| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP10694 |
| DP10694 On the Origins of Risk-Taking | |
| Sandra Black; Paul J. Devereux; Kaveh Majlesi; Petter Lundborg | |
| 发表日期 | 2015-07-12 |
| 出版年 | 2015 |
| 语种 | 英语 |
| 摘要 | Risk-taking behavior is highly correlated between parents and their children; however, little is known about the extent to which these relationships are genetic or determined by environmental factors. We use data on stock market participation of Swedish adoptees and relate this to the investment behavior of both their biological and adoptive parents. We find that stock market participation of parents increases that of children by about 34% and that both pre-birth and post-birth factors are important. However, once we condition on having positive financial wealth, we find that nurture has a much stronger influence on risk-taking by children, and the evidence of a relationship between stock-holding of biological parents and their adoptive children becomes very weak. We find similar results when we study the share of financial wealth that is invested in stocks. This suggests that a substantial proportion of risk-attitudes and behavior is environmentally determined. |
| 主题 | Financial Economics ; Labour Economics |
| 关键词 | Nature versus nurture Portfolio choice Risk-taking |
| URL | https://cepr.org/publications/dp10694 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/539525 |
| 推荐引用方式 GB/T 7714 | Sandra Black,Paul J. Devereux,Kaveh Majlesi,et al. DP10694 On the Origins of Risk-Taking. 2015. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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