Exploring the relationship between social activities and financial risk aversion in adults aged 50 + with depression caseness.

IF 3.5 4区 医学 Q1 HEALTH POLICY & SERVICES Israel Journal of Health Policy Research Pub Date : 2024-07-30 DOI:10.1186/s13584-024-00621-z
Shay Musbat, Inbal Reuveni, Racheli Magnezi
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Abstract

Background: Risk aversion due to depression is common among older adults, and social participation is associated with improved mental health and a lower risk of late-life depression. However, little is known about the connection between participation in social activities and risky financial decisions among adults with depression. Thus, we aim to examine the connection between participation in social activities and taking financial risks and investing in risky financial assets (with high-return potential) in such individuals, differentiated by age and gender. The study also focuses on analyzing the percentage of investors within each social activity, their attendance frequency, and motivation.

Methods: The data was obtained from the Survey of Health, Ageing and Retirement in Europe (SHARE) database Wave 2 (2006-2010). The study included 8,769 individuals aged 50 + with depression caseness, from 15 European countries and Israel who answered the question on participation in social activities and reported financial risk-taking intentions or behaviors (investing in stocks or shares, mutual funds or managed investment accounts, and both). The study utilized Pearson chi-square, odds ratios, Z, and hierarchical logistic regression tests.

Results: The odds for taking financial risks and investing in risky financial assets were higher for those participating in social activities compared to those who did not, on both intentional (by 173%) and behavioral (by 240-397%) levels. Such social activities (attended at least once a week, without financial motivation) have been shown to be primarily represented by educational or training courses - where 33% of participants invested in risky financial assets. The connection persisted after controlling for gender, age, marital status, children, income.

Conclusions: By overcoming the subjects' financial risk aversion, participation in social activities may help improve mental health in individuals aged 50 + with depression caseness. This has important implications for policymakers in healthcare, who by updating healthcare policies can fund and facilitate participation in social activities. As a result, the national healthcare system may benefit from lower hospitalization-related expenses, and generate higher cash flows into the country's economy using the population's renewed interest in investing available funds. These results are relevant in the wake of COVID-19 that increased loneliness and depression rates.

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探讨 50 岁以上患有抑郁症的成年人的社交活动与财务风险规避之间的关系。
背景:抑郁症导致的风险规避在老年人中很常见,而社会参与与心理健康的改善和晚年抑郁症风险的降低有关。然而,人们对患有抑郁症的成年人参与社交活动与风险财务决策之间的关系知之甚少。因此,我们旨在根据年龄和性别的不同,研究这类人群参与社交活动与承担金融风险和投资高风险金融资产(具有高回报潜力)之间的联系。本研究还重点分析了每种社会活动中投资者的比例、出席频率和动机:数据来自欧洲健康、老龄和退休调查(SHARE)数据库第 2 波(2006-2010 年)。研究对象包括来自 15 个欧洲国家和以色列的 8769 名 50 岁以上的抑郁症患者,他们回答了有关参加社会活动的问题,并报告了金融风险承担意愿或行为(投资股票或股份、共同基金或管理投资账户,以及两者兼而有之)。研究采用了皮尔逊卡方检验、几率比验、Z 检验和层次逻辑回归检验:参加社交活动的人与不参加社交活动的人相比,在意向(173%)和行为(240%-397%)两个层面上,承担金融风险和投资高风险金融资产的几率都更高。此类社会活动(每周至少参加一次,无经济动机)主要表现为教育或培训课程--33%的参与者投资于风险金融资产。在控制了性别、年龄、婚姻状况、子女、收入等因素后,这种联系依然存在:通过克服受试者的金融风险规避,参与社会活动可能有助于改善 50 岁以上抑郁症患者的心理健康。这对医疗保健领域的政策制定者具有重要意义,他们可以通过更新医疗保健政策来资助和促进人们参与社会活动。因此,国家医疗保健系统可能会因住院相关费用的降低而受益,并利用人们对投资可用资金的新兴趣为国家经济带来更多的现金流。COVID-19 增加了孤独感和抑郁症的发病率,因此这些结果具有现实意义。
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来源期刊
CiteScore
6.20
自引率
4.40%
发文量
38
审稿时长
28 weeks
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