Neighbors matter for risk tolerance

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F25%3A10508400" target="_blank" >RIV/00216208:11230/25:10508400 - isvavai.cz</a>

Výsledek na webu

<a href="https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=2eKSvyedfN" target="_blank" >https://verso.is.cuni.cz/pub/verso.fpl?fname=obd_publikace_handle&handle=2eKSvyedfN</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1080/1351847X.2025.2473368" target="_blank" >10.1080/1351847X.2025.2473368</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Neighbors matter for risk tolerance

Popis výsledku v původním jazyce

This paper examines the existence of peer effects in self-assessed financial risk tolerance in a real-world banking context. Using a large dataset of over 62,000 French retail bank clients, we investigate the relationship between the risk tolerance of a community and the risk tolerance of each individual residing in that community. Our analysis suggests that individuals tend to exhibit higher risk tolerance when their surrounding community does as well. This finding is further validated through robustness checks, including instrumental variable analysis and placebo tests. This evidence is consistent with the hypothesis of an assimilation peer effect in risk tolerance. Additionally, we observe that this peer effect increases with age and socialization, while it remains unaffected by gender differences.

Název v anglickém jazyce

Neighbors matter for risk tolerance

Popis výsledku anglicky

This paper examines the existence of peer effects in self-assessed financial risk tolerance in a real-world banking context. Using a large dataset of over 62,000 French retail bank clients, we investigate the relationship between the risk tolerance of a community and the risk tolerance of each individual residing in that community. Our analysis suggests that individuals tend to exhibit higher risk tolerance when their surrounding community does as well. This finding is further validated through robustness checks, including instrumental variable analysis and placebo tests. This evidence is consistent with the hypothesis of an assimilation peer effect in risk tolerance. Additionally, we observe that this peer effect increases with age and socialization, while it remains unaffected by gender differences.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2025

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

European Journal of Finance

ISSN

1351-847X

e-ISSN

1466-4364

Svazek periodika

31

Číslo periodika v rámci svazku

10

Stát vydavatele periodika

GB - Spojené království Velké Británie a Severního Irska

Počet stran výsledku

20

Strana od-do

1225-1244

Kód UT WoS článku

001440939200001

EID výsledku v databázi Scopus

2-s2.0-86000645709