| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13116 |
| DP13116 Do the Rich Get Richer in the Stock Market? Evidence from India | |
| John Y Campbell; Benjamin Ranish | |
| 发表日期 | 2018-08-15 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We use data on Indian stock portfolios to show that return heterogeneity is the primary contributor to increasing inequality of wealth held in risky assets by Indian individual investors. Return heterogeneity increases equity wealth inequality through two main channels, both of which are related to the prevalence of undiversified accounts that own relatively few stocks. First, some undiversified portfolios randomly do well, while others randomly do poorly. Second, larger accounts diversify more effectively and thereby earn higher average log returns even though their average simple returns are no higher than those of smaller accounts. |
| 主题 | Financial Economics |
| 关键词 | Wealth inequality Equities Diversification India |
| URL | https://cepr.org/publications/dp13116 |
| 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/541919 |
| 推荐引用方式 GB/T 7714 | John Y Campbell,Benjamin Ranish. DP13116 Do the Rich Get Richer in the Stock Market? Evidence from India. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
