%0 Journal Article
%T Risk profile using PCM and RSM
%A sergio ortobelli lozza
%A stefano gambirasi
%A valeria caviezel
%J -
%D 2012
%R DOI Code: 10.1285/i20705948v5n3p327
%X In this paper we analyze the investorsĄ¯ risk profile in order to meet the minimal requirements that Italian financial institutions must satisfy by law. We focus particularly on three latent traits of the investorĄ¯s risk profile: knowledge of financial instruments, the investorĄ¯s personal predisposition to risk/earn, and the investorĄ¯s temporal horizon. We specifically identify a questionnaire whose items describe different characteristics of these three latent variables. In order to take into account the investorĄ¯s preferences and his/her psychological attitude we propose analyzing the risk profile questionnaire with two different sub-models of the polytomous Rasch model: the Partial Credit Model (PCM) and the Rating Scale Model (RSM). Finally, we discuss the possible uses of the proposed analysis in a financial context
%K MiFID
%K risk profile
%K predisposition to risk/earn
%K partial credit model
%K rating scale model
%U http://siba-ese.unisalento.it/index.php/ejasa/article/view/12148