From academic abilities to occupation: What drives stock market participation?

Tarvo Vaarmets, Kristjan Liivamägi and Tõnn Talpsepp

Emerging Markets Review, 2019, vol. 39, issue C, 83-100

Abstract: We study how academic abilities along with education and occupation influence stock market participation. Combining five data sets from Estonia for a sample of over 200,000 individuals allows the effect to be observed in the finest detail available. We find that women are clearly less persuaded by their mental abilities to participate in the stock market than men are. Economic activity, occupation and religion affect stock market participation, and stock market investors tend to be more ambitious, more prone to risk and more intelligent than non-participants.

Keywords: Stock market participation; Education; Cognitive abilities; Non-cognitive abilities; Gender effects (search for similar items in EconPapers)
JEL-codes: G02 G11 I22 J24 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:39:y:2019:i:c:p:83-100

DOI: 10.1016/j.ememar.2019.04.004

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