IDEAS home Printed from https://ideas.repec.org/p/ttu/tuteco/19.html
   My bibliography  Save this paper

Education and stock market performance

Author

Listed:
  • Kristjan Liivamägi

Abstract

In our recent work (Liivamägi, Vaarmets, & Talpsepp, 2014), we study how education and mental abilities affect investors’ risk adjusted performance on the stock market. We use a dataset from Tallinn stock exchange, covering stock market transactions from a full business cycle along with educational background details for all individual investors. Data are anonymous and provided by official national registries. Controlling for a variety of tradingrelated and socio-economic factors, we show that better mathematical skills and overall high mental abilities are associated with better risk adjusted performance. In addition, holding a higher degree or a university degree in economics or information technology helps to outperform other investors. Abstract in Estonian:Seosed hariduse ja investorite edukuse vahelKristjan LiivamägiAnalüüsides oma uurimistöös (Liivamägi, Vaarmets, & Talpsepp, 2014) hariduslike faktorite mõju investorite riskiga korrigeeritud tootlustele, suudame tuvastada need investorid, keda börsil tegutsedes saadab suurem edu. Investorite finantskäitumise analüüsimiseks kasutame andmekogumit, mis hõlmab nii anonüümseid Tallinna Börsi investorite tehinguid kui ka nende investoritega seotud hariduslikke andmeid. Oma uurimistöös jõudsime järeldusele, et paremaid tulemusi matemaatikas ning üldiselt kõrgemaid vaimseid võimeid näitavad investorid suudavad aktsiaturul oma varasid edukamalt kasvatada kui teised inimesed. Lisaks sellele selgub meie valimi põhjal, et kõrgemalt haritud ning ülikoolis majanduse või infotehnoloogia alal kraadi omavad investorid näitavad aktsiaturul kõrgemat riskiga korrigeeritud tootlust. Artikkel on PDF versioonis eesti keeles: vaatamiseks vali link Full Text: PDF

Suggested Citation

  • Kristjan Liivamägi, 2014. "Education and stock market performance," TUT Economic Research Series 19, Department of Finance and Economics, Tallinn University of Technology.
    • Handle: RePEc:ttu:tuteco:19
    as

    Download full text from publisher

    File URL: http://www.tutecon.eu/index.php/TUTECON/article/download/19/19
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ttu:tuteco:19. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Anneli Kalm (email available below). General contact details of provider: https://edirc.repec.org/data/fettuee.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.