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Stature, obesity, and portfolio choice

Version 2 2024-06-13, 11:05
Version 1 2017-11-01, 12:13
journal contribution
posted on 2024-06-13, 11:05 authored by JM Addoum, G Korniotis, A Kumar
Using multiple U.S. and European data sources, we show that observed physical attributes are related to participation in financial markets. Specifically, we find that individuals who are relatively tall and of normal weight are more likely to hold stocks in their financial portfolios. We consider several potential mechanisms that could drive the relation between physical attributes and portfolio decisions. We find that teenage social experiences as well as genetic and prenatal endowments that are fixed at birth are the two channels through which height affects financial decisions. Furthermore, we find that the relation between body mass index and portfolio decisions is largely driven by education and race.

History

Journal

Management science

Volume

63

Pagination

3393-3413

Location

Catonsville, Md.

ISSN

0025-1909

eISSN

1526-5501

Language

eng

Publication classification

C Journal article, C1.1 Refereed article in a scholarly journal

Copyright notice

2016, INFORMS

Issue

10

Publisher

Institute for Operations Research and the Management Sciences