对财务咨询的需求：来自随机选择实验的证据

IF 3.6 2区经济学 Q1 BUSINESS, FINANCE Journal of Banking & Finance Pub Date : 2024-04-16 DOI:10.1016/j.jbankfin.2024.107193

Boudewijn de Bruin , Olha Cherednychenko , Niels Hermes , Marc Kramer , Marco Meyer

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引用次数: 0

摘要

金融咨询成本的显著性和结构如何影响消费者需求？本研究开展了一项随机选择实验，探讨在零售抵押贷款市场引入佣金禁令可能产生的后果。荷兰家庭调查小组 2100 多名参与者的样本显示，在收费制度下，咨询成本显著且必须预付，与相同成本包含在按揭付款中的情况相比，咨询需求减少了 25%。我们没有发现证据表明，这种对财务咨询需求的影响因客户的复杂程度不同而不同。同时，我们确实发现，更注重当前的客户对预付咨询费用的意愿较低。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Demand for financial advice: Evidence from a randomized choice experiment

How does the salience and structure of costs for financial advice influence consumer demand? This study conducts a randomized choice experiment exploring possible consequences of introducing a commission ban in the retail mortgage market. A sample of more than 2100 participants of the Dutch Household Survey panel reveals that in a fee-based regime, in which the costs of advice are salient and must be paid upfront, demand for advice decreases by 25 % compared with a situation in which the same costs are embedded in mortgage payments. We do not find evidence that such demand effects for financial advice varies across less versus more sophisticated customers. At the same time, we do find that customers with a stronger focus on the present express less willingness to pay for advice upfront.

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来源期刊

Journal of Banking & Finance Multiple-

CiteScore

6.40

自引率

5.40%

发文量

262

期刊介绍： The Journal of Banking and Finance (JBF) publishes theoretical and empirical research papers spanning all the major research fields in finance and banking. The aim of the Journal of Banking and Finance is to provide an outlet for the increasing flow of scholarly research concerning financial institutions and the money and capital markets within which they function. The Journal''s emphasis is on theoretical developments and their implementation, empirical, applied, and policy-oriented research in banking and other domestic and international financial institutions and markets. The Journal''s purpose is to improve communications between, and within, the academic and other research communities and policymakers and operational decision makers at financial institutions - private and public, national and international, and their regulators. The Journal is one of the largest Finance journals, with approximately 1500 new submissions per year, mainly in the following areas: Asset Management; Asset Pricing; Banking (Efficiency, Regulation, Risk Management, Solvency); Behavioural Finance; Capital Structure; Corporate Finance; Corporate Governance; Derivative Pricing and Hedging; Distribution Forecasting with Financial Applications; Entrepreneurial Finance; Empirical Finance; Financial Economics; Financial Markets (Alternative, Bonds, Currency, Commodity, Derivatives, Equity, Energy, Real Estate); FinTech; Fund Management; General Equilibrium Models; High-Frequency Trading; Intermediation; International Finance; Hedge Funds; Investments; Liquidity; Market Efficiency; Market Microstructure; Mergers and Acquisitions; Networks; Performance Analysis; Political Risk; Portfolio Optimization; Regulation of Financial Markets and Institutions; Risk Management and Analysis; Systemic Risk; Term Structure Models; Venture Capital.

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