Religion and People’s Choice of Financial Assets: A Research Based on CGSS2010

Abstract

As an important part of culture, religion can influence people's attitude about worth and wealth, thus their economical behavior and financial decisions. Based on CGSS2010 data, this paper analyzes the relationship between religion and people's choice of financial assets. The empirical results of this paper show that, those who believe in religion are more willing to hold risk assets than those who do not believe in religion, including the stocks and funds, bonds, etc.