Religion groups and portfolio choice decisions: Evidence from UK households

Nicholas Apergis ()

Finance Research Letters, 2023, vol. 54, issue C

Abstract: The paper explores the effects of different religion groups on portfolio investment decisions for the case of UK households both in terms of mean and the volatility of such choices. The findings illustrate that certain groups (Catholics, Buddhists and Others/Atheists) favor investments in risky assets, while they increase the associated volatility. The results support the undertaking of higher speculative risk by those groups, while they provide information on a new factor for portfolio choice.

Keywords: Religion groups; Portfolio choice; UK households; Panel GARCH (search for similar items in EconPapers)
JEL-codes: C33 D14 G11 Z12 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:54:y:2023:i:c:s1544612323001241

DOI: 10.1016/j.frl.2023.103751

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