Portfolios of the Rich

By Christopher D. Carroll. 2000

281 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/f22bd20fb2791a1c2f02c9d11352870771c900c1

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Citations in the corpus

Fight or Flight? Portfolio Rebalancing by Individual Investors (2009, unknown): “Carroll (2000, 2002) builds such a utility function, and documents a positive empirical relation between household wealth and the risky share.”
Equity Portfolio Diversification (2001, unknown): “For instance, less diversified investors might " gamble " with high skewness stocks (e.g., Mitton and Vorkink, 2007; Kumar, 2007) or they might be driven by other motives such as bequest (e.g., Carroll, 2002).”
Heterogeneity and Persistence in Returns to Wealth (2018, unknown): “Also as expected, this shows that there is much more risk involved in holding private business wealth (see among others, Carroll (2000), Vissing-Jorgensen and Moskowitz (2002) and Kartashova (2014)).”
Why Do Household Portfolio Shares Rise in Wealth (2010, unknown): “Our work is also related to that of Carroll (2000, 2002), who proposes a model in which wealth at the end of life is a luxury good.”
The Redistributive Design of Social Security Systems (2007, methodology): “9% in the top 5% (Carroll, 2002; Solmon, 1975). This different composition of the savings portfolio leads to different returns, since historically risky assets have been associated with higher private returns.(19) A similar relation between the wealth level and the asset composition of the portfolio”
Twin Picks: Disentangling the Determinants of Risk-Taking in Household Portfolios (2013, unknown): “As in Carroll (2002), the risky share is substantially larger for households with high financial wealth, which is by far the most significant regressor.”
The determinants of household risky asset holdings: Australian evidence on background risk and other factors (2009, background): “…inconsistent with the typical view and financial advice that households rotate out of risky assets as they approach retirement age (see, for example Carroll, 2002), though it is consistent with the growth in knowledge of the investment landscape and opportunities that comes with age, as posited by…”
Homegrown Solutions: Fostering Cluster Formation (2004, background): “Carroll (2002) and Hurst and Lusardi (2002) found that the entrepreneurial decision is correlated with the receipt of an inheritance or some economic windfall.1 Feldman (2001) found that entrepreneurship might also be motivated by a decrease in job security or career advancement possibilities.”
Chapter 21 - Household Finance: An Emerging Field∗ (2013, unknown): “Calvet and Sodini (in press) document the same result on Swedish data, and argue that habit has a causal effect on the risky share by using twin regressions.”
Diversification and Its Discontents: Idiosyncratic and Entrepreneurial Risk in the Quest for Social Status (2010, unknown): “This interpretation is consistent with the notion of status-driven wealth accumulation, as it can rationalize bequests to charities and large estates left by people with no heirs (see the discussion in Carroll (2000)).”