How Does Household Portfolio Diversification Vary with Financial Literacy and Financial Advice?: Financial Literacy and Household Portfolio Diversification

By H. Gaudecker. 2015

350 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/a65a3352173ae72d324c8991449a18695a8cafa9

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Citations in the corpus

Household Portfolio Underdiversification and Probability Weighting: Evidence from the Field (2018, neutral): “4 See, Blume and Friend (1975), Kelly (1995), Calvet, Campbell, and Sodini (2007), Mitton and Vorkink (2007), Goetzmann and Kumar (2008), and von Gaudecker (2015), Florentsen, Nielsson, Raahauge, and Rangvid (2019).”
How does financial literacy impact on inclusive finance? (2021, neutral): “006 Von Gaudecker HM (2015) How does household portfolio diversification vary with financial literacy and financial advice?”
Financial Literacy, Confidence and Financial Advice Seeking (2016, background): “Von Gaudecker (2015) has documented that most losses from insufficient iversification are suffered by non-advised investors with low financial literacy.”
Is conflicted investment advice better than no advice? (2020, background): “…Tufano (2009) and Del Guercio and Reuter (2014) use fund-level data to show that broker-sold mutual funds underperform direct-sold funds 4 For example, it is difficult to measure the net benefit of finance advice in Von Gaudecker (2015) without measures of counterfactual portfolio diversification.”
Does It Pay to Pay Attention (2018, background): “…trading performance has been linked to investors’ IQ (Grinblatt, Keloharju, and Linnainmaa (2012) and Korniotis and Kumar (2013)), education (Von Gaudecker (2015)), wealth (Calvet, Campbell, and Sodini (2007)), experience (Korniotis and Kumar (2011) and Nicolosi, Peng, and Zhu (2009)), and…”
Financial Literacy and Portfolio Dynamics (2016, background): “These magnitudes are in line with those estimated by Von Gaudecker (2015) for Dutch households.”
Financial literacy, financial advice, and financial behavior (2017, background): “…link between financial literacy and portfolio diversification: highly literate investors tend to manage their risks significantly better than the group of low literate individuals (e.g., Calvet et al. 2007; Goetzmann and Kumar 2008; Guiso and Jappelli 2008; von Gaudecker 2015; Clark et al. 2015).”
Presidential Address: Does Finance Benefit Society? (2015, positive): “This view is supported by Von Gaudecker (2015), who shows that financially illiterate workers benefit from financial advice: they gain roughly 50 bps of extra return per given level of risk.”
Financial Literacy, Portfolio Choice and Financial Well-Being (2016, background): “However, Gaudecker (2015) finds that people with below-median financial literacy trust their own decision-making capabilities and lose an expected 50 basis points (0.5”
Building financial resilience through financial and digital literacy in South Asia and Sub-Saharan Africa (2020, positive): “…investment, and retirement planning behaviors (Jappelli & Padula, 2013; Lusardi, Michaud, & Mitchell, 2017; Lusardi & Mitchell, 2014; Stolper & Walter, 2017; Van Rooij, Lusardi, & Alessie, 2011; von Gaudecker, 2015) or borrowing behaviors (Disney & Gathergood, 2013; Lusardi & Tufano, 2015).”
Heterogeneity and Persistence in Returns to Wealth (2018, positive): “This finding is consistent with Bianchi (2018), von Gaudecker (2015) and Deuflhard, Georgarakos, and Inderst (2018), who find a positive correlation between measures of financial literacy and the return to investments among French and Dutch investors, but with reference to a specific asset.”
Financial literacy: A systematic review and bibliometric analysis (2020, positive): “The role of professional financial advisors in deflating losses from inferior investment decisions is also substantiated in the research (Gaudecker, 2015), but financial advice can only serve as a complement to financial literacy (Collins, 2012).”
Financial literacy and savings decisions by adult financial consumers in Zimbabwe (2017, neutral): “The majority of studies analysing the effects of financial literacy on financial outcomes have been confined to developed countries (Lusardi and Mitchell, 2007; Bucher-Koenen and Lusardi, 2011; van Rooij et al., 2011a,b; Jappelli and Padula, 2013; Landerretche and Martinez, 2013; Gaudecker, 2015).”