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Financial advice and stock market participation
Georgarakos, Dimitris; Inderst, Roman - 2011
predictions from a formal model, we present evidence that households’ trust in financial advice only matters when their perceived …
Persistent link: https://www.econbiz.de/10011605342
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Financial advisors: A case of babysitters?
Hackethal, Andreas; Haliassos, Michael; Jappelli, Tullio - 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/10010303719
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The role of securitization in mortgage renegotiation
Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2011
We study the effects of securitization on renegotiation of distressed residential mortgages over the current financial crisis. Unlike prior studies, we employ unique data that directly observe lender renegotiation actions and cover more than 60% of the U.S. mortgage market. Exploiting...
Persistent link: https://www.econbiz.de/10010292147
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Market-Based loss mitigation practices for troubled mortgages following the financial crisis
Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - 2010
The meltdown in residential real-estate prices that commenced in 2006 resulted in unprecedented mortgage delinquency rates. Until mid-2009, lenders and servicers pursued their own individual loss mitigation practices without being significantly influenced by government intervention. Using a...
Persistent link: https://www.econbiz.de/10010292190
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Why do banks reward their customers to use their credit cards?
Agarwal, Sumit; Chakravorti, Sujit; Lunn, Anna - 2010
Using a unique administrative level dataset from a large and diverse U.S. financial institution, we test the impact of rewards on credit card spending and debt. Specifically, we study the impact of cash-back rewards on individuals before and during their enrollment in the program. We find that...
Persistent link: https://www.econbiz.de/10010292197
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Gender differences in financial advice
Bucher-Koenen, Tabea; Hackethal, Andreas; Koenen, Johannes - 2021
We show that financial advisors recommend more costly products to female clients, based on minutes from about 27,000 real-world advisory meetings and client portfolio data. Funds recom-mended to women have higher expense ratios controlling for risk, and women less often receive rebates on...
Persistent link: https://www.econbiz.de/10012603376
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Gender differences in financial advice
Bucher-Koenen, Tabea; Hackethal, Andreas; Koenen, Johannes - 2021
We show that financial advisors recommend more costly products to female clients, based on minutes from about 27,000 real-world advisory meetings and client portfolio data. Funds recommended to women have higher expense ratios controlling for risk, and women less often receive rebates on upfront...
Persistent link: https://www.econbiz.de/10012436476
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Trust, sociability and stock market participation
Georgarakos, Dimitris; Pasini, Giacomo - 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/10010303716
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Credit counseling: A substitute for consumer financial literacy?
Disney, Richard; Gathergood, John; Weber, Jörg - 2014
Is financial literacy a substitute or complement for financial advice? In this paper we analyze the decision by consumers to seek financial advice in the form of credit counseling concerning their credit and debt. Credit counseling is an important component of the consumer credit sector for...
Persistent link: https://www.econbiz.de/10011335636
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Financial Advice: An Improvement for Worse?
Karabulut, Yigitcan - 2010
Using a unique administrative data set from a large German commercial bank, this paper aims to ascertain the role of financial advisors in individual portfolios. Following on the heels of the ongoing regulatory and political debate as to the merits of financial advice, we focus in this paper on...
Persistent link: https://www.econbiz.de/10010270126