Buradasınız

Anasayfa » Content

Gender Differences in Investment Preferences

Journal Name:

  • European Journal of Economic and Political Studies

Publication Year:

  • 2013

Key Words:

Author NameUniversity of Author
Abstract (2. Language): 
The paper attempts to explore how women and men differ in their individual investment preferences. Although there are some studies for the investors in developed countries, the subject has been overlooked in emerging and underdeveloped countries. Therefore, this study is the first empirical study exploring the investment behaviors of women and men by focusing on an emerging country, Turkey. For the purpose to find out how investment preferences of men and women differ towards six investment tools, namely, gold, foreign currency, funds, common stocks, real estates, and time deposits, a discriminant analysis and a logistic regression were exercised. The results revealed that while men investors prefer common stocks and real estate to invest women investors are more risk averse and invest fund, time deposit and gold. There is no significant difference between men and women in foreign currency investment.
Bookmark/Search this post with
FULL TEXT (PDF): 
PDF icon arastirmax-gender-differences-investment-preferences.pdf
  • 1
71
83
  • English

REFERENCES

References: 

Atkinson, S.M., S.B. Baird, and M. B. Frye. 2003. “Do female mutual fund managers
manage differently?” Journal of Financial Research, 26 (1): 1-18.
Bajtelsmit, V.L. and A. Bernasek. 2001. “Risk preferences and the investment
decsions of older Americans”. AARP, Accessed July 8, 2011. Public Policy Institute.
http://assets.aarp.org/rgcenter/econ/2001_11_risk.pdf
Barber, B.M. and T. Odean. 2001. “Boys will be boys: Gender, overconfidence,
and common stock investment.” The Quarterly Journal of Economics, 116(1): 261-
292.
Becker-Blease, R.J. and J.E. Sohl. 2011. “The effect of gender diversity on angel
group investment.” Entrepreneurship Theory and Practice, 35(4): 709-733.
Berument, H. and A. Kutan. 2007. “The stock market channel of monetary policy
in emerging markets: evidence from the Istanbul Stock Exchange.” Scientific Journal
Nizamettin Bayyurt, Vildan Karışık, Ali Coşkun
82
of Administration Development 5: 117-144.
Bozkuş, S. and Ş. Üçdoğruk. 2007. “Household Investment Choices: Turkey Example”,
8. Turkey Econometrics and Statistics Congress, Inonu University, Malatya,
Turkey.
Charness, G.B. and U. Gneezy. 2007. “Strong evidence for gender differences
in investment.” Department of Economics, University of California at Santa Barbara,
Economics Working Paper Series: 24-07.
Coleman, S. 2003. “Women and risk: An analysis of attitudes and investment
behavior.” Ed.: Janet L. Dye ve Denise Woodbury, Academy of Accounting and Financial
Studies Journal, 7(2): 99-115.
Eckel, C.C. and P.J. Grossman. 2008. “Men, women and risk aversion: Experimental
evidence.” Handbook of Experimental Economics Results 1: 1061-1073.
Embrey, L.L. and J.J. Fox. 1997. “Gender differences in the investment decision-
making process.” Financial Counseling and Planning, 8(2): 33-40.
Estes, R. and J. Hosseini. 1988. “The gender gap on Wall Street: an empirical
analysis of confidence in investment decision making.” The Journal of Psychology,
122(6): 577-590.
Friend, I. and M.E. Blume. 1975. “The demand for risky assets.” The American
Economic Review, 65(5): 900-922.
Hinz, R.P., D.D. McCarthy and J.A. Turner 1997. “Are Women Conservative
Investors? Gender Differences in Participant Directed Pension Investments” in M.S.
Gordon, O.S. Mitchell and M.M. Twinney (eds) 1997 Positioning Pensions for the
Twenty-First Century, University of Pennsylvania Press: 91-105
Jianakoplos, N.A. and A. Bernasek. 1998. “Are women more risk averse?” Economic
Inquiry 36(4): 620-630.
Kutan, A. and T. Aksoy. 2004.”Public information arrival and gold market returns
in emerging markets: Evidence from the Istanbul Gold Exchange.” Scientific Journal
of Administrative Development 2: 13-26.
Niessen, A. and S. Ruenzi. 2006. “Sex matters: gender and mutual funds.” CFA
Working Paper No: 06-01, University of Cologne.
Olsen, R.A. and C.M. Cox. 2001. “The influence of gender on the perception
and response to investment risk: The case of professional investors.” The Journal of
Psychology and Financial Markets, 2(1): 29-36.
Schlarbaum, G.G., W.G. Lewellen and R.C. Lease. 1978. “Realized returns on
common stock investments: The experience of individual investors.” Journal of Business
51(2): 299-325.
Schooley, D.K. and D.D. Worden. 1996. “Risk aversion measures: Comparing
attitudes and asset allocation.” Financial Services Review, 5(2): 87-99.
European Journal of Economic and Political Studies
83
Spigner, C., W.E. Hawkins and W. Loren. 1993.”Gender differences in perception
of risk associated with alcohol and drug use among college students.” Women &
Health, 20(1): 87-97.
Starr, T., J.M. Cioffi and P.J. Silverman. 1999. “Understanding digital subscriber
line technology”. Prentice Hall.
Tunali, H and F. Tatoglu 2010. “The Analysis of Factors Affecting Investment
Choices of Households in Turkey with Multinomial Logit Model”, International Research
Journal of Finance and Economics, 40: 186-202.
TUIK. 2011. “Household Labor Force Research 2011 March Results (February,
March, April 2011)”. Accessed July 8, 2011. http://www.tuik.gov.tr/PreTablo.do?tb_
id=25&ust_id=8.
Zinkhan, G.M., and W. K. Kiran 1991. “Cultural and gender differences in risk-taking
behavior among American and Spanish decision makers.” The Journal of Social
Psychology, 131 (5): 741-742.

Thank you for copying data from http://www.arastirmax.com