Role of Gender in Predicting Determinant of Financial Risk Tolerance

Heena Thanki, Sweety Shah, Vrajlal Sapovadia, Ankit D. Oza and Dumitru Doru Burduhos-Nergis ()
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Heena Thanki: Department of Management, Shri Jairambhai Patel Institute of Business Management and Computer Applications (SJPI-NICM), Gandhinagar 382007, India
Sweety Shah: Faculty of Finance, L. J. Institute of Management Studies, L. J. University, Ahmedabad 382210, India
Ankit D. Oza: Department of Computer Sciences and Engineering, Institute of Advanced Research, Gandhinagar 382426, India
Dumitru Doru Burduhos-Nergis: Faculty of Materials Science and Engineering, Gheorghe Asachi Technical University of Iasi, 700050 Iasi, Romania

Sustainability, 2022, vol. 14, issue 17, 1-13

Abstract: This research was conducted to determine whether the determinants of financial risk tolerance varied by gender or whether the same factors influenced the risk-taking capacities of both genders. This study utilised personality types (Type-A and Type-B), financial literacy, and six demographic parameters, including marital status, age, education, income, occupation, and the number of dependents, as independent variables, and gender as a dividing variable. In order to conduct this study, information was gathered from 671 investors. The financial risk tolerance of male investors was determined by six out of eight independent factors (personality type, financial literacy, marital status, income, occupation, and the number of dependents). However, just four factors (personality type, financial literacy, marital status, and income) have a substantial impact on the financial risk tolerance of female investors.

Keywords: gender; financial risk tolerance; personality type; financial literacy (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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