A5071365493- Financial Markets and Investment Strategies
- Banking stability, regulation, efficiency
- Corporate Finance and Governance
- Financial Literacy, Pension, Retirement Analysis
- Housing Market and Economics
- Endometriosis Research and Treatment
- Uterine Myomas and Treatments
- Intestinal and Peritoneal Adhesions
- Ovarian cancer diagnosis and treatment
- Endometrial and Cervical Cancer Treatments
- Corporate Governance and Management
- Global Financial Crisis and Policies
- Hernia repair and management
- Minimally Invasive Surgical Techniques
- Decision-Making and Behavioral Economics
- Auditing, Earnings Management, Governance
- Economic Theory and Policy
- Gynecological conditions and treatments
- Corporate Governance and Law
- Surgical Simulation and Training
- Surgical Sutures and Adhesives
- Digital Platforms and Economics
- Monetary Policy and Economic Impact
- Complex Systems and Time Series Analysis
- Market Dynamics and Volatility
Leibniz Institute for Financial Research SAFE
2015-2024
Goethe University Frankfurt
2015-2024
National Bureau of Economic Research
2017-2024
University of Chicago
2017-2024
International Paper (United States)
2023-2024
Frauenklinik an der Elbe
2015-2024
Radboud University Nijmegen
2023
Deutsche Bundesbank
2023
Indiana University Bloomington
2021
Indiana University
2021
Journal Article Is Unbiased Financial Advice to Retail Investors Sufficient? Answers from a Large Field Study Get access Utpal Bhattacharya, Bhattacharya Search for other works by this author on: Oxford Academic Google Scholar Andreas Hackethal, Hackethal Simon Kaesler, Kaesler Benjamin Loos, Loos Steffen Meyer The Review of Studies, Volume 25, Issue 4, April 2012, Pages 975–1032, https://doi.org/10.1093/rfs/hhr127 Published: 01 2012
Background: Intra-abdominal adhesions arise after more than 50% of all abdominal operations and are an important source postoperative complications.They attach normally separated organs to each other can cause major problems for the affected patients by giving rise small bowel obstruction, chronic pelvic pain, dyspareunia, infertility, higher complication rates in subsequent operations.They also a frequent medicolegal conflict.Thus, every physician should be familiar with their mechanism...
Abstract Cryptocurrencies have received growing attention from individuals, the media, and regulators. However, little is known about investors whom these financial instruments attract. Using administrative data, we describe investment behavior of individuals who invest in cryptocurrencies with structured retail products. We find that cryptocurrency are active traders prone to biases hold risky portfolios. Cryptocurrency more likely stocks high media sentiment employ heuristics technical...
This paper is an early response to Campbell's (2006) call analyze the role of financial intermediaries in household finance. We first sketch a basic theory advice that proceeds from cognitive errors and costly information acquisition. then derive hypotheses about honest deceptive test them on unique administrative dataset large German retail bank. find clients advised are older, wealthier, more risk averse likely be female. Financial enhances portfolio diversification, makes investor...
The German corporate governance system has long been cited as the standard example of an insider-controlled and stakeholder-oriented system. We argue that despite important reforms substantial changes individual elements system, main characteristics traditional a whole are still in place. However, our opinion changing role big universal banks undermines stability Germany. Therefore breakdown leading to control vacuum or fundamental change capital market-based could be offing.
Why do retail investors trade? To analyze the impact of professional advice on trading, we combine administrative and survey data from a large German bank. Investors who report that they always rely their advisor's recommendations have 25-percent-higher trading volume. Also, for fraction products which advisors received sales targets is around one third larger. are less-educated less interest in numbers, trust own financial expertise more advisor likely to perceive receive as fair.
Based on data gathered from 27,000 real-world meetings between financial advisors and clients of a large German bank, we show that offer more self-serving advice to women, while men are likely receive sales fee rebates less be recommended expensive bank-owned funds. Additional client advisor surveys provide evidence consistent with statistical discrimination based gender as proxy for sophistication female exhibiting lower literacy, confidence, price sensitivity. Moreover, report confidence...
We use two data sets, one from a large brokerage and another major bank, to ask: (i) whether financial advisors are more likely be matched with poorer, uninformed investors or richer experienced investors; (ii) how advised accounts actually perform relative self-managed accounts; (iii) the contribution of independent bank is similar. find that offer on average lower net returns inferior risk-return tradeoffs (Sharpe ratios). Trading costs contribute outcomes, as feature higher turnover,...
This paper measures liquidity creation of German savings banks over the period 1997-2006 and tries to detect possible influence factors thereof. Using two recently developed techniques measure creation, so called "BB-Measure" as by Berger Bouwman in 2009 "Liquidity Transformation" (LT) Gap Deep Schaefer 2004, we are able determine both absolute amounts created for economy well relative magnitudes maturity transformation observed perform create liquidity. a multivariate dynamic panel...
We explore the impact of weather on trading by individual investors. Over a time span 94 months, we analyze daily records Controlling for various investor- and market-specific factors, find two-fold effect weather. first observe that investor sentiment, as measured purchases relative to sales, is significantly higher days with good In addition, retail investors generally trade more bad days. This result consistent notion incur an opportunity cost spending
Using data from a large German brokerage, we find that individuals investing in passive exchange-traded funds (ETFs) do not improve their portfolio performance, even before transaction costs. Further analysis suggests this is because of poor ETF timing as well selection (relative to the choice low-cost, well-diversified ETFs). An exploration investor heterogeneity shows though investors who trade more have worse timing, no groups benefit by using ETFs, and will lose ETFs.
ABSTRACT We study the conflict of interest that arises when a universal bank conducts proprietary trading alongside its retail banking services. Our data set contains stock holdings every German and those their corresponding clients. investigate (i) whether banks sell stocks from portfolios to customers, (ii) subsequently underperform, (iii) customers engaging in earn lower portfolio returns than peers. present affirmative evidence for all three questions conclude can, fact, be detrimental investors.
BACKGROUNDTransmural uterine compression suturing methods are a fertility-preserving alternative in patients with atonic primary postpartum hemorrhage (PPPH), which does not respond to manual or drugs. This study evaluated the effectiveness of modified U-suturing technique effecting PPPH after Cesarean section.