On the afternoon of December 22, 2023, the discussion "Portfolio Management for Offspring: Does Children's Gender Affect Risk-Taking?" Organized by the Faculty of Finance - HUB, it took place at Hall 36 Ton That Dam, District 1, Ho Chi Minh City Banking University.
Overview of the opening discussion
Attending the discussion, on the side of the University's leaders and representatives of units, there was Associate Professor Dr. Nguyen Duc Trung - Principal of HUB, PhD. Nguyen The Binh - Director of the Institute of Banking Science and Technology Research, PhD. Luong Thi Thu Thuy - Deputy Director in charge of the International Training Institute.
From the Faculty of Finance, there was the participation of Dr. Nguyen Anh Vu - Dean, PhD. Tran Tuan Vinh – Deputy Dean, PhD. Dang Thi Quynh Anh - Deputy Dean, Associate Professor Dr. Dang Van Dan - Head of Department of Finance and Monetary.
On the side of business representatives, guests included Dr. Nigel Finch - Former Deputy Dean - Former Associate Professor of Accounting - University of Sydney, Ms. Nguyen Thi Huu - Director of North SG Branch - MBS Securities Company, MSc. Nguyen Tan Man - Lecturer at Military Bank's Learning and Innovation Center.
The discussion also had the participation of lecturers of the Department of Finance, faculties in the school, students, graduate students, and PhD students of HUB.
The main speaker at the discussion program is Professor Jarkko Peltomäki, Stockholm Business School, Stockholm University, Sweden. Professor JARKKO PELTOMÄKI is an expert in the field of Financial Investment at Stockholm University, Sweden. He holds a Master's and PhD in Finance from Vaasa University, in Finland. He has published numerous articles in the fields of Portfolio Management and Investment Strategy; is also a regular reviewer for many leading journals such as: International Review of Economics and Finance, International Journal of Economics and Finance, Finance Research Letters, Financial Markets and Portfolio Management, The European Journal of Finance, ...
Associate Professor, Dr. Nguyen Duc Trung spoke at the opening of the discussion
Associate Professor, Dr. Nguyen Duc Trung, Rector of Ho Chi Minh City Banking University, spoke at the opening of the discussion. Associate Professor Dr. Nguyen Duc Trung shared that the School's abbreviation "HUB" means a place to converge, connect and spread knowledge, so the School always welcomes scholars, especially international scholars. Share knowledge, experience and methods with the HUB Scientific community. Therefore, Associate Professor Dr. Nguyen Duc Trung welcomes Professor Jarkko Peltomäki from Stockholm Business School, Stockholm University, Sweden, home of the Nobel Prize, the oldest university in Scandinavia, in the top 200 universities The world comes to HUB. HUB Principal also welcomed and sent his sincere thanks to domestic and international experts, lecturers, business representatives, and graduate students, practitioners and students who attended the conference.
Associate Professor, Dr. Nguyen Duc Trung clearly stated the development process of modern investment portfolio theories that were initiated in 1952 and the father of this theory, Professor Harry Markowitz, was honored to receive the Nobel Prize in 1990. The theory Modern Portfolio Management theory has created a solid theoretical basis and is a source of inspiration for the development of financial services such as fund management, portfolio management, wealth management as well as financial services. is an important topic in training at universities around the world. City University of Banking. Ho Chi Minh City also began to include Portfolio Management in undergraduate and graduate training programs since 2004, and this is also a research topic that has received great attention from lecturers and students. of HUB. Through the discussion, Professor Jakko Peltomaki will join HUB experts, business representatives, and learners to share new ideas in the field of investment portfolio management.
Associate Professor Dr. Nguyen Duc Trung, leader of the Faculty of Finance, gave souvenirs and took pictures with Professor Jakko Peltomaki
After the opening session, Professor Jakko Peltomaki presented a research report with the topic: "Portfolio Management for Offspring: Does Children's Gender Affect Risk-Taking?". The authors collected a dataset for the period 2015 - 2018 on stock portfolios and transactions of individual investors from Online Bank 'Avanza', Sweden's largest retail bank; with a total of more than 1.3 million observations, of which about 46,000 observations relate to accounts opened and invested by parents on behalf of their children. Based on variables such as: profit, standard deviation, Sharpe ratio, age, gender, number of transactions, transaction size, validity period of the trading account. The study evaluated the impact of factors such as gender and age on the level of risk, efficiency of investment portfolios, and investment behavior. In particular, the study focuses on answering the question: does investors' risk-taking behavior change when they manage investment portfolios for their children.
Professor Jakko Peltomaki presented a research report
At the discussion session, Dr. Nguyen Anh Vu - Head of the Faculty of Finance - HUB shares main research directions in the field of investment portfolio management. In particular, the research that Professor Jakko Peltomaki presented belongs to a very important direction, which is research on the level of risk aversion (Risk Adverse) or the level of risk tolerance (Risk Tolerance) of investors, a Important factors constituting the utility function according to the Markowitz model. However, besides the research results on the impact of gender factors on the level of risk taking (Risk-Taking), the highlight of this study is the study of behavior and the level of risk taking. Take on investor risks when managing a portfolio for your children. Accordingly, investors have a higher level of risk tolerance when managing their daughter's investment portfolio and a lower level of risk tolerance when managing their son's investment portfolio. Research results also show that the investment portfolios of investors whose parents opened investment accounts before the age of 18 are often more effective than the investment portfolios of investors who opened investment accounts before the age of 18. account after age 18.
From the above research, the workshop leader and participants prompted a lively discussion about the differences between the financial systems of Vietnam and Sweden; the fact that parents can open investment accounts for their children from a very young age and manage the investment portfolio on their behalf; Investment efficiency of investors who receive financial education and early access to investment activities through their parents, comparing asset allocation behavior of investors in Sweden in particular and Europe in general and Vietnamese investors; investment channels, fund management markets, and asset management in Europe and Vietnam.
Lecturers and researchers participating in the seminar also asked Professor Jakko Peltomaki in-depth questions about research models, data, research methods...
GS. Jakko Peltomaki and Dr. Nguyen Anh Vu - Dean of the Faculty of Finance co-chaired the discussion session
Dr. Tran Tuan Vinh, Deputy Dean of the Faculty of Finance, discussed potential investment channels in Vietnam
Ms. Nguyen Thi Huu - Director of North SG Branch - MBS Securities Company shared about the development potential of Vietnam's stock market, as well as the potential of the market for investment products managed by parents for their children.
Students actively discussed and learned
MSc. CFA Le Hoai An - Lecturer of the Faculty of Banking shares about the situation of Vietnam's financial market and trends in asset management.
Dr. Luong Thi Thu Thuy - Deputy Director in charge of the International Training Institute asked questions to the speaker
MSc. Graduate student Nguyen Van Phuc - lecturer of the Faculty of Finance asked questions to the speaker
Dr. Nguyen Anh Tu - Lecturer of the Faculty of Banking shared and asked questions
Delegates and students attending the discussion took souvenir photos
The discussion program is a vibrant academic forum with high professional quality, sharing information, knowledge, research experiences, and ideas between guest speakers, HUB experts, HUB learners and university representatives. representing businesses. In particular, the research results of Professor Jakko Peltomaki and his colleagues provide additional ideas about a new customer segment for Vietnamese securities companies, as well as financial education for Vietnamese children.
News story: Faculty of Finance
Image: P.TVTS&PTTH