Research Article
Social Interaction and Stock Market Participation: Evidence from China
Table 4
Social interaction’s influences on the stock market participation.
| | | | | | | | | | Adj- |
| | Traditional social interaction | | 0.0258*** (4.6464) | 0.0047*** (3.2977) | −0.0018** (−2.5291) | 0.0032*** (8.0173) | −0.0254*** (−13.9048) | (23.0079) | 0.0621 | 0.0618 | | 0.0277*** (5.0043) | 0.0015 (0.8641) | −0.0002*** (−2.6545) | 0.0032*** (7.8941) | −0.0253*** (−13.7891) | (23.0647) | 0.0615 | 0.0612 | | 0.0263*** (4.7418) | 0.0098*** (3.4187) | −0.0002** (−2.3790) | 0.0032*** (7.9149) | −0.0253*** (−13.8493) | (23.0565) | 0.0621 | 0.0618 | | 0.0254*** (4.6029) | 0.0253*** (4.6029) | −0.0002*** (−2.9082) | 0.0028*** (7.1167) | −0.0213*** (−11.2856) | (22.9896) | 0.0658 | 0.0655 | | 0.0281*** (5.0808) | 0.0101* (1.7705) | −0.0002*** (−2.7247) | 0.0031*** (7.8814) | 0.0251*** (−13.6789) | (23.0574) | 0.0616 | 0.0613 | | 0.0280*** (5.0696) | 0.0165* (1.8848) | −0.0002*** (−2.6734) | 0.0031*** (7.8682) | −0.0252*** (−13.7754) | (23.0867) | 0.0616 | 0.0613 | | 0.0280*** (5.0642) | 0.0045 (0.5702) | −0.0002*** (−2.6732) | 0.0032*** (8.0095) | −0.0253*** (−13.8298) | (23.0752) | 0.0614 | 0.0611 | | 0.0279*** (5.0468) | 0.0607*** (5.2117) | −0.0002*** (−2.6056) | 0.0030*** (7.6055) | −0.0251*** (−13.7215) | (23.1143) | 0.0630 | 0.0627 |
| | Modern social interaction | | 0.0261*** (4.6999) | 0.0043*** (3.1100) | −0.0002*** (−2.7531) | 0.0031*** (7.8351) | −0.0249*** (−13.5210) | (23.0129) | 0.0620 | 0.0617 | | 0.0171*** (3.0522) | 0.0229*** (11.4867) | (−1.3646) | 0.0025*** (6.2575) | −0.0203*** (−10.8124) | (22.9258) | 0.0693 | 0.0690 | | 0.0142*** (2.6303) | 0.1332*** (30.3330) | (−0.7496) | 0.0015*** (3.7314) | −0.0153*** (−8.4427) | (20.8950) | 0.1131 | 0.1128 |
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Note. Numbers with ***, **, and *are significant at 1%, 5%, and 10% level, respectively.
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