Determinants of Family Bond and Stock Holdings

FINANCIAL COUNSELING AND PLANNING, Vol. 6, 1995

Posted: 7 Feb 1996

See all articles by Lucy X. Zhong

Lucy X. Zhong

Nations Bank Card Services

Jing Jian Xiao

University of Rhode Island

Abstract

Determinants of owning individual bonds and stocks were studied, using the 1989 Survey of Consumer Finances. Tobit analyses showed bonds and stocks were more likely to be held by families with adequate financial resources to maintain daily lives and enough funds to meet short term financial needs. Households having a planning horizon of at least 10 years had higher amounts of bonds and stocks. Reporting a saving motive of "growth" was associated with higher stock holdings. Controlling for income and other variables, stock and bond holdings increased with education and were higher for whites than for nonwhites.

JEL Classification: G11

Suggested Citation

Zhong, Lucy X. and Xiao, Jing Jian, Determinants of Family Bond and Stock Holdings. FINANCIAL COUNSELING AND PLANNING, Vol. 6, 1995, Available at SSRN: https://ssrn.com/abstract=7172

Lucy X. Zhong

Nations Bank Card Services

Not available (Phone)
Not available (Fax)

Jing Jian Xiao (Contact Author)

University of Rhode Island ( email )

Transition Center
Kingston, RI 02881
United States
401-874-2547 (Phone)
401-874-4020 (Fax)

HOME PAGE: http://www.uri.edu/hss/hdf/faculty/JingJXiao.htm

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Abstract Views
666
PlumX Metrics