Employees' investment behaviors in a company based savings plan

Nicolas Aubert () and Thomas Rapp

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Abstract: This paper investigates the investment behaviors of 44,649 employees working in a CAC 40 index listed company. The company savings plan offers its employees a choice among various asset categories generally listed by financial institutions. We first describe employees' saving behaviors for each asset category offered within the company savings plan. We then focus on the individual determinants of employees' participation in each asset category and the total amount invested in each asset category. We finally investigate the individual determinants of portfolio breadth in terms of number of funds selected and number of asset categories selected. We document extreme saving strategies such as high investment in company stocks. We find the existence of a positive association between the number of funds offered, and the number of funds chosen within the plan. Our results emphasize how several proxies of human capital are associated with company-based investment strategies.

Keywords: individual investors; Employee savings; household finance; Epargne salariale; finance des ménages; investisseurs individuels (search for similar items in EconPapers)
Date: 2010
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00454018v1
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Citations: View citations in EconPapers (6)

Published in Finance, 2010, ⟨10.3917/fina.311.0005⟩

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Journal Article: Employee's investment behaviors in a company based savings plan (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:halshs-00454018

DOI: 10.3917/fina.311.0005

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