کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
982271 | 1480465 | 2010 | 9 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The effect of capital wealth on optimal diversification: Evidence from the Survey of Consumer Finances
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
It is well known that the wealthier the household, the larger tends to be the proportion of its total capital portfolio allocated to publicly traded stock, and the larger tends to be the number of individual stock issues included in its portfolio. Using the “homogeneous securities” case of a mean-variance model originally proposed by Michael Brennan, explicit functional forms are obtained for both the optimal proportion of the portfolio allocated to stocks and the optimal number of individual stock issues in the portfolio. An empirical evaluation of these theoretical results, using a dataset derived from the 2004 Survey of Consumer Finances, lends substantial support to the model.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: The Quarterly Review of Economics and Finance - Volume 50, Issue 1, February 2010, Pages 90–98
Journal: The Quarterly Review of Economics and Finance - Volume 50, Issue 1, February 2010, Pages 90–98
نویسندگان
James A. Yunker, Alla A. Melkumian,