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Publicação
Education and financial literacy as factors of risk aversion
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| 9.68 MB | Adobe PDF |
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Resumo(s)
This consulting project, Client risk profile – the Portuguese case, commissioned by BPI Asset
Management, investigates the most relevant factors that determine the risk aversion of
Portuguese investors. Using qualitative and quantitative research methods, we demonstrate
why the average Portuguese citizen tends to be excessively risk-averse compared to its
European peers. The quantitative analysis was based on our survey’s results. A multiple linear
regression using various factor variables allowed us to analyze the effect of each factor on the
Portuguese investor’s risk aversion and the correlation between them. After that, individual
portfolios were designed for the different risk profiles, maximizing return while respecting the
maximum drawdown desired by the investors and calculated the VaR. Afterwards, a deeper
dive into each factor is explained for better understanding on its effect on risk aversion.
Descrição
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Age Education Financial literacy Gender Income Wealth Health Housing Risk profile Risk aversion Investing Risky assets