Similar Search Results

Financial advisors: A case of babysitters?

Hackethal, Andreas; Haliassos, Michael; Jappelli, Tullio - Center for Financial Studies - 2009

We merge administrative information from a large German discount brokerage firm with regional data to examine if financial advisors improve portfolio performance. Our data track accounts of 32,751 randomly selected individual customers over 66 months and allow direct comparison of performance...

Persistent link: https://www.econbiz.de/10010958743

Financial Advisors: A Case of Babysitters?

Hackethal, Andreas; Haliassos, Michael; Jappelli, Tullio - Center for Financial Studies - 2009

This paper provides a joint analysis of household stockholding participation, stock location among stockholding modes, and participation spillovers, using data from the US Survey of Consumer Finances. Our multivariate choice model matches observed participation rates, conditional and...

Persistent link: https://www.econbiz.de/10005007639

Trust, sociability and stock market participation

Georgarakos, Dimitris; Pasini, Giacomo - Center for Financial Studies - 2009

We investigate the effects of both trust and sociability for stock market participation, the role of which has been …, Ageing and Retirement in Europe supplemented with regional information on generalized trust from the World Value Survey and … on specific trust to financial institutions from Eurobarometer. We show that trust and sociability have distinct and …

Persistent link: https://www.econbiz.de/10010958583

The reaction of consumer spending and debt to tax rebates: Evidence from consumer credit data

Lusardi, Annamaria; Mitchell, Olivia S. - Center for Financial Studies - 2007

We use a new panel dataset of credit card accounts to analyze how consumer responded to the 2001 Federal income tax rebates. We estimate the monthly response of credit card payments, spending, and debt, exploiting the unique, randomized timing of the rebate disbursement. We find that, on...

Persistent link: https://www.econbiz.de/10010986371

Trusting the stock market

Haliassos, Michael; Reiter, Michael - Center for Financial Studies - 2005

We provide a new explanation to the limited stock market participation puzzle. In deciding whether to buy stocks, investors factor in the risk of being cheated. The perception of this risk is a function not only of the objective characteristics of the stock, but also of the subjective...

Persistent link: https://www.econbiz.de/10010958761

Trusting the Stock Market

Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - Center for Financial Studies - 2005

Persistent link: https://www.econbiz.de/10005176434

Trust, trustworthiness and selection into the financial industry

Gill, Andrej; Heinz, Matthias; Schumacher, Heiner - Center for Financial Studies - 2014

We examine trust and trustworthiness of individuals with varying professional preferences and experiences. Our subjects … study business and economics in Frankfurt, the financial center of Germany and continental Europe. In the trust game … process. In a prediction game that is strategically equivalent to the trust game, the amount sent by first-movers was …

Persistent link: https://www.econbiz.de/10010958692

The impact of health insurance on stockholding: A regression discontinuity approach

Christelis, Dimitris; Georgarakos, Dimitris; … - Center for Financial Studies - 2014

Using data from the US Health and Retirement Study, we study the causal effect of increased health insurance coverage through Medicare and the associated reduction in health-related background risk on financial risk-taking. Given the onset of Medicare at age 65, we identify our effect of...

Persistent link: https://www.econbiz.de/10010986481

Lifecycle impacts of the financial and economic crisis on household optimal consumption, portfolio choice, and labor supply

Chai, Jingjing; Maurer, Raimond H.; Mitchell, Olivia S.; … - Center for Financial Studies - 2011

The direct financial impact of the financial crisis has been to deal a heavy blow to investment-based pensions; many workers lost a substantial portion of their retirement saving. The financial sector implosion produced an economic crisis for the rest of the economy via high unemployment and...

Persistent link: https://www.econbiz.de/10010958546

Stockholding: From participation to location and to participation spillovers

Christelis, Dimitris; Georgarakos, Dimitris; Haliassos, … - Center for Financial Studies - 2009

Persistent link: https://www.econbiz.de/10010958551