0000000000588410
AUTHOR
Pekka Puustinen
Antecedents and consequences of perceived investment value
To gain a more comprehensive view to non-institutional investment behavior, this study develops and tests a set of hypotheses linking self-congruence, risk profile and investment experience with perceived investment value (PIV). In addition, the study tests direct and indirect effects of PIV on positive word-of-mouth. The hypotheses are tested on data from 440 private investors. The findings reveal that 1) self-congruence and risk profile are positively associated with five out of six of the PIV dimensions, 2) the relationship between PIV and word-of-mouth are more complex than is generally thought, and 3) user experience moderates four out of the twelve hypothesized paths. The study contri…
Development and validation of the Perceived Investment Value (PIV) scale
This study aims to develop a complementary and more comprehensive measurement to assess the nature of investment value affecting consumers’ investment behavior. Recent research suggests that consumers may desire and obtain certain outcomes from investments that have not been anticipated in mainstream finance and economics literature. These benefits might be hedonistic or altruistic, self-expressive or emotional and experiential. Yet, while an increasing amount of attention has been paid to this topic, little effort has been made to develop an appropriate measurement scale for the subjective consumer perceptions of investments. To address this gap in the literature, this study introduces the…