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Racial/ethnic differences in high return investment ownership: A decomposition analysis

Title
Racial/ethnic differences in high return investment ownership: A decomposition analysis
Authors
Hanna S.D.Wang C.Yuh Y.
Ewha Authors
여윤경
SCOPUS Author ID
여윤경scopus
Issue Date
2010
Journal Title
Journal of Financial Counseling and Planning
ISSN
1052-3073JCR Link
Citation
vol. 21, no. 2, pp. 44 - 59
Indexed
SCOPUS scopus
Abstract
The racial/ethnic disparities of risky asset ownership were investigated. In the 2004 and 2007 Survey of Consumer Finances datasets, 30% of Hispanic, 36% of Black, and 65% of White households had high return investments such as stocks, investment real estate, or private business assets. Logistic analysis shows that Black and Hispanic households are much less likely to have high return assets, even after controlling for other factors such as education. However, Blinder-Oaxaca decomposition analyses show that if Black households had the same characteristics, including risk tolerance, as White households, they would have the same ownership rates for high return investments, and the gap between Hispanic and White households is much smaller than implied by standard logistic regression. © 2010 Association for Financial Counseling and Planning Education. All rights of reproduction in any form reserved.
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경영대학 > 경영학전공 > Journal papers
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