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The Impact of Financial Crisis on Investors’ Risk Aversion. Evidence on Romanian Capital Market

Author

Listed:
  • Păun Cristian

    (Academia de Studii Economice din Bucureşti)

Abstract

The dynamic of financial markets is determined by the corporate earnings prospects change but the capital investments also move as investors shift their tolerance to risk. In the finance theory, one of the most important observations is that investors expect higher return for taking higher risk (compared with risk-free situation). The risky assets are exchanged against risk free assets (treasury bills) only if there is an additional return for doing this. The relationship between risk and return is submitted to be a positive one.

Suggested Citation

  • Păun Cristian, 2010. "The Impact of Financial Crisis on Investors’ Risk Aversion. Evidence on Romanian Capital Market," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 01, March.
    • Handle: RePEc:oen:econom:y:2010:i:01:id:228
    as

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    More about this item

    Keywords

    risk aversion; individual investor; capital market;
    All these keywords.

    JEL classification:

    • D53 - Microeconomics - - General Equilibrium and Disequilibrium - - - Financial Markets
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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