Business Education and Portfolio Returns

Business Education and Portfolio Returns

We provide evidence of a positive causal link between financial knowledge acquired through business education and returns on stock investments. Using exogenous variation generated by admission thresholds to university business programs in Sweden, we document that early investments in financial sophi...

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Veröffentlicht in:SSRN Electronic Journal 2022
Hauptverfasser: Jansson, Thomas, Karabulut, Yigitcan, Altmejd, Adam
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Sprache:eng
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container_title SSRN Electronic Journal
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creator Jansson, Thomas
Karabulut, Yigitcan
Altmejd, Adam
description We provide evidence of a positive causal link between financial knowledge acquired through business education and returns on stock investments. Using exogenous variation generated by admission thresholds to university business programs in Sweden, we document that early investments in financial sophistication causes individuals to invest significantly more in the stock market, to earn higher portfolio returns, and to end up accumulating higher levels of wealth. Investments in financial sophistication at the launch of economic life thus significantly alters the life cycle wealth profiles of individuals
doi_str_mv 10.2139/ssrn.4280536
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