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Hossein Asgharian. Photo.

Hossein Asgharian

Professor

Hossein Asgharian. Photo.

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

Author

  • Hossein Asgharian
  • Lu Liu
  • Frederik Lundtofte

Summary, in English

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.

Department/s

  • Department of Economics

Publishing year

2023-11-09

Language

English

Publication/Series

Quarterly Journal of Finance

Document type

Journal article

Publisher

World Scientific Publishing

Topic

  • Economics

Status

Epub

ISBN/ISSN/Other

  • ISSN: 2010-1392