تقرير
Good Peers, Good Apples? Peer Effects in Portfolio Quality
| العنوان: | Good Peers, Good Apples? Peer Effects in Portfolio Quality |
|---|---|
| المؤلفون: | Balakina, Olga, Bäckman, Claes, Hackethal, Andreas, Hanspal, Tobin, Lammer, Dominique M. |
| المصدر: | Balakina , O , Bäckman , C , Hackethal , A , Hanspal , T & Lammer , D M 2022 ' Good Peers, Good Apples? Peer Effects in Portfolio Quality ' Economics Working Papers , no. 2022-02 , Århus Universitet , Aarhus . |
| بيانات النشر: | Århus Universitet |
| سنة النشر: | 2022 |
| المجموعة: | Aarhus University: Research |
| مصطلحات موضوعية: | Household finance, Investment decisions, Investment behavior, Peer effects, Social networks |
| الوصف: | Peer effects can lead to better financial outcomes or help propagate financial mistakes across social networks. Using unique data on peer relationships and portfolio composition, we show considerable overlap in investment portfolios when an investor recommends their brokerage to a peer. We argue that this is strong evidence of peer effects and show that peer effects lead to better portfolio quality. Peers become more likely to invest in funds when their recommenders also invest, improving portfolio diversification compared to the average investor and various placebo counterfactuals. Our evidence suggests that social networks can provide good advice in settings where individuals are personally connected. ; Peer effects can lead to better financial outcomes or help propagate financial mistakes across social networks. Using unique data on peer relationships and portfolio composition, we show considerable overlap in investment portfolios when an investor recommends their brokerage to a peer. We argue that this is strong evidence of peer effects and show that peer effects lead to better portfolio quality. Peers become more likely to invest in funds when their recommenders also invest, improving portfolio diversification compared to the average investor and various placebo counterfactuals. Our evidence suggests that social networks can provide good advice in settings where individuals are personally connected. |
| نوع الوثيقة: | report |
| وصف الملف: | application/pdf |
| اللغة: | English |
| العلاقة: | https://pure.au.dk/portal/en/publications/dffe0c5a-4afc-4ba3-9ca8-d622ed5c636aTest |
| الإتاحة: | https://pure.au.dk/portal/en/publications/dffe0c5a-4afc-4ba3-9ca8-d622ed5c636aTest https://pure.au.dk/ws/files/274965185/wp22_02.pdfTest |
| حقوق: | info:eu-repo/semantics/openAccess |
| رقم الانضمام: | edsbas.5649872D |
| قاعدة البيانات: | BASE |
| الوصف غير متاح. |