作者：Barcellos, Leonardo P.; Emett, Scott A.
作者单位：Arizona State University; Arizona State University-Tempe
摘要：A large literature documents that many households underinvest in equities, but the beliefs underlying this behavior remain poorly understood. We study Americans' cynicism toward public companies as a belief structure that helps explain limited market participation, examining its prevalence, underlying mechanisms, and strategies to attenuate it. In a nationally representative survey, we find that corporate cynicism is widespread and negatively predicts individuals' propensity to invest in stock...
