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  • How diversified are household asset portfolios?

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    WestPUB5901.pdf (560.1Kb)
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    Version of Record (VoR)
    Author(s)
    West, Tracey
    Worthington, Andrew C
    Griffith University Author(s)
    West, Tracey
    Year published
    2018
    Metadata
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    Abstract
    Households face constraints that limit the extent to which they can optimally diversify their asset portfolios in line with Markowitz portfolio theory. This study measures the diversification of Australian households using four alternative measures better suited to households and successive waves of the Household, Income, and Labor Dynamics in Australia (HILDA) Survey. We examine how these measures of diversification vary across time and the population. We find that diversification is generally poor and varies significantly by wealth, age, household structure, and financial stance and risk. Index Terms - Asset portfolios, ...
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    Households face constraints that limit the extent to which they can optimally diversify their asset portfolios in line with Markowitz portfolio theory. This study measures the diversification of Australian households using four alternative measures better suited to households and successive waves of the Household, Income, and Labor Dynamics in Australia (HILDA) Survey. We examine how these measures of diversification vary across time and the population. We find that diversification is generally poor and varies significantly by wealth, age, household structure, and financial stance and risk. Index Terms - Asset portfolios, Diversification, Household socioeconomic and demographic characteristics, Financial risk-taking.
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    Journal Title
    International Journal of Management and Applied Science
    Volume
    4
    Issue
    3
    Publisher URI
    http://ijmas.iraj.in/paper_detail.php?paper_id=11503&name=How_Diversified_are_Household_Asset_Portfolios?
    Copyright Statement
    © 2018 Institute of Research and Journals. The attached file is reproduced here in accordance with the copyright policy of the publisher. Please refer to the journal's website for access to the definitive, published version.
    Subject
    Banking, finance and investment not elsewhere classified
    Publication URI
    http://hdl.handle.net/10072/381448
    Collection
    • Journal articles

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