D4 Published development or research report or study
Early Health, Risk Aversion and Stock Market Participation (2019)

Böckerman, P., Conlin, A., & Svento, R. (2019). Early Health, Risk Aversion and Stock Market Participation. IZA Institute of Labor Economics. IZA Discussion Papers, 12341. http://ftp.iza.org/dp12341.pdf

JYU authors or editors

Publication details

All authors or editorsBöckerman, Petri; Conlin, Andrew; Svento, Rauli

Journal or seriesIZA Discussion Papers


Publication year2019

Number in series12341

Number of pages in the book52

PublisherIZA Institute of Labor Economics

Place of PublicationBonn

Publication countryGermany

Publication languageEnglish

Persistent website addresshttp://ftp.iza.org/dp12341.pdf

Publication open accessOpenly available

Publication channel open accessOpen Access channel

Publication is parallel published (JYX)https://jyx.jyu.fi/handle/123456789/67657


To examine the relationship between early health status and financial decisions in adulthood, we link information on birth weight in 1966 from the Northern Finland Birth Cohort to data from the Finnish Central Securities Depository over the period of 19952010. We find that persons predisposed to poor health status in early childhood (indicated by low birth weight) avoid participating in the stock market in adulthood. The link between birth weight and stock market participation is partially explained by the fact that poor early health status leads to risk aversion. Early health status is not significantly related to the portfolio’s value-growth tilt.

Keywordspersonal financesecurity marketrisk-takingunderlying factorsearly childhoodstate of healthbirth weight

Free keywordshealth status; stock market participation

Contributing organizations

Ministry reportingYes

Reporting Year2019

Last updated on 2024-11-05 at 19:05