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IQ and stock market participation

Stock market participation is monotonically related to IQ, controlling for wealth, income, age, and other demographic and occupational information. The high correlation between IQ and participation exists even among the affluent. Supplemental data from siblings, studied with an instrumental variables approach and regressions that control for family effects, demonstrate that IQ's influence on participation extends to females and does not arise from omitted familial and nonfamilial variables. High-IQ investors are more likely to hold mutual funds and larger numbers of stocks, experience lower risk, and earn higher Sharpe ratios. We discuss implications for policy and finance research..Printed journal

Ketersediaan

Call NumberLocationAvailable
JOF6606PSB lt.dasar - Pascasarjana1
Penerbit Wiley Periodicals.,
Edisi -
Subjek Investments
Risk
Securities
Mutual funds
Cognitive Ability
Participation
Behavioral Economics
Rate of return
Stocks (finance)
Individual investors
Intelligence levels
ISBN/ISSN 221082
Klasifikasi -
Deskripsi Fisik -
Info Detail Spesifik -
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