| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24898 |
| 来源ID | Working Paper 24898 |
| Do the Rich Get Richer in the Stock Market? Evidence from India | |
| John Y. Campbell; Tarun Ramadorai; Benjamin Ranish | |
| 发表日期 | 2018-08-13 |
| 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 ; Portfolio Selection and Asset Pricing ; Behavioral Finance |
| URL | https://www.nber.org/papers/w24898 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582572 |
| 推荐引用方式 GB/T 7714 | John Y. Campbell,Tarun Ramadorai,Benjamin Ranish. Do the Rich Get Richer in the Stock Market? Evidence from India. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24898.pdf（365KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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