This study examines how experiencing a pandemic affects household investment behaviors. By leveraging cross-state variations in the H1N1 mortality rate in 2009, our difference-in-differences analysis reveals interesting findings. Although the pandemic does not significantly affect stock market...

We examine Swiss retail investors' willingness to pay (WTP) for sustainable finance products and the influence of bank advisor certification. In a hypothetical choice experiment with a randomized controlled trial (RCT), we assigned participants to either a priming treatment with a bank advisor...

This paper reexamines the question of gender differences in financial relative risk aversion using updated methods and data. Specifically, the paper revisits the 1998 work "Are women more risk averse?" by Jianakoplos and Bernasek, suggests refinements in their model in relation to the database...

Asset accumulation in later life is a pressing issue in Japan due to the growing gap between life expectancy (87.14 years for women, 81.09 years for men in 2023) and the retirement age (65 or less). This gap heightens financial insecurity, emphasizing the need to meet asset goals by 65....

The low-risk anomaly challenges traditional financial theory by stating that less volatile stocks generate higher risk-adjusted returns. This paper explores how various portfolio construction choices influence the performance of low-risk portfolios. We show that methodological decisions...

This study investigates whether cryptocurrency investments have a distinct impact on corporate liquidity depending on when they are held and the stage of a firm's life cycle at the time of holding, using a sample of Korean companies. The empirical findings first show that cryptocurrency...

Much research has examined the drivers of firms' R&D investments. However, many questions remain with respect to the role of R&D as a learning target and as a means of achieving legitimacy, particularly in the context of imitative R&D strategy. We develop a theory that integrates different...

Investors appear to regularly fail to make adequate investment decisions in the context of financial provision because of both economic and psychological irrationality. However, despite an economic urgency to make appropriate investment decisions for a secure financial future, people tend to...

Does the presence of a partner affect individuals' propensity to participate in the stock market? In this paper, we estimate the effect of cohabiting with a partner on stock market participation using rich administrative data from Denmark. It is a well-known puzzle that few people participate in...

The debate surrounding the financial performance of Shariah compliance (SC) and socially-responsible (SR) investments versus traditional ones remains controversial. This study pioneers an examination of this issue within Indonesia, a country where SC Investments (SCIs) and SR Investments (SRIs)...

This study explores long-term investment strategies for individuals in European countries who have limited initial capital and may have no expertise in financial economics. We compare three strategies-Cost Average Plan (CAP), Bank Deposits Plan (BDP), and Buy and Hold (BnH)-by analyzing their...

We document novel facts on the exit and reentry margins of stock market participation by retail investors using detailed administrative data on every Norwegian resident from 1993 to 2016. Contrary to the conventional view that individuals either never or always participate in the stock market,...

This factsheet provides an overview of the European Universities alliance, including on its partners, focus areas, vision and activities undertaken. It relates to the pioneering new learning opportunities across borders developed by the alliance, the innovative European inter-university campus...

This factsheet provides an overview of the European Universities alliance, including on its partners, focus areas, vision and activities undertaken. It relates to the pioneering new learning opportunities across borders developed by the alliance, the innovative European inter-university campus...

We conduct an incentivized experiment with a nationally representative sample to investigate gender discrimination among people receiving advice on risky investments. Participants learn about actual start-up firms they can invest in. Before deciding how much of their endowment to invest, they...

Using data on Chinese listed companies for 2008-2018, we find that firms participating in overseas operations, proxied by overseas subsidiaries, generally have higher financial asset allocations than other firms. At the micro level, the effects are more pronounced when the parent company faces...

This study investigates the impact of social pension insurance on the efficiency of household financial portfolios, utilizing data from the 2019 wave of the China Household Finance Survey. Our findings indicate that social pension insurance significantly enhances the efficiency of household...

The group of companies formed by Meta, Apple, Microsoft, Amazon and Alphabet have become a successful investment alternative in the U.S. stock market. In this context, the aim of this research is to provide investment strategies based on these companies to the challenge of how individual...