Information Sharing and Stock Market Participation: Evidence from Extended Families
By Geng Li. Review of Economics and Statistics, 2009
132 citations recorded by the source corpus.
Abstract Using the Panel Study of Income Dynamics, we document that controlling for observable characteristics, household investors' likelihood of entering the stock market within the ensuing five years is about 20% to 30% higher if their parents or children had entered the stock market during the previous five years. By eliminating competing hypotheses such as preference similarity and herding, we argue that these findings highlight the significance of information sharing regarding household financial decisions.
Subfields: Accounting, Economics and Econometrics
View Paper: https://www.semanticscholar.org/paper/245e6fd3322fa250b5f2f4179cf5708385310135
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Citations in the corpus
- Numeracy, financial literacy, and financial decision-making (2012, unknown): “In other words, financial literacy may start in the family, perhaps by observing parents’ saving and investing habits or by receiving financial education directly from parents (see also Cude et al. 2006; Chiteji and Stafford 1999; Li 2009).”
- Financial Literacy Among Working Young in Urban India (2013, methodology): “Several studies have attempted to examine the level of financial literacy in India. Most of them report that the level of financial literacy in India is poor. For instance, the VISA (2012) study ranked India at the 23rd position among the 28 countries surveyed.”
- The Economic Importance of Financial Literacy: Theory and Evidence (2014, unknown): “36 See for instance Ameriks, Caplin, and Leahy (2003); van Rooij, Lusardi, and Alessie (2012); and Lusardi and Mitchell (2007a, b; 2009).”