Sökning: "Yuhuang Sun"

Hittade 1 uppsats innehållade orden Yuhuang Sun.

  1. 1. The Effect of House Price Risk on Homeowners' Portfolio Choice

    D-uppsats, Handelshögskolan i Stockholm/Institutionen för finansiell ekonomi

    Författare :Yuhuang Sun; [2020]
    Nyckelord :Household finance; House price risk; Limited stock market participation; Hedging motive;

    Sammanfattning : Using the 2017 wave of China Household Finance Survey (CHFS), this paper studies how house price risk affects homeowners' stock market participation and share of liquid financial wealth invested in stocks conditional on not moving. Exploiting the subsample of homeowners whose tenure choices are exogenous due to the institutional changes during the Chinese housing market privatization, this study finds that the correlation between housing return and stock return has a crowding-out effect on both stock market participation and stock shares among participants. LÄS MER