As mulheres investem diferente dos homens? Um estudo sobre a diferença de gênero em investimentos

Resumo

This research explores behavioral finance and risk analysis, focusing on identifying potential differences in the investment decision-making processes between women and men. The main objective is to analyze whether gender-based differences exist in investment behavior and to understand the possible reasons for these distinctions. This theme gains relevance due to the growing interest from the financial industry in understanding investors behavior. However, studies examining the intersection of behavioral finance and gender in investment decisions, remain limited within Literature in Brazil. Regarding the specific profile of female investors there is a lack of information. To address this gap, this research will conduct a quantitative analysis using historical data from B3 on equities and government bonds (Tesouro Direto) traded by male and female investors from the Southeast region of Brazil, covering the period from January 1, 2018, to December 31, 2023. This will be complemented by cross-cheking data from the 7th edition of the “Raio X do Investidor Brasileiro” survey, conducted by Anbima and Datafolha. The study aims to contribute to the academic literature by offering deeper insights into the behavior, knowledge and attitudes of female investors.This study recommends that governmental and regulatory bodies seize the opportunity to design and implement tailored financial education programs for women, particularly those from low-income and socially vulnerable groups who often serve as the sole financial providers for their families. Ensuring equitable access to financial literacy is a critical step toward enhancing women’s autonomy and confidence in participating in capital markets, as well as in building long-term financial security through retirement savings. Additionally, this research highlights the imperative for the financial industry to develop innovative investment methodologies and products that are better aligned with the specific needs, preferences, and life contexts of female investors. Effective interventions should not only enhance women’s access to financial information and education but also foster confidence in their financial capabilities, thus encouraging greater female participation in decision-making and financial planning.

Ficha do documento

Tipo

Dissertação

Ano

2025

Instituição

Fundação Getulio Vargas

Fonte

Repositório da FGV

Idioma

Português

Acesso

Acesso aberto

Identificador

oai:repositorio.fgv.br:10438/36963

Palavras-chave

Comportamento em finançasComportamento do investidorDiferença de gêneroTolerância a riscoMulheres e investimentosBehavior in financeInvestor behaviorGender differenceRisk toleranceWomen and investmentsAdministração de empresasFinanças - Aspectos psicológicosProcesso decisórioInvestidores (Finanças) - CondutaRelações de gêneroAvaliação de riscos