Linked e-resources
Details
Table of Contents
Chapter 1: Financial risk tolerance: where does it all start from?1. A crossroad: why looking at risk tolerance?. 3 1.1. The economists' view.. 4 1.2. The macroeconomic perspective. 5 1.3. The regulator's view.. 6 2. Trends in financial risk tolerance. 9 2.1. Definitions of risk tolerance. 9 2.2. Risk tolerance determinants. 10 2.2.1. Socio-demographic factors. 10 2.2.2. Economic factors. 15 2.2.3. Personality psychology. 15 2.3. Measurement tools. 19 Box 1.1 The practitioner's view... 23 3. Conclusions and roadmap of the book. 24 References. 24 Chapter 2: Risk tolerance tools: from academia to regulation and back. 28 1. The Market in Financial Instruments Directive (MiFID) and its impact on risk tolerance measurement 28 1.1. Introducing MiFID.. 28 1.2. MiFID and the suitability questionnaire. 31 2. The academic debate after MiFID.. 35 2.1. Sociodemographic variables. 35 2.2. Life events. 37 2.3. Behavioral and personality factors. 38 2.4. Risk tolerance: stable trait or adaptive feature?. 39 3. The Market in Financial Instruments Directive 2 (MiFID2) 40 3.1. Mifid2, context and content. 40 3.2. Suitability and MiFID2. 41 3.3. Implementing the Directive: empirical evidence and practitioners' views. 42 4. The academic debate after MiFID2. 43 4.1. Socio-demographic factors. 44 4.2. Life events. 47 4.3. Behavioral and personality factors. 49 4.4. Risk tolerance: stable trait or adaptive feature?. 50 Box 2.1 The practitioner's view... 51 5. Taking stock and looking at the challenges ahead. 53 References. 53 Chapter 3: Challenges and opportunities in the regulation of financial instruments post Mifid2
Sustainable finance. 59 1. Sustainable finance in a sustainable Union. 59 1.1. Sustainable development in the European Union legislation. 59 1.2. From theory to action: the EU Action Plan on Sustainable development. 60 1.3. Setting the Plan into Action. 61 1.4. The Action plan and investor protection: taking stock and moving forward. 69 2. Investing in sustainability
investor preferences, risk tolerance and investment behavior. 70 2.1. Sustainability investment
where does Europe stand?. 70 2.2. Sustainable investors
who are they and why do they choose sustainable products?. 71 2.3. Are sustainable investors biased?. 79 3. Implications for financial risk tolerance and investment choices. 82 References. 83 Chapter 4: The digital challenge: how are new technologies shaping the financial industry?. 87 Abstract. 87 1. The technological revolution of the financial services industry. 87 1.1. The digitalization and open challenges. 87 2. Fintech. 88 2.1. A definition. 88 2.2. Fintech Users. 89 2.3. Fintech services. 89 2.4. The academic point of view on Fintech. 90 3. Open Banking and Open Finance. 92 3.1. A definition of Open Banking. 92 3.2. The evolution of Open Banking: towards Open Finance. 94 3.3. The academic point of view on Open Banking. 94 4. Robo advisory. 96 4.1. A definition of robo advisory services. 96 4.2. Business models for robo advisory. 97 4.3. The academic point of view on robo advisory. 98 5. The Regulatory Framework. 103 5.1. The Payment Services Directive (PSD2) 103 5.2. The revised Guidelines on Suitability by ESMA (2018) 104 6. Conclusions. 106 References. 107 Challenges and opportunities for the future investor
a practitioner's guide. 112 1. The survey. 112 1.1. Some reasons why. 112 1.2. Survey structure and participant pool 113 2. Survey results. 115 2.1. Participants overview.. 115 2.2. Sustainable finance. 116 2.3. Robo advisory and open finance. 118 Box 5.1 The practitioner's view... 120 3. Final discussion and conclusions. 123 4. Appendix
the questionnaire. 124 References. 132.
Sustainable finance. 59 1. Sustainable finance in a sustainable Union. 59 1.1. Sustainable development in the European Union legislation. 59 1.2. From theory to action: the EU Action Plan on Sustainable development. 60 1.3. Setting the Plan into Action. 61 1.4. The Action plan and investor protection: taking stock and moving forward. 69 2. Investing in sustainability
investor preferences, risk tolerance and investment behavior. 70 2.1. Sustainability investment
where does Europe stand?. 70 2.2. Sustainable investors
who are they and why do they choose sustainable products?. 71 2.3. Are sustainable investors biased?. 79 3. Implications for financial risk tolerance and investment choices. 82 References. 83 Chapter 4: The digital challenge: how are new technologies shaping the financial industry?. 87 Abstract. 87 1. The technological revolution of the financial services industry. 87 1.1. The digitalization and open challenges. 87 2. Fintech. 88 2.1. A definition. 88 2.2. Fintech Users. 89 2.3. Fintech services. 89 2.4. The academic point of view on Fintech. 90 3. Open Banking and Open Finance. 92 3.1. A definition of Open Banking. 92 3.2. The evolution of Open Banking: towards Open Finance. 94 3.3. The academic point of view on Open Banking. 94 4. Robo advisory. 96 4.1. A definition of robo advisory services. 96 4.2. Business models for robo advisory. 97 4.3. The academic point of view on robo advisory. 98 5. The Regulatory Framework. 103 5.1. The Payment Services Directive (PSD2) 103 5.2. The revised Guidelines on Suitability by ESMA (2018) 104 6. Conclusions. 106 References. 107 Challenges and opportunities for the future investor
a practitioner's guide. 112 1. The survey. 112 1.1. Some reasons why. 112 1.2. Survey structure and participant pool 113 2. Survey results. 115 2.1. Participants overview.. 115 2.2. Sustainable finance. 116 2.3. Robo advisory and open finance. 118 Box 5.1 The practitioner's view... 120 3. Final discussion and conclusions. 123 4. Appendix
the questionnaire. 124 References. 132.