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Portfolio Choice and Asset Prices: The Importance of Entrepreneurial Risk

✍ Scribed by John Heaton; Deborah Lucas


Book ID
108502952
Publisher
John Wiley and Sons
Year
2000
Tongue
English
Weight
158 KB
Volume
55
Category
Article
ISSN
0022-1082

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Portfolio Choice and Asset Prices: The I
✍ John Heaton; Deborah Lucas πŸ“‚ Article πŸ“… 2000 πŸ› John Wiley and Sons 🌐 English βš– 158 KB

Using cross‐sectional data from the SCF and Tax Model, we show that entrepreneurial income risk has a significant influence on portfolio choice and asset prices. We find that households with high and variable business income hold less wealth in stocks than other similarly wealthy households, althoug