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Events

Economics and Finance seminar series

Wednesday, 5 December 2018
16:00 to 17:30
Dr Jong Shin
Durham University Business School, MHL 453

Can asset management improve the financial well-being of older age groups? Evidence from Europe.Dr. Jong Shin, Lecturer in Economics at Newcastle University, will be speaking at this seminar. Click here for more information

Abstract

We empirically investigate the interplay between the input and output of household asset management (AM) and the portfolio choice of older-age households in Europe. We first confirm the results of previous studies by showing that critical inputs into household asset management, such as education, explain successful portfolio choice. To establish the direct causal link between AM and financial outcomes, we first explore the determinants AM time (AMT), which serves as the first stage of our IV regressions. Consistent with human capital theory, we find the AMT is positively associated with formal schooling as well as additional components of human capital, such as various health conditions relevant for processing information (e.g. eyesight for reading, obesity). We perform OLS and instrumental variable regressions of financial outcomes on quantity and quality of AMT. We find a strong positive relationship between these variables.

Economics and Finance seminar series

Wednesday, 5 December 2018
16:00 to 17:30
Dr Jong Shin
Durham University Business School, MHL 453

Can asset management improve the financial well-being of older age groups? Evidence from Europe.Dr. Jong Shin, Lecturer in Economics at Newcastle University, will be speaking at this seminar. Click here for more information

Abstract

We empirically investigate the interplay between the input and output of household asset management (AM) and the portfolio choice of older-age households in Europe. We first confirm the results of previous studies by showing that critical inputs into household asset management, such as education, explain successful portfolio choice. To establish the direct causal link between AM and financial outcomes, we first explore the determinants AM time (AMT), which serves as the first stage of our IV regressions. Consistent with human capital theory, we find the AMT is positively associated with formal schooling as well as additional components of human capital, such as various health conditions relevant for processing information (e.g. eyesight for reading, obesity). We perform OLS and instrumental variable regressions of financial outcomes on quantity and quality of AMT. We find a strong positive relationship between these variables.