Embrey, L. C. &
Fox, J. J. (1997). Gender differences in the investment decision-making
process. Financial Counseling and Planning, 8(2), 33-40.
Gender Differences In The Investment Decision-Making
Previous studies have suggested that women are more
risk averse than men, leading women to choose more conservative investments.
This study used a sample of one person households from the 1995 Survey
of Consumer Finances to explore gender differences in the investment decision-making
process. The determinants of some investment decisions were found to differ
by gender, but gender did not appear to be a critical determinant of investment
choice. Women were more likely to hold risky assets if expecting an inheritance,
employed and holding higher net worth; while men invested in risky assets
if they were risk seekers, divorced, older, and college educated.
Key Words: Gender differences, Single-person households,
Investment decisions, Risk aversion, Survey of Consumer Finances
1. Lori L. Embrey, Financial Advisor,
NEA Valuebuilder Investor Services, and Graduate Associate, Consumer and
Textile Sciences Department, The Ohio State University, 1787 Neil Ave.,
Columbus, OH 43210-1295. E-mail:firstname.lastname@example.org
2. Jonathan J. Fox, Assistant Professor,
Consumer Sciences Department, The Ohio State University, 1787
Neil Ave., Columbus, OH 43210-1295. E-mail: email@example.com