Investment goals and mental accounting in French retail clients

Marie-Hélène Broihanne and Hava Orkut

Finance, 2018, vol. 39, issue 1, 107-144

Abstract: Mental accounting is a cognitive process that guides individuals? personal financial decisions. Although well-documented, the investigation into how individuals form and select mental accounts, how these accounts evolve over time and are affected by environmental factors, has yet to be undertaken. In this paper, we identify how an external force, the MiFID questionnaire, may strengthen mental accounting. Based on a sample of more than 60,000 retail clients? questionnaire answers and banking records, we identify the determinants of the number of investment goals. We build a typology of retail clients? mental goals and show that the actual investment decisions of retail clients, fit their mental goals.

Keywords: budgeting; mental accounting; MiFID questionnaire; investment goals (search for similar items in EconPapers)
Date: 2018
References: Add references at CitEc
Citations: View citations in EconPapers (5)

Downloads: (external link)
http://www.cairn.info/load_pdf.php?ID_ARTICLE=FINA_391_0107 (application/pdf)
http://www.cairn.info/revue-finance-2018-1-page-107.htm (text/html)
free

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cai:finpug:fina_391_0107

Access Statistics for this article

More articles in Finance from Presses universitaires de Grenoble
Bibliographic data for series maintained by Jean-Baptiste de Vathaire ().