Till death (or divorce) do us part: Early-life family disruption and investment behavior

Betzer A, Limbach P, Rau PR, Schürmann H (2021)
Journal of Banking & Finance 124: 106057.

Zeitschriftenaufsatz | Veröffentlicht | Englisch
 
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Autor*in
Betzer, André; Limbach, PeterUniBi ; Rau, P. Raghavendra; Schürmann, Henrik
Abstract / Bemerkung
We document a long-lasting association between a common societal phenomenon, early-life family disruption, and investment behavior. Controlling for socioeconomic status and family background, we find fund managers who experienced the death or divorce of their parents during childhood exhibit a stronger disposition effect, take lower risk, and are more likely to sell their holdings following risk-increasing firm events. The results are consistent with persistent symptoms of post-traumatic stress and strengthen as treatment intensifies. The evidence adds to our understanding of the role of social factors and “nurture” in finance as well as the origin of investment biases.
Erscheinungsjahr
2021
Zeitschriftentitel
Journal of Banking & Finance
Band
124
Art.-Nr.
106057
ISSN
03784266
Page URI
https://pub.uni-bielefeld.de/record/2958464

Zitieren

Betzer A, Limbach P, Rau PR, Schürmann H. Till death (or divorce) do us part: Early-life family disruption and investment behavior. Journal of Banking & Finance. 2021;124: 106057.
Betzer, A., Limbach, P., Rau, P. R., & Schürmann, H. (2021). Till death (or divorce) do us part: Early-life family disruption and investment behavior. Journal of Banking & Finance, 124, 106057. https://doi.org/10.1016/j.jbankfin.2021.106057
Betzer, A., Limbach, P., Rau, P. R., and Schürmann, H. (2021). Till death (or divorce) do us part: Early-life family disruption and investment behavior. Journal of Banking & Finance 124:106057.
Betzer, A., et al., 2021. Till death (or divorce) do us part: Early-life family disruption and investment behavior. Journal of Banking & Finance, 124: 106057.
A. Betzer, et al., “Till death (or divorce) do us part: Early-life family disruption and investment behavior”, Journal of Banking & Finance, vol. 124, 2021, : 106057.
Betzer, A., Limbach, P., Rau, P.R., Schürmann, H.: Till death (or divorce) do us part: Early-life family disruption and investment behavior. Journal of Banking & Finance. 124, : 106057 (2021).
Betzer, André, Limbach, Peter, Rau, P. Raghavendra, and Schürmann, Henrik. “Till death (or divorce) do us part: Early-life family disruption and investment behavior”. Journal of Banking & Finance 124 (2021): 106057.

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