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Title: Essays in Financial Economics
Resulting in 1 citation.
1. Bazley, William J.
Essays in Financial Economics
Ph.D. Dissertation, Department of Finance, Miami University, 2019
Cohort(s): NLSY79
Publisher: ProQuest Dissertations & Theses (PQDT)
Keyword(s): Assets; Discrimination; Financial Behaviors/Decisions; Income Risk; Racial Differences

Permission to reprint the abstract has not been received from the publisher.

This dissertation contains three essays in financial economics. The final essay shows that social factors impact households' financial decisions. Specifically, both experimental and field data suggest that exposure to social discrimination affects the risk perceptions and portfolio decisions of U.S. households. Experiments indicate that minorities perceive greater income risk. Minorities with relatively high risk perceptions are 10% less likely to invest. Discrimination further lowers the stock ownership of minorities by 2-5%. White heterosexual males exhibit no relations among perceived income risk, discrimination, and stock ownership. Results from field data support the experimental evidence, indicating that discrimination reduces stock ownership among minorities by 4-8%. The economic significance of socially-amplified risk perceptions is comparable to that of income and education.
Bibliography Citation
Bazley, William J. Essays in Financial Economics. Ph.D. Dissertation, Department of Finance, Miami University, 2019.