Ambiguity aversion and stock market participation: An empirical analysis

Theoretical models of portfolio choice that incorporate ambiguity predict that investors’ propensity to invest in equities is reduced when ambiguity in the stock market increases. Although this hypothesis stems from the extant theoretical literature, there is no empirical work examining whether it i...

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Veröffentlicht in:	Journal of banking & finance 2015-09, Vol.58, p.57-70
Hauptverfasser:	Antoniou, Constantinos, Harris, Richard D.F., Zhang, Ruogu
Format:	Artikel
Sprache:	eng
Schlagworte:	Ambiguity Ambiguity aversion Equity Equity funds Fund flows Households Hypotheses Investment Investors Risk aversion Securities markets Stock exchange Stock market participation Studies
Online-Zugang:	Volltext
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