Report on Financial Investments of Italian Households. Behavioural Attitudes and Approaches - 2019 Survey (Rapporto 2019 sulle scelte di investimento delle famiglie italiane)
51 Pages Posted: 10 Jan 2020 Last revised: 6 May 2020
Date Written: October 31, 2019
English Abstract: The 2019 edition of the CONSOB Report on financial investments of Italian households presents evidence on the financial choices of a representative sample of 3,058 Italian households while significantly deepening the analysis of financial knowledge and individual attitudes. After the first Section on trends in household wealth, savings and financial inclusion, the second Section examines several personal inclinations that may deeply affect financial behaviours. In particular, self-evaluation on preference for numerical information, need for cognition, financial anxiety, self-efficacy and self-control are elicited, as well as the attitude towards optimism and generalised trust. These traits are found to be associated with financial knowledge, both actual and perceived, and risk preferences (Section 3) as well as financial control and saving habits (Section 4), investment choices and demand for investment advice (Section 5). The last Section of the Report focuses on respondents’ knowledge and interest in sustainable and responsible investments (SRIs). Overall, the evidence gathered confirms that much remains to be done in order to raise Italian households’ financial knowledge, the quality of their financial choices as well as their awareness of the need to improve their financial competencies.
Italian Abstract: Il Rapporto fornisce evidenze in merito a livello di conoscenze finanziarie, abitudini di investimento e domanda di consulenza finanziaria delle famiglie italiane. Il focus del Rapporto 2019 è dedicato agli investimenti socialmente responsabili.
Keywords: Behavioural Finance, Italian Households, Financial Knowledge, Investment Choices, Investment Habits, Saving Attitudes, Financial Advice, Investment Decision Making, Financial Anxiety, Financial Interest, Financial Information, Sustainable and Responsible Investments, SRI, ESG factors
JEL Classification: D1, D12, D14, G02
Suggested Citation: Suggested Citation