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Institutional Quality, Trust, and Stock Market Participation: Learning to Forget

Asgharian, Hossein LU ; Liu, Lu and Lundtofte, Frederik LU (2023) In Quarterly Journal of Finance
Abstract
We explore the relations among institutional quality, households’ level of trust, and stock market participation. We find that institutional quality has a significant impact on both trust and participation. The individual level of trust significantly affects participation, but trust plays a small role in the effect of institutional quality on participation. Further, we demonstrate that immigrants are affected by the institutional quality of both their country of residence and their home country, and that education emerges as an important learning factor in immigrants’ adaptation to new institutional environments.
Please use this url to cite or link to this publication:
author
; and
organization
publishing date
type
Contribution to journal
publication status
epub
subject
in
Quarterly Journal of Finance
publisher
World Scientific Publishing
external identifiers
  • scopus:85181916980
ISSN
2010-1392
DOI
10.1142/S2010139224500022
language
English
LU publication?
yes
id
41c8dde5-900c-4d64-bb38-adbb46262fbd
date added to LUP
2023-11-09 16:20:31
date last changed
2024-02-13 11:37:47
@article{41c8dde5-900c-4d64-bb38-adbb46262fbd,
  abstract     = {{We explore the relations among institutional quality, households’ level of trust, and stock market participation. We find that institutional quality has a significant impact on both trust and participation. The individual level of trust significantly affects participation, but trust plays a small role in the effect of institutional quality on participation. Further, we demonstrate that immigrants are affected by the institutional quality of both their country of residence and their home country, and that education emerges as an important learning factor in immigrants’ adaptation to new institutional environments.}},
  author       = {{Asgharian, Hossein and Liu, Lu and Lundtofte, Frederik}},
  issn         = {{2010-1392}},
  language     = {{eng}},
  month        = {{11}},
  publisher    = {{World Scientific Publishing}},
  series       = {{Quarterly Journal of Finance}},
  title        = {{Institutional Quality, Trust, and Stock Market Participation: Learning to Forget}},
  url          = {{http://dx.doi.org/10.1142/S2010139224500022}},
  doi          = {{10.1142/S2010139224500022}},
  year         = {{2023}},
}