Consumer finance/household finance: the definition and scope

Xiao, Jing Jian; Tao, Chunsheng

doi:10.1108/cfri-04-2020-0032

Cited by 51 publications

(45 citation statements)

References 172 publications

(155 reference statements)

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“…Household financial asset holding is an important topic in household finance (Campbell, 2006;Xiao & Tao, 2020) and consumer financial literacy research (Goyal & Kumar, 2020). Risky financial assets refer to financial assets that possess financial risk, such as stocks, bonds, and mutual funds.…”

Section: Introductionmentioning

confidence: 99%

Consumer financial education and risky financial asset holding in China

Zhu

Xiao

2021

Int J Consumer Studies

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Risky financial asset holding is arguably a desirable financial behavior that contributes to consumer financial wellbeing. However, studies about associations between consumer financial education and risky financial asset holding in China remain limited. To fill this gap, using data from the 2015 China Household Finance Survey, this study examined the association between financial education and risky financial asset holdings and explored its mediators. Results from Probit regressions showed that financial education was positively associated with the household risky financial asset holding. Further analyses based on the mediating model found that financial literacy, economic and financial information search, and risk tolerance were mediating factors in the association between financial education and risky financial asset holding. The results have policy implications for improving consumer financial education and financial market participation.

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Section: Introductionmentioning

confidence: 99%

Consumer financial education and risky financial asset holding in China

Zhu

Xiao

2021

Int J Consumer Studies

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“…In this regard, researchers can use several non‐U.S. centric data sets, that is, OECD provided data sets, China household finance surveys, and China consumer finance survey data sets (Xiao & Tao, 2020, p. 16). In addition, researchers can study financial behaviors in intrafamily households (small family versus big family), communities, or societies as a unit of analysis (countries in Southeast Asia versus countries in Nordic regions) to advance the research agenda in this area.…”

Section: An Organizing Framework Of Research Gaps In Financial Well‐beingmentioning

confidence: 99%

Consumer’s subjective financial well‐being: A systematic review and research agenda

Nanda

Banerjee

2021

Int J Consumer Studies

112

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Subjective Financial Well‐being (FWB) research has gained considerable interest from both academics and practitioners recently. This research area focuses on the consumer’s self‐assessment of his/her disposition, belief, attitude, and behavior concerning money management, spending, savings, and investment. The authors used a systematic literature review (SLR) process, which is a step‐by‐step process‐driven methodology, to find 128 articles published between 1978 and 2020 in marketing and related consumer studies fields. By critically examining the published studies, the paper proposes an organizing framework to identify important research gaps and suggest future research directions. The existing studies highlight (a) macro‐level factors determining the consumer’s FWB, (b) bank information transparency and ethical selling, (c) consumer co‐production behavior, (d) consumer financial literacy and how it relates to FWB, (e) financial inclusion, (f) materialism, personality, spending self‐control, and FWB, (g) multicountry research, and (h) the outcomes or consequences of FWB. Further research directions emphasize the need for research on (a) young consumers and their FWB and (b) role of marketers in maintaining FWB of consumers. The organizing framework offers actionable insights for banks, other financial institutions (FIs), businesses, third‐party organizations (i.e., financial literacy service providers), and public policy makers to increase the subjective FWB of consumers.

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“…The form of using PFM tools depends on the consumer's preferences and/or the form of making them available to the users offered by the provider. Combination of advances in technology, new uses of data, and changes in customer preferences and expectations are likely to create lasting structural changes in financial services (Xiao, Tao, 2020) like credit, digital payments, savings, investments & PFM, distributed ledger technology) (Marder 2016).…”

Section: Introductionmentioning

confidence: 99%

How we can benefit from personal finance management applications during the COVID-19 pandemic? The Polish case

Waliszewski¹,

Warchlewska²

2021

JESI

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The aim of this article is to determine if and to what extent sociodemographic factors are related to how home budget management applications are evaluated. The authors attempted to verify to what extent applications supporting personal finance management are beneficial and popular in Poland via a CAWI online survey. The architecture of the research covered the following areas: the name of the application used, its method of use, the level of complexity of the software installation process, evaluation of the application's transparency, intuitiveness, functionality, if it meets financial needs, the technical and substantive faults of the application, degree of satisfaction with the application as well as recommendations for further development, the advantages and disadvantages of the application, the use of PFM during the SARS-CoV-2 era. The study showed that users tend to use non-banking applications more often than financial managers offered by banks. A PFM benefit analysis shows that the applications are highly transparent, structured, intuitive and that the respondents have positive approach towards using them. The SARS-CoV-2 pandemic has given grounds to finding gaps in remote customer service, such as better adaptation to the needs of current settlements and payments, the incapability to scan documents, and the lack of advice and ongoing contact with a consultant.

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Consumer finance/household finance: the definition and scope

Cited by 51 publications

References 172 publications

Consumer financial education and risky financial asset holding in China

Consumer financial education and risky financial asset holding in China

Consumer’s subjective financial well‐being: A systematic review and research agenda

How we can benefit from personal finance management applications during the COVID-19 pandemic? The Polish case

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