Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/148333 
Erscheinungsjahr: 
2016
Schriftenreihe/Nr.: 
SAFE Working Paper No. 157
Verlag: 
Goethe University Frankfurt, SAFE - Sustainable Architecture for Finance in Europe, Frankfurt a. M.
Zusammenfassung: 
In a field study with more than 1.500 customers of an online-broker we test what happens when investors receive repeated feedback on their investment success in a monthly securities account report. The reports show investors' last year's returns, costs, their current level of risk and their portfolio diversification. We find that receiving a report results in investors trading less, diversifying more and having higher risk-adjusted returns. Results are robust to controlling for potential play money accounts and changes in report designs. We also find that investors who are less likely to subscribe equally benefit from the report.
Schlagwörter: 
household finance
field study
individual investors
reporting
investment mistakes
regulation
JEL: 
D14
G11
G28
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper

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