Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
987074 | Review of Financial Economics | 2012 | 8 Pages |
Abstract
We examine religious attendance and portfolio selection decisions for an individual with religious beliefs within a continuous-time framework. Our findings are three-fold. First, religious contributions increase with wealth capital, the degree of religious devotion, and an increase in the wage level. Second, religious attendance positively relates to wealth capital and the performance of stock investments, but negatively correlates with wage return rates. Third, participation in religious activities can result in declining demand for risky asset investments. Theoretically, this study explains how individuals’ portfolio choices correlate with their religious activities.
Keywords
Related Topics
Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Jin-Ray Lu, Chih-Ming Chan,