Neighbors Matter: Causal Community Effects and Stock Market Participation

By Jeffrey R. Brown, Zoran Ivković, Paul A. Smith, Scott J. Weisbenner. 2008

698 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/66d126374fd9b9564fad6723677a370f1e86ce41

How researchers see this paper

The researchers whose trusted networks rank it highest, strongest advocate first. Every researcher gets a different order.

In Accounting

In Economics and Econometrics

In Finance

Citations in the corpus

Game On: Social Networks and Markets (2021, background): “8 Brunnermeier and Nagel (2004) provide evidence that hedge funds initially rode the internet bubble and eventually reduced or reversed their positions, just like the short-term investors in my model. 9 Kindleberger (2000) p.17. 10 Tirole (1982) shows that bubbles cannot exist in many situations in ”
Financial literacy and its consequences: Evidence from Russia during the financial crisis (2013, background): “Several other studies have documented that individuals learn about financial matters from peers (Duflo and Saez, 2003; Hong et al., 2004; and Brown et al., 2008).”
A Comparison of CEO Pay-Performance Sensitivity in Privately-Held and Public Firms (2015, background): “Due to this home bias, households participate more in the stock market if there are a large number of local public firms (Brown et al. (2008)).”
Peer performance and stock market entry (2012, positive): “Hong, Kubik, and Stein (2004) and Brown et al. (2008) provide evidence consistent with the notion that individuals are more likely to participate in the stock market when 6 This asymmetry does not appear to be driven by short-sales restrictions that make it difficult for prospective new investors…”
Investing in Peace: The Motivational Dynamics of Diaspora Investment in Post-Conflict Economies (2009, background): “An investor’s social network has been acknowledged as an important source of information that may impact the investment decision-making process (e.g., Brown et al., 2008; Malloy, 2005).”
Household Debt and Social Interactions (2012, background): “5 See also Brown et al. (2008) and Georgarakos and Pasini (2011).”
Social Transmission Bias and Investor Behavior (2021, neutral): “In Brunnermeier and Parker (2005), agents who optimize over beliefs prefer skewed payoff distributions.”
Information Sharing and Stock Market Participation: Evidence from Extended Families (2009, positive): “However, the sequential correlation we find implies that the entry of one family member will positively affect the entry decision of another member at a very different stage of the life cycle.(6) Second, our analysis explicitly takes into account the time needed for knowledge and information regardi”