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Misselling consumer awareness study – Circumstances surrounding the occurence of misselling

Czesław Bartłomiej Martysz
Czesław Bartłomiej Martysz
 e 
Jan Piotr Rakowski
Jan Piotr Rakowski
   | 30 mag 2021
International Journal of Management and Economics's Cover Image
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Article Category: Empirical Paper
Pubblicato online: 30 mag 2021
Pagine: 121 - 137
Ricevuto: 09 ago 2020
Accettato: 20 mar 2021
DOI: https://doi.org/10.2478/ijme-2021-0007
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© 2021 Czesław Bartłomiej Martysz et al., published by Sciendo
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.

Figure 1

Knowledge test – do you know?Source: Author own elaboration based on survey results.
Knowledge test – do you know?Source: Author own elaboration based on survey results.

Figure 2

Did you have any experience with unfair practices (misselling)?Source: Author own elaboration based on survey results.
Did you have any experience with unfair practices (misselling)?Source: Author own elaboration based on survey results.

Figure 3

Main Likert scale survey.Source: Author own elaboration based on survey results.
Main Likert scale survey.Source: Author own elaboration based on survey results.

Figure 4

What type of the institutional system do you support?Source: Author own elaboration based on survey results.
What type of the institutional system do you support?Source: Author own elaboration based on survey results.

Figure 5

Evaluation of the confidence in financial institutions (1–7).Source: Author own elaboration based on survey results.
Evaluation of the confidence in financial institutions (1–7).Source: Author own elaboration based on survey results.

Figure 6

Safety evaluation of a financial product (1–7).Source: Author own elaboration based on survey results.
Safety evaluation of a financial product (1–7).Source: Author own elaboration based on survey results.

Figure 7

Popularity of a given product/financial instrument.Source: Author own elaboration based on survey results.
Popularity of a given product/financial instrument.Source: Author own elaboration based on survey results.

Figure 8

Knowledge and understanding of financial products.Source: Author own elaboration based on survey results.
Knowledge and understanding of financial products.Source: Author own elaboration based on survey results.

Figure 9

What is my knowledge of the laws and state institutions that protect consumers from misselling?Source: Author own elaboration based on survey results.
What is my knowledge of the laws and state institutions that protect consumers from misselling?Source: Author own elaboration based on survey results.

Figure 10

Am I used to sign contracts without reading them carefully?Source: Author own elaboration based on survey results.
Am I used to sign contracts without reading them carefully?Source: Author own elaboration based on survey results.

Figure 11

Knowledge of state financial education initiatives.Source: Author own elaboration based on survey results.
Knowledge of state financial education initiatives.Source: Author own elaboration based on survey results.

Figure 12

Sources of knowledge and information on financial products.Source: Author own elaboration based on survey results.
Sources of knowledge and information on financial products.Source: Author own elaboration based on survey results.

Figure 13

You are a consumer and you have been swindled when signing a financial service contract. Where will you turn for help in the first place?Source: Author own elaboration based on survey results.
You are a consumer and you have been swindled when signing a financial service contract. Where will you turn for help in the first place?Source: Author own elaboration based on survey results.

Circumstances relevant to the creation of misselling

Type of investor Type of financial service Method of sale Responsibility
Individual vs. Professional Client profile (depending on: investor's age, risk attitude, type of activity, creditworthiness, investment horizon) Financial instrument/financial serviceBundlingThe risk associated with the product Sales channels (remote, branch sales)Intermediaries Construction of the contractThe sales process and how to inform the customerSalesman remuneration scheme Financial institution vs. employee vs. clientNature of liability (intentional, unintentional)
eISSN:
2543-5361
Lingua:
Inglese
Frequenza di pubblicazione:
4 volte all'anno
Argomenti della rivista:
Business and Economics, Political Economics, Economic Theory, Systems and Structures, Business Management, Management Accounting, Financial Controlling, Cost Calculation, Investment
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