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Portrait psychologique de l'investisseur individuel en Europe

Author

Listed:
  • Werner De Bondt
  • Patrick Zurstrassen
  • Arianna Arzeni

Abstract

[fre] Comment les valeurs et croyances des investisseurs européens influencent-elles l’achat d’actifs et les stratégies d’investissement ? Jusqu’à récemment, on savait peu de choses sur cette question. Cet article résume les données, la méthodologie et les résultats d’une large enquête conduite sur le sujet par les auteurs. Plus de 3 100 investisseurs de six pays (Belgique, France, Allemagne, Italie, Espagne et Royaume-Uni) y ont participé. Les auteurs montrent que l’ensemble des valeurs et croyances, corrélé avec l’identité nationale, permet d’estimer les choix de portefeuille. Ces résultats ont d’importantes implications pour le marketing financier et l’élaboration de produits financiers. . Classification JEL : E21, G11, M31 [eng] A Psychological Portrait of the Individual Investor in Europe . How are the values and beliefs of European investors linked to the perceived attractiveness of asset classes and investment strategies ? Until recently, little was known about this question. We summarize the data, methods, and results of the largest survey study ever conducted. More than 3,100 investors in six countries (Belgium, France, Germany, Italy, Spain, and the United Kingdom) participated. As anticipated, we find that clusters of values and beliefs, correlated with national identity, predict portfolio choice. Our findings have important implications for financial marketing and product design. . JEL classifications : E21, G11, M31

Suggested Citation

  • Werner De Bondt & Patrick Zurstrassen & Arianna Arzeni, 2001. "Portrait psychologique de l'investisseur individuel en Europe," Revue d'Économie Financière, Programme National Persée, vol. 64(4), pages 131-143.
    • Handle: RePEc:prs:recofi:ecofi_0987-3368_2001_num_64_4_4954
    DOI: 10.3406/ecofi.2001.4954
    Note: DOI:10.3406/ecofi.2001.4954
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    References listed on IDEAS

    as
    1. Slovic, Paul, 1972. "Psychological Study of Human Judgment: Implications for Investment Decision-Making," Journal of Finance, American Finance Association, vol. 27(4), pages 779-799, September.
    2. De Bondt, Werner F. M., 1998. "A portrait of the individual investor," European Economic Review, Elsevier, vol. 42(3-5), pages 831-844, May.
    3. Tversky, Amos & Kahneman, Daniel, 1986. "Rational Choice and the Framing of Decisions," The Journal of Business, University of Chicago Press, vol. 59(4), pages 251-278, October.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    JEL classification:

    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions
    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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