Decision Making in Personal Insurance: Impact of Insurance Literacy

Financial illiteracy and underinsurance have been revealed to be critical issues in the financial sustainability and well-being of families. However, studies show that financial literacy does not necessarily translate to insurance literacy, and more specialized education can improve insurance literacy. Little is known about the impact of insurance illiteracy on the inclination to seek and retain insurance. Considering this gap, our study aimed to investigate the direct and indirect effect of consumers’ insurance literacy on purchasing decisions of personal insurance. The study sample consists of middle-class consumers in Sri Lanka. A total of 300 valid questionnaires were collected and analyzed using a variance-based structural equation modeling. The results revealed that insurance literacy directly, and through its mediators of trust, perceived benefits, and favorable attitudes towards insurance, impacts the behavioral intention, significantly and positively. The cognition-based trust affected the purchase intention only through its mediators. Additionally, there is a significant difference between those who are having and not having insurance in terms of insurance literacy, trustfulness, and perceived value of insurance. This study is relatively a pioneer study, and findings will be of great interest to academicians and policymakers to encourage personal insurance as a tool in achieving financial security and well-being

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eWOM in C2C Platforms: Combining IAM and Customer Satisfaction to Examine the Impact on Purchase Intention

Journal of theoretical and applied electronic commerce research ◽

10.3390/jtaer16050091 ◽

2021 ◽

Vol 16 (5) ◽

pp. 1612-1630

Author(s):

Salvador Bueno ◽

M. Dolores Gallego

Keyword(s):

Least Squares ◽

Partial Least Squares ◽

Purchase Intention ◽

Structural Equation ◽

Source Credibility ◽

Positive Impact ◽

Equation Modeling ◽

Research Model ◽

Argument Quality ◽

The Impact

This study is focused on communications that come from consumer-to-consumer (C2C) ecommerce relationships. This topic is directly associated with the electronic word-of-mouth (eWOM) phenomenon. eWOM is related to the set of positive or negative opinions made by potential, actual, or former customers about a seller. The present study proposes a structural equation modeling with partial least squares (PLS-SEM) research model to analyze consumers’ opinions impact on attitude toward purchasing. This model is based on the Information Adoption Model (IAM) in combination with an ecommerce satisfaction perspective, comprising five constructs: (1) service quality, (2) ecommerce satisfaction, (3) argument quality, (4) source credibility and (5) purchase intention. The model was tested by applying the Smart Partial Least Squares (SmartPLS) software for which 116 effective data from customers of the Taobao C2C platform were used. The findings reveal that all of the defined relationships were supported, confirming the positive impact of all the proposed constructs on the purchase intention. In this respect, the findings suggest that C2C platforms should strengthen the analyzed connections to grow the business and to promote transactions. Finally, implications and limitations related to the explanatory capacity and the sample are identified.

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The Relationship of CSR Communication on Social Media with Consumer Purchase Intention and Brand Admiration

Journal of theoretical and applied electronic commerce research ◽

10.3390/jtaer16050068 ◽

2021 ◽

Vol 16 (5) ◽

pp. 1217-1230

Author(s):

Shuchi Gupta ◽

Nishad Nawaz ◽

Adel Abdulmhsen Alfalah ◽

Rana Tahir Naveed ◽

Saqib Muneer ◽

...

Keyword(s):

Social Media ◽

Purchase Intention ◽

Structural Equation ◽

Mediating Effect ◽

Equation Modeling ◽

Csr Communication ◽

Consumer Purchase Intention ◽

Relationship Of ◽

The Impact ◽

The Relationship

With the advent of the Internet and other digital technologies, contemporary businesses from all sectors are using social media for communication with consumers to engage them meaningfully with a brand. However, the use of social media for corporate social responsibility (CSR) communication is relatively new to the existing literature. Likewise, the impact of CSR communication through social media (CSR-S) on consumer emotions and behavior is, to date, underexplored. To address this, the present research aims to test the relationship of CSR-S on brand admiration and consumer purchase intention. The study proposes a direct relationship between CSR-S and purchase intention with a mediating effect of brand admiration. The data were collected from the banking consumers of Pakistan through a self-administered questionnaire. The authors distributed 800 questionnaires and received 463 questionnaires useful for data analysis, so the present research study response rate was around 59%. The data were analyzed using the structural equation modeling (SEM) technique in AMOS. The results revealed that CSR-S is positively related to purchase intention (β = 0.233). The results further showed that brand admiration partially mediates this relationship (β = 0.079). The survey respondents confirmed that their bank’s CSR communication helps enhance their purchase likelihood and their feelings of admiration for their bank. These findings will help policymakers at banking institutions better understand the importance of CSR communication on different social media platforms to achieve consumer-related outcomes.

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Should I suggest this YouTube clip? The impact of UGC source credibility on eWOM and purchase intention

Journal of Research in Interactive Marketing ◽

10.1108/jrim-04-2020-0072 ◽

2021 ◽

Vol ahead-of-print (ahead-of-print) ◽

Author(s):

Mazzini Muda ◽

Muhammad Iskandar Hamzah

Keyword(s):

Social Media ◽

Structural Equation Modeling ◽

Purchase Intention ◽

Structural Equation ◽

Word Of Mouth ◽

Source Credibility ◽

Equation Modeling ◽

Content Type ◽

The Social ◽

The Impact

PurposeIn spite of the increasing organic and interactive marketing activities over social media, a general understanding of the source credibility of voluntary user-generated content (UGC) is still limited. In line with the social identity theory, this paper examines the effects of consumers' perceived source credibility of UGC in YouTube videos on their attitudes and behavioral intentions. Additionally, source homophily theory is included to predict the antecedent of source credibility.Design/methodology/approachThree hundred and seventy two Generation Y respondents were interviewed using snowball sampling. Data were analyzed with component-based structural equation modeling technique of partial least squares-structural equation modeling (PLS-SEM).FindingsFindings confirmed that perceived source credibility indirectly affects purchase intention (PI) and electronic word-of-mouth via attitude toward UGC. Besides, perceived source credibility mediates the effect of perceived source homophily on attitude toward UGC.Practical implicationsSince today's consumers have begun to trust and rely more on UGC than company-generated content on social media when making purchase decisions, companies may reconsider democratizing certain aspects of their branding strategies. Firms may fine-tune their marketing communication budgets – not only just by sponsoring public figures and celebrities but also by nurturing coproductive engagements with independent content creators who are ordinary consumers. Endowed with their imposing credibility, these micro-influencers and prosumers have high potentials to be uplifted to brand ambassadors.Originality/valueWhile consumers' purchase outcome can be measured easily using metrics and analytics, the roles of source homophily in stages leading up to the purchase is still elusive. Drawing on the rich theoretical basis of source homophily may help researchers to understand not only how credibility and attitude are related to PI but also how this nexus generates positive word of mouth among UGC followers within the social media circles.

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An Empirical Study on the Impact of E-Commerce Live Features on Consumers’ Purchase Intention: From the Perspective of Flow Experience and Social Presence

Information ◽

10.3390/info12080324 ◽

2021 ◽

Vol 12 (8) ◽

pp. 324

Author(s):

Haijian Wang ◽

Jianyi Ding ◽

Umair Akram ◽

Xialei Yue ◽

Yitao Chen

Keyword(s):

Social Presence ◽

Purchase Intention ◽

Structural Equation ◽

Positive Impact ◽

Focus Of Attention ◽

Equation Modeling ◽

Flow Experience ◽

Live Broadcast ◽

Modeling Data ◽

The Impact

The COVID-19 pandemic and the continuous advancement of live e-commerce technology pushed the swift growth of live e-commerce in China. Based on the S–O–R theoretical framework, this study investigates the impact of live broadcast characteristics on consumers’ social presence and flow experience, along with their impact on the consumers’ consumption intention in live e-commerce scenarios through questionnaires. Using structural equation modeling, data processing and involvement were introduced as regulating variables. Host charm, interaction, and trust in the host exerted a significant positive impact on social presence. In addition, host charm and trust in host significantly affected flow experience, and social presence significantly affected flow experience. Both social presence and flow experience significantly affected consumption intention, while involvement affected all paths to some extent. Overall, this study illustrates the significance of host in live e-commerce, and consumers with low involvement should be the focus of attention in live e-commerce.

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An Empirical Research on Factors Influencing Purchase Intention of Mobile Shopping

Sinología hispánica ◽

10.18002/sin.v1i6.5491 ◽

2018 ◽

Vol 1 (6) ◽

pp. 115

Author(s):

Luo Yong ◽

Li Shenghua

Keyword(s):

Purchase Intention ◽

Structural Equation ◽

Factor Model ◽

Influencing Factor ◽

Perceived Value ◽

Equation Modeling ◽

Flow Experience ◽

Font Size ◽

Mobile Shopping ◽

The Impact

Based on the theory of Flow experience, this thesis combines the theory of perceived value with the theory of customer innovation, and constructs the influencing factor model of Smartphone users’ purchase intention. The paper aims to understand the impact of Flow experience in the intention of mobile shopping in China. To address this, an empirical study with 430 subjects was carried out. It collected the data by questionnaire with 5-point Likert scale, and used SPSS.22.0 and AMOS.21 to encode and analysis the data by the method of factor analysis, descriptive statistics and structural equation modeling. The results indicate that flow experience has a significant positive effect on the purchase intention of mobile shopping, and customer innovation has a direct effect on flow experience which in turn impacts purchase intention. Furthermore, this study also reveals that perceived value influence mobile shopping deeply. Key words: Mobile shopping

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The impact of brand positioning and knowledge on attitude towards brand and purchase intention: A study of organic rice in Ho Chi Minh City

HCMCOUJS - ECONOMICS AND BUSINESS ADMINISTRATION ◽

10.46223/hcmcoujs.econ.en.10.1.225.2020 ◽

2020 ◽

Vol 10 (1) ◽

Author(s):

Hoang Thi Phuong Thao ◽

Lu Van Bao Long ◽

Nguyen Le Thai Hoa

Keyword(s):

Factor Analysis ◽

Purchase Intention ◽

Structural Equation ◽

Ho Chi Minh City ◽

Equation Modeling ◽

Consumer Attitude ◽

Brand Positioning ◽

Brand Knowledge ◽

Organic Rice ◽

The Impact

The purpose of this study is to measure the effectiveness of factors of brand, including Brand Positioning, Brand Knowledge, Attitude towards Organic Rice Brand, and Organic Rice Purchase Intention. The survey was conducted with a sample of 224 consumers shopping at four organic rice shops in Ho Chi Minh City. The research was performed by quantitative research methods: Cronbach's Alpha Reliability Analysis, Exploratory Factor Analysis (EFA), Confirm Factor Analysis (CFA), and Structural Equation Modeling (SEM). The research results were conducted in two direct models and the indirect models in which the indirect model was supported. This means that brand positioning and brand knowledge had no direct impact on the Intention to buy organic rice, but only an indirect one through the consumer attitude towards the organic rice brand.

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SME Managers and Financial Literacy; Does Financial Literacy Really Matter?

Journal of Public Administration and Governance ◽

10.5296/jpag.v8i3.13539 ◽

2018 ◽

Vol 8 (3) ◽

pp. 353

Author(s):

Shamim Akhtar ◽

Yanping Liu

Keyword(s):

Financial Literacy ◽

Structural Equation ◽

Service Providers ◽

Business Owners ◽

Financial Knowledge ◽

Equation Modeling ◽

Financial Awareness ◽

Performance Results ◽

The Impact ◽

Firm Owners

The purpose of this study is to examine the level of small and medium (SMEs) business owners-managers’ financial literacy and its effect on the firm’s performance. The study applied random sample and structural equation modeling approaches in measuring the impact of SME firm owners-managers’ level of financial literacy in the context of Pakistan. The findings reveal the complete influence of firm owners- manager’s financial attitude, financial knowledge and financial awareness in adapting financial literacy to upsurge in firm performance. Results indicate that financial awareness and financial knowledge of SME managers are evidently not a precondition to SMEs performance, yet entrepreneur tactics in making decisions and association to financial attitude have a contrast with financial literacy. Findings would be valuable for the SME owners, investors and service providers.

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Consumer purchase intention of a cosmetic product after the Fukushima nuclear incident

Social Behavior and Personality An International Journal ◽

10.2224/sbp.6676 ◽

2018 ◽

Vol 46 (4) ◽

pp. 551-561 ◽

Cited By ~ 1

Author(s):

Jae Hoon Hyun ◽

Suk Bong Choi

Keyword(s):

Purchase Intention ◽

Structural Equation ◽

Brand Image ◽

Equation Modeling ◽

Factors Affecting ◽

The Public ◽

Cosmetic Product ◽

Consumer Purchase Intention ◽

The Impact

We examined the factors affecting consumer purchase intention of a cosmetic product after the Fukushima nuclear incident and the role of distinctiveness in postcrisis recovery. Through a 2-group experiment and structural equation modeling, we found that the incident did not affect the firm's reputation and brand image but it was perceived as a significant threat to health and product safety that consequently negatively affected purchasing intentions. Findings also showed that high distinctiveness is a valid factor in diminishing the impact of crisis. In particular, a firm's reputation and indirect effects on revenue are least affected by, or even positively related to distinctiveness. We have included discussion of the critical implications for firms around the importance of maintaining desirable relationships with the public as preparation for a crisis and for rapid postcrisis recovery.

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Perceived organizational support and employee well-being

Chinese Management Studies ◽

10.1108/cms-07-2017-0211 ◽

2018 ◽

Vol 12 (2) ◽

pp. 469-484 ◽

Cited By ~ 5

Author(s):

Mashal Ahmed Wattoo ◽

Shuming Zhao ◽

Meng Xi

Keyword(s):

Organizational Support ◽

Structural Equation ◽

Perceived Organizational Support ◽

Well Being ◽

Work And Family ◽

Equation Modeling ◽

Family Responsibilities ◽

Content Type ◽

Work Family ◽

The Impact

Purpose Considering work and family responsibility has become an important issue due to changes in the lives of people, understanding work and family responsibilities is essential for organizations in assisting employees to increase their well-being. Therefore, the purpose of this paper is to find the impact of perceived organizational support (POS) on work–family facilitation (WFF) and work–family conflict (WFC) and eventually on employee well-being. Design/methodology/approach A survey questionnaire is administered to 1,340 employees of Chinese enterprises. Structural equation modeling is used to test the model fit. Findings Results of this study indicate a significant positive relationship between POS and WFF and significant negative relation between POS and WFC. Results of this paper also indicate that WFF and WFC partially mediate the relationship between POS and employee well-being. Originality/value Over the past two decades, the extent of research on work–family literature has been increased. Most of the work–family research works have been conducted in the Western countries. Very little is known about whether these results are applicable to Eastern societies. This study is extended to focus on work–family literature by drawing a sample from different regions of China. The findings of this study may provide a good understanding of WFC and WFF for Chinese employees. This study stresses the importance of providing organizational support to increase the well-being of employees.

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An investigation into the relationship between materialism and green purchase behavior in Vietnam and Taiwan

Journal of Economics and Development ◽

10.1108/jed-10-2019-0044 ◽

2019 ◽

Vol 21 (2) ◽

pp. 247-258

Author(s):

Nguyen Thi Tuyet Mai

Keyword(s):

Purchase Intention ◽

Structural Equation ◽

Research Effort ◽

Purchase Behavior ◽

Equation Modeling ◽

Green Products ◽

Content Type ◽

Important Relationship ◽

Materialistic Values ◽

The Impact

Purpose The purpose of this paper is to investigate the impact of materialistic values on purchase intention (PI) toward green products among consumers in Vietnam and Taiwan, two Asian countries with different levels of economic development. Design/methodology/approach This research employs the extended theory of planned behavior (TPB) with an integration of materialism. To serve the purpose of this study, two consumer surveys were conducted in Hanoi (Vietnam) and Taipei (Taiwan). The structural equation modeling was employed to test the proposed model and hypotheses. Findings This study examined the impact of some antecedents of green PI among consumers in Vietnam and Taiwan, focusing on the indirect impact of materialistic values (through attitude). All five hypotheses received support from the Vietnam data, confirming the significant impacts of materialistic values (i.e. success and happiness) on attitude, and all three antecedents from the TPB model (i.e. attitude, subjective norms and perceived behavioral control) as positive predictors of green PI. For the Taiwan data, the findings were similar to those from the Vietnam data, except insignificant impact of success value on attitude toward buying green products. Originality/value This research is expected to contribute to the extant literature by enriching the knowledge of the interesting and important relationship between materialistic values and green purchase behavior among consumers in two Asian markets where, to the author’s best understanding, only modest research effort has been given to explore this topic.

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