Determinants of Stock Market Participation Among Elderly U.S. Households with Internet Access
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2013
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Haverford College. Department of Economics
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Thesis
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Award
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eng
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Open Access
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Abstract
This study is an analysis of the determinants of stock market participation. It looks broadly at the literature concerning stock market participation determinants and limits it to the elderly population in the United States with Internet access. In addition, it looks in depth and differentiates between reduced participation costs and the accessibility of those costs by examining the specific financial activities conducted on the Internet by households. Through econometric analysis, the use of the Internet for financial market research leads to an increase in probability of stock market participation by 21.8% while the use of an online brokerage shows an increase in probability by 38.7%. And so, finance-oriented Internet usage is seen to be important due to the widespread availability of the Internet, rendering regular Internet use less meaningful in the context of stock market participation.