All their eggs in one basket : portfolio diversification of US households

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dc.contributor.author Kelly, Morgan
dc.date.accessioned 2008-08-29T09:06:44Z
dc.date.available 2008-08-29T09:06:44Z
dc.date.copyright Copyright 1995 Elsevier Science B.V. en
dc.date.issued 1995-06
dc.identifier.citation Journal of Economic Behavior and Organization en
dc.identifier.issn 0167-2681
dc.identifier.uri http://hdl.handle.net/10197/519
dc.description.abstract This paper uses data from the Survey of Consumer Finances to assess how well mean-variance efficiency describes the portfolio diversification of US households. It does not seem to work well. The median stockholder owns a single publicly traded stock, often in the company where he works. Looking at a sample of high income households who accounted for one third of all publicly traded stock, the median holding is only ten stocks. Indirect stock ownership through mutual funds, defined contribution pension plans, IRA's and trust funds is shown to have little power in explaining this poor diversification. en
dc.format.extent 4304 bytes
dc.format.mimetype application/pdf
dc.language.iso en en
dc.publisher Elsevier Science B.V. en
dc.rights All rights reserved en
dc.rights.uri Publisher's copyright policy en
dc.rights.uri http://www.elsevier.com/wps/find/authorsview.authors/copyright#whatrights en
dc.subject Portfolio diversification en
dc.subject.classification G11 en
dc.subject.classification G14 en
dc.subject.lcsh Portfolio management--United States en
dc.subject.lcsh Finance, Personal--United States en
dc.subject.lcsh Individual investors--United States en
dc.title All their eggs in one basket : portfolio diversification of US households en
dc.type Journal Article en
dc.internal.authorurl Morgan Kelly (web page) en
dc.internal.authorurl http://www.ucd.ie/economics/staff/mkelly/morgan.kelly.htm en
dc.internal.authorcontactother Email: morgan.kelly@ucd.ie; Tel: 353 1 716 8611 en
dc.internal.authorid UCD0013 en
dc.internal.availability Full text not available en
dc.internal.webversions Publisher's version en
dc.internal.webversions http://dx.doi.org/10.1016/0167-2681(95)00006-E en
dc.status Peer reviewed en
dc.identifier.volume 27 en
dc.identifier.issue 1 en
dc.identifier.startpage 87 en
dc.identifier.endpage 96 en
dc.identifier.doi 10.1016/0167-2681(95)00006-E
dc.neeo.contributor Kelly|Morgan|aut|UCD0013


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