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Article
Publication date: 31 August 2020

Taejun (David) Lee, Bruce A. Huhmann and TaiWoong Yun

Government policy mandates information disclosure in financial communications to protect consumer welfare. Unfortunately, low readability can hamper information disclosures’…

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Abstract

Purpose

Government policy mandates information disclosure in financial communications to protect consumer welfare. Unfortunately, low readability can hamper information disclosures’ meaningful benefits to financial decision making. Thus, this experiment tests the product evaluation and decision satisfaction of Korean consumers with less or more subjective knowledge and with or without personal finance education.

Design/methodology/approach

A between-subjects experiment examined responses of a nationally representative sample of 400 Korean consumers toward a Korean-language credit card advertisement.

Findings

Financial knowledge improves financial product evaluation and decision satisfaction. More readable disclosures improved evaluation and satisfaction among less knowledgeable consumers. Less readable disclosures did not. Consumers without financial education exhibited lower evaluations and decision satisfaction regardless of readability. More knowledgeable consumers and those with financial education performed equally well regardless of disclosure readability.

Practical implications

Financial service providers seeking more accurate evaluations and better decision satisfaction among their customers should use easier-to-read disclosures when targeting consumers with less prior financial knowledge.

Social implications

One-size-fits-all financial communications are unlikely to achieve public policy or consumer well-being goals. Government-mandated information should be complemented by augmenting financial knowledge and providing personal finance training.

Originality/value

Although almost a quarter of the world’s population lives in East Asia, this is the first examination of readability in disclosures written in East Asian characters rather than a Western alphabet. Previous readability research on Asian-originating financial disclosures has been conducted on English-language texts. This study extends knowledge of readability effects to growing East Asian markets.

Details

International Journal of Bank Marketing, vol. 38 no. 7
Type: Research Article
ISSN: 0265-2323

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Publication date: 26 September 2002

TaiWoong Yun, Wei-Na Lee and Trina Sego

This study explores country of origin phenomena by assessing the impact of hybrid vs. non-hybrid products on target consumers' product evaluation. In addition, since advertising…

Abstract

This study explores country of origin phenomena by assessing the impact of hybrid vs. non-hybrid products on target consumers' product evaluation. In addition, since advertising is a major form of marketing communication that is used to present consumers with information and image of products and build preferences, the impact of indirect country of origin cues through foreign language slogan is also investigated.Results from the study indicate a significant difference between French hybrid and non-hybrid products. This distinction between hybrid and nonhybrid products may be relevant only when the relative roles of design and manufacture are considered simultaneously. The impact of foreign words in ads on product evaluation is observed to be similar to that of the direct country of origin cues.

Details

New Directions in International Advertising Research
Type: Book
ISBN: 978-0-76230-950-4

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Article
Publication date: 24 May 2013

Taejun (David) Lee, TaiWoong Yun and Eric Haley

This research aims to examine the effects of financial services advertising disclosures by pairing a content analysis documenting how mandatory financial disclosures are presented…

3177

Abstract

Purpose

This research aims to examine the effects of financial services advertising disclosures by pairing a content analysis documenting how mandatory financial disclosures are presented in mutual fund advertisements with a between-subjects experiment assessing whether inclusion of the disclosures influences consumer responses to advertisement, brand and company evaluations.

Design/methodology/approach

This research examines the effects of financial services advertising disclosures by pairing a content analysis documenting how mandatory financial disclosures are presented in mutual fund advertisements with a between-subjects experiment assessing whether the inclusion of the disclosures influences consumer responses to the ad, brand and company.

Findings

The findings show more positive consumer responses for perceived advertising responsibility, recall, and cognitive response as well as higher risk perception when consumers are exposed to the financial disclosures in mutual fund advertisements. Also, the results indicate a mediating role of positive cognitive responses on attitude toward the mutual fund company only when consumers are exposed to advertising disclosures.

Originality/value

The paper extends knowledge of whether and how required information disclosures pertaining to mutual funds influence investors ' psychological responses in mutual fund advertising contexts. From a managerial perspective, it has implications for financial services advertising and other social marketing campaigns by uncovering the effects of advertising-as-information in financial decision-making. From a public policy standpoint, the paper is among the first to make explicit claims regarding the role of advertising disclosure in retail investment circumstances.

Details

Journal of Services Marketing, vol. 27 no. 2
Type: Research Article
ISSN: 0887-6045

Keywords

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Book part
Publication date: 26 September 2002

Abstract

Details

New Directions in International Advertising Research
Type: Book
ISBN: 978-0-76230-950-4

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