Doctoral Dissertation Research: Investment Strategies in Comparative Context

博士论文研究：比较背景下的投资策略

• 批准号: 1129689
• 负责人: George Steinmetz
• 金额: $ 1万
• 依托单位: Regents of the University of Michigan - Ann Arbor
• 依托单位国家: 美国
• 项目类别: Standard Grant
• 财政年份: 2011
• 资助国家: 美国
• 起止时间: 2011-08-15 至 2013-07-31
• 项目状态: 已结题
• 来源: https://www.nsf.gov/awardsearch/showAward?AWD_ID=1129689&HistoricalAwards=false
• 关键词: Doctoral; Dissertation; Research; Investment; Strategies

SES - 1129689George Steinmetz (PI)Camilo Arturo Leslie (co-PI)University of MichiganDoctoral Dissertation Research: Investment Strategies in Comparative ContextAbstractThis study examines what makes clients trust in financial services firms in two countries. Sociological studies of client-firm trust are in short supply. However, research in behavioral economics as well as recent news reported in the financial pages suggests that trust (and lack thereof) has an important impact not only on financial markets but our economic system at large. By comparing defrauded, middle-class investors from the U.S. and Venezuela, this study attempts to identify how both general and country-specific factors worked in concert to induce clients to trust in firm that turned out to engage in fraudulent practices. Drawing its hypotheses from social science theories regarding the source of trust, this research tests the following propositions: 1. Trust is the outcome of both interpersonal and macro-institutional forces. 2. Trust is an affective and interpretive mental process that allows us to act where knowledge alone would be insufficient. 3. Trust is a function of social and network relationships. 4. Trust rests essentially in rational calculation and risk assessment. Through the use of semi-structured, face-to-face interviews (N = 100) with both investors and employees of a financial services firm, this research aims to test core hypotheses linked to competing theories against the facts of a complex, international case of trust creation and dissolution. Broader ImpactsThe broader impacts of this study are numerous and notable given the recent rise in Ponzi schemes in which a wide range of investors have been victimized. This study is likely to generate findings of interest to the financial industry as well as to policy makers. More concretely, this project could provide policy-makers with insights into how investors navigate client-firm relationships. Such knowledge could inform future rule-making in financial markets. Given the focus on comparing legal and regulatory regimes, socio-legal scholars and Latin American specialists may also find that the study speaks to their concerns. Insights could also help regulators and law enforcement personnel to flag fraud attempts in the future. Finally, findings regarding client-firm trust might be useful for educational materials intended to equip investors with tools to detect and avoid financial fraud in their own lives (e.g., financial literacy and financial safety programs).

SES -1129689 George Steinmetz（PI）Camilo Arturo Leslie（Co -Pi）密歇根大学分论文学会研究：比较上下文的投资策略，研究策略研究了研究客户对两国金融服务公司的信任。 客户企业信任的社会学研究缺乏供应。但是，《行为经济学以及金融页面上报道的最新新闻》的研究表明，信任（且缺乏信任）不仅对金融市场，而且对我们的经济体系都有重要影响。通过比较来自美国和委内瑞拉的中产阶级投资者的欺诈，这项研究试图确定一般和特定国家特定的因素如何协同工作，以诱使客户信任那些从事欺诈性实践的公司。 这项研究从社会科学理论中汲取了它的假设，该研究检验了以下命题：1。信任是人际关系和宏观内部力量的结果。 2。信任是一个情感和解释性的心理过程，使我们能够在仅仅知识不足的地方行事。 3。信任是社会和网络关系的函数。 4。信任基本上取决于合理计算和风险评估。通过使用与金融服务公司的投资者和员工的半结构化面对面访谈（n = 100），该研究旨在测试与竞争理论相关的核心假设，以反对复杂，国际信托创造和解散案件的事实。 鉴于庞氏骗局最近的增加，这项研究的更广泛影响是众多且值得注意的影响，其中广泛的投资者受到了伤害。 这项研究可能会引起金融业以及政策制定者感兴趣的发现。更具体地说，该项目可以为政策制定者提供有关投资者如何在客户公司之间的关系的见解。 这些知识可以为金融市场的未来规则制定提供信息。 鉴于重点是比较法律和法规制度，社会法律学者和拉丁美洲专家也可能会发现这项研究表达了他们的关注。洞察力还可以帮助监管机构和执法人员在将来提出欺诈尝试。最后，有关客户公司信任的发现可能对旨在为投资者配备工具来检测和避免自己生活中的财务欺诈的工具（例如，金融素养和金融安全计划）有用。