股市损失的负效用:来自家庭暴力的证据

IF 6.8 1区 经济学 Q1 BUSINESS, FINANCE Review of Financial Studies Pub Date : 2022-08-04 DOI:10.1093/rfs/hhac049
Tse-Chun Lin, Vesa Pursiainen
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引用次数: 0

摘要

一周内的股票收益与周末报告的家庭暴力发生率呈负相关。这种关系主要是由负回报驱动的。家庭暴力的发生率随着损失的大小而增加,影响随着当地股票市场的参与而增加。我们的研究结果表明,股市崩盘造成的负面财富冲击会影响亲密关系中的压力水平,加剧争吵,并引发家庭暴力。股市损失可能会降低家庭效用,而不仅仅是对金融财富的冲击,这支持了损益模型,即损失的负效用超过了同样规模的收益的效用。
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The Disutility of Stock Market Losses: Evidence From Domestic Violence
Stock returns during the week are negatively associated with the reported incidence of domestic violence during the weekend. This relationship is primarily driven by negative returns. The incidence of domestic violence increases with the magnitude of losses, and the effect increases with local stock market participation. Our findings suggest that negative wealth shocks caused by stock market crashes can affect stress levels within intimate relationships, escalate arguments, and trigger domestic violence. Stock market losses may reduce household utility beyond the shock to financial wealth, supporting gain-loss models where disutility from losses outweighs the utility from gains of a similar magnitude.
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来源期刊
CiteScore
16.00
自引率
2.40%
发文量
83
期刊介绍: The Review of Financial Studies is a prominent platform that aims to foster and widely distribute noteworthy research in financial economics. With an expansive editorial board, the Review strives to maintain a balance between theoretical and empirical contributions. The primary focus of paper selection is based on the quality and significance of the research to the field of finance, rather than its level of technical complexity. The scope of finance within the Review encompasses its intersection with economics. Sponsoring The Society for Financial Studies, the Review and the Society appoint editors and officers through limited terms.
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