Portfolio Choice in The Presence of Personal Illiquid Projects  

Oleh:

Shum, Pauline ; Faig, Miquel

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Journal of Finance (EBSCO) vol. 57 no. 1 (2002), page 303-328.
Topik: portfolio; portfolio management; studies; liquidity; assets
Fulltext: p 303.pdf (177.88KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: JJ88.5 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

Personal projects, such as a private business of the purchase of a home, influence individuals' portfolio choice. We conduct a theoretical analysis of this influence when financial assets are required to provide liquifity to personal projects. Due to this liquidity consideration, individuals behave in a more risk - averse fashion when there is a large penalty for discontinuing or underinvesting in the final stages of the projects. In addition, using data from the 1995 survey of consumer finances, we find that households that are saving to invest in their pwn businesses or in their own homes indeed have significantly safer financial portfolios.

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali