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<p> </p><p>The statistics has shown that men and women have different investing strategies, where men tend to choose riskier investments and women lean towards less risky investments. The financial theory states that individuals are risk averse in general, and some prior studies have shown that women are more so than men. Moreover, financial knowledge and experience have been pointed out to be one of the factors affecting one’s financial risk tolerance. This paper researches these issues by addressing the following to questions: Are there any gender differences in Financial Risk Tolerance? Does knowledge and experience have impact on Financial Risk Tolerance? A literature search has been done and relevant theory has been gathered and review, which served as a base and a framework for conducting this study. A quantitative methodological study has been carried out by handing out questionnaires, based on a 13-item Financial Risk Tolerance scale developed by Grabble & Lytton (1999). The target population was the Umeå University students. The size of the sample was 139. The findings of this paper confirm prior studies which state that women, in general, are less risk tolerant then men – female students scored lower on the Financial Risk Tolerance Score than male students. Furthermore, this study also shows that one’s Financial Risk Tolerance is affected by experience and knowledge in the field of finance – students that are studying economics had higher Financial Risk Tolerance score than students that were studying other subjects.</p><p> </p>

The statistics has shown that men and women have different investing strategies, where men tend to choose riskier investments and women lean towards less risky investments. The financial theory states that individuals are risk averse in general, and some prior studies have shown that women are more so than men. Moreover, financial knowledge and experience have been pointed out to be one of the factors affecting one’s financial risk tolerance. This paper researches these issues by addressing the following to questions: Are there any gender differences in Financial Risk Tolerance? Does knowledge and experience have impact on Financial Risk Tolerance? A literature search has been done and relevant theory has been gathered and review, which served as a base and a framework for conducting this study. A quantitative methodological study has been carried out by handing out questionnaires, based on a 13-item Financial Risk Tolerance scale developed by Grabble &amp; Lytton (1999). The target population was the Umeå University students. The size of the sample was 139. The findings of this paper confirm prior studies which state that women, in general, are less risk tolerant then men – female students scored lower on the Financial Risk Tolerance Score than male students. Furthermore, this study also shows that one’s Financial Risk Tolerance is affected by experience and knowledge in the field of finance – students that are studying economics had higher Financial Risk Tolerance score than students that were studying other subjects.

The purpose of this study is to describe the financial risk tolerance of young swedish residents, which factors that affect their financial risk tolerance, and how their risk tolerance affects their investment behavior. Previous studies within the subject of financial risk tolerance have focused on a wider range of ages, and most of the studies have been made on an American population. This study also contributes with more factors in the same study than many previous studies. The factors included in this research are Gender, degree of education, relationship status, income, mood, birth order, future economic expectations, and financial knowledge. The research contains a quantitative study, where the data have been collected with a survey. The study has a deductive approach, which means that the study starts with theory and moves on with empiricism and hypotheses. The hypotheses have been developed from the results of earlier studies. The survey was dedicated to young Swedish residents in the ages of 18 to 30 years old. There were 123 respondents who answered the survey, which contained 24 questions. To measure the risk tolerance of young swedish residents, the Grable and Lytton’s Risk Tolerance Scale have been used. The result of the study tells us that the financial risk tolerance of young swedish residents are affected by the factors: Gender, future expectations on the stock market and financial knowledge. The study also tells us that there is a significant different in financial risk tolerance between young swedish residents who invest in stocks, compared to those who do not invest in stocks.

The economic development in Sweden in recent years has led to increased financial savings in Swedish households. Financial savings have mostly increased on bank accounts with low interest rates, since private individuals generally have a more cautious position on stocks and stock trading. The reason for this passive position is believed to be due to the fact that decisions that benefit most economically often challenge the feeling of being in control. At the same time, cautious position that a particular individual possess is affected by the risk-tolerance. As a consequence, the risk tolerance of private individuals affects the investment decision and hence the development of the stock market. Savings and investment are two important factors that affect a nation's economic growth, which makes it important to study underlying factors to what affects an individual when making a financial decision. When talking about risk tolerance in everyday life, previous research has revealed that there are four different aspects that affect this complex concept, namely the economic aspect, physical aspect, social aspect and ethical aspect. As investment decisions are affected by financial risk tolerance and the four aspects in turn, affect risk tolerance, the issue becomes how these aspects affect a private investor's financial risk tolerance when investing in stocks. The purpose of this study has been to explain the four aspects of a person’s risk tolerance when investing in stocks. The study has been conducted using a quantitative method and deductive approach. The selection group that the study turned to is Swedish stock investors and the data collection has been done by a survey that was answered by 232 people. The underlying factors for the four aspects tested in the study are income, gender, age, education, marital status and ethical character. The study shows that all four aspects together have a combined impact on private individuals' financial risk tolerance. The study has also shown that all the four aspects, each one separately, are linked to financial risk tolerance, by the underlying factors, income level, gender, marital status and ethical character. / De senaste årens ekonomiska utveckling i Sverige har lett till ett ökat finansiellt sparande i de svenska hushållen. Detta sparande har mestadels ökat på bankkonton med låga räntor då privatpersoner i allmänhet har ett mer försiktigt ställningstagande till aktie och börshandel. Anledningen till detta passiva ställningstagande tros bero på att beslut som gynnar mest ekonomiskt ofta utmanar känslan av att ha kontroll. Samtidigt påverkas ställningstagandet av den risktoleransnivå som en viss individ besitter. Följden av detta blir att privatpersoners risktolerans påverkar investeringsbeslutet och därmed även utvecklingen av aktiemarknaden. Sparande och investering är två viktiga faktorer som påverkar en nations ekonomiska tillväxt vilket gör det viktigt att studera bakomliggande faktorer till vad som påverkar en privatperson när ett finansiellt beslut ska tas. När det pratas om risktolerans i vardagslivet har tidigare forskning delgett att det finns fyra olika aspekter som påverkar detta komplexa begrepp, nämligen den ekonomiska aspekten, fysiska aspekten, sociala aspekten och etiska aspekten. Då investeringsbeslut påverkas av den finansiella risktoleransen och risktoleransen i sin tur påverkas av de fyra aspekterna blir problemfrågan hur dessa aspekter påverkar en privatpersons finansiella risktolerans vid investering i aktier.  Syftet med denna studie har varit att förklara de fyra aspekterna för privatpersoners finansiella risktolerans vid aktieinvestering. Studien har genomförts med hjälp av en kvantitativ metod och deduktiv ansats. Den urvalsgrupp som studien vänt sig till är svenska aktieinvesterare och datainsamlingen har gjorts med hjälp av en enkätundersökning som besvarats av 232 personer.  De bakomliggande faktorerna för de fyra aspekterna som har testats i studien är inkomst, kön, ålder, utbildning, civilstånd och etisk karaktär. Studien visar att alla fyra aspekter tillsammans har sammantagen påverkan på privatpersoners finansiella risktolerans. Studien har även visat att alla de fyra aspekterna har en koppling till den finansiella risktoleransen, var och en för sig, genom de underliggande faktorerna inkomstnivå, kön, civilstånd och etisk karaktär.