Stature, obesity, and portfolio choice

Jawad M. Addoum, George Korniotis, Alok Kumar

Research output: Contribution to journalArticlepeer-review

11 Scopus citations


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 languageEnglish (US)
Pages (from-to)3393-3413
Number of pages21
JournalManagement science
Issue number10
StatePublished - Oct 2017


  • Behavioral finance
  • Household finance
  • Portfolio choice
  • Social experiences

ASJC Scopus subject areas

  • Strategy and Management
  • Management Science and Operations Research


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