İşletme Fakültesi Araştırma Semineri | Finans | Serif Aziz Simsir

Tarih: 15.03.2024
Saat: 13:00-14:30
Yer: AB2 345

Konuşmacı: Serif Aziz Simsir   - Sabancı University

Başlık: Prenatal Adversity and Portfolio Decisions During Adulthood 

Özet: Using earthquake exposure during pregnancy as a proxy for in utero insults, we examine whether prenatal adversity influences investment decisions during adulthood. Compared with individuals born immediately before an earthquake, individuals exposed to a major earthquake in utero participate less in the stock market, hold less diversified portfolios, trade excessively, and earn lower returns. Earthquake exposure during the third trimester of pregnancy has stronger impact, while the impact is weaker among individuals with extreme prenatal adversity, as surviving babies likely have superior characteristics. The sensitivity to prenatal adversity is stronger among women.