Anlageverhalten auf Finanzmärkten

Rolf Lüde

Wirtschaftsdienst, 2013, vol. 93, issue 5, 328-336

Abstract: Despite a global homogenisation of financial markets, some characteristic national structures of private investors’ behaviour have been preserved. The underlying persistence of observable differences is due to the embeddedness of these markets in historical, institutional and cultural frameworks. Thus, the perception of financial risk is a function of culturally inherited social norms and conventions attached to different financial risk-taking domains. Private investors’ behaviour is guided by heterogeneous versions of rationality, thus explaining why households in bank-based systems like Germany provide banks with “patient capital” even at the price of lower return expectations. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2013

Keywords: D19; E21; Z1 (search for similar items in EconPapers)
Date: 2013
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DOI: 10.1007/s10273-013-1529-x

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