EconPapers    
Economics at your fingertips  
 

Is stock investment contagious among siblings?

Kiichi Tokuoka ()

Empirical Economics, 2017, vol. 52, issue 4, No 15, 1505-1528

Abstract: Abstract A household may learn the importance of stock investment from its siblings. Using the logit and probit models, this paper tests empirically the learning hypothesis that a household is more likely to purchase stocks if its siblings have bought stocks, and finds evidence for the hypothesis. The estimates obtained in the analysis imply that a household’s probability of stock purchases increases by about 1–3 % points if a sibling has purchased stocks. The positive results are not due to alternative explanations, such as uncontrolled correlation of age effects, financial support from siblings, common shocks, or other unobservable correlations. Moreover, the analysis does not support the objection that the positive results may be due to the effects of genes or common parenting.

Keywords: Learning; Siblings; Stock investment (search for similar items in EconPapers)
JEL-codes: D83 G11 (search for similar items in EconPapers)
Date: 2017
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://link.springer.com/10.1007/s00181-016-1120-6 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:empeco:v:52:y:2017:i:4:d:10.1007_s00181-016-1120-6

Ordering information: This journal article can be ordered from
http://www.springer. ... rics/journal/181/PS2

DOI: 10.1007/s00181-016-1120-6

Access Statistics for this article

Empirical Economics is currently edited by Robert M. Kunst, Arthur H.O. van Soest, Bertrand Candelon, Subal C. Kumbhakar and Joakim Westerlund

More articles in Empirical Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2022-12-20
Handle: RePEc:spr:empeco:v:52:y:2017:i:4:d:10.1007_s00181-016-1120-6