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Un portrait de l?investisseur individuel français

Listed author(s):
  • Shaneera Boolell-Gunesh


    (Laboratoire de Recherche en Gestion et Economie, Université Louis Pasteur)

Registered author(s):

    L'objet de cet article est de mettre en lumière à partir de données empiriques les caractéristiques de l'investisseur individuel français. Un échantillon de 92 603 porteurs de valeurs mobilières réalisant des opérations entre 1999 et 2006 est étudié. Des statistiques descriptives sur les variables démographiques, les comptes détenus, les transactions réalisées ainsi que les portefeuilles sont présentées. Nos principaux résultats peuvent être résumés ainsi : le porteur français est en moyenne un homme âgé de 42 ans et habite l'Ile de France. Lorsqu'il détient un compte PEA, il le clôture avant la date à laquelle l'avantage fiscal est activé (5 ans). De nombreux investisseurs réalisent moins de 6 opérations entre 1999 et 2006 et seulement 1,62% des porteurs font plus de 1000 opérations sur cette période. Même si plus de la moitié des investisseurs diversifient leurs portefeuilles à l'international, 90% des transactions portent sur des titres français. Le nombre d'actions ordinaires différentes détenues augmente de 2005 à 2006, suggérant que les investisseurs diversifient de plus en plus leurs portefeuilles. Enfin, plus de 30% des porteurs ont investi entre 1999 et 2006 moins de 10 000 euros sur leur portefeuille.

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    Paper provided by Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg in its series Working Papers of LaRGE Research Center with number 2008-12.

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    Date of creation: 2008
    Handle: RePEc:lar:wpaper:2008-12
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    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

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    1. William N. Goetzmann & Alok Kumar, 2008. "Equity Portfolio Diversification," Review of Finance, European Finance Association, vol. 12(3), pages 433-463.
    2. Boolell-Gunesh S. & Broihanne M-H. & Merli M., 2008. "Are French Individual Investors reluctant to realize their losses?," Working Papers of LaRGE Research Center 2008-09, Laboratoire de Recherche en Gestion et Economie (LaRGE), Université de Strasbourg.
    3. Mark Grinblatt, 2001. "How Distance, Language, and Culture Influence Stockholdings and Trades," Journal of Finance, American Finance Association, vol. 56(3), pages 1053-1073, 06.
    4. Glaser, Markus, 2003. "Online broker investors : demographic information, investment strategy, portfolio positions, and trading activity," Papers 03-18, Sonderforschungsbreich 504.
    5. Shefrin, Hersh & Statman, Meir, 1985. " The Disposition to Sell Winners Too Early and Ride Losers Too Long: Theory and Evidence," Journal of Finance, American Finance Association, vol. 40(3), pages 777-790, July.
    6. Terrance Odean, 1998. "Are Investors Reluctant to Realize Their Losses?," Journal of Finance, American Finance Association, vol. 53(5), pages 1775-1798, October.
    7. Glaser, Markus, 2003. "Online Broker Investors: Demographic Information, Investment Strategy, Portfolio Positions, and Trading Activity," Sonderforschungsbereich 504 Publications 03-18, Sonderforschungsbereich 504, Universität Mannheim;Sonderforschungsbereich 504, University of Mannheim.
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