TY  - UNPD
A1  - Kalda, Ankit
A1  - Loos, Benjamin
A1  - Previtero, Alessandro
A1  - Hackethal, Andreas
T1  - Smart(phone) investing? A within investor-time analysis of new technologies and trading behavior
T2  - SAFE working paper ; No. 303
N2  - Using transaction-level data from two German banks, we study the effects of smartphones on investor behavior. Comparing trades by the same investor in the same month across different platforms, we find that smartphones increase purchasing of riskier and lottery-type assets and chasing past returns. After the adoption of smartphones, investors do not substitute trades across platforms and buy also riskier, lottery-type, and hot investments on other platforms. Using smartphones to trade specific assets or during specific hours contributes to explain our results. Digital nudges and the device screen size do not mechanically drive our results. Smartphone effects are not transitory.
T3  - SAFE working paper - 303 
KW  - fintech
KW  - investor behavior
KW  - financial risk-taking
KW  - lottery-type assets
KW  - investment biases
KW  - trend chasing
KW  - spillover effects
Y1  - 2021
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/57395
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-573958
IS  - January 2021
PB  - SAFE
CY  - Frankfurt am Main
ER  -