Accès libre

Financial Attitude, Knowledge, Investment Behaviour and Satisfaction Among the Clients of Comprehensive Financial Planning Services

H. Young Baek
H. Young Baek
, 
Doseong Kim
Doseong Kim
 et 
Jong Oh
Jong Oh
   | 19 mars 2024
Financial Planning Research Journal's Cover Image
À propos de cet article
Article précédent
Article suivant
Citez
Publié en ligne: 19 mars 2024
Pages: 11 - 28
Reçu: 09 mars 2018
Accepté: 03 janv. 2019
DOI: https://doi.org/10.2478/fprj-2019-0001
© 2019 H. Young Baek et al., published by Sciendo
This work is licensed under the Creative Commons Attribution 4.0 International License.

Regressions

[A] Δ ExpDisc [B] Δ Inv&Sav [C] Δ SatAsset [D] Δ SatInv [E] Δ SatRet
c 156.542*** -87.222* 0.097 0.942** 1.020*
2.612 -1.753 0.236 2.094 1.918
Δ AttGoal 10.692 -14.310 -0.155 -0.079 0.148
0.806 -1.299 -1.598 -0.745 1.180
Δ AttFTP -14.128** 14.490** 0.055 0.010 0.006
-2.000 2.471 1.073 0.178 0.089
Δ AttEarly -16.163 3.015 -0.038 -0.021 -0.142
-1.512 0.340 -0.486 -0.245 -1.410
Δ KnowPlan 7.591 -4.790 0.206*** 0.112* 0.098
0.900 -0.684 3.527 1.749 1.285
Δ KnowBudget -10.704 -0.866 0.138* 0.208*** 0.176*
-1.038 -0.101 1.910 2.600 1.864
Δ KnowRetNeeds 8.669 -4.279 0.020 0.262*** 0.344***
0.934 -0.555 0.304 3.553 3.934
Age 1.796 -0.835 0.002 -0.022** -0.004
1.400 -0.784 0.200 -2.140 -0.351
Married 1.411 16.500 -0.039 0.040 0.120
0.055 0.778 -0.210 0.194 0.496
#Household 7.168 -12.003* -0.085 -0.015 -0.113
0.854 -1.723 -1.396 -0.226 -1.428
Ln Asset -3.320 1.548 -0.014 0.044 -0.051
-0.655 0.368 -0.390 1.093 -1.054
Ln Income -48.394*** 34.998*** 0.079 -0.008 0.034
-4.238 3.691 1.074 -0.096 0.353
N 216 216 216 216 216
R2 .139 .126 .173 .275 .274
Adj. R2 .084 .070 .121 .229 .228
F 2.529*** 2.243 *** 3.885 *** 5.949*** 6.775***
Sig. .003 .009 .000 .000 .000

Correlations

Age Married #House hold Income ΔAtt Goal Δtt FTP ΔAtt Early ΔKnow Plan ΔKnow Budget ΔKnow RetNds ΔSat Asset ΔSat Inv ΔSat Ret ΔInv&Sav
Age 1 .633** .639** .541** 0.012 -0.049 -.173* -.191** -.169* -.255** -.156* -.285** -.277** 0.018
Married .633** 1 .687** .419** 0.036 0.028 -.142* -0.115 -0.112 -.285** -.162* -.199** -.267** 0.053
#Household .639** .687** 1 .341** -0.123 0.012 -0.119 -0.118 -.163* -.317** -.192** -.245** -.346** -0.056
income .541** .419** .341** 1 -0.044 -0.004 -.186** -0.089 -0.118 -0.061 -0.083 -0.112 -0.123 .282**
ΔAttGoal 0.012 0.036 -0.123 -0.044 1 -0.011 .372** 0.012 0.047 0.071 -0.067 -0.073 0.057 -0.069
ΔAttFTP -0.049 0.028 0.012 -0.004 -0.011 1 0.065 0.063 0.102 0.101 0.096 0.099 0.040 0.087
ΔAttEarly -.173* -.142* -0.119 -.186** .372** 0.065 1 0.109 .183** .155* 0.005 0.073 0.030 -0.062
ΔKnowPlan -.191** -0.115 -0.118 -0.089 0.012 0.063 0.109 1 .335** .367** .322** .331** .238** -0.035
ΔKnowBudget -.169* -0.112 -.163* -0.118 0.047 0.102 .183** .335** 1 .537** .290** .402** .366** -0.008
ΔKnowRetNeeds -.255** -.285** -.317** -0.061 0.071 0.101 .155* .367** .537** 1 .279** .452** .479** -0.016
ΔSatAsset -.156* -.162* -.192** -0.083 -0.067 0.096 0.005 .322** .290** .279** 1 .483** .432** 0.017
ΔSatInv -.285** -.199** -.245** -0.112 -0.073 0.099 0.073 .331** .402** .452** .483** 1 .597** -0.023
ΔSatRet 277** -.267** -.346** -0.123 0.057 0.040 0.030 .238** .366** .479** .432** .597** 1 0.030
ΔInv&Sav 0.018 0.053 -0.056 .282** -0.069 0.087 -0.062 -0.035 -0.008 -0.016 0.017 -0.023 0.030 1
ΔExpDisc 0.013 -0.027 0.033 -.254** 0.053 -0.101 -0.012 0.036 -0.054 0.005 -0.007 0.004 0.007 -.826**

Paired t-tests: After – Before for Same Client

Mean Before Mean After Diff t stat
Attitude
AttGoal: Financial goal-setting is most important (1-5). 4.465 4.772 .308 8.523***
AttFTP: I feel better when accumulating money than spending for current satisfaction (1-5). 3.179 3.566 .388 5.871***
AttEarly: Planning and preparing early for retirement is important (1-5). 4.249 4.622 .372 7.967***
Knowledge
KnowPlan: I can analyse family financial goals and prepare for them (1-5). 3.212 3.923 .711 12.568***
KnowBudget: I can analyse my income and needs to budget properly (1-5). 3.123 3.791 .668 13.135***
KnowRetNeeds: I can calculate the necessary income during retirement and choose proper financial assets (1-5). 2.671 3.560 .889 15.836***
Satisfaction
SatAsset: I am satisfied with the size and types of my current assets (1-5). 2.899 3.332 .434 8.943***
SatInv: I am satisfied with the amount and types of investments (1-5). 2.597 3.480 .883 15.980***
SatRet: I am satisfied with amount and types of savings for stable retirement life (1-5). 2.563 3.446 .883 13.794***
Financial Behaviours
Inv&Sav: Investment and savings Total (10,000KRW) 91.402 162.046 70.64 10.708***
ExpDisc: Expense Discretionary Total (10,000KRW) 321.621 253.913 -67.71 -6.985***

Descriptive statistics

Mean S.D. Min Med Max
Age 37.21 9.38 23 35 59
Married: Single=0, Married=1 0.66 0.48 0 1 1
#Household: Number of household members 2.94 1.44 1 3 7
Assets Total (10,000 KRW) 39,646 67,675 0 14,062 489,285
Ln Asset: In (1+Assets Total) 8.89 2.52 0 9.55 13.10
IncomeTotal (10,000 KRW) 496.2 437.1 0 360 3500
Ln Income: In (1+lncome Total) 5.88 0.99 0 5.89 8.16
ΔAttGoal: Δ Financial goal-setting is most important. 0.31 0.66 -1 0 3
ΔAttFTP: Δ I feel better when accumulating money than spending for current satisfaction. 0.39 1.25 -3 0 4
ΔAttEarly: Δ Planning and preparing early for retirement is important. 0.37 0.87 -2 0 4
ΔKnowPlan: Δ I can analyse family financial goals and prepare for them. 0.71 1.12 -3 1 4
ΔKnowBudget: Δ I can analyse my income and financial needs to budget properly. 0.67 0.95 -2 1 4
ΔKnowRetNeeds: Δ I can calculate the necessary income during retirement and choose proper financial assets. 0.89 1.06 -2 1 4
Δ SatAsset: Δ I am satisfied with the size and types of my current assets. 0.43 0.91 -2 0 3
Δ SatInv: Δ I am satisfied with the amount and types of investments. 0.88 1.04 -2 1 4
Δ SatRet: Δ I am satisfied with amount and types of savings for stable retirement life. 0.88 1.21 -2 1 4
ΔInv&Sav: Δ All investment and savings (10,000KRW) 70.64 101.76 -410 40.5 500
ΔExpDisc: Δ Discretionary and untraceable expenses (10,000KRW) -67.71 122.36 -614 -49 483
eISSN:
2206-1355
Langue:
Anglais
Périodicité:
2 fois par an
Sujets de la revue:
Business and Economics, Political Economics, Economic Theory, Systems and Structures, Business Management, other, Industries, Banks, Financial Service Provider, Insurers
RSS Feed de la revue