Socio-demographic Characteristics of Investors in the Warsaw Stock Exchange - How They Influence the Investment Decision

• Autorzy: Agata Kliber , Blanka Łęt , Aleksandra Rutkowska
• Języki publikacji: EN

Abstrakty

EN

The aim of the study was to investigate how age, gender, experience and education influence the investment decisions of individual investors in the Warsaw Stock Exchange. The source of data were two surveys sent to individual investors through the Polish Association of Individual Investors. In order to assess the significance of the given characteristics, we estimated a series of ordered logit regression models. Based upon the obtained answers and our estimations, we conclude, inter alia, that the Polish female investors typically have higher risk aversion and they trust the expert opinion, while the men are more likely to take risk. Less educated investors are also more eager to take higher risk, while the less experienced ones are more risk-averse. Unlike the more experienced market participants, they tend to estimate the risk of their portfolio through standard deviation or expected shortfall and use technical analysis more often. (original abstract)

Słowa kluczowe

EN

Interest rate risk; Risk assessment; NBP monetary policy; Open economy

PL

Ryzyko stopy procentowej; Ocena ryzyka; Polityka pieniężna NBP; Gospodarka otwarta

• Czasopismo: Bank i Kredyt
• Rocznik: 2016
• Numer: nr 2
• Strony: 91--117

Twórcy

autor

Agata Kliber

• Poznań University of Economics, Poland

autor

Blanka Łęt

• Poznań University of Economics, Poland

autor

Aleksandra Rutkowska

• Poznań University of Economics, Poland

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