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Stock market risk and suicide

Author

Listed:
  • Koh, Kanghyock
  • Han, Hyojin

Abstract

We study the effects of stock market returns and volatility on suicide. Using data from stock market prices and individual-level death records from 2000 to 2019 in South Korea, we document evidence that one standard deviation increase in stock market volatility increases suicide rate by 3.5%. Unlike the findings of previous studies regarding the relationships between stock market returns and other measures of health, we document evidence of the non-linear effects of stock market returns on suicide rates only. This study contributes to the literature by providing novel evidence on the effects of the risk of household investments on investors' health.

Suggested Citation

  • Koh, Kanghyock & Han, Hyojin, 2023. "Stock market risk and suicide," Pacific-Basin Finance Journal, Elsevier, vol. 78(C).
    • Handle: RePEc:eee:pacfin:v:78:y:2023:i:c:s0927538x23000458
    DOI: 10.1016/j.pacfin.2023.101979
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    References listed on IDEAS

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    More about this item

    Keywords

    Stock market returns; Stock market volatility; Risk; Suicide;
    All these keywords.

    JEL classification:

    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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