Survey_HHJ_2009

Abstract

The primary data set we are using in this study is administrative information from a large German discount brokerage firm. It covers the investments of 32,751 randomly selected individual customers who opened an account with the brokerage firm prior to January 2001 and kept the account active through June 2006. If customers opened multiple accounts we consolidated them into one single account. For each sampled customer we have information on date of birth, gender, marital status, profession (including status as employed or self-employed), zip-code of place of residence, nationality, and self-reported security-trading experience in years. All information was collected by the brokerage firm on the date of account opening and updated according to new information that the firm has obtained from the customer in the interim.