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Cited by 1,823

The DOI matches its Crossref record; 2 of the 2 references it cites were found in a registry or an index.

Social Interaction and Stock‐Market Participation

Hong, Harrison, Kubik, Jeffrey D., Stein, Jeremy C.·2004·The Journal of Finance
DOI 10.1111/j.1540-6261.2004.00629.x
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Abstract

We propose that stock‐market participation is influenced by social interaction. In our model, any given “social” investor finds the market more attractive when more of his peers participate. We test this theory using data from the Health and Retirement Study, and find that social households—those who interact with their neighbors, or attend church—are substantially more likely to invest in the market than non‐social households, controlling for wealth, race, education, and risk tolerance. Moreover, consistent with a peer‐effects story, the impact of sociability is stronger in states where stock‐market participation rates are higher.

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Metadata

Authors
Hong, H., Kubik, J. D., & Stein, J. C.
Venue
The Journal of Finance
Publisher
Wiley
Published
2004-02
Volume
59
Issue
1
Pages
137-163
ISSN
  • 0022-1082 (ISSN-L)
  • 1540-6261
DOI
10.1111/j.1540-6261.2004.00629.x
OpenAlex
W3123675459
Cited by
1,823
References
2
FWCI
147.17
Type
journal article
Language
en
Open access
closed

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Bibliographic data: Semantic Scholar, OpenAlex, Crossref.

Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).

Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.