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Does sophistication affect long-term return expectations? Evidence from financial advisers' exam scores
(2013-01-22)
We use unique data fromfinancial advisers’ professional exam scores and combine it with other variables to create an index of financial sophistication. Using this index to explain long-term stock return expectations, we ...
Financial education, literacy and investment attitudes
(2015-05-01)
Based on a sample of university students, we provide field and laboratory evidence that a small scale training intervention has both a statistically and economically significant effect on subjective and objective assessments ...
Financial Education for the Disadvantaged? A Review
(2018-04-20)
In contrast to the popularity of financial education interventions worldwide, studies on the economic effects of those interventions report mixed results. With a focus on the effect on disadvantaged groups, we review both ...
Financial Literacy and Self-Control in FinTech: Evidence from a Field Experiment on Online Consumer Borrowing
(2019-10-14)
We report the results of a longitudinal intervention with students across five universities in China designed to reduce online consumer debt. Our research design allocates individuals to either a financial literacy treatment, ...
Gender Differences in Financial Advice
(2015-03-04)
We show that financial advisors recommend more costly products to female clients, based onminutes from about 27,000 real-world advisory meetings and client portfolio data. Funds recommended to women have higher expense ...