Research Article
Social Interaction and Stock Market Participation: Evidence from China
Table 5
Social interaction’s influences on the activeness of stock market participation.
| | | | | | | | | | Adj- |
| | Traditional social interaction | | 0.0179*** (3.8821) | 0.0046*** (3.8686) | −0.0001** (−2.2073) | 0.0023*** (7.0230) | −0.0185*** (−12.1508) | (20.6816) | 0.0500 | 0.0497 | | 0.0194*** (4.2122) | 0.0033** (2.2018) | −0.0001** (−2.3142) | 0.0023*** (6.7753) | −0.0182*** (−11.9742) | (20.7382) | 0.0494 | 0.0491 | | 0.0178*** (3.8752) | 0.0119*** (5.2672) | −0.0001** (−1.9250) | 0.0023*** (68725) | −0.0184*** (−12.0943) | (20.7362) | 0.0507 | 0.0504 | | 0.0181*** (3.9398) | 0.0193*** (7.8395) | −0.0002*** (−2.5927) | 0.0021*** (6.2054) | −0.0153*** (−9.7450) | (20.6712) | 0.0528 | 0.0525 | | 0.0201*** (4.3908) | 0.0263*** (5.5395) | −0.0002** (−2.5163) | 0.0022*** (6.6353) | −0.0178*** (−11.6686) | (20.7224) | 0.0509 | 0.0506 | | 0.0201*** (4.3686) | 0.0133* (1.8321) | −0.0001** (−2.3780) | 0.0023*** (6.8884) | −0.0183*** (−12.0093) | (20.7691) | 0.0493 | 0.0490 | | 0.0200*** (4.3493) | 0.0083 (1.2601) | −0.0001** (−2.3639) | 0.0023*** (7.0059) | −0.0183*** (−12.0616) | (20.7616) | 0.0492 | 0.0489 | | 0.0197*** (4.3137) | 0.1251*** (12.9703) | −0.0001** (−2.1989) | 0.0020*** (6.0508) | −0.0179*** (−11.8317) | (20.9200) | 0.0591 | 0.0588 |
| | Modern social interaction | | 0.0185*** (4.0032) | 0.0036*** (3.1147) | −0.0001** (−2.4588) | 0.0023*** (6.8502) | −0.0180*** (−11.7586) | (20.6967) | 0.0497 | 0.0494 | | 0.0124*** (2.6650) | 0.0160*** (9.6720) | (−1.2747) | 0.0019*** (5.5402) | −0.0149*** (−9.4969) | (20.4138) | 0.0547 | 0.0544 | | 0.0062*** (1.3928) | 0.1338*** (37.1732) | (−0.0273) | 0.0006* (1.8255) | −0.0083*** (−5.5716) | (18.1946) | 0.1256 | 0.1253 |
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Note. Numbers with ***, **, and *are significant at 1%, 5%, and 10% level, respectively.
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