Awareness and stock market participation

Arbeitspapier

The paper documents lack of awareness of financial assets in the 1995 and 1998 Bank of Italy Surveys of Household Income and Wealth. It then explores the determinants of awareness, and finds that the probability that survey respondents are aware of stocks, mutual funds and investment accounts is positively correlated with education, household resources, long-term bank relations and proxies for social interaction. Lack of financial awareness has important implications for understanding the stockholding puzzle and for estimating stock market participation costs.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: CFS Working Paper ; No. 2005/29

Classification and Topics

• Classification: Wirtschaft
• Subject: Financial Information ; Portfolio Choice ; Anlageverhalten ; Portfolio-Management ; Asymmetrische Information ; Italien

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Guiso, Luigi ; Jappelli, Tullio
• Event: Veröffentlichung
• (who): Goethe University Frankfurt, Center for Financial Studies (CFS)
• (where): Frankfurt a. M.
• (when): 2005

Further information

• Handle: http://hdl.handle.net/10419/25424
• URN: urn:nbn:de:hebis:30-23410
• Last update: 10.03.2025, 11:42 AM CET