Terrorist attacks and investor risk preference: Evidence from mutual fund flows

Using a comprehensive list of terrorist attacks over three decades, we find that aggregate investor risk aversion inversely relates to terrorist activity in the United States. A one standard deviation increase in the number of attacks each month leads to a $75.09 million drop in aggregate flows to e...

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Veröffentlicht in:	Journal of financial economics 2020-08, Vol.137 (2), p.491-514
Hauptverfasser:	Wang, Albert Y., Young, Michael
Format:	Artikel
Sprache:	eng
Schlagworte:	Avoidance behavior Equity funds Investors Mutual fund flows Mutual funds Risk Risk aversion Risk preference Terrorism Visceral emotions Wealth
Online-Zugang:	Volltext
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