Skillnader mellan kvinnors och mäns riskaversion samt dess påverkan på riskjusterad avkastning - En studie utförd på Avanzas kunder

Abstract

The purpose of this thesis is to study if there are differences in terms of risk and risk adjusted-return on two fictitious portfolios constructed for female and male investors. The thesis investigates the Swedish market during the period 2018-04-08 to 2019-04-08. The data used in this thesis is collected through a collaboration with the Swedish financial institution Avanza. Carhart four-factor-model is used to investigate the differences. This paper can conclude that females tend to hold less risky assets in their portfolios compared to men. However, this difference is visibly small. Furthermore, the paper concludes that females earn a higher risk-adjusted return of their portfolio, compared to males.