Publication type: Article in scientific journal
Type of review: Peer review (publication)
Title: Women are scaredy-cats and men are conquerors?
Authors: Hari, Jürg
Pirsch, Elisabeth
Rawitzer, Heike
DOI: 10.1057/s41264-018-0045-x
Published in: Journal of Financial Services Marketing
Volume(Issue): 23
Issue: 2
Pages: 128
Pages to: 139
Issue Date: 2018
Publisher / Ed. Institution: Stewart Publishing
ISSN: 1479-1846
Language: English
Subjects: Financial industry; Risk attitudes
Subject (DDC): 332: Financial economics
Abstract: The European legal framework requires that financial consultants assess their clients’ risk tolerance before advising them on investments. The study aims at further testing an alternative measure to quantify the risk attitudes of investors: The Implicit Association Test (IAT). This study examines differences in implicit, unconscious, and explicit cognitive attitudes of men and women. The results of the IAT are compared with their answers from a risk tolerance questionnaire used by practitioners and self-selected asset allocation (portfolio). The data show that implicit attitude, and, thus, unconscious and uncontrolled thinking, can differ from conscious processes. Furthermore, in this study, there is no gender gap in risk attitude and risk tolerance. The findings suggest that experience and financial knowledge are likely the most important determinants of risk attitudes with no significant difference between men and women.
Fulltext version: Published version
License (according to publishing contract): Licence according to publishing contract
Departement: School of Management and Law
Appears in Collections:Publikationen School of Management and Law

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