Portfolio Choice and Mental Health | Zendy

Vicki L. Bogan | Zendy; Angela R. Fertig | Zendy

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Portfolio Choice and Mental Health

Author(s) -

Vicki L. Bogan,

Angela R. Fertig

Publication year - 2012

Publication title -

review of finance

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 4.933

H-Index - 61

eISSN - 1875-824X

pISSN - 1572-3097

DOI - 10.1093/rof/rfs016

Subject(s) - portfolio , mental health , cognition , cognitive skill , population , psychology , psychiatry , actuarial science , business , medicine , finance , environmental health

Close to 30% of the US population experiences at least one mental or substance abuse disorder each year. Given the prevalence of mental health issues, this paper analyzes the role of mental health and cognitive functioning in household portfolio choice decisions. Generally, we find that households affected by mental health issues decrease investments in risky instruments. Various mental health issues can reduce the probability of holding risky assets by up to 19%. Moreover, single women diagnosed with psychological disorders increase investments in safe assets. We also find that cognitive functioning issues are associated with an increase in financial assets devoted to retirement

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