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Household Risk Taking after the Financial Crisis
Necker, Sarah - 2014
This study investigates whether and how the crisis in 2008/2009 affects households' risk attitudes, subjective risk and return expectations, and planned financial risk taking using the German SAVE study. Households' wealth change from end-2007 to end-2009 is not found to have an effect. However,...
Persistent link: https://www.econbiz.de/10013040085
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Who is saving privately for retirement and how much? : new evidence for Germany
Metzger, Christoph - 2015
decades. Voluntary savings for retirement will therefore gain more and more relevance in order to maintain one’s standard of … living during retirement. This article examines the savings behavior for retirement on an individual level in Germany. As a … well as the disposable household income. Furthermore migrants and individuals living in the Eastern part of Germany turn …
Persistent link: https://www.econbiz.de/10010517686
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Consuming dividends
Bräuer, Konstantin; Hackethal, Andreas; Hanspal, Tobin - 2020 - Current version: May 2020
This paper studies why investors buy dividend-paying assets and how they time their consumption accordingly. We combine administrative bank data linking customers' consumption transactions and income to detailed portfolio data and survey responses on financial behavior. We find that private...
Persistent link: https://www.econbiz.de/10012223798
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Measuring institutional investors' skill from their investments in private equity
Cavagnaro, Daniel R.; Sensoy, Berk A.; Wang, Yingdi; … - 2018
Using a large sample of institutional investors' investments in private equity funds raised between 1991 and 2011, we estimate the extent to which investors' skill affects their returns. Bootstrap analyses show that the variance of actual performance is higher than would be expected by chance,...
Persistent link: https://www.econbiz.de/10011962225
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Trust and financial advice
Burke, Jeremy; Hung, Angela A. - In: Journal of pension economics and finance : JPEF 20 (2021) 1, pp. 9-26
Persistent link: https://www.econbiz.de/10012404057
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The impact of information risk and market stress on institutional trading : new evidence through the lens of a simulated herd model ; conference paper
Boortz, Christopher K.; Jurkatis, Simon; Kremer, Stephanie - 2013
This paper sheds new light on the impact of information risk and market stress on herding of institutional traders from both, a theoretical and an empirical perspective. Using numerical simulations of a herd model, we show that buy and sell herding intensity should increase with information...
Persistent link: https://www.econbiz.de/10010343757
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Institutional investment in Central and Eastern Europe : investment criteria of Western portfolio managers
Köke, F. Jens - 1999
This study provides detailed evidence on the transistion state of Central and Eastern Europe (CEE) countries. It draws on data from a survey conducted among portfolio managers of Western investment funds thereby making use of the knowledge of experts in CEE markets. The approach of the study is...
Persistent link: https://www.econbiz.de/10011442996
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Crash Beliefs from Investor Surveys
Goetzmann, William N. - 2016
Historical data suggest that the base rate for a severe, single-day stock market crash is relatively low. Surveys of individual and institutional investors, conducted regularly over a 26 year period in the United States, show that they assess the probability to be much higher. We examine the...
Persistent link: https://www.econbiz.de/10012996509
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Destabilizing Financial Advice : Evidence from Pension Fund Reallocations
Da, Zhi - 2018
We document a novel channel through which coordinated trading exerts externalities on financial markets. We study the impact of a financial advisory firm that recommends frequent reallocations between equity and bond funds to Chilean pension investors. The recommendations generate large and...
Persistent link: https://www.econbiz.de/10012937514
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Mutual funds and safe government bonds : do returns matter?
Graziano, Marco; Habib, Maurizio Michael - 2024
This paper investigates the sensitivity of the demand for safe government debt to currency unhedged and hedged excess returns in a sample of US mutual funds. We find evidence of active rebalancing towards government bonds that offer relatively higher returns on an unhedged basis, in particular...
Persistent link: https://www.econbiz.de/10014527087