Imperial College London
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ProfessorTarunRamadorai

Business School

Professor of Financial Economics
 
 
 
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Contact

 

t.ramadorai CV

 
 
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Location

 

53 Prince's GateSouth Kensington Campus

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Summary

 

Publications

Citation

BibTex format

@article{Campbell:2019:10.1257/aeri.20180158,
author = {Campbell, JY and Ramadorai, T and Ranish, B},
doi = {10.1257/aeri.20180158},
journal = {AMERICAN ECONOMIC REVIEW-INSIGHTS},
pages = {225--240},
title = {Do the rich get richer in the stock market? evidence from India},
url = {http://dx.doi.org/10.1257/aeri.20180158},
volume = {1},
year = {2019}
}
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RIS format (EndNote, RefMan)

TY  - JOUR
AB  - We use data on Indian stock portfolios to show that return heterogeneity is the primary contributor to increasing inequality of wealth held in risky assets by Indian individual investors. Return heterogeneity increases equity wealth inequality through two main channels, both of which are related to the prevalence of undiversified accounts that own relatively few stocks. First, some undiversified portfolios randomly do well, while others randomly do poorly. Second, larger accounts diversify more effectively and thereby earn higher average log returns even though their average simple returns are no higher than those of smaller accounts.
AU  - Campbell,JY
AU  - Ramadorai,T
AU  - Ranish,B
DO  - 10.1257/aeri.20180158
EP  - 240
PY  - 2019///
SN  - 2640-205X
SP  - 225
TI  - Do the rich get richer in the stock market? evidence from India
T2  - AMERICAN ECONOMIC REVIEW-INSIGHTS
UR  - http://dx.doi.org/10.1257/aeri.20180158
UR  - http://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcApp=PARTNER_APP&SrcAuth=LinksAMR&KeyUT=WOS:000672746300007&DestLinkType=FullRecord&DestApp=ALL_WOS&UsrCustomerID=1ba7043ffcc86c417c072aa74d649202
UR  - https://www.aeaweb.org/articles?id=10.1257/aeri.20180158
VL  - 1
ER  -
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