Working Paper Series,
Royal Institute of Technology, Department of Real Estate and Construction Management & Banking and Finance

Abstract: This paper investigates gender roles in children’s savings, specifically defined as differences pertaining to age, capital invested, financial activity and portfolio composition, using a sample of 58,000 children. We observe gender differences between young female and male account holders. The average age and activity level of boys are significantly higher whereas girls hold more capital in their accounts. We note that activity interacts with both gender, age and capital, and is decisive in explaining financial behaviour, especially that of boys. We conclude that girls have a lower share of saving in direct-owned stock already before the age of one. This difference lingers throughout childhood and peaks for children aged 15-17. We discuss our findings applying structuration theory, differentiating between implicit and explicit parental impact prevailing among adolescents, and the definite caring regarding younger children. For policymakers and managers, awareness that gender differences regarding financial behaviour prevail is an important insight.

Keywords: saving; children; parents; gender; portfolio composition; activity; structuration theory

JEL-codes: D14; G11; G51

Language: English

48 pages, First version: November 15, 2023. Revised: September 19, 2024. Earlier revisions: November 15, 2023, January 25, 2024, January 25, 2024.

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