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dc.contributor.authorBarasinska, Nataliyaen_US
dc.date.accessioned2012-02-03en_US
dc.date.accessioned2012-02-15T15:02:53Z-
dc.date.available2012-02-15T15:02:53Z-
dc.date.issued2011en_US
dc.identifier.urihttp://hdl.handle.net/10419/55305-
dc.description.abstractThis study investigates the role of gender in financial risk-taking. Specifically, I ask whether female investors tend to fund less risky investment projects than males. To answer this question, I use real-life investment data collected at the largest German market for peer-to-peer lending. Investors' utility is assumed to be a function of the projects expected return and its standard deviation, whereas standard deviation serves as a measure of risk. Gender differences regarding the responses to projects' risk are tested by estimating a random parameter regression model that allows for variation of risk preferences across investors. Estimation results provide no evidence of gender differences in investors' risk propensity: On average, male and female investors respond similarly to the changes in the standard deviation of expected return. Moreover, no differences between male and female investors are found with respect to other characteristics of projects that may serve as a proxy for projects' risk. Significant gender differences in investors' tastes are found only with respect to preferred investment duration, purpose of investment project and borrowers' age.en_US
dc.language.isoengen_US
dc.publisherDeutsches Institut für Wirtschaftsforschung (DIW) Berlinen_US
dc.relation.ispartofseriesDiscussion papers // German Institute for Economic Research 1125en_US
dc.subject.jelG11en_US
dc.subject.jelG21en_US
dc.subject.jelJ16en_US
dc.subject.ddc330en_US
dc.subject.keywordgenderen_US
dc.subject.keywordinvestment choiceen_US
dc.subject.keywordrisk preferencesen_US
dc.subject.stwAnlageverhaltenen_US
dc.subject.stwGeschlechten_US
dc.subject.stwRisikopräferenzen_US
dc.subject.stwSchätzungen_US
dc.subject.stwDirektbanken_US
dc.subject.stwKreditgeschäften_US
dc.subject.stwElectronic Bankingen_US
dc.subject.stwInternet-Portalen_US
dc.subject.stwDeutschlanden_US
dc.titleDoes gender affect investors' appetite for risk? Evidence from peer-to-peer lendingen_US
dc.typeWorking Paperen_US
dc.identifier.ppn684716151en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Publikationen von Forscherinnen und Forschern des DIW
DIW-Diskussionspapiere

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