How do Australian female consumers exercise their decision-making power when making financial product decisions? The triad of financial market manipulation, rationality and emotions
International Journal of Bank Marketing
ISSN: 0265-2323
Article publication date: 7 June 2023
Issue publication date: 24 August 2023
Abstract
Purpose
This study explores the decision-making powers of Australian female consumers in the financial product market. More precisely, it examines how the integrative effects of rationality, emotions and personality traits influence the decision-making powers of Australian female consumers when making financial product purchase decisions.
Design/methodology/approach
The study employs a quantitative research approach, utilising a survey strategy. The proposed conceptual model was tested using structural equation modelling (AMOS) on a valid 357 responses from Australian female consumers.
Findings
The findings revealed that rationality, self-efficacy and impulsivity have a positive impact on the decision-making powers of Australian female consumers. Besides this, self-efficacy and anxiety had significant moderating effects on the decision-making power of Australian female consumers when buying financial products, whereas anger and impulsivity were found to have no moderating effects.
Research limitations/implications
The study offers understanding on the role of emotions and personality traits in financial decision-making, which can help financial institutions design sound products and services that can also ensure consumers' overall well-being.
Originality/value
Informed by the theoretical notions of the appraisal-tendency framework (ATF) and emotion-imbued choice model (EIC), the study makes a unique contribution by investigating the impact of rationality, emotions and personality traits on the decision-making powers of female consumers in the Australian financial product market.
Keywords
Acknowledgements
Erratum: It has come to the attention of the publisher that the article, Sharma, A., Hewege, C. and Perera, C. (2023), “How do Australian female consumers exercise their decision-making power when making financial product decisions? The triad of financial market manipulation, rationality and emotions”, International Journal of Bank Marketing, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/IJBM-09-2022-0408, was published with incorrect tables that should have been updated during production. This error was introduced in the editorial process and has now been corrected in the online version. The publisher sincerely apologises for this error and for any inconvenience caused.
Citation
Sharma, A., Hewege, C. and Perera, C. (2023), "How do Australian female consumers exercise their decision-making power when making financial product decisions? The triad of financial market manipulation, rationality and emotions", International Journal of Bank Marketing, Vol. 41 No. 6, pp. 1464-1497. https://doi.org/10.1108/IJBM-09-2022-0408
Publisher
:Emerald Publishing Limited
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