Article ID | Journal | Published Year | Pages | File Type |
---|---|---|---|---|
10475873 | Journal of Financial Economics | 2012 | 18 Pages |
Abstract
⸠Good portfolio returns by local peers make new investors enter the stock market. ⸠The effect is stronger in areas with better opportunities for social learning. ⸠The effect is asymmetric-inferior peer returns do not reduce entry. ⸠Extrapolation from others' success and selective communication are likely causes.
Keywords
Related Topics
Social Sciences and Humanities
Business, Management and Accounting
Accounting
Authors
Markku Kaustia, Samuli Knüpfer,