Determinants of risk taking and investment decision delegation - Empirical evidence from private banking customers

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dc.contributor Aalto University en
dc.contributor Aalto-yliopisto fi Laukkanen, Tiina 2012-02-29T02:30:36Z 2012-02-29T02:30:36Z 2012
dc.description.abstract PURPOSE OF THE STUDY The objective of this study is to examine the differences between private banking customers using discretionary portfolio management and the ones using consultative investment advice, and investigate how demographic and investor-type characteristics affect risk taking and investment decision delegation. This study continues the existing studies about investors’ investment decision delegation and risk taking. The paper reveals new information about the determinants affecting the relinquishment of control in financial decision making and risky asset allocations by examining a unique data set of wealthy individual investors. DATA The data of this study is gathered from several banking databases of a large commercial bank operating in Finland. The data set covers demographic data about individual private banking customers as well as information on customers’ demand analyses and actual investment portfolio allocations as per April 18, 2011. No part of the data contains information which can be connected to any individual customer. RESULTS Findings of this study indicate that the degree of customer participation in managing investments and an investor’s self-communicated risk profile seem to have an effect on risky asset allocation. Moreover, it appears that consultative investment advice users are more likely to have larger investment portfolios and higher amount invested in stock markets. On the other hand, discretionary portfolio management users are more likely to be male and have larger risky share in their portfolios. en
dc.format.extent 85
dc.language.iso en en
dc.title Determinants of risk taking and investment decision delegation - Empirical evidence from private banking customers en
dc.type G2 Pro gradu, diplomityö fi Kauppakorkeakoulu fi School of Economics en
dc.contributor.department Department of Finance en
dc.contributor.department Rahoituksen laitos fi
dc.subject.keyword Private banking
dc.subject.keyword risk taking
dc.subject.keyword risky share
dc.identifier.urn URN:NBN:fi:aalto-201203011257
dc.type.dcmitype text en
dc.programme.major Finance en
dc.programme.major Rahoitus fi
dc.type.ontasot Master's thesis en
dc.type.ontasot Pro gradu tutkielma fi
dc.subject.helecon rahoitus
dc.subject.helecon financing
dc.subject.helecon pankit
dc.subject.helecon banks
dc.subject.helecon riskienhallinta
dc.subject.helecon risk management
dc.subject.helecon sijoitukset
dc.subject.helecon investments
dc.subject.helecon päätöksenteko
dc.subject.helecon decision making
dc.ethesisid 12746 2012-02-07
dc.location P1 I

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