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01-06-2014 | Empirical article

Determinates of financial behavior: insights into consumer money attitudes and financial literacy

Authors: Tsui-Yii Shih, Sheng-Chen Ke

Published in: Service Business | Issue 2/2014

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Abstract

As consumer requirements for financial services permeate society, they link various financial institutions more closely together, developing divergent financial products. This research develops a conceptual framework for discussing consumer money attitudes, financial literacy regarding financial decisions, and financial behavior. Study findings suggest that consumers who have retention-planning and achievement-esteem attitudes toward money make high-risk financial decisions; anxiety toward money tends to exist mainly in low-risk investors. Financial literacy affects consumer financial behaviors, and demographic variables play segmentation roles. Theoretical contributions and management implications are provided in the study for related research, education departments and financial firms.

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Title: Determinates of financial behavior: insights into consumer money attitudes and financial literacy
Authors: Tsui-Yii Shih
Sheng-Chen Ke
Publication date: 01-06-2014
Publisher: Springer Berlin Heidelberg
Published in: Service Business / Issue 2/2014
Print ISSN: 1862-8516
Electronic ISSN: 1862-8508
DOI: https://doi.org/10.1007/s11628-013-0194-x

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