To Invest or Not to Invest?: The Roles of Product Information, Attitudes Towards Finance and Life Variables in Retail Investor Propensity to Engage with Financial Products
To Invest or Not to Invest?: The Roles of Product Information, Attitudes Towards Finance and Life Variables in Retail Investor Propensity to Engage with Financial Products
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DOI：
10.1111/1467-8551.12348
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发表时间：
2019-03
期刊：
影响因子：
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通讯作者：
Carola Hillenbrand;A. Saraeva;K. Money;Chris Brooks
中科院分区：
文献类型：
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作者：
Carola Hillenbrand;A. Saraeva;K. Money;Chris Brooks
在目前的文献中，除了对金融风险的态度（ATFR）之外，对影响零售投资者（RI）参与金融产品倾向的因素知之甚少。本研究探讨了一些变量的作用，按主题分为特定领域（产品信息和对金融的态度）和一般影响因素（生活变量）。2017年收集的970个英国RI的数据表明，当按主题分析时，与产品信息相关的变量成为最重要的影响因素。虽然ATFR的相关性在本研究的结果中也得到了证实，但结果通过说明有关产品的信息以及生活变量的重要性，特别是负面情绪和感觉寻求，为财务决策的情况带来了一定的生活背景，从而突出了对潜在弱势群体的照顾责任。研究报告讨论了研究结果对研究、实践和政策的影响。
Little is known in the current literature about the factors affecting retail investor (RI) propensity to engage with financial products other than their attitude towards financial risk (ATFR). This study explores the role of a number of variables, thematically grouped into domain-specific (product information and attitudes towards finance) and general impact factors (life variables). Data from 970 UK-based RIs, collected in 2017 across a variant of products, suggest that when analysed thematically, variables related to product information emerge as the most important group of influence factors. While the relevance of ATFR is also vindicated in the findings of this study, the results bring a dose of life-context to situations of financial decision-making by illustrating that information about the product as well as life variables matter significantly, in particular negative emotions and sensation seeking – thereby highlighting a duty of care towards potentially vulnerable people. The study discusses implications arising from the findings in relation to research, practice and policy.