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The Belief System and Behavior of Financial Advisors After a Market Disruption

Hensler, Philipp A.
http://rave.ohiolink.edu/etdc/view?acc_num=casedm1568710731430581

Abstract Details

2013, Doctor of Management, Case Western Reserve University, Weatherhead School of Management.
The static portfolio construction process is an efficient and rational choice to allocate clients’ assets in well behaved markets. However, if markets become disruptive, like in 2008, relying on historic risk/return relationships becomes challenging and active financial advisor intervention necessary. The literature is silent about how financial advisors learn from such dislocations and how it affects their asset allocation process. In our qualitative inquiry, semi-structured interviews with 30 US financial advisors yielded insights into what shaped their decision making process We subsequently conducted, to our knowledge, the first empirical study of mindfulness with respect to financial advisors and their post 2008 financial crisis behavior. Our hypotheses were derived from semi-structured interviews with financial advisors, the results of which provided the framework for modeling advisor behavior in the aftermath of the 2008 financial crisis. Survey responses from 346 U.S. financial advisors revealed surprising insights about the effects of individual and organizational mindfulness on actual and perceived performance levels during the turbulent 2008-2012 period.
Tony Lingham, Ph.D. (Advisor)
Finance
adaptability; mindfulness; learning; market dislocation; rational choice

Recommended Citations

Citations

  • Hensler, P. A. (2013). The Belief System and Behavior of Financial Advisors After a Market Disruption [Doctoral dissertation, Case Western Reserve University]. OhioLINK Electronic Theses and Dissertations Center. http://rave.ohiolink.edu/etdc/view?acc_num=casedm1568710731430581

    APA Style (7th edition)

  • Hensler, Philipp. The Belief System and Behavior of Financial Advisors After a Market Disruption. 2013. Case Western Reserve University, Doctoral dissertation. OhioLINK Electronic Theses and Dissertations Center, http://rave.ohiolink.edu/etdc/view?acc_num=casedm1568710731430581.

    MLA Style (8th edition)

  • Hensler, Philipp. "The Belief System and Behavior of Financial Advisors After a Market Disruption." Doctoral dissertation, Case Western Reserve University, 2013. http://rave.ohiolink.edu/etdc/view?acc_num=casedm1568710731430581

    Chicago Manual of Style (17th edition)

casedm1568710731430581
254
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This open access ETD is published by Case Western Reserve University Doctor of Management and OhioLINK.