风险偏好诱导与财务建议采纳

IF 1.7 3区经济学 Q3 BUSINESS, FINANCE

Journal of Behavioral Finance Pub Date : 2021-09-09 DOI:10.1080/15427560.2021.1974444

David J. Streich

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引用次数: 1

摘要

财务顾问依赖于对投资者风险偏好的准确衡量。本研究比较了不同的风险引出方法(REMs)在他们的感知适用性和影响财务建议采取。结果表明，所建议的风险概况的感知适宜性强烈预测委托咨询工具。rem的不同之处就其与投资者的感知过程相似性而言，这直接并通过其对来源可信度的积极影响积极影响适用性(因此，委托)。在风险分析任务的感知复杂性方面也发现了差异，这与适用性呈正相关。总之，研究结果表明，应用合适的REMs很重要，不仅因为它避免了对投资者真实风险偏好的歪曲，而且因为它直接影响了委托财务决策的倾向。

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Risk Preference Elicitation and Financial Advice Taking

Abstract Financial advisors rely on accurate measures of investor risk preferences. This study compares different risk elicitation methods (REMs) in terms of their perceived suitability and impact on financial advice taking. The results suggest that the perceived suitability of the suggested risk profile strongly predicts delegation to an advisory tool. REMs differ in terms of their perceived process similarity with the investor, which positively affects suitability (and thus, delegation) directly and through its positive effect on source credibility. Differences were also found with regards to the perceived complexity of the risk profiling task, which is positively related to suitability. In summary, the findings imply that applying suitable REMs matters not only because it avoids misrepresentation of an investor’s true risk preferences, but because it directly affects the propensity to delegate financial decision-making.

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来源期刊

Journal of Behavioral Finance Multiple-

CiteScore

4.60

自引率

10.50%

发文量

期刊介绍： In Journal of Behavioral Finance , leaders in many fields are brought together to address the implications of current work on individual and group emotion, cognition, and action for the behavior of investment markets. They include specialists in personality, social, and clinical psychology; psychiatry; organizational behavior; accounting; marketing; sociology; anthropology; behavioral economics; finance; and the multidisciplinary study of judgment and decision making. The journal will foster debate among groups who have keen insights into the behavioral patterns of markets but have not historically published in the more traditional financial and economic journals. Further, it will stimulate new interdisciplinary research and theory that will build a body of knowledge about the psychological influences on investment market fluctuations. The most obvious benefit will be a new understanding of investment markets that can greatly improve investment decision making. Another benefit will be the opportunity for behavioral scientists to expand the scope of their studies via the use of the enormous databases that document behavior in investment markets.