Cecilia Hermansson

Cecilia Hermansson
KTH Royal Institute of Technology | KTH · Division of Real Estate Economics and Finance

PhD

About

15
Publications
4,958
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293
Citations

Publications

Publications (15)
Article
Full-text available
This paper investigates the effects of learning channels on stock market participation. More specifically, we investigate the direct effects of learning about financial matters from one's private network, financial advisors, and the media, as well as the moderating effects of financial literacy on the relationship between learning from these channe...
Article
Full-text available
We investigate and compare the effects of financial literacy and financial interest on risk tolerance, evaluating not only at the means, but also the whole distribution. We use a unique sample of 12,156 Swedish bank customers combining bank-register data with survey data. Results show that both financial literacy and financial interest are associat...
Article
Full-text available
Purpose This paper aims to analyze how nearby property prices are affected by new construction projects in Stockholm. If there is an impact on property prices, the authors endeavor to investigate whether the effects vary among different areas within the municipality, for different groups of inhabitants and for different types of housing (i.e. publi...
Article
Purpose This paper investigates the viability of the relationship-oriented business model. Specifically, it examines the effects of bank customers' satisfaction, loyalty, and trust in bank advisors on two client-level performance measures; client-level non-interest revenue, and client-level revenue on net interest spread. It further investigates ho...
Article
Full-text available
Purpose The purpose of this paper is to determine how three relational attributes – duration, context and trust – are subjectively perceived by bank customers, and how these affect their saving behavior, as defined by monthly flows to mutual funds and the financial products bought and held in stock. Design/methodology/approach The authors use a...
Article
This paper evaluates risk preference measures by contrasting subjective or self-assessed risk with objective risk, as implicated by bank customers’ actual portfolio allocation. Using a detailed data set of 7,234 bank customers, we find that subjective risk measures can explain and predict objective risk, but that the relationship is relatively weak...
Article
Purpose The purpose of this paper is to understand if and how saving motives can predict bank customers’ use of financial advisory services. In addition, it analyzes possible gender differences regarding this relationship. Design/methodology/approach The study uses a large and unique sample of Swedish bank customers, combining objective bank regis...
Article
Purpose Customer interactions with sellers change as social interactions in society change. The old dichotomy between transaction and relation exchange may no longer be valid as customers form relationships with sellers in new ways. It is against this background that we study how customers’ subjective perception of relational exchange appears in o...
Research
Full-text available
En ny avtalsrörelse inleds i höst och industriparternas förhandlingar ska vara avslutade före den 31 mars 2017. I enlighet med Industriavtalet har Industrins Ekonomiska Råd fått i uppdrag att lägga fram en rapport som underlättar förhandlingarna genom att bidra med kunskap om de ekonomiska förutsättningarna inför kommande avtalsrörelse. Tyngdpunkte...
Article
Earlier research points to negative effects on the risk-weighted return from using financial advisors; moreover, with the incentives given to advisors they seem to increase account turnover as well as the saving volumes directed to mutual funds. In this study, the effects on saving behavior are analyzed and defined as the number of financial produc...
Research
Full-text available
Tyngdpunkten i rapporten ligger på en beskrivning av dessa förutsättningar med avseende på svensk industri och dess anställda. Det aktuella internationella och svenska konjunkturläget samt de överblickbara konjunkturutsikterna för de närmaste åren beskrivs och analyseras i rapporten. Rapporten innehåller en historisk tillbakablick av kostnadsläge...
Article
Full-text available
Purpose – The purpose of this paper is to develop a model of bank advisor/customer relationships and customer saving behavior. Design/methodology/approach – The research is a theoretical review and model development of savings behavior and bank advisor/customer relationships. The review is used for the development of a model of bank advisor/custom...

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