| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP5744 |
| DP5744 Firms Merge in Response to Constraints | |
| jan boone | |
| 发表日期 | 2006-07-17 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | We study the relation between cognitive ability and the decision to invest in stocks using the recent Survey of Health, Ageing and Retirement in Europe (SHARE). The survey has detailed data on wealth and portfolio composition of individuals aged 50+ in 11 European countries and three indicators of cognitive abilities: mathematical, verbal fluency, and recall skills. We find that the propensity to invest in stocks is strongly associated with cognitive abilities, for both direct stock market participation and indirect participation through mutual funds and investment accounts. We also find that stockholding increases with social interactions, intention to leave a bequest, and is negatively associated with health status. |
| 主题 | International Macroeconomics |
| 关键词 | Cognitive abilities Stockholding Portfolio choice |
| URL | https://cepr.org/publications/dp5744 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/534598 |
| 推荐引用方式 GB/T 7714 | jan boone. DP5744 Firms Merge in Response to Constraints. 2006. |
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