In this paper, we characterized the stock market participants at household level in South Korea. Amounts of financial assets including funds, stocks and bonds, on average, increase from young to middle and then declines until old. Male heads or households with a spouse hold financial assets more than their counterpart. Counterintuitively, households out of work, on average, own larger amounts of funds and stocks than those at work. In addition, households with a home hold greater mean amounts of funds than those without. Interestingly, we found that male heads not working with large income, real estate, and high education opt for stock market participation. In asimilar vein, large income and real estate together with high educational attainment force households to participate in fund markets, but, households with a spouse and large financial debts are less likely compared to those without spouse.
Key Words: stock/ fund market participation, household characteristics
[2013년 제 2차] Which Households hold Financial Assets?
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2013-06-05
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