Is there Swissness in Investment Decision Behavior and Investment Competence?

Financial Markets and Portfolio Management, August 2016, Volume 30, Issue 3, pp 233–275

28 Pages Posted: 31 Jan 2014 Last revised: 1 Nov 2016

See all articles by Kremena Bachmann

Kremena Bachmann

University of Zurich - Department of Banking and Finance; Zurich University of Applied Sciences

Thorsten Hens

University of Zurich - Department of Banking and Finance; Norwegian School of Economics and Business Administration (NHH); Swiss Finance Institute

Date Written: February 1, 2016

Abstract

Based on a large international survey we analyze how German- French- and Italian-speaking Swiss differ in their investment decision behavior and investment competence as compared to their closest neighbors abroad speaking the same language. Although language may be closer to the individual self than the country of residence, we find that there are greater similarities in the decision behavior of Swiss speaking different languages than between Swiss and their linguistically closest neighbors abroad. These similarities hold also for the emotional investment competence and to some extend also for the knowledge-based competence. We conclude that there is Swissness in the decision behavior as well as in the emotional investment competence. The latter is associated with regional differences in the relationship to investment advisors.

Keywords: Swissness, Financial Literacy, Behavioral Finance, Cultural Finance

JEL Classification: D10

Suggested Citation

Bachmann, Kremena and Hens, Thorsten, Is there Swissness in Investment Decision Behavior and Investment Competence? (February 1, 2016). Financial Markets and Portfolio Management, August 2016, Volume 30, Issue 3, pp 233–275. Available at SSRN: https://ssrn.com/abstract=2388174 or http://dx.doi.org/10.2139/ssrn.2388174

Kremena Bachmann (Contact Author)

University of Zurich - Department of Banking and Finance ( email )

Plattenstrasse 32
CH-8032 Zurich, Zurich 8032
Switzerland

Zurich University of Applied Sciences ( email )

Institut fuer Angewandte Medienwissenschaft
Zur Kesselschmiede 35
Winterthur, CH 8401
Switzerland

Thorsten Hens

University of Zurich - Department of Banking and Finance ( email )

Plattenstrasse 32
Zurich, 8032
Switzerland
+41-44 634 37 06 (Phone)

Norwegian School of Economics and Business Administration (NHH)

Helleveien 30
Bergen, 5045
Norway

Swiss Finance Institute

c/o University of Geneva
40, Bd du Pont-d'Arve
CH-1211 Geneva 4
Switzerland

Register to save articles to
your library

Register

Paper statistics

Downloads
164
Abstract Views
1,159
rank
183,069
PlumX Metrics