Key points are not available for this paper at this time.
Randall Morck, Andrei Shleifer, Robert W. Vishny, Matthew Shapiro, James M. Poterba, The Stock Market and Investment: Is the Market a Sideshow?, Brookings Papers on Economic Activity, Vol. 1990, No. 2 (1990), pp. 157-215
Mørck et al. (Mon,) studied this question.