Are all professional investors sophisticated?

Existing empirical evidence is inconclusive whether professional investors show moresophisticated behavior than individual investors. Therefore, we study two importantgroups of professional investors and compare them to laymen by way of a survey coveringabout 500 investors. We find that some professionals, i.e. institutional investors, behavemore sophisticated than laymen, whereas the less researched investment advisorsseem to do even worse.[...]

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Year of publication:	2009-05-01
Authors:	Menkhoff, Lukas ; Schmeling, Maik ; Schmidt, Ulrich
Institutions:	Universität <Hannover> / Wirtschaftswissenschaftliche Fakultät , 10064362-0
Subject:	Investor \| Kontrolle

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Extent:	198656 bytes 31 p. application/pdf
Series:	Wirtschaftswissenschaftliche Fakultät der Leibniz Universität Hannover - Diskussionspapiere Nummer 397
Type of publication:	Book / Working Paper
Language:	German
ISSN:	0949-9962
Classification:	Corporate finance and investment policy. General ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10005867422