Individual stockownership in the United States: Is there a native-immigrant gap in financial market participation?

This paper uses data from the National Longitudinal Survey, cohort 1979 (NLSY79) to examine the differences in financial market participation among native-born Americans and immigrant households. The results indicate that, compared to natives, immigrants are less likely to own stocks and that the likelihood of stockownership increases with income and educational attainment for immigrants and natives alike. Results also suggest that stock market participation among immigrants increases as their time in the United States increases, and that risk tolerance is a positive predictor of financial market participation for both native-born and immigrant Americans.

Individual stockownership in the United States: Is there a native-immigrant gap in financial market participation? Academic Article