 IMMIGRANTS HAVE LOWER PARTICIPATION RATES IN U.S. FINANCIAL MARKETS?Swarn Chatterjee The International Journal of Business and Finance Research, 2009, vol. 3, issue 2, 1-13 Abstract: This paper uses data from the National Longitudinal Survey to examine the differences in individual financial market participation among native-born and immigrant Americans. The results indicate that when compared with natives, immigrants are less likely to own financial assets. A decomposition analysis of financial asset ownership reveals that income gap along with differences in educational attainment as well as the wealth and risk tolerance are the biggest contributors to this disparity. Additionally, income, wealth, inheritance, and educational attainment are positive predictors of financial market participation. Age, income, net worth and number of years of stay in the United States are positively associated with increase in financial wealth of immigrants across time. Keywords: Immigrants; Household finance; Investor behavior; Stock market participation (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ibf:ijbfre:v:3:y:2009:i:2:p:1-13 Access Statistics for this article The International Journal of Business and Finance Research is currently edited by Terrance Jalbert More articles in The International Journal of Business and Finance Research from The Institute for Business and Finance Research |
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