Topic:Rice farming and stock market :the role of culture

Lecturer:Professor,Lan Zhang ,School of Economics, Shandong University

Time:12:15-13:15p.m.November30th, 2023

Venue:B321,Zhixin Building, Central Campus

Abstract:We test the hypothesis that rice culture enhances Chinese household stockmarket participation. We found that rice culture significantly increased stock market participation. We further strengthen this conclusion by using a sample of the floating population. At the same time, we use the method of instrumental variables and the sample of cities near the boundary for regression, and find that the result is still robust. Weidentified three channels through which rice culture affects family participation in the stock market: information sharing and risk toleranceandmoney transfer.