The Association between Financial Activities and Self-Rated Health in Middle-Aged and Older Adults

Yueh-Ping Li (), Hua-Wei Huang () and Ya-Chih Yang
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Yueh-Ping Li: Department of Nursing, National Tainan Junior College of Nursing, Tainan, Taiwan, R.O.C.
Hua-Wei Huang: Department of Accountancy & Center for Innovative FinTech Business Models, National Cheng Kung University, Tainan, Taiwan, R.O.C.
Ya-Chih Yang: Department of Accountancy & Center for Innovative FinTech Business Models, National Cheng Kung University, Tainan, Taiwan, R.O.C.

Review of Pacific Basin Financial Markets and Policies (RPBFMP), 2022, vol. 25, issue 04, 1-14

Abstract: The extant literature has provided a lot of evidence that supports positive associations between participation in activities and health. However, the health effects of high or low risk financial activities (FAs) are presently ambiguous, especially across age groups. With a sample of 313 subjects in Taiwan, this study examines whether participation in high or low risk FAs (savings, stocks, mutual funds, and real estate) benefits self-rated health (SRH) in middle-aged and older adults. We find that (1) savings rates are consistently high for both middle-aged and older cohorts. However, middle-aged adult participation rate in FAs, in terms of stocks, mutual funds and real estate, is higher than that for older adults. (2) High risk FAs, especially stock investments, have a positive effect on SRH in middle-aged adults.

Keywords: Health; financial behavior; risk averse; decision making (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1142/S021909152250028X

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