15 March 2021 - 15 March 2021
12:10 - 12:55



Brown Bag Seminar in Economics and Finance

Welcome to join us for the online Brown Bag Seminar in Economics and Finance presented by 

Sara Jonsson from Stockholm Business School


Title: The medium is the message: learning channels, financial literacy, and stock market participation


Date: Monday, March 15
Time: 12:10-12:55


This paper investigates the effects of learning channels on stock market participation. More specifically, we investigate the direct effects of learning about financial matters from one’s private network, financial advisors, and the media, as well as the interactive effects of financial literacy and these learning channels. Analyzing a unique cross-section data that combine survey data and bank register data on retail investors, we find that media are the only learning channel that increases the likelihood of stock market participation. Interactions point to the joint importance of financial literacy and media as a learning channel for individuals’ stock market participation. Constructing theme–based literacy measures, we conclude that only financial knowledge related to investments in risky assets affects stock market participation. Our findings suggest implications to policymakers when designing financial education programs. 


Have a look at the seminar program for S2 here.


Organizer: Jönköping International Business School
Last updated: 2021-03-09 13:22