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Gender matters most. The impact on short‐term risk aversion following a financial crash

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  • James Byder
  • Diego A. Agudelo
  • Ignacio Arango

Abstract

This paper examines how investors in an emerging market react to a domestic financial crisis. We conjecture that risk aversion increases following such events and that the effect is more pronounced among specific groups of investors. Our study makes use of a unique dataset of mutual fund investors from one of Colombia's largest stock brokers. Our results reveal that women and self‐employed individuals make the largest withdrawals from risky funds after financial crises.

Suggested Citation

  • James Byder & Diego A. Agudelo & Ignacio Arango, 2019. "Gender matters most. The impact on short‐term risk aversion following a financial crash," Review of Financial Economics, John Wiley & Sons, vol. 37(1), pages 106-117, January.
    • Handle: RePEc:wly:revfec:v:37:y:2019:i:1:p:106-117
    DOI: 10.1002/rfe.1038
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    References listed on IDEAS

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