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Welcome to the 2017 AFS Annual Meeing, being held this year, in conjunction with FPA in Nashville!
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Sunday, October 1 • 10:30am - 11:20am
C1b Racial/Ethnic Disparities in High Return Investment Ownership: A Heckman Selection Model [CFP Estate Planning]

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This study investigates racial/ethnic differences in high return investment ownership. Since households without adequate financial assets might not be able to meaningfully make investment choices, a Heckman two-stage selection model was used to separate minimum asset level status from the allocation decision. Conditional on having financial assets greater than 3 months of household income, White households were more likely to invest in high return investments than minority (Black, Hispanic and Asian/other) households. Government policies or strategies that could possibly nudge households to invest some wealth in high return investment assets would benefit U.S. households, especially minority households.

Author(s): Guangyi Wang, Sherman D. Hanna

avatar for Guangyi Wang

Guangyi Wang

Research Assistant, Ohio State University

Sunday October 1, 2017 10:30am - 11:20am
Mockingbird 1

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