메뉴 건너뛰기




Volumn 63, Issue 3, 2008, Pages 1509-1531

Neighbors Matter: Causal Community Effects and Stock Market Participation

Author keywords

[No Author keywords available]

Indexed keywords


EID: 43649091935     PISSN: 00221082     EISSN: 15406261     Source Type: Journal    
DOI: 10.1111/j.1540-6261.2008.01364.x     Document Type: Article
Times cited : (491)

References (34)
  • 1
    • 0039782101 scopus 로고    scopus 로고
    • The effects of investing Social Security funds in the stock market when fixed costs prevent some households from holding stocks
    • Abel, Andrew B., 2001, The effects of investing Social Security funds in the stock market when fixed costs prevent some households from holding stocks, American Economic Review 91, 128-148.
    • (2001) American Economic Review , vol.91 , pp. 128-148
    • Abel, A.B.1
  • 2
    • 1342300176 scopus 로고    scopus 로고
    • Recent changes in U.S. family finances: Evidence from the 1998 and 2001 Survey of Consumer Finances
    • Aizcorbe, Ana, Arthur Kennickell, and Kevin Moore, 2003, Recent changes in U.S. family finances: Evidence from the 1998 and 2001 Survey of Consumer Finances, Federal Reserve Bulletin 90, 1-32.
    • (2003) Federal Reserve Bulletin , vol.90 , pp. 1-32
    • Aizcorbe, A.1    Kennickell, A.2    Moore, K.3
  • 3
    • 2942748499 scopus 로고    scopus 로고
    • What explains early withdrawals from retirement accounts? Evidence from a panel of taxpayers
    • Amromin, Gene, and Paul Smith, 2003, What explains early withdrawals from retirement accounts? Evidence from a panel of taxpayers, National Tax Journal 56, 595-612.
    • (2003) National Tax Journal , vol.56 , pp. 595-612
    • Amromin, G.1    Smith, P.2
  • 4
    • 84960565609 scopus 로고
    • A simple model of herd behavior
    • Banerjee, Abhijit, 1992, A simple model of herd behavior, Quarterly Journal of Economics 107, 797-817.
    • (1992) Quarterly Journal of Economics , vol.107 , pp. 797-817
    • Banerjee, A.1
  • 6
    • 27744568768 scopus 로고
    • A theory of fads, fashion, custom, and cultural change as informational cascades
    • Bikhchandani, Sushil, David Hirshleifer, and Ivo Welch, 1992, A theory of fads, fashion, custom, and cultural change as informational cascades, Journal of Political Economy 100, 992-1026.
    • (1992) Journal of Political Economy , vol.100 , pp. 992-1026
    • Bikhchandani, S.1    Hirshleifer, D.2    Welch, I.3
  • 7
    • 0036693732 scopus 로고    scopus 로고
    • Asset pricing with heterogeneous consumers and limited participation: Empirical evidence
    • Brav, Alon, George M. Constantinides, and Christopher C. Geczy, 2002, Asset pricing with heterogeneous consumers and limited participation: Empirical evidence, Journal of Political Economy 110, 793-824.
    • (2002) Journal of Political Economy , vol.110 , pp. 793-824
    • Brav, A.1    Constantinides, G.M.2    Geczy, C.C.3
  • 8
    • 0032771542 scopus 로고    scopus 로고
    • By force of habit: A consumption-based explanation of aggregate stock market behavior
    • Campbell, John Y., and John H. Cochrane, 1999, By force of habit: A consumption-based explanation of aggregate stock market behavior, Journal of Political Economy 110, 205-251.
    • (1999) Journal of Political Economy , vol.110 , pp. 205-251
    • Campbell, J.Y.1    Cochrane, J.H.2
  • 9
    • 0007884883 scopus 로고    scopus 로고
    • Home bias at home: Local equity preference in domestic portfolios
    • Coval, Joshua D., and Tobias J. Moskowitz, 1999, Home bias at home: Local equity preference in domestic portfolios, Journal of Finance 54, 1-39.
    • (1999) Journal of Finance , vol.54 , pp. 1-39
    • Coval, J.D.1    Moskowitz, T.J.2
  • 10
    • 0034861189 scopus 로고    scopus 로고
    • The geography of investment: Informed trading and asset prices
    • Coval, Joshua D., and Tobias J. Moskowitz, 2001, The geography of investment: Informed trading and asset prices, Journal of Political Economy 109, 811-841.
    • (2001) Journal of Political Economy , vol.109 , pp. 811-841
    • Coval, J.D.1    Moskowitz, T.J.2
  • 11
    • 4344713175 scopus 로고    scopus 로고
    • Diversification as a public good: Community effects in portfolio choice
    • DeMarzo, Peter M., Ron Kaniel, and Ilan Kremer, 2004, Diversification as a public good: Community effects in portfolio choice, Journal of Finance 59, 1677-1715.
    • (2004) Journal of Finance , vol.59 , pp. 1677-1715
    • DeMarzo, P.M.1    Kaniel, R.2    Kremer, I.3
  • 12
    • 84927019269 scopus 로고    scopus 로고
    • Taxation and the evolution of aggregate corporate ownership concentration
    • Alan Auerbach, James R. Hines Jr., and Joel Slemrod, eds.: (Cambridge University Press, New York )
    • Desai, Mihir A., Dhammika Dharmapala, and Winnie Fung, 2007, Taxation and the evolution of aggregate corporate ownership concentration, in Alan Auerbach, James R. Hines Jr., and Joel Slemrod, eds.: Taxing Corporate Income in the 21st Century (Cambridge University Press, New York ) 345-383.
    • (2007) Taxing Corporate Income in the 21st Century , pp. 345-383
    • Desai, M.A.1    Dharmapala, D.2    Fung, W.3
  • 13
    • 3042529885 scopus 로고    scopus 로고
    • Social Security investment in equities
    • Diamond, Peter, and John Geanakoplos, 2003, Social Security investment in equities, American Economic Review 93, 1047-1074.
    • (2003) American Economic Review , vol.93 , pp. 1047-1074
    • Diamond, P.1    Geanakoplos, J.2
  • 15
    • 34247616236 scopus 로고
    • Word of mouth communication and social learning
    • Ellison, Glenn, and Drew Fudenberg, 1995, Word of mouth communication and social learning, Quarterly Journal of Economics 110, 93-125.
    • (1995) Quarterly Journal of Economics , vol.110 , pp. 93-125
    • Ellison, G.1    Fudenberg, D.2
  • 16
    • 6344285030 scopus 로고    scopus 로고
    • Correlated trading and location
    • Feng, Lei, and M. Seasholes, 2004, Correlated trading and location, Journal of Finance 59, 2117-2144.
    • (2004) Journal of Finance , vol.59 , pp. 2117-2144
    • Feng, L.1    Seasholes, M.2
  • 17
    • 33748927586 scopus 로고    scopus 로고
    • Religious market structure, religious participation, and outcomes: Is religion good for you?
    • Advances in Economic Analysis and Policy 5:1, Article 5.
    • Gruber, Jonathan, 2005, Religious market structure, religious participation, and outcomes: Is religion good for you? Advances in Economic Analysis and Policy 5:1, Article 5. Available at http://www.bepress.com/bejeap/advances/vol5/iss1/art5.
    • (2005)
    • Gruber, J.1
  • 18
    • 4043153533 scopus 로고    scopus 로고
    • The role of social capital in financial development
    • Guiso, Luigi, Paola Sapienza, and Luigi Zingales, 2004, The role of social capital in financial development, American Economic Review 94, 526-556.
    • (2004) American Economic Review , vol.94 , pp. 526-556
    • Guiso, L.1    Sapienza, P.2    Zingales, L.3
  • 19
    • 0043137717 scopus 로고    scopus 로고
    • Stock prices and fundamentals
    • Ben S. Bernanke and Julio Rotenberg, eds., MIT Press, Cambridge, MA )
    • Heaton, John, and Deborah Lucas, 2000, Stock prices and fundamentals, in Ben S. Bernanke and Julio Rotenberg, eds.: NBER Macroeconomics Annual 1999, 14, 213-242. (MIT Press, Cambridge, MA ).
    • (2000) NBER Macroeconomics Annual 1999 , vol.14 , pp. 213-242
    • Heaton, J.1    Lucas, D.2
  • 20
    • 1642371058 scopus 로고    scopus 로고
    • Social interaction and stock-market participation
    • Hong, Harrison, Jeffrey D. Kubik, and Jeremy C. Stein, 2004, Social interaction and stock-market participation, Journal of Finance 59, 137-163.
    • (2004) Journal of Finance , vol.59 , pp. 137-163
    • Hong, H.1    Kubik, J.D.2    Stein, J.C.3
  • 21
    • 4344586192 scopus 로고    scopus 로고
    • The power of peers: How does the makeup of a classroom influence achievement
    • Summer 2002)
    • Hoxby, Caroline, 2002, The power of peers: How does the makeup of a classroom influence achievement, Education Next 2:2 (Summer 2002), 1-7. Available at http://media.hoover.org/documents/ednext20022-56.pdf
    • (2002) Education Next , vol.2 , Issue.2 , pp. 1-7
    • Hoxby, C.1
  • 22
    • 12344320638 scopus 로고    scopus 로고
    • Local does as local is: Information content of the geography of individual investors' common stock investments
    • Ivković, Zoran, and Scott Weisbenner, 2005, Local does as local is: Information content of the geography of individual investors' common stock investments, Journal of Finance 60, 267-306.
    • (2005) Journal of Finance , vol.60 , pp. 267-306
    • Ivković, Z.1    Weisbenner, S.2
  • 23
    • 84942859662 scopus 로고    scopus 로고
    • John Hancock Financial Services
    • The ninth defined contribution plan survey, Newsroom, 24 May, 2004
    • John Hancock Financial Services, 2004, The ninth defined contribution plan survey, http://www.jhancock.com, Newsroom, 24 May, 2004.
    • (2004)
  • 24
    • 0002874783 scopus 로고
    • The consumption of stockholders and nonstockholders
    • Mankiw, N. Gregory, and Stephen P. Zeldes, 1991, The consumption of stockholders and nonstockholders, Journal of Financial Economics 29, 97-112.
    • (1991) Journal of Financial Economics , vol.29 , pp. 97-112
    • Mankiw, N.G.1    Zeldes, S.P.2
  • 25
    • 84960575613 scopus 로고
    • Identification of exogenous social effects: The reflection problem
    • Manski, Charles F., 1993, Identification of exogenous social effects: The reflection problem, Review of Economic Studies 60, 531-542.
    • (1993) Review of Economic Studies , vol.60 , pp. 531-542
    • Manski, C.F.1
  • 27
    • 33645740842 scopus 로고    scopus 로고
    • Hedging, familiarity and portfolio choice
    • Massa, Massimo, and Andrei Simonov, 2006, Hedging, familiarity and portfolio choice, Review of Financial Studies 19, 633-685.
    • (2006) Review of Financial Studies , vol.19 , pp. 633-685
    • Massa, M.1    Simonov, A.2
  • 28
    • 84963022377 scopus 로고
    • The diffusion of stock ownership in the United States
    • Means, Gardiner C., 1930, The diffusion of stock ownership in the United States, Quarterly Journal of Economics 44, 561-600.
    • (1930) Quarterly Journal of Economics , vol.44 , pp. 561-600
    • Means, G.C.1
  • 29
    • 33749604891 scopus 로고    scopus 로고
    • Estimating standard errors in finance panel data sets: Comparing approaches
    • Working paper, Northwestern University
    • Peterson, Mitchell A., 2007, Estimating standard errors in finance panel data sets: Comparing approaches, Working paper, Northwestern University .
    • (2007)
    • Peterson, M.A.1
  • 31
    • 0002745670 scopus 로고
    • Regression standard errors in clustered samples
    • Rogers, William, 1993, Regression standard errors in clustered samples, Stata Technical Bulletin 13, 19-23.
    • (1993) Stata Technical Bulletin , vol.13 , pp. 19-23
    • Rogers, W.1
  • 32
    • 0005508977 scopus 로고    scopus 로고
    • Peer effects with random assignments: Results for Dartmouth roommates
    • Sacerdote, Bruce, 2001, Peer effects with random assignments: Results for Dartmouth roommates, Quarterly Journal of Economics 96, 681-704.
    • (2001) Quarterly Journal of Economics , vol.96 , pp. 681-704
    • Sacerdote, B.1
  • 33
    • 0346307687 scopus 로고    scopus 로고
    • Instrumental variables regression with weak instruments
    • Staiger, Douglas, and James H. Stock, 1997, Instrumental variables regression with weak instruments, Econometrica 65, 557-586.
    • (1997) Econometrica , vol.65 , pp. 557-586
    • Staiger, D.1    Stock, J.H.2
  • 34
    • 3242677008 scopus 로고    scopus 로고
    • Limited stock market participation and the equity premium puzzle
    • Working paper, University of Chicago
    • Vissing-Jorgensen, Annette, 1999, Limited stock market participation and the equity premium puzzle, Working paper, University of Chicago .
    • (1999)
    • Vissing-Jorgensen, A.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.