Investment decisions of private households and the role of financial advice [Elektronische Ressource] / Sina Borgsen

Sina Borgsen Investment Decisions of Private Households and the Role of Financial Advice Inauguraldissertation zur Erlangung des akademischen Grades eines Doktors der Wirtschaftswissenschaften der Universität Mannheim vorgelegt im Frühjahrs-/Sommersemester 2010 ii Dekan: Dr. Jürgen M. Schneider Referent: Professor Dr. Dr. h.c. Martin Weber Korreferent: Professor Dr. Bernd Helmig Tag der mündlichen Prüfung: 8. November 2010iii Meiner Familie 1 Acknowlegements It is a pleasure to thank the many people who made this thesis possible. I am very grateful to my supervisor, Prof. Dr. Dr. h.c. Martin Weber, for countless helpful suggestions, numerous stimulating discussions, invaluable motivating support, and for some-times pushing me into the right direction. Many thanks are also due to Prof. Dr. Bernd Hel-mig, my second examiner. I would like to thank current and former colleagues at the University of Mannheim for many inspiring discussions, helpful comments and ideas: Anders Anderson, Ph.D., Dr. Martina Corsten, Christian Ehm, Dr. Silvia Elsland, Daniel Foos, Prof. Dr. Markus Glaser, Jun.-Prof. Dr. Jens Grunert, Heiko Jacobs, Christine Kaufmann, Dr. Volker Kleff, Jun.-Prof. Dr. Ale-xander Klos, Prof. Dr. Thomas Langer, Christoph Merkle, Sebastian Müller, Prof. Dr. Markus Nöth, Prof. Dr. Lars Norden, Dr. Alen Nosic, Dr. Adelson Pinon, Dr.