Awareness and stock market participation

  • The paper documents lack of awareness of financial assets in the 1995 and 1998 Bank of Italy Surveys of Household Income and Wealth. It then explores the determinants of awareness, and finds that the probability that survey respondents are aware of stocks, mutual funds and investment accounts is positively correlated with education, household resources, long-term bank relations and proxies for social interaction. Lack of financial awareness has important implications for understanding the stockholding puzzle and for estimating stock market participation costs. Klassifikation: E2, D8, G1

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Metadaten
Author:Luigi Guiso, Tullio JappelliORCiDGND
URN:urn:nbn:de:hebis:30-23410
Parent Title (German):Center for Financial Studies (Frankfurt am Main): CFS working paper series ; No. 2005,29
Series (Serial Number):CFS working paper series (2005, 29)
Document Type:Working Paper
Language:English
Year of Completion:2005
Year of first Publication:2005
Publishing Institution:Universit├Ątsbibliothek Johann Christian Senckenberg
Release Date:2005/12/20
Tag:Financial Information; Portfolio Choice
GND Keyword:Haushalt; Einkommen; Wohlstand; Portfoliomanagement; Geschichte 1995; Geschichte 1998
HeBIS-PPN:195627377
Institutes:Wissenschaftliche Zentren und koordinierte Programme / Center for Financial Studies (CFS)
Dewey Decimal Classification:3 Sozialwissenschaften / 33 Wirtschaft / 330 Wirtschaft
Licence (German):License LogoDeutsches Urheberrecht