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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 • 2:30pm - 3:20pm
E1a Do Investors' Subjective Risk Perceptions Influence Their Portfolio Choice? A Household Bargaining Perspective [CFP Asset Allocation]

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Using the 2012 wave of the Health and Retirement Study, this paper finds that individual investors view the stock market to be much riskier than it actually is according to objective measures. This paper also finds that the subjective risk perception of the household member with more bargaining power has a significant negative effect on the allocation of the household portfolio to risky assets and that the subjective risk perception of the household member with less bargaining power has no significant effect on the allocation of household portfolio to risky assets, controlling for demographic and other factors.

Author(s): Xianwu Zhang, Charlene Kalenkoski, Ph.D.

Presenters
avatar for Xianwu (Sean) Zhang

Xianwu (Sean) Zhang

Research Assistant, Texas Tech University
I am a Ph.D. student in PFP in Texas Tech University. I have a master in finance and statistics. I pass CFA II in June 2016. My research topics are factor investing, mutual fund, SMA and retirement.


Sunday October 1, 2017 2:30pm - 3:20pm
Mockingbird 1

Attendees (5)