Does knowledge of finance mitigate the gender difference in financial risk-aversion? Article

cited authors

  • Hibbert, AM; Lawrence, ER; Prakash, AJ

fiu authors

abstract

  • We investigate the gender difference in financial risk aversion using a survey of finance professors from universities across the United States. We compare their actual portfolio allocations to that of respondents in the Federal Reserve's Survey of Consumer Finances (SCF). We find that among highly educated individuals, women are significantly more risk averse than men. However, we find that when men and women have both attained a high level of financial education, they are equally likely to invest a significant portion of their portfolio in risky assets, suggesting that financial education mitigates the gender difference in financial risk aversion. © 2013 Elsevier Inc.

publication date

  • August 30, 2013

Digital Object Identifier (DOI)

start page

  • 140

end page

  • 152

volume

  • 24

issue

  • 2