Uma análise do perfil conservador do investidor brasileiro pessoa física

• Ano de defesa: 2021
• Autor(a) principal: Zanotelli, Márcia Virginia de Almeida
• Tipo de documento: Dissertação
• Tipo de acesso: Acesso aberto
• Idioma: por
• Palavras-chave em Português: Finanças Comportamentais; Perfil de Risco do Investidor; Modelo de Heckman; Poupança
• Link de acesso: http://www.repositorio.ufc.br/handle/riufc/59314

Savings are the most preferred financial product in Brazil. It should also be noted that most of the investors concentrate all their investments in this product, characterizing them with a conservative risk profile. This work seeks to investigate which socioeconomic characteristics of the Brazilian investor influence his behavior of expos ure to conservative risk. The analysis was based on the scope of Behavioral Finance, which aims to identify the profile and behavior of individuals, regarding the way they treat thei r investments and the variables that influence their emotions for decision making. The database used is made available by ANBIMA, they do a research called Raio X do Investidor Brasileiro , for the years 2018 and 2019. The model proposed by Heckma n (1977) w as applied in two stages to analyze the probabilities. The first stage tes ts the selection bias hypothesis, and the second stage estimates the variables that characterize the conservative profile of the investor. The results obtained with this classificati on corresponded to a supremacy of conservatism in the order of 70%. Regarding socioeconomic characteristics, age, gender, income and whether the individual saved in the previous year had an impact on the profile.