Abstract
Using multiple U.S. and European data sources, we show that observed physical attributes are related to participation in financial markets. Specifically, we find that individuals who are relatively tall and of normal weight are more likely to hold stocks in their financial portfolios. We consider several potential mechanisms that could drive the relation between physical attributes and portfolio decisions. We find that teenage social experiences as well as genetic and prenatal endowments that are fixed at birth are the two channels through which height a ects financial decisions. Furthermore, we find that the relation between body mass index and portfolio decisions is largely driven by education and race.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 3393-3413 |
| Number of pages | 21 |
| Journal | Management Science |
| Volume | 63 |
| Issue number | 10 |
| DOIs | |
| State | Published - Oct 1 2017 |
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Keywords
- Behavioral finance
- Household finance
- Portfolio choice
- Social experiences
ASJC Scopus subject areas
- Strategy and Management
- Management Science and Operations Research
Cite this
Stature, obesity, and portfolio choice. / Addoum, Jawad M.; Korniotis, George; Kumar, Alok.
In: Management Science, Vol. 63, No. 10, 01.10.2017, p. 3393-3413.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Stature, obesity, and portfolio choice
AU - Addoum, Jawad M.
AU - Korniotis, George
AU - Kumar, Alok
PY - 2017/10/1
Y1 - 2017/10/1
N2 - Using multiple U.S. and European data sources, we show that observed physical attributes are related to participation in financial markets. Specifically, we find that individuals who are relatively tall and of normal weight are more likely to hold stocks in their financial portfolios. We consider several potential mechanisms that could drive the relation between physical attributes and portfolio decisions. We find that teenage social experiences as well as genetic and prenatal endowments that are fixed at birth are the two channels through which height a ects financial decisions. Furthermore, we find that the relation between body mass index and portfolio decisions is largely driven by education and race.
AB - Using multiple U.S. and European data sources, we show that observed physical attributes are related to participation in financial markets. Specifically, we find that individuals who are relatively tall and of normal weight are more likely to hold stocks in their financial portfolios. We consider several potential mechanisms that could drive the relation between physical attributes and portfolio decisions. We find that teenage social experiences as well as genetic and prenatal endowments that are fixed at birth are the two channels through which height a ects financial decisions. Furthermore, we find that the relation between body mass index and portfolio decisions is largely driven by education and race.
KW - Behavioral finance
KW - Household finance
KW - Portfolio choice
KW - Social experiences
UR - http://www.scopus.com/inward/record.url?scp=85031324852&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85031324852&partnerID=8YFLogxK
U2 - 10.1287/mnsc.2016.2508
DO - 10.1287/mnsc.2016.2508
M3 - Article
VL - 63
SP - 3393
EP - 3413
JO - Management Science
JF - Management Science
SN - 0025-1909
IS - 10
ER -