Nearly all empirical tests of stock market participation employ either wealth (assets less debt) or assets as measures of participation costs. The former implicitly assumes that a $1 increase in assets and a $1 decrease in debt equally impact stock market participation. The latter implicitly...

Extant work demonstrates that individuals with lower job satisfaction plan to retire earlier which should lead to an increase likelihood of stock market participation. On the other hand, job satisfaction is negatively correlated with neuroticism and those predisposed to neuroticism tend to focus...

Studies the relative focus on the balance sheet and income statement in the Journal of Accountancy and The Accounting Review during the period, 1926‐1936. An index number representing the relative focus for each year for each journal was obtained from a content analysis of a sample of pages...