Cultural Origins of Investment Behavior
Together with our guest speaker, William Gray, a financial planner from Hanoi, we will explore the effect of culturally transmitted economic preferences on individual investment behavior in the financial market. For example, children of immigrants from risk-loving cultures tend to invest more in directly-held stocks, often at the expense of mutual funds. On the other hand, individuals from more patient cultures tend to invest more in mutual funds and less in stocks.
It appears that cultural preferences have a significant, independent, and direct influence on financial decisions. Every culture has its own views on investing, earning interest, and what constitutes a “safe” investment.
William will now share his experience and insights from working in the financial market.
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