摘要：This paper examines the impact of gender on risk aversion in portfolio selection. Using an account data for over than 2166 customers of a Tunisian Brokerage firm, our empirical results show significant relationship between risk aversion and each of exogenous variables including gender, financial knowledge, age, education level and wealth. Furthermore, the level of educati on and knowledge in finance has an adverse effect on risk aversion by gender. These findings have several important implications on opt imal asset allocation and portfolio managers.
关键词：Gender difference; Risk aversion; Tunisian stock market
