Do More Economists Hold Stocks?

Charlotte Christiansen, Juanna Schröter Joensen and Jesper Rangvid ()
Additional contact information
Jesper Rangvid: Department of Economics, University of Aarhus, Denmark, Postal: 8000 Aarhus C, Denmark

Economics Working Papers from Department of Economics and Business Economics, Aarhus University

Abstract: A unique data set enables us to test the hypothesis that more economists than otherwise identical investors hold stocks due to informational advantages. We confirm that economists have a significantly higher probability of participating in the stock market than investors with any other education, even when controlling for several background characteristics. We make use of a large register-based panel data set containing detailed information on the educational attainments and various financial and socioeconomic variables. We model the stock market participation decision by the probit model. The results are shown to be highly robust to various assumptions, including unobserved individual heterogeneity

Keywords: Investor Education; Portfolio Choice; Stock Market Participation (search for similar items in EconPapers)
JEL-codes: G11 I29 J24 (search for similar items in EconPapers)
Pages: 36
Date: 2005-04-08
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Downloads: (external link)
https://repec.econ.au.dk/repec/afn/wp/05/wp05_06.pdf (application/pdf)

Related works:
Working Paper: Do More Economists Hold Stocks? (2005)
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:aah:aarhec:2005-06

Access Statistics for this paper

More papers in Economics Working Papers from Department of Economics and Business Economics, Aarhus University
Bibliographic data for series maintained by ().