|Title:||Women are scaredy-cats and men are conquerors?|
|Authors :||Hari, Jürg|
|Published in :||Journal of Financial Services Marketing|
|Publisher / Ed. Institution :||Springer|
|License (according to publishing contract) :||Licence according to publishing contract|
|Type of review:||Peer review (Publication)|
|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.|
|Departement:||School of Management and Law|
|Publication type:||Article in scientific Journal|
|Appears in Collections:||Publikationen School of Management and Law|
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