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Does Everyone Use Probabilities? Intuitive and Rational Decisions about Stockholding

Binswanger, Johannes; Salm, Martin - Institute for the Study of Labor (IZA) - 2013

We investigate the relationship between subjective probabilities of future stock market returns and decisions about stockholding. Specifically, we examine whether acting upon subjective probabilities is confined to individuals with high cognitive skills. We explore this question using data from...

Persistent link: https://www.econbiz.de/10010631344

Better Means More: Property Rights and High-Growth Aspiration Entrepreneurship

Estrin, Saul; Korosteleva, Julia; Mickiewicz, Tomasz - Institute for the Study of Labor (IZA) - 2009

entrepreneurship, but has less pronounced effects for entrepreneurial entry. The availability of finance and the fiscal burden matter …

Persistent link: https://www.econbiz.de/10005015496

Performance analysis of international mutual funds incorporating market frictions

ter Horst, Jenke; Nijman, Theo; de Roon, F.A. - Tilburg University, Center for Economic Research - 1998

Persistent link: https://www.econbiz.de/10011090489

Decision Making in the Pension Fund Board Room : An Experiment with Dutch Pension Fund Trustees

van Dalen, H.P.; Henkens, K.; Koedijk, C.G.; Slager, A.M.H. - Tilburg University, Center for Economic Research - 2010

We ask how pension fund trustees deal with the booms and busts that funds encounter, and to what extent the decisions of pension fund trustees are affected by behavioral biases. We examine these issues by using a vignette-method field experiment among Dutch pension fund trustees. We find that...

Persistent link: https://www.econbiz.de/10011092529

Finance and Growth for Microenterprises : Evidence from Rural China

Beck, Thorsten; Lu, L.; Yang, R. - Tilburg University, Center for Economic Research - 2013

Abstract: Using a survey dataset of Chinese rural households, we find that access to external finance is positively … associated with the decision to become entrepreneur, the initial investment for microenterprises and the use of external finance …. Also, we find that the use of informal finance is positively associated with sales growth of microenterprises with …

Persistent link: https://www.econbiz.de/10011092482

Shadow banking : financial intermediation beyond banks

Adrian, Tobias; Chrétien, Edouard; Chui, Michael; … - Shadow Banking: Financial Intermediation beyond Banks …; … - 2018

Persistent link: https://www.econbiz.de/10011790739

Cross-National Differences in Wealth Portfolios at the Intensive Margin: Is There a Role for Policy?

Doorley, Karina; Sierminska, Eva - Institute for the Study of Labor (IZA) - 2014

Using harmonized wealth data and a novel decomposition approach in this literature, we show that cohort effects exist in the income profiles of asset and debt portfolios for a sample of European countries, the U.S. and Canada. We find that the association between household wealth portfolios at...

Persistent link: https://www.econbiz.de/10010959745

Should new or rapidly growing banks have more equity?

Niinimäki, Juha-Pekka - Suomen Pankki - 2001

There is substantial evidence that new banks and rapidly growing banks are risk prone. We study this problem by designing a relationship-lending model in which a bank operates as a financial intermediary and centralised monitor. In the absence of deposit insurance, the bank’s limited liability...

Persistent link: https://www.econbiz.de/10005648834

To Own or Not to Own? Household Portfolios, Demographics and Institutions in a Cross-National Perspective

Sierminska, Eva; Doorley, Karina - Institute for the Study of Labor (IZA) - 2013

Using harmonized wealth data and a novel decomposition approach, we show that cohort effects exist in the income profiles of asset and debt portfolios for a sample of European countries, the U.S. and Canada. We find that younger households' participation decisions in assets are more responsive...

Persistent link: https://www.econbiz.de/10011188128

The Perception of Lethal Risks: Evidence from a Laboratory Experiment

Schubert, Manuel; Brück, Tilman - Institute for the Study of Labor (IZA) - 2014

We run a novel experiment to explore the relationship between the perception of real-life risks and the demand for risk reduction. Subjects play a series of loss lotteries in which the odds are matched to the likelihood of lethal events in real life. For each risk, subjects can pay premiums in...

Persistent link: https://www.econbiz.de/10010959599

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