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Financial advice and stock market participation

Author

Listed:
  • Georgarakos, Dimitris
  • Inderst, Roman

Abstract

We introduce professional financial advice in households JEL Classification: E1, G2, D8

Suggested Citation

  • Georgarakos, Dimitris & Inderst, Roman, 2011. "Financial advice and stock market participation," Working Paper Series 1296, European Central Bank.
  • Handle: RePEc:ecb:ecbwps:20111296
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    File URL: https://www.ecb.europa.eu//pub/pdf/scpwps/ecbwp1296.pdf
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    References listed on IDEAS

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    Citations

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    Cited by:

    1. Nicola Gennaioli & Andrei Shleifer & Robert Vishny, 2015. "Money Doctors," Journal of Finance, American Finance Association, vol. 70(1), pages 91-114, February.
      • Nicola Gennaioli & Andrei Shleifer & Robert Vishny, "undated". "Money Doctors," Working Paper 69721, Harvard University OpenScholar.
      • Gennaioli, Nicola & Shleifer, Andrei & Vishny, Robert W., 2014. "Money Doctors," Scholarly Articles 12965657, Harvard University Department of Economics.
      • Nicola Gennaioli & Andrei Shleifer & Robert W. Vishny, 2012. "Money Doctors," NBER Working Papers 18174, National Bureau of Economic Research, Inc.
      • Nicola Gennaioli & Andrei Shleifer & Robert Vishny, 2012. "Money Doctors," Working Papers 464, IGIER (Innocenzo Gasparini Institute for Economic Research), Bocconi University.
      • Nicola Gennaioli & Andrei Shleifer & Robert Vishny, "undated". "Money Doctors," Working Paper 228501, Harvard University OpenScholar.
      • Nicola Gennaioli & Andrei Shleifer & Robert Vishny, 2012. "Money doctors," Economics Working Papers 1355, Department of Economics and Business, Universitat Pompeu Fabra.
    2. Guiso, Luigi & Sodini, Paolo, 2013. "Household Finance: An Emerging Field," Handbook of the Economics of Finance, Elsevier.
    3. M. Fort & F. Manaresi & S. Trucchi, 2012. "Banks Information Policies, Financial Literacy and Household Wealth," Working Papers wp852, Dipartimento Scienze Economiche, Universita' di Bologna.
    4. Fagereng, Andreas & Guiso, Luigi & Pistaferri, Luigi, 2016. "Back to background risk?," CEPR Discussion Papers 11051, C.E.P.R. Discussion Papers.
    5. Calcagno, Riccardo & Monticone, Chiara, 2015. "Financial literacy and the demand for financial advice," Journal of Banking & Finance, Elsevier, vol. 50(C), pages 363-380.
    6. Giofré, Maela, 2017. "Financial education, investor protection and international portfolio diversification," Journal of International Money and Finance, Elsevier, vol. 71(C), pages 111-139.
    7. repec:spr:soinre:v:132:y:2017:i:2:d:10.1007_s11205-016-1309-2 is not listed on IDEAS
    8. Salvatore Piccolo & Giovanni W. Puopolo & Luis Vasconcelos, 2016. "Non-Exclusive Financial Advice," Review of Finance, European Finance Association, vol. 20(6), pages 2079-2123.
    9. Calcagno, Riccardo & Giofré, Maela & Urzì-Brancati, Maria Cesira, 2017. "To trust is good, but to control is better: How investors discipline financial advisors’ activity," Journal of Economic Behavior & Organization, Elsevier, vol. 140(C), pages 287-316.
    10. Kramer, Marc M., 2016. "Financial literacy, confidence and financial advice seeking," Journal of Economic Behavior & Organization, Elsevier, vol. 131(PA), pages 198-217.
    11. repec:eee:joreco:v:30:y:2016:i:c:p:131-139 is not listed on IDEAS
    12. repec:spr:jbecon:v:87:y:2017:i:5:d:10.1007_s11573-017-0853-9 is not listed on IDEAS
    13. repec:oup:restud:v:85:y:2018:i:1:p:437-474. is not listed on IDEAS
    14. repec:gam:jsusta:v:10:y:2018:i:6:p:1904-:d:151130 is not listed on IDEAS
    15. M. Debbich, 2015. "Why Financial Advice Cannot Substitute for Financial Literacy?," Working papers 534, Banque de France.
    16. Andreas Fagereng & Luigi Guiso & Luigi Pistaferri, 2018. "Portfolio Choices, Firm Shocks, and Uninsurable Wage Risk," Review of Economic Studies, Oxford University Press, vol. 85(1), pages 437-474.

    More about this item

    Keywords

    consumer protection; financial advice; household finance; trust;

    JEL classification:

    • E1 - Macroeconomics and Monetary Economics - - General Aggregative Models
    • G2 - Financial Economics - - Financial Institutions and Services
    • D8 - Microeconomics - - Information, Knowledge, and Uncertainty

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