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The promises and pitfalls of robo-advising
D'Acunto, Francesco; Prabhala, Nagpurnanand R.; Rossi, … - 2018
We study a robo-advising portfolio optimizer that constructs tailored strategies based on investors' holdings and preferences. Adopters are similar to non-adopters in terms of demographics, but have more assets under management, trade more, and have higher risk-adjusted performance. The...
Persistent link: https://www.econbiz.de/10011795044
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Active learning improves financial education : experimental evidence from Uganda
Kaiser, Tim; Menkhoff, Lukas - 2022
We conduct a randomized field experiment to study the effects of two financial education interventions offered to small-scale retailers in rural western Uganda. The treatments contrast "active learning" with traditional "lecturing" within standardized lesson-plans. After six months, active...
Persistent link: https://www.econbiz.de/10013170928
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Financial literacy and financial education : an overview
Kaiser, Tim; Lusardi, Annamaria - 2024
This article provides a concise narrative overview of the rapidly growing empirical literature on financial literacy and financial education. We first discuss stylized facts on the demographic correlates of financial literacy. We next cover the evidence on the effects of financial literacy on...
Persistent link: https://www.econbiz.de/10014517964
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Robo-advising
D'Acunto, Francesco; Rossi, Alberto - 2020
In this chapter, we first discuss the limitations of traditional financial advice, which led to the emergence of robo-advising. We then describe the main features of robo-advising and propose a taxonomy of robo-advisors based on four defining dimensions - personalization, discretion,...
Persistent link: https://www.econbiz.de/10012200345
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What does peer-to-peer lending evidence say about the risk-taking channel of monetary policy?
Huang, Yiping; Li, Xiang; Wang, Chu - 2019
This paper uses loan application-level data from a peer-to-peer lending platform to study the risk-taking channel of monetary policy. By employing a direct ex-ante measure of risk-taking and estimating the simultaneous equations of loan approval and loan amount, we are the first to provide...
Persistent link: https://www.econbiz.de/10012057284
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Redistribution of return inequality
Schulz, Karl - 2021
Wealthier households obtain higher returns on their investments than poorer ones. How should the tax system account for this return inequality? I study capital taxation in an economy in which return rates endogenously correlate with wealth. The leading example is a financial market, where the...
Persistent link: https://www.econbiz.de/10012499593
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Financial education or incentivizing learning-by-doing? : evidence from an RCT with undergraduate students
Oberrauch, Luis; Kaiser, Tim - 2024
We study the effects of digital financial education interventions on undergraduate students’ financial knowledge in a small-scale RCT. We test the substitutability or complementarity of two treatments: an online video financial education treatment and an incentive-based approach where students...
Persistent link: https://www.econbiz.de/10014576837
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How do banks interact with fintechs? : forms of alliances and their impact on bank value
Hornuf, Lars; Klus, Milan Frederik; Lohwasser, Todor S.; … - 2018 - This Version: July 18, 2018
banks to form alliances with fintechs. Furthermore, we analyze whether such bank-fintech alliances affect the market … Officer. We evidence that markets react more strongly if digital banks rather than traditional banks announce a bank-fintech … the fintech and that banks most often cooperate with fintechs providing payment services. …
Persistent link: https://www.econbiz.de/10011882455
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What drives financial development? : a meta-regression analysis
Doucouliagos, Chris; Haan, Jakob de; Sturm, Jan-Egbert - 2020
This paper offers a meta-regression analysis of the literature on the drivers of financial development. Our results based on 1900 estimates suggest that institutional quality is positively correlated to both private sector credit and stock market capitalization (both as share of GDP). Domestic...
Persistent link: https://www.econbiz.de/10012229266
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Perceived precautionary savings motives : evidence from FinTech
D'Acunto, Francesco; Rauter, Thomas; Scheuch, Christoph; … - 2020
, and motives through a FinTech application. Users increase their spending permanently, lower their savings rate, and …
Persistent link: https://www.econbiz.de/10012171775