IQ and stock market participation

By Mark Grinblatt, Matti Keloharju, Juhani T. Linnainmaa. 2011

636 citations recorded by the source corpus.

Subfields: Accounting, Experimental and Cognitive Psychology

View Paper: https://www.semanticscholar.org/paper/4774da2dd3fd67543fe9006b4e0e3c4ec66f4da2

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In Accounting

In Experimental and Cognitive Psychology

Citations in the corpus

The psychometric and empirical properties of measures of risk preferences (2017, neutral): “The association between IQ and risk attitudes is also consistent with the recent findings of Grinblatt et al. (2011), who found that stock market participation increases with higher IQ.”
The Economic Importance of Financial Literacy: Theory and Evidence (2014, neutral): “For example, unobservables such as discount rates (Meier and Sprenger 2008), IQ (Grinblatt, Keloharju, and Linnainmaa 2011), or cognitive abilities could influence saving decisions and portfolio choice (Delavande, Rohwedder, and Willis 2008; Korniotis and Kumar 2011).”
Retail Financial Advice: Does One Size Fit All? (2015, positive): “11The finding that individuals in the finance industry hold more equities is, however, consistent with evidence from Christiansen, Joensen, and Rangvid (2008) and Grinblatt, Keloharju, and Linnainmaa (2011).”
Hybrid support vector machine rule extraction method for discovering the preferences of stock market investors: Evidence from Montenegro (2015, methodology): “For example, Grinblatt and Keloharju (2009), and Grinblatt, Keloharju, and Linnainmaa (2011), show that sensation seeking, overconfidence and IQ affect stock market participation, using data from the Finnish registry.”
Participation Constraints in the Stock Market: Evidence from Unexpected Inheritance Due to Sudden Death (2011, neutral): “More recently, Christelis, Jappelli, and Padula (2009), and Grinblatt, Keloharju, and Linnainmaa (2009) have documented a positive relation between participation and intelligence.”
Risk Tolerance and Entrepreneurship (2013, background): “In unreported regressions, we find that IQ has explanatory power for stock market participation (see Grinblatt et al., 2011, for a similar result), but no explanatory power on entrepreneurial entry, or on performance.”
The Genetics of Investment Biases (2014, background): “At the same time, they likely have superior cognitive abilities which have also been shown to lower investment biases (Grinblatt, Keloharju, and Linnainmaa, 2011, 2012).”
Learning to Take Risks? The Effect of Education on Risk-Taking in Financial Markets (2018, neutral): “…administrative data that includes information on the wealth portfolios of the population of Sweden in 2000, we can 1 Christelis et al. (2010) and Grinblatt et al. (2011)…”
Risk aversion relates to cognitive ability: Preferences or Noise? (2016, background): “Grinblatt et al. (2011) find that individuals with high cognitive ability hold portfolios that tend to be less risky.”
Gender, Stock Market Participation and Financial Literacy (2015, neutral): “…non-participation even among households that can afford to save, including cognitive ability (e.g., Benjamin et al. 2006, Kezdi and Willis 2006, Grinblatt et al. 2011), fixed participation costs (e.g., Haliassos and Bertaut 1995, Vissing-Jørgensen 2003), lack of stock market awareness or…”