Nicolás Salamanca|Andries de Grip|Didier Fouarge|Raymond Montizaan
Locus of control and investment in risky assets
ARC Centre of Excellence for Children and Families over the Life Course|University of Melbourne|IZA - Institute of Labor Economics|IZA - Institute of Labor Economics|Network for Studies on Pensions, Aging and Retirement|Maastricht University|IZA - Institute of Labor Economics|Network for Studies on Pensions, Aging and Retirement|Maastricht University|IZA - Institute of Labor Economics|Network for Studies on Pensions, Aging and Retirement|Maastricht University
internal locus control important personality trait strongly related many economic outcomes show probability equity share equity household portfolios increase peoples internal locus control explore find evidence hypothesis relation driven link internal economic locus control subjective expectations return risk investment equity relation locus control investment equity also remains controlling risk time preferences financial literacy overconfidence optimism trust personality traits also show locus control stronger relation investment equity financially illiterate investors results document strong robust relation locus control investment behaviour cannot explained leading behavioural investment theories