This study uses the Wave 2 (2013), Wave 3 (2015) and Wave 4 (2018) released by Harmonized China Health and Retirement Longitudinal Study (CHARLS) to examine the effect of cognitive ability on stock investment in the middle-aged and older populations in China. This study investigates the...

Frequent shifting of household portfolio composition may erode wealth due to poor market timing and transaction costs. If household preferences are stable, the optimal wealth maximizing strategy is periodically rebalancing to maintain a relatively constant ratio of investment assets to wealth...

Frequent shifting of household portfolio composition may erode wealth due to poor market timing and transaction costs. If household preferences are stable, the optimal wealth maximizing strategy is periodically rebalancing to maintain a relatively constant ratio or investment assets to wealth...

This paper examines the association between stock market return expectations and financial wealth holdings of older adults using the 2016 wave of the Health and Retirement Study. Our study finds that less than 30% of individuals assigned a greater than 50% probability that the market will earn a...