Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/142167
Authors: 
Barasinska, Nataliya
Schäfer, Dorothea
Stephan, Andreas
Year of Publication: 
2012
Citation: 
[Journal:] Quarterly Review of Economics and Finance [ISSN:] 1062-9769 [Volume:] 52 [Issue:] 1 [Pages:] 1-14
Abstract: 
This paper explores the relationship between the self-declared risk aversion of private investors and their propensity to hold incomplete portfolios of financial assets. The analysis is based on household survey data from the German Socioeconomic Panel (SOEP) that provides a reliable measure of individual attitudes toward financial risk. Our findings suggest that more risk averse households tend to hold incomplete portfolios consisting mainly of a few risk-free assets. We also find that the propensity to acquire additional assets is highly dependent on whether liquidity and safety needs are met.
Subjects: 
private households
portfolio diversification
risk aversion
Sparen
Panel
Geldanlagen
Deutschland
JEL: 
D14
G11
Persistent Identifier of the first edition: 
Additional Information: 
This is the postprint of an article published in the Quarterly Review of Economics and Finance 52 (2012), 1, p. 1-14, available online at: http://dx.doi.org/10.1016/j.qref.2011.10.001
Creative Commons License: 
http://creativecommons.org/licenses/by-nc-nd/4.0/
Document Type: 
Article

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.