| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP11859 |
| DP11859 Losing Trust in Money Doctors | |
| Martin Weber; Daniel Dorn | |
| 发表日期 | 2017-02-17 |
| 出版年 | 2017 |
| 语种 | 英语 |
| 摘要 | Delegated stock market participation is fragile, especially during crises. Investors who had delegated all of their equity investments to fund managers before the financial crisis were almost twice as susceptible to exiting the stock market during the crisis than their peers who invested in individual stocks, other things equal. This result holds across two very different samples: 40,000 clients at a large German bank and the 2007-2009 panel of the U.S. Survey of Consumer Finances. Households who reported to rely on the advice of money doctors before the crisis, but not afterwards, were especially likely to sell all their stock funds. |
| 主题 | Financial Economics |
| 关键词 | Household finance Diversification Delegated investing Stock market participation Financial crisis |
| URL | https://cepr.org/publications/dp11859 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/540672 |
| 推荐引用方式 GB/T 7714 | Martin Weber,Daniel Dorn. DP11859 Losing Trust in Money Doctors. 2017. |
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