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Título: | Analysis of variance in household financial portfolio choice: evidence from Spain |
Fecha de publicación: | 2017 |
Cita bibliográfica: | Finance a úvěr-Czech Journal of Economics and Finance 67 (5), 2017: 439-459 |
ISSN: | Print: 0015-1920 Electronic: 2464-7683 |
Palabras clave: | Household portfolio Multivariate fractional logit Analysis of variance Spanish Survey of Household Finances |
Resumen: | We analyse the determinants of the household financial portfolio allocation using an estimator and a variance decomposition that take into account the constrained nature of household portfolio allocations. We apply these methods to a large data set of financial assets. Results show that the main factors underlying household financial portfolio choice in Spain are age and net wealth. Among others, there is also evidence of sizeable effects associated with risk aversion, education, liquidity constraints and income, but very modest effects are associated with family size and having accounts in stand-alone internet banks. Implications for policy are also derived. |
Autor/es principal/es: | Callado Muñoz, Francisco José González Chapela, Jorge Utrero González, Natalia |
Facultad/Departamentos/Servicios: | Facultades, Departamentos, Servicios y Escuelas::Departamentos de la UMU::Organización de Empresas y Finanzas |
URI: | http://hdl.handle.net/10201/139040 |
Tipo de documento: | info:eu-repo/semantics/article |
Número páginas / Extensión: | 21 |
Derechos: | info:eu-repo/semantics/embargoedAccess |
Descripción: | ©2017. This document is the Accepted, version of a Published Work that appeared in final form in Finance a úvěr-Czech Journal of Economics and Finance. |
Aparece en las colecciones: | Artículos: Organización de Empresas y Finanzas |
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Finance Uver Analysis of variance in household financial portfolio choice Evidence from Spain.pdf | 1,25 MB | Adobe PDF | Visualizar/Abrir Solicitar una copia |
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