Does advertising strategy matter in influencing mutual fund purchase?

Dey, Dipanjan Kumar; Chauhan, Yogesh K.; Chakraborti, Rajdeep

doi:10.1057/fsm.2014.29

Cited by 17 publications

(10 citation statements)

References 49 publications

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“…Intention can thus be construed as a predictor of behaviour. Several studies involving financial products have used investment intention as a dependent variable to measure the intention to invest (Dey et al, 2015;Kozup et al, 2008;Lim et al, 2013). According to the TPB (Ajzen, 1991), intentions precede behaviour (represented by actual equity holding in our study) we can hypothesise that: H1.…”

Section: Conceptual Backgroundmentioning

confidence: 79%

Attitudinal factors, financial literacy, and stock market participation

Sivaramakrishnan

Srivastava

Rastogi

2017

IJBM

180

150

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Purpose The purpose of this paper is to study the influence of factors such as financial literacy on a consumer’s investment decisions, particularly in the stock market. Based on two empirical studies, the theory of planned behaviour (TPB) was used to understand stock market participation (SMP) in India while developing a model to represent the relationships between the various factors. Consumer financial literacy was conceptualised to be a part of perceived behavioural control and included in the TPB. Design/methodology/approach A mixed methods research was followed where qualitative research preceded a quantitative survey-based study. In-depth interviews were conducted with investors and experts, results of which, when combined with the literature review, revealed seven variables including financial literacy which were pooled into three distinct groups based on the TPB. Responses obtained from 506 retail investors from four cities in India were analysed. Structural equation modelling was used to test the models and arrive at a final empirical model. Findings Results of the study indicated that investment intention predicts actual investments in the stock market (which represented behaviour). Financial literacy – both subjective and objective – were also found to be significant influencers on intention while only objective financial literacy seemed to affect behaviour. Three variables – perception of regulator, risk avoidance, and hassle factor – were combined to form a second-order construct which was named “Attitude to Investment Behaviour”. This had a negative impact on intention to invest in the equity markets. Financial well-being seemed to have a negative impact on intention while having a positive relationship with behaviour. Practical implications The results present significant investor behaviour and policy implications for financial services marketing. Some interventions, especially in the area of consumer financial literacy, are more likely than others to help consumers bridge the gap between non-participation and participation in the stock market. Originality/value The study makes a contribution to investor behaviour theory in the form of a comprehensive model to explain SMP in an emerging market. This can be further tested across geographies.

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Section: Conceptual Backgroundmentioning

confidence: 79%

Attitudinal factors, financial literacy, and stock market participation

Sivaramakrishnan

Srivastava

Rastogi

2017

IJBM

180

150

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“…This study is the exploration of the fact that the stock market is completely volatile and instability of financial market drives the need of liquidation. Dey and Chakraborti (2015) investigates the relationship between advertising strategy and mutual fund purchase. The advertising strategy consists of two types such as transformational and informational.…”

Section: Resultsmentioning

confidence: 99%

The Determinants of Mutual Funds Success in Pakistan

Chhapra

Rehan²,

Rafay³

2018

Esensi

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The prime goal of this research is to find out the determinants of mutual fund's success in Pakistan. This study exploits the convenient sampling techniques and the data gathered from fund manager reports, annual reports, and from CDCPL. The sample size of this study relaxed to six Assets Management Companies (AMC)'s from of 2013 to 2017. We applied a unit root test for finding the nature of data and check the variation of variable's mutual performance by Hausman Technique. Moreover, we depicted the association between dependent and independent variables with the help of Constant Coefficient Model. It was concluded that risk adjusted return, management structure, and expense ratio have a significant impact on size of fund of selected AMC'S of Pakistan. However, the net asset value found to be negatively related with the size of fund. This research will help investors, AMC's and regulatory bodies to understand the dynamics of mutual funds in Pakistan.

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“…Safety aspect observed to be most important criterion for investments. The level of financial knowledge influences the decision related to mutual fund investments (Kozup et al, 2008;Dey et al, 2015). Generally, investors are unwilling to undertake transactions if they are unable to understand.…”

Section: Financial Literacymentioning

confidence: 99%

Financial Literacy, Risk Tolerance and Stock Market Participation

Mishra

2018

Asian Economic and Financial Review

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This study explores how households' stock market investment decisions are influenced by self-assessed financial literacy, investment awareness, risk propensity and socioeconomic characteristics. This study used national survey data of Indian households across the country, a survey conducted by SEBI (Securities and Exchange Board of India) to get a comprehensive view of households' characteristics, behaviour and investment patterns. The results of logistic regression indicate that individual having more risk tolerance, financial literacy, and investment awareness significantly influences the stock market investment decisions. ANOVA results indicate the significant difference among different groups of responding households according to age, education, zone, saving, debt, and income level while no significant difference found in level of stock market participation based on gender, occupation, and marital status. The results also validate the usefulness of financial education programme for enhancing the financial awareness among households that positively impacts the investment decision regarding stock market investments. Contribution/ Originality:This study contributes to the existing literature of Indian studies for determining the influential factors for household`s investment decisions regarding stock market investments examined through logistic regression. This research study is one of the very few studies conducted in India to predict the household`s stock market participation based on financial literacy, risk tolerance, investment awareness, and financial education.

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Does advertising strategy matter in influencing mutual fund purchase?

Cited by 17 publications

References 49 publications

Attitudinal factors, financial literacy, and stock market participation

Attitudinal factors, financial literacy, and stock market participation

The Determinants of Mutual Funds Success in Pakistan

Financial Literacy, Risk Tolerance and Stock Market Participation

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