Direkt zur Hauptnavigation springen Direkt zum Inhalt springen
info(at)avldigital.remove-this.de
Deutsch English
Letzte Suchanfragen

Ergebnisse für *

Zeige Ergebnisse 1 bis 2 von 2.

  1. Fee the People
    Retail Investor Behavior and Trading Commission Fees
    Autor*in: Even-Tov, Omri; George, Kimberlyn; Kogan, Shimon; So, Eric
    Erschienen: 2023
    Verlag:  SSRN, [S.l.]

    We show retail investors are highly responsive to changes in trading commission fees. Using a triple-difference research design around the removal of fees for retail investors on the international retail broker platform, eToro, we show investors... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe

     

    We show retail investors are highly responsive to changes in trading commission fees. Using a triple-difference research design around the removal of fees for retail investors on the international retail broker platform, eToro, we show investors responded by trading approximately 30% more frequently, in smaller order sizes, and increasing portfolio turnover. Removing fees also spurred retail investors to reallocate their portfolios and diversify. Retail investors’ gross return performance did not significantly change around the fee removal despite trading more often, but retail investors earned significantly higher returns on a net basis after accounting for fees incurred in the pre-period. Finally, using demographic information, we show removing fees disproportionately affected inexperienced investors with lower deposit amounts and lesser technological sophistication both by expanding the extensive margin of investors and changing trading activity for the intensive margin of investors. Together, our results suggest commission fees play an influential role as a speed bump for retail investor participation, trading activity, and diversification

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Schriftenreihe: MIT Sloan Research Paper ; No. 6801-22
    Schlagworte: Retail investors; trading activity; behavioral finance
    Weitere Schlagworte: Array
    Umfang: 1 Online-Ressource (69 p)
    Bemerkung(en):

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments October 2022 erstellt
  2. Digital Lending and Financial Well-Being
    Through the Lens of Mobile Phone Data
    Autor*in: Chen, AJ Yuan; Even-Tov, Omri; Kang, Jung Koo; Moerman, Regina Wittenberg
    Erschienen: [2023]
    Verlag:  SSRN, [S.l.]

    By leveraging machine-learning algorithms and using nontraditional digital data derived primarily from borrowers’ mobile devices, digital lenders have vastly expanded access to credit in developing economies for millions of individuals without a... mehr

    Zugang:
    Verlag (kostenfrei)
    Resolving-System (kostenfrei)

    Standort:
    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Fernleihe:
    keine Fernleihe

     

    By leveraging machine-learning algorithms and using nontraditional digital data derived primarily from borrowers’ mobile devices, digital lenders have vastly expanded access to credit in developing economies for millions of individuals without a prior credit history. At the same time, short-term, high-interest-rate digital loans are often issued to borrowers with low financial literacy and are subject to weak consumer protection, raising concerns over predatory lending practices. To examine how access to digital credit influences borrowers’ financial well-being, we take advantage of a proprietary data provided by a large digital lender in Kenya that randomly approves loan applications that would have otherwise been rejected based on the borrower’s credit profile. We find that access to digital credit enhances the financial well-being of borrowers across a variety of mobile-phone-based well-being measures, including their monetary transaction volume, mobility, and social networks, as well as borrowers’ self-reported income and employment. Additionally, we provide some supporting evidence that access to digital credit leads to a greater improvement in financial well-being when borrowers have limited access to credit, take loans for business purposes, and obtain more credit. Overall, we demonstrate that access to short-term, high-interest-rate digital loans can benefit borrowers in developing economies

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    Schriftenreihe: Harvard Business School Research Paper Series Working Paper ; 23-076
    Schlagworte: Digital Loan; Digital Credit; Access to Credit; Alternative Data; Financial Welfare; Financial Well-Being; Developing Economies; Mobile Phone Data
    Weitere Schlagworte: Array
    Umfang: 1 Online-Ressource (56 p)
    Bemerkung(en):

    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 1, 2023 erstellt