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Über dieses Buch

In this book, the relationship between financial decision-making and chronic regulatory focus is explored to provide a better understanding of consumer decisions. Financial decisions are modelled on the basis of assets and portfolios sensitive to particular regulatory foci. Studies in the book test whether participants select assets/portfolios that conform to their respective foci. In addition, given that gender, age and education can shape financial decisions, further hypotheses are put forth to explore whether these are related to asset and portfolio selection and regulatory focus. As consumers tend to make financial decisions prior to priming, this book diverts from previous research involving primed states of regulatory focus and instead explores the chronic state. The study employs two complementary instruments, the eye tracker and self-report, to explicate the hypotheses. As the main hypotheses were not supported, the author posits that the harsh worldwide financial climate may have acted as an external influence, moving participants to select assets and portfolios not aligned with their foci. This study marks a valuable contribution to the current literature concerning financial decision-making, the underlying motivational systems and external influences, and will promote further research in these areas. It offers an essential resource for academics and students interested in how regulatory focus interacts with financial decisions and the overarching economic climate.

Inhaltsverzeichnis

Frontmatter

Chapter 1. Introduction

This chapter outlines the structure of the study.
Navin Kumar

Chapter 2. Literature Review

This chapter provides the background for the book. The chapter begins with a brief overview of behavioural finance, covering the aspects of portfolio construction, investor segmentation and securities markets. A section on prospect theory and its relevance to financial theory ends the section on behavioural finance. Further, the key concepts of regulatory focus theory were explored. The chapter concludes with a summary and critical evaluation of studies coupling both regulatory focus theory and financial concepts.
Navin Kumar

Chapter 3. Theoretical Framework

This chapter begins with the development of the hypotheses, which regard the relationship between chronic regulatory focus with asset (H1) and portfolio (H2) allocation. The dependent variable (asset and portfolio allocation), independent variable (chronic regulatory focus) and the control variables (gender, age group, ethnicity, marital status, education and financial literacy) will then be reviewed. The means of measurement for these variables will then conclude the chapter.
Navin Kumar

Chapter 4. Research Methodology

This chapter starts with defining the research methodology used to conduct the research; experimental design. It is followed by an overview of the ethical considerations involved. The procedure used will then be outlined, with a section on sample selection and allocation scenarios. A brief summary of the statistical methods used concludes the chapter.
Navin Kumar

Chapter 5. Results

This chapter first outlines the demographic profile for the participants and the descriptives for chronic regulatory focus, financial literacy, eye tracker—asset selection, eye tracker—portfolio selection, self-report—asset selection and self-report—portfolio selection. Tests of the hypotheses then follow, first with the eye tracker as the measure then followed by the self-report. The chapter is concluded with a section on the further analysis conducted. The further analysis primarily regards the gender and education variables, along with analysis into the effect of the unfavourable world financial outlook.
Navin Kumar

Chapter 6. General Discussion

This chapter commences with a discussion of the key findings, the validity of the hypotheses and insights from the eye tracking analysis. This is followed by a discussion of the other relevant findings in the experiment.
Navin Kumar

Chapter 7. Conclusion

This chapter begins with a brief summary of the results, followed by the limitations and opportunities for future research. A section on the concluding statements then bookends the thesis.
Navin Kumar

Backmatter

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