Conduct of Private Investors

Part A: Observation of investors´ information behaviour through a standardised category system.

Weighing process; number of alternatives; number of consequences; number of information units; investment amount in TDM; decision rules; KO criterion; restriction; internal filters/investment objectives; number of filters; observed delegation of investment forms to an advisor; habitual investment (none, current account, savings account, time deposit, certificate, savings bank certificate, federal treasury certificate, financing treasury certificate, bearer bond of savings bank, annuities, pension fund, equity fund, shares); chosen investment form; incrementalism (difference between habit and chosen investment form); aspiration level.

Part B: Questionnaire

Frequency of information about current money matters; source of information (acquaintances and relatives, daily newspapers, trade journals, consumer organisations, brochures and advertisements of savings banks/banks, personal advice from customer advisors); number of sources of information; frequency of money investment; knowledge about selected forms of investment (fixed-term deposits, fixed-income securities (bonds), shares, real estate funds, options);
Personal investment behaviour: Security orientation, return orientation (willingness to take higher risk for higher return, return more important than security for profit maximisation reasons); simplicity orientation, involvement (good knowledge of money matters, intensive involvement with money matters, interesting and exciting money matters), delegation of investment forms to an advisor, liquidity orientation, signal effect of advice from friends, acquaintances and relatives when investing money).

Demography: sex; age (classified); years of education.

Part C: Additional information by savings bank

Information on account structure (use of current account, fixed-term deposit, savings account, savings bank certificate, certificate, custody account) and custody account structure (ownership of shares, bonds, German Government securities, investment fund units); use of other forms of investment (options, futures, etc.); amount of financial assets at the savings bank in TDM).

Additionally coded: Case number; advisor.