2004 Fiscal Year Final Research Report Summary
Financial Education and Household Portfolios
| Project/Area Number |
14530119
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Single-year Grants |
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| Section | 一般 |
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| Research Field |
Public finance/Monetary economics
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| Research Institution | Kyoto Sangyo University |
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Principal Investigator |
NISHIMURA Yoshiko Kyoto Sangyo University, Faculty of Economics, Associate Professor, 経済学部, 助教授 (90319442)
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| Co-Investigator(Kenkyū-buntansha) |
MURAKAMI Keiko Prefectural University of Hiroshima, Faculty of Management and Information Systems, Assistant Professor, 経営情報学部, 講師 (90325142)
NISHIDA Sayuri Setouchi Junior College, School Nursing Department, Lecturer, 養護教育学科, 講師 (80390285)
SUZUKI Hiromasa Shiga University, Faculty of Education, Assistant Professor, 教育学部, 講師 (60280450)
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| Project Period (FY) |
2002 – 2004
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| Keywords | financial education / effect of education / efficiency of a portfolio / probit model |
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| Research Abstract |
In this study, we examine the efficiency of portfolios on the basis of the simulation data of the portfolio management simulation game. To select the assets, we employ the distance from the efficient frontier that is derived as the index of efficiency from the mean-variance portfolio theory. The results of the Probit analysis are consistent with the results derived from the Binary Panel Probit model analysis. The latter results suggest that the portfolio selected by one who understands new knowledge, possesses several types of assets, and predicts an improvement in the stock market, is efficient. Furthermore, a rise in the price index of stocks prior to portfolio selection decreases the efficiency of a portfolio. The previous portfolio performance does not affect the efficiency of the portfolio.
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Research Products
(6 results)
