (Rauli) 2021 application/pdf http://urn.fi/urn:nbn:fi-fe2022020113899 eng eng Elsevier info:eu-repo/semantics/altIdentifier/doi/10.1016/j.jbef.2021.100568 info:eu-repo/semantics/openAccess © 2021 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/). https://creativecommons.org/licenses/by/4.0/ Birth weight Health status Risk aversion Stock market participation info:eu-repo/semantics/article info:eu-repo/semantics/publishedVersion 2021 ftunivoulu https://doi.org/10.1016/j.jbef.2021.100568 2023-07-08T19:58:49Z Abstract To examine the relationship between early health status and financial decisions in adulthood, we link information on birth weight in 1966 from the Northern Finland Birth Cohort to data from the Finnish Central Securities Depository over the period of 1995–2010. We find that persons predisposed to poor health status in early childhood (indicated by low birth weight) avoid participating in the stock market in adulthood, with a 10% increase in birth weight associated with a 1.9% increase in probability of participation. The link between birth weight and stock market participation is partially channeled by poor early health status being associated with higher risk aversion. Early health status is not significantly related to risk taking in terms of the stock portfolio’s composition. Article in Journal/Newspaper Northern Finland Jultika - University of Oulu repository Journal of Behavioral and Experimental Finance 32 100568 |
institution |
Open Polar |
collection |
Jultika - University of Oulu repository |
op_collection_id |
ftunivoulu |
language |
English |
topic |
Birth weight Health status Risk aversion Stock market participation |
spellingShingle |
Birth weight Health status Risk aversion Stock market participation Böckerman, P. (Petri) Conlin, A. (Andrew) Svento, R. (Rauli) Early health, risk aversion and stock market participation |
topic_facet |
Birth weight Health status Risk aversion Stock market participation |
description |
Abstract To examine the relationship between early health status and financial decisions in adulthood, we link information on birth weight in 1966 from the Northern Finland Birth Cohort to data from the Finnish Central Securities Depository over the period of 1995–2010. We find that persons predisposed to poor health status in early childhood (indicated by low birth weight) avoid participating in the stock market in adulthood, with a 10% increase in birth weight associated with a 1.9% increase in probability of participation. The link between birth weight and stock market participation is partially channeled by poor early health status being associated with higher risk aversion. Early health status is not significantly related to risk taking in terms of the stock portfolio’s composition. |
format |
Article in Journal/Newspaper |
author |
Böckerman, P. (Petri) Conlin, A. (Andrew) Svento, R. (Rauli) |
author_facet |
Böckerman, P. (Petri) Conlin, A. (Andrew) Svento, R. (Rauli) |
author_sort |
Böckerman, P. (Petri) |
title |
Early health, risk aversion and stock market participation |
title_short |
Early health, risk aversion and stock market participation |
title_full |
Early health, risk aversion and stock market participation |
title_fullStr |
Early health, risk aversion and stock market participation |
title_full_unstemmed |
Early health, risk aversion and stock market participation |
title_sort |
early health, risk aversion and stock market participation |
publisher |
Elsevier |
publishDate |
2021 |
url |
http://urn.fi/urn:nbn:fi-fe2022020113899 |
genre |
Northern Finland |
genre_facet |
Northern Finland |
op_relation |
info:eu-repo/semantics/altIdentifier/doi/10.1016/j.jbef.2021.100568 |
op_rights |
info:eu-repo/semantics/openAccess © 2021 The Author(s). Published by Elsevier B.V. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/). https://creativecommons.org/licenses/by/4.0/ |
op_doi |
https://doi.org/10.1016/j.jbef.2021.100568 |
container_title |
Journal of Behavioral and Experimental Finance |
container_volume |
32 |
container_start_page |
100568 |
_version_ |
1772817997704986624 |