MA Thesis

The Impact Of Socio-Demographic Factors On Gender Differences In Financial Decision-making



Published in:

Kyiv School of Economics


socio-demographic factors
gender differences
financial decision-making

The relationship between gender and financial decision-making has for long been an issue that has attracted attention amongst economists and other scholars of finance. Studies have shown that features of financial behavior, for instance, choice of investments, level of risks, saving habits, differs among gender. Unequal financial returns, retirement savings, investment portfolios, and overall financial well-being result from such differences. Socio-demographic factors such as age, educational degree, salary, single/married status, type of employment and culture affect individual's financial circumstances. Of course, these socio-demographic factors can influence financing decisions, however, it is still unknown how much interrelation they have with gender and why women make different financing decisions compared to men. The motivation for the study lies in effects of gender-based financial disparities on the affected person, family, or the society. Understanding the causes of differences would result in better policies and interventions for achieving financial equality and prosperity among the society members. In general, financial institutions and service providers, develop products and services ignoring the different financial needs and preferences among genders. The study helps identify the socio-demographic factors which influence these gender disparities, hence suggesting ways of designing specific finance options that will consider such variations in population.