Hidden Consequences of Consumer Protection on the Financial Market: Regulation-introduced Bias

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F04274644%3A_____%2F24%3A%230001133" target="_blank" >RIV/04274644:_____/24:#0001133 - isvavai.cz</a>

Výsledek na webu

<a href="https://pep.vse.cz/pdfs/pep/2024/03/05.pdf" target="_blank" >https://pep.vse.cz/pdfs/pep/2024/03/05.pdf</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.18267/j.pep.862" target="_blank" >10.18267/j.pep.862</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Hidden Consequences of Consumer Protection on the Financial Market: Regulation-introduced Bias

Popis výsledku v původním jazyce

This paper deals with the problem of how the risk perception among retail customers is affected by the consumer protection regulation on the financial market. Through a questionnaire survey, we have measured the effect ofselected consumer protection measures on banking or investment decisions taken by a young (student) population. These measures included the most common elements of financial regulation, such as bank deposit insurance, corporate bond prospectus, licenced fund management and securities broker indemnity insurance. Our results show that protective state intervention represents strong stimuli for customer decision-making with a widely misleading effect. It overshadows other factors, including individual qualification, risk-reward preference and demographic attributes, all of which were found to be insignificant. Since the surveyed measures reached a similar level of effect yet they offer different substance, this outcome has important policymaking implications.

Název v anglickém jazyce

Hidden Consequences of Consumer Protection on the Financial Market: Regulation-introduced Bias

Popis výsledku anglicky

This paper deals with the problem of how the risk perception among retail customers is affected by the consumer protection regulation on the financial market. Through a questionnaire survey, we have measured the effect ofselected consumer protection measures on banking or investment decisions taken by a young (student) population. These measures included the most common elements of financial regulation, such as bank deposit insurance, corporate bond prospectus, licenced fund management and securities broker indemnity insurance. Our results show that protective state intervention represents strong stimuli for customer decision-making with a widely misleading effect. It overshadows other factors, including individual qualification, risk-reward preference and demographic attributes, all of which were found to be insignificant. Since the surveyed measures reached a similar level of effect yet they offer different substance, this outcome has important policymaking implications.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50200 - Economics and Business

Projekt

—

Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2024

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Prague Economic Papers

ISSN

1210-0455

e-ISSN

—

Svazek periodika

33

Číslo periodika v rámci svazku

3

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

43

Strana od-do

277-318

Kód UT WoS článku

001258858000002

EID výsledku v databázi Scopus

2-s2.0-85198101060