Buly A. Cardak|Roger Wilkins
The determinants of household risky asset holdings: Australian evidence on background risk and other factors
La Trobe University|University of Melbourne
study portfolio allocation decisions australian households using relatively new household income labour dynamics australia hilda survey focus household allocations risky financial assets empirical analysis considers range hypothesised determinants allocations find background risk factors posed labor income uncertainty health risk important credit constraints observed risk preferences play expected role positive age gradient identified risky asset holdings homeownership associated greater risky asset holdings unifying theme many empirical findings important role played financial awareness knowledge determining risky asset holdings many nonstockholding households appear lack experience financial literacy might enable benefit direct investment stocks