Model I

Model II

Dependent Variable

Ifinstock

Stock_ratio

net_house

0.0176574***

(0.0020856)

0.0752509***

(0.0093126)

if_hf

0.0574415***

(0.0053061)

0.2390926***

(0.0262311)

income

0.0222986***

(0.0075852)

0.0958003

(0.037629)

num

0.0038782

(0.0016391)

0.0173393

(0.0073645)

gender

−0.0238013***

(0.0046782)

−0.1046691***

(0.0223019)

risk_prference

−0.0380847***

(0.0016582)

−0.1825768***

(0.0081786)

age

0.0008488***

(0.0001708)

0.0006915***

(0.000166)

TLA

0.0657982***

(0.0046159)

0.0755995

(0.0053154)

Education

0.0255616***

(0.0014083)

0.0234857***

(0.0014088)

Region

−0.0231033***

(0.0030182)

−0.0164833***

(0.0028823)

rural

−0.1100571***

(0.010489)

−0.0850748***

(0.0100162)

Pseudo²

0.3294

0.2824

Observations

15765

15765