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
研究了产品信息、金融态度和生活变量如何影响散户投资者参与金融产品的倾向，发现产品信息是最重要的影响因素，同时生活变量（如负面情绪和寻求刺激）也显著相关，对识别弱势投资者有启示。
Abstract 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.