Do deeply rooted genetic traits, dating thousands of years, affect how information is impounded into stock prices nowadays? It is an intriguing idea, but one that stems from several studies that support the underlying economic intuition because genetic factors affect psychological traits, such as trust and creativity, that are known to influence price informativeness. Using data from 42 countries during 2004–2016, we investigate the impact of genetic diversity on stock price informativeness and find strong evidence in support of a hump-shaped relationship, that is, intermediate levels of genetic diversity are associated with high price informativeness and low/high genetic diversity is associated with low price informativeness. Institutional quality affects this relationship nonlinearly. Hence, improving the quality of institutions has positive effects on price informativeness, especially for nations with high/low genetic diversity.

根深蒂固的遗传特征，可以追溯到数千年前，是否会影响如今信息如何被纳入股票价格？这是一个有趣的想法，但源于几项支持潜在经济直觉的研究，因为遗传因素会影响心理特征，例如信任和创造力，这些特征已知会影响价格信息。使用 2004-2016 年 42 个国家的数据，我们调查了遗传多样性对股票价格信息量的影响，并找到了支持驼峰状关系的有力证据，即中等水平的遗传多样性与高价格信息量和低价格信息量相关。 /高遗传多样性与低价格信息相关。制度质量非线性地影响这种关系。因此，