Risk aversion, information searches, and distinct risky investment preference: The moderator effect of gender on risk aversion

The determinants of investment decision making under uncertainty have been widespread discussed. Yet it remains few empirical examining focusing on distinct risky investments. By integrating risk aversion and information search aspects and by theorizing the moderator of gender, this study has three contributions: (1) clarifying the likely direct effects of both risk aversion and information searches on distinct risky investment preference, (2) discussing heuristics reliance, a simplified information research method, across distinct risky investment preferences, and (3) greatly expanding our understanding for the moderator effect of gender on risk aversion. 500 investors with investment experiment from financial holding companies were surveyed and hierarchical regression analysis was employed. We expected that the results could provide empirical support for the propositions this article presented. Thus the practical implications for professional advisors or for mutual fund companies could be addressed.