Tesis sobre el tema "Money behavior"

Despite high profile environmental campaigns, Americans are no more likely to engage in environmental behavior today than they were 20 years ago. A novel explanation for this paradox may lie in the increasing tendency for people to see their time as money. National survey data suggests that seeing time as money is related to decreased environmental behavior. Using large-scale survey data (Study 1), we show that people are less likely to engage in environmental behavior if they are paid by the hour, a form of compensation that leads people to see their time as money. Using experimental methodology, we show that making the economic value of time salient lowers intentions to engage in environmental behavior (Studies 2 & 3) and actual recycling (Study 4). In Study 4, students led to see their time as money were five times less likely to recycle scrap paper when given the opportunity. In Study 5, we document a mechanism for this effect—individuals who are paid by the hour are chronically aware of the opportunity costs associated with engaging in everyday environmental behavior. Together, this research suggests that environmental decisions are shaped by viewing time as money, potentially shedding light on patterns of environmental behavior across time and around the world.
Arts, Faculty of
Psychology, Department of
Graduate

Fonds du marché monétaire, comportement des actionnaires et stabilité financière
In the five business days following the default of Lehman Brothers in September 2008, U.S. prime money market funds (MMFs) experienced outflows totaling over 300 billion of dollars, representing 15% of their total assets. In order to generate cash to service outflows, some MMFs sold assets and stopped rolling their investments. Many have argued that these outflows exacerbated the financial crisis by contributing to a freezing of commercial paper markets. In 2010, in an effort to improve the resiliency of MMFs to withstand severe market stresses, the Securities and Exchange Commission (SEC) adopted a number of substantial reforms. Since 2010, many regulators have called for further reforms of MMFs, citing the eurozone crisis of 2011 as evidence that MMFs remain a financial stability concern. Over June, July and August 2011, MMFs experienced outflows of 162 billion of dollars, representing 10% of their total assets. Some contend that the size and timing of these outflows indicate that MMF investors continue to react to, and perhaps exacerbate, stresses in the financial markets. According to this view, yield sensitive investors incent MMFs to take risk through foreign bank investments and then cut and run once those risks escalate, resulting in a sudden loss of funding available to credit-worthy U.S. firms. Using the eurozone crisis of 2011 as an acid test, this thesis evaluates the validity of this narrative and, more broadly, the stability of U.S. MMFs after the 2008 financial crisis and resulting reforms. (...)

This thesis investigated money supply behaviors in the ‘BRICS’ group from 1982 to 2012. It empirically analyzed causality relationships between related monetary indicators by using quarterly data and time series econometric methods. In four countries: Brazil, China, Russia (the period of 2004-2012) and South Africa (1982-1993), this study found money supply endogeneity evidence (bank loans cause the money supply, or there is bidirectional between these two). Other countries, India and the 1982-2003 period of Russia, money supply was found to be exogenous, i.e. money supply cause bank loans. Nonetheless, traditional Monetarian view still holds across the five economies in the short run. The findings reflected discretionary monetary policies targeting monetary aggregates in the short term, despite a neutral role of most central banks in the long run.

While previous research has examined the effect of income on happiness, we suggest that how people spend their money may be as important for their well-being as how much they earn. Specifically, we hypothesized that spending money on others may have a more positive impact on well-being than spending money on oneself. We found converging evidence for this hypothesis in a nationally representative survey (Study 1), a longitudinal study of windfall spending (Study 2), and an experimental study in which participants were randomly assigned to spend money on themselves or others (Study 3). We also found that people believe that spending on themselves, as opposed to others, will make them happier (Study 4) and that happier people were more likely to spend on others and experience higher happiness as result (Study 5). These results demonstrate that spending money on others may facilitate the translation of wealth into well-being.

This study was designed to explore the nature of compulsive buying behavior with respect to self esteem and money attitude variables. Conjointly, a newly developed screening device, the Compulsive Buying Scale, was used to test its ability to discern compulsive buying tendencies amongst consumers. Comparison was made with participating members of intact compulsive buying help groups and "normal" consumers. Compulsive buyers were found to significantly differ from normal consumers on variables tested. Compulsive buyers were found to have lower self esteem with money attitudes reflecting obsession with money and its perceived power and prestige. Likewise, compulsive buyers differed significantly on the Compulsive Buying Scale adding support to the validity of the scale.

We develop a consumption model to analyze the relative importance of time and money for consumer behavior and prosperity. The model is characterized by three situations a consumer may face. Equilibrium conditions are different in each of those situations. At equilibrium A only the time constraint is binding. The appropriate situation is called relative time scarcity. At equilibrium B, relative satiation, the consumer's income constraint is binding at the optimal allocation of time. At equilibrium C, consumers deviate from their optimal allocation of time because of the income constraint. Those consumers face relative money scarcity. We analyze behavioral reactions to changes in prices, disposable income and available time in each of those three situations. It turns out that substitution effects only exist in situations of relative money scarcity - the only situation dealt with in ordinary (i.e. timeless) consumer theory. The absence of substitution effects in situations of relative time scarcity and relative satiation leads us to the conclusion, that the impact of changes in relative prices on consumer behavior is much less important than usually assumed. Another interesting result is that increases in disposable income do not necessarily lead to a gain in prosperity. The effects of changes in disposable income and time availability on prosperity depend on the situation a consumer faces.(author's abstract)
Series: SRE - Discussion Papers

Three groups of participants were exposed to different unit price sequences. Unit prices for all groups ranged from unit price 1 to 21. Analyses of demand curves, response rates, session duration, and elasticity coefficients suggest that the sequence of exposure to unit prices can affect the elasticity of demand. In addition, the size of unit price contrast, direction of unit price change, and proximity to experimental milestones also may affect the consumption of monetary reinforcers.

My dissertation argues that fiction produced in England during the frequent financial crises and political volatility experienced between 1770 and 1820 both reflected and shaped the cultural anxiety occasioned by a seemingly random and increasingly uncertain world. The project begins within the historical framework of the multiple financial crises that occurred in the late eighteenth century: seven crises took place between 1760 and 1797 alone, appearing seemingly out of nowhere and creating a climate of financial meltdown. But how did the awareness of economic turbulence filter into the creative consciousness? Through an interdisciplinary focus on cultural studies and behavioral economics, the dissertation posits that in spite of their conventional, status quo affirming endings (opportunists are punished, lovers are married), novels and plays written between 1770 and 1820 contemplated models of behavior that were newly opportunistic, echoing the reluctant realization that irrationality had become the norm rather than a rare aberration. By analyzing concrete narrative strategies used by writers such as Frances Burney, Georgiana Cavendish, Hannah Cowley, and Thomas Holcroft, I demonstrate that late eighteenth-century fiction both articulates and elides the awareness of randomness and uncertainty in its depiction of plot, character, and narrative.

Previous research suggests that activating concepts of money and wealth can increase motivation to achieve personal goals. In this dissertation, I investigate how money affects pursuit of important personal goals, and how this motivation may be affected by goal attainability. In eight studies, I show that priming concepts of money and wealth leads individuals to pursue important personal goals to a greater degree than control groups, but only when a goal is more attainable. In contrast, when a goal is less attainable, those primed with money will be less likely to work towards goals relative to control groups. Furthermore, I examine why money may have a detrimental effect on motivation when individuals are faced with less attainable but important goals, and argue those primed with money become more concerned with maintaining a sense of efficacy, and thus disengage from pursuit when success is less certain. Thus, this research identifies the needs made salient by activating money-"validating one's abilities. Finally, I show the relevance of these findings for consumer behavior, and discuss the additional implications of this work, as well as future research directions.
Ph. D.

Abstract Driven by fast evolution in the money market during the past two decades, financial and technological innovations, increasing competition, and internationalizing of businesses, cash and treasury management has become an increasingly important function in most firms. It is reasonable to expect that the role of financial transactions in the cash management process in adding to firm value has increased its importance and changed the cash management behavior of firms. The main purpose of this study is to investigate this potential behavioral change in cash management by examining the cash management practices behind the models explaining the cash management behavior and to test the stability of some of these models. It is hypothesized that the environmental changes have been remarkable enough to change the cash management behavior, which can be seen as a structural change in the cash management function. The factors assumed to explain this phenomenon may concern organizational and technological arrangements in cash management, likewise professional skills in the area of financial transactions and incentives for these especially created by emerging money markets. The examination was conducted using the survey method to map out the best cash management practices followed by Finnish listed manufacturing and service companies and by testing the stability of both static and dynamic models explaining cash management behavior. The empirical part of the study is based on three questionnaires in three separate years, namely 1988, 1994, and 2000, and the empirical estimation of the selected cash management models using financial statement data for the years 1972 to 2001. The study concludes that during the research period firms have achieved a significant technological progress (improving systems and methods) and significant behavioral changes (increasing professionalism) concerning cash management practices, referring to opportunities for more effective cash management operations. The stability tests of cash management models indicated that a structural change in cash management behavior occurred after the deregulation years in the money market. These results were consistent with the surveys referring the development in the efficiency of the firms' cash management.

Title: What does money smell like? – A mixed method study ofscents affect on consumer purchase of high-involvementproducts Keywords: Scent, congruency, consumer purchase behavior, consumerbehavior, high-involvement products, sensory marketing,marketing, causality, focus group, observation, mixedmethod, experiment, embedded design Background: To offer an experience means to activate the consumers’senses, and sensory cues in store atmospherics tend to catchcostumers’ interest and affect their retail experience(Sprangenberg 2006). These cues can be affected and calledsensory marketing, which by involving and stimulating all orparts of the senses, creates a more rich experience for the consumer (Hultén 2012). A more specific sense; the sense ofsmell, is connected to risk taking, variety seeking andstronger curiosity (Orth & Bourrain 2008) and also nostalgia(Lindstrom 2005). This depends on that these parts of thehumans’ brain is closely located to each other, and byunderstanding which scents that effects consumers and how,marketers can create favorable outcomes such as increased sales (Herrmann et al. 2013). Purpose: Explain how scent affects consumers’ in-store purchasebehavior of high-involvement products Methodology: A mixed method embedded design was preformed involvinga focus group, structured observation and secondary data Results: There were no statistical significance on consumers’purchase behavior when exposed to scent, and H1 wastherefore rejected Main implications: Suggestions for further research would be to try out otherscents that were not studied in this thesis, e.g. green apple. Also to have more variables in the secondary data, whentesting for the statistical significance

This thesis is an attempt to advance our understanding of investor behaviour in one of the world’s largest markets, i.e. the mutual fund industry. It consists of three essays that answer the following questions: Does investor fund-selection ability explain the impressive growth of the U.K. mutual fund industry? Does the behaviour of U.S. mutual fund investors vary across the business cycle? And, how do investors react to U.S. mutual fund name changes? The first essay explores the role of investor fund-selection ability in explaining the growth of the mutual fund industry given that previous studies find that mutual funds underperform their benchmarks on average. I examine such ability in the context of the remarkable growth experienced by U.K. mutual funds during the decade of 2000-2010. Using three alternative measures of selection ability and two for performance measurement, I find that fund-selection ability is explained away by the momentum factor due to investors naively chasing recent winners. In addition, this essay is the first to examine the impact of fund visibility on selection ability. I find that fund visibility is an important factor in the investment decision-making process, and one that fund managers can potentially manipulate to their advantage. The second essay is motivated by recent findings that benchmark-adjusted returns to the fund industry are positive in periods of economic contractions. Previous literature is silent on investor behaviour in the face of superior average returns. This essay fills the gap in literature by examining investor’s fund-selection ability across the business cycle. I examine U.S. fund data from 1970-2011 and find that while genuine selection ability does not exist in any period, investors do behave differently across the business cycle. Specifically, investors no longer chase recent winners during contractions, despite no change in fund performance consistency. Instead, I find that investors are more concerned about controlling their risk exposure, especially to the market, during periods of economic downturn. The third essay examines investor reactions to U.S. mutual fund name changes, following the adoption of a new SEC ruling in 2001 to curtail misleading names. We uncover striking evidence that funds continue to undertake cosmetic name changes, and that such changes appear to mislead investors. I find that investors react more positively to cosmetic name changes than non-cosmetic ones. This result is not driven by marketing efforts. Instead, further examination reveals that this arises because cosmetic name changes frequently include industry ‘buzzwords’ in the new name, a tactic that is rewarded with higher flows to such funds. I also find that additional name changes by a fund continue to attract significant flows, although the magnitude of the flows decreases over each successive event. This essay provides compelling evidence in favour of investor irrationality and has implications for both practitioners and academics.

It is generally assumed that monetary incentivization is the most effective means of motivating organizationally-beneficial behaviors. Individuals, under this line of thought, pursue their own objective self-interest above all else. However, evidence is being uncovered that indicates that human motivation may be a much more complicated facet of the human psyche. The purpose of this study is to examine the deeper underpinnings that drive people work that might lie beyond financial rewards. In order to do this, the Shakedown Café, a student-run restaurant on Pitzer College’s campus, will be examined. This specific organization is of particular interest because it does not have the ability to reward employees in the manner that most businesses are able to employ. In looking at the Shakedown, the author's direct experiences while working in the restaurant, observations, a variety or intra-organizational correspondences, and modern organizational behavior theories will be utilized. The findings of this research indicate that the human drives to learn, bond with others, and defend oneself and one's surroundings are all just as important aspects of motivation as is the drive to acquire money. Within the organization of interest, these drives manifest themselves through organizational purpose, group learning, and shared leadership. From this example of the Shakedown Café, it is suggested that proliferation of financial rewards in today's organizations may well be an outdated model of motivating which could be prohibiting organizations and the people within them from reaching their full potentials.

Thesis (Ph. D.)--Ohio State University, 2005.
Title from first page of PDF file. Document formatted into pages; contains xii, 178 p.; also includes graphics (some col.). Includes bibliographical references (p. 115-128). Available online via OhioLINK's ETD Center

This PhD thesis contributes to the growing economic literature which studies effects of social and cultural variables on economic behavior of older adults in Europe. Landes, cited in Guiso et al. (2006), states that "if we learn anything from the history of economic development, it is that culture makes all the difference” (p. 29). Indeed, in the recent years economists put an effort to apply their analytical frameworks and empirical tools to study the role of culture on economic outcomes (Guiso et al., 2006). Many studies have already linked economic outcomes directly to cultural differences. In my papers I use culture as it is defined by Guiso et al. (2006). This definition is focused only on such aspects of culture (beliefs, values or skills) that are inherited by an individual from the previous generations (“transmitted fairly unchanged from generation to generation”) of his or her social group (p. 23). The persistence of these “slow-moving” components of culture allows us to use such variables as ethnic origin or culture inherited from the family of origin as exogenous predictors of economic outcomes, thus avoiding the issue of reverse causality. In my study I rely in particular on the assumption of Bisin and Verdier (2000), who maintain that parents have a natural tendency to teach their children what they have learned from their own parents, usually without an appropriate assessment of adequacy of this education. Referring to Cunha and Heckman, Mazzonna (2011) states that a vast body of theoretical and empirical literature already showed that the formation of cognitive and socio-emotional skills is a function of the transfers from the family of origin (e.g. cognitive ability, physical appearance, attitudes, and family connections as well as cultural traits). In the next step it has been already shown that these transfers are a key determinant of the economic success of children at an adult age (Mazzonna 2014: 26). The three current papers take this claim one step further and show that the effect of these transfers go far beyond the adult outcomes to influence the older adults’ economic performance. These papers, therefore, might be regarded as a contribution to the life course approach studies, where controlling for the current social and economic variables, one looks at the effects of the inherited culture on older adult’s economic behavior. To study this process I use the Survey on Health, Aging and Retirement in Europe (SHARE). SHARE is a multidisciplinary and cross-national panel database, which collects detailed micro data on health, socio-economic status and social and family networks of more than 85,000 individuals (approximately 150,000 interviews) from 20 European countries (+Israel) aged 50 or over. At the time of writing this thesis, 4 waves of this longitudinal study became available. These waves extend from 2004 to 2012 and are supplemented by the life histories that were collected in Wave 3 (SHARELIFE) and which provide background information as far back in time as childhood health and socio-economic status. Together, SHARE and SHARELIFE provide a wealth of data to address relevant for my study questions (see Börsch-Supan et al., 2013). For example, I examine whether disparities in early-life endowments correlate with older people’s proclivity to engage in unpaid ‘productive activities’ (such as volunteering or informal help). Whether norms, transmitted inside families, help older parents (who make monetary transfers to their grown-up children) to estimate the risk with which the child will renege on created “nonguaranteed debt?” Finally, I study, whether belonging to a linguistic community in Europe matters in determining the participation of older adults in the financial market. Regarding the last question, I rely on the assumption that “language and culture constitute one another, with language being the stable factor that constrains the development of cultural norms” (Licht et al., 2007: 661). The first paper is entitled Early-Life Conditions and Unpaid Productive Involvement at the Age 65 and Older in European Countries. It studies relationships between disparities in early-life conditions and extent and intensity of unpaid productive involvement among people aged 65 and older. The suggested measures of early-life conditions are “cultural capital” of the family of origin, mathematical ability and historical and institutional circumstances, such as experiencing an institutionally caused traumatic event during childhood. The paper uses data from SHARE wave 2 and SHARELIFE. The results confirm that, even after accounting for many other individual-level variables, there exist long-lasting correlations between some of the early-life conditions and involvement in the unpaid productive activities in the old age. The second paper, Uncertainty in Private Inter-Generational Transfers of Money and Time, contributes to the burgeoning literature on private downward intergenerational transfers of money and time in the Western countries. Building on the research, which finds support for the exchange motive of such transfers, this study further investigates determinants of the parental decision to transfer money. The empirical analysis is based on variables from three waves of SHARE, 14,889 parent-child dyads from 12 European countries. After discussing the risky nature of the exchange, I find that this decision to transfer money is dependent on the measures of current and childhood social status of the parents. This is congruent with the findings in the literature on trust that people from higher social status are less likely to be cheated; and that the people, who expect less to be cheated, are more willing to participate in risky transactions. This finding suggests that the parental decision to transfer money is determined by estimated uncertainty regarding the likelihood that the financial transfer will be reciprocated by children, who are expected to provide services later in life. Moreover, the study supplies an empirical support for the idea that this decision is informed by parental knowledge about the cultural norms characterizing their family. Finally, the third paper, Linguistic Communities and Financial Behavior of Older Adults in Europe, compares financial behavior (holding stocks, bonds, mutual funds and/or individual retirement accounts (IRA)) of older adults, belonging to 10 different European linguistic communities: German-speakers in South Germany, German-speakers in Austria and in Switzerland; Italian-speakers in Northern Italy and those in Switzerland; French-speakers in East France, in Belgium and in Switzerland; and finally Dutch in the Netherlands and Flemish in Belgium. Previous research found profound differences in financial behavior among older adults across European countries. However, belonging to different linguistic groups in a country; or to the same linguistic group across different countries was usually neglected as a possible predictor of financial behavior. Recently many other noneconomic factors were found as important determinants of the household financial behavior of older adults, such as effects of social institutions and culture. However, the literature has missed the fact that belonging to different linguistic communities in Europe might serve as a proxy for a latent construct of having/lacking skills and values that are necessary for holding stocks, bonds, mutual funds and/or individual retirement accounts. Using the fourth wave of SHARE, I find first that for three kinds of financial instruments (holding stocks, risky assets and risky assets plus IRA) – after controlling for all possible determinants of private financial market participation – the behavior of the three linguistic communities in Switzerland and of the two communities in Belgium isn't the same, despite they face identical institutions. Second, in some cases (especially, concerning the French-speakers), the financial behavior of a language speaker can be identical, even when facing heterogeneous financial environment (i.e. the behavior is identical across countries). Thus, it is evident that language matters for private financial decisions – at least for some of the major European linguistic groups – even after controlling for a wide range of adequate variables.
Questa tesi di dottorato offre un contributo alla sempre più crescente letteratura economica che studia gli effetti delle variabili di tipo sociale e culturale sul comportamento economico degli adulti anziani in Europa. Landes, citato in Guiso et al. (2006), afferma che “se possiamo apprendere qualcosa dalla storia dello sviluppo economico, è che la cultura fa tutta la differenza” (pag. 29). In effetti, in questi ultimi anni gli economisti stanno cercando di applicare i loro quadri teorici di analisi e i rispettivi strumenti empirici per studiare il ruolo della cultura sugli effetti economici (Guiso et al., 2006). Molti studi hanno già direttamente collegato gli effetti economici alle differenze culturali. Nei miei paper utilizzo il termine cultura così come viene definito da Guiso et al. (2006). Questa definizione si sofferma solo su quegli aspetti della cultura (credenze, valori o capacità) che vengono ereditati da un individuo dalle generazioni precedenti (“trasmessi in modo relativamente immutato di generazione in generazione”) del proprio gruppo sociale (pag. 23). La persistenza di queste componenti “rallentate” della cultura ci permette di utilizzare variabili come l'origine etnica o la cultura ereditata dalla famiglia di origine come elementi predittori di natura esogena degli effetti economici, evitando così la questione della causalità inversa. Nel mio studio mi affido in particolare all’ipotesi di Bisin e Verdier (2000), che sostengono che i genitori hanno una naturale tendenza ad insegnare ai loro figli ciò che hanno imparato dai propri genitori, di solito senza un’adeguata valutazione dell’adeguatezza di questa educazione. Riferendosi a Cunha e Heckman, Mazzonna (2011) afferma che una vasta letteratura teoretica ed empirica ha già dimostrato che la formazione di abilità cognitive e socio-emotive dipende dalle eredità della famiglia di origine (ad esempio, le abilità cognitive, l’aspetto fisico, le abitudini, i legami familiari, nonché i tratti culturali e genetici). Nel successivo sviluppo di queste tesi, è stato già dimostrato che queste eredità sono un fattore determinante del successo economico e sociale dei bambini quando arrivano all’età adulta (Mazzonna 2014: 26). Questi tre paper fanno fare a questa affermazione un ulteriore passo avanti, poiché dimostrano che il risultato di queste eredità va ben oltre l’effetto sull’età adulta, arrivando ad influenzare il comportamento economico degli adulti anziani. Questi paper, quindi, potrebbero essere considerati come un contributo agli studi che utilizzano un approccio mirato all’intero ciclo di vita, in cui attraverso il controllo delle variabili sociali ed economiche contemporanee, si guarda agli effetti della cultura ereditata sul comportamento economico degli adulti più anziani. Per studiare questo processo, utilizzo l’Indagine su Salute, Invecchiamento e Pensioni in Europa (SHARE - Survey on Health, Aging and Retirement in Europe). SHARE è una banca dati multidisciplinare e multipaese che raccoglie dati individuali su salute, status socio-economico e relazioni sociali e familiari di più di 85.000 individui ultracinquantenni (raccolti approssimativamente attraverso 150.000 interviste) di 20 paesi europei (più Israele). Al momento di scrivere la mia tesi, 4 serie di questa ricerca longitudinale erano disponibili. Queste serie vanno ora dal 2004 al 2012 e sono integrate dalle storie di vita che sono state raccolte durante la terza rilevazione (denominata SHARELIFE), che forniscono informazioni retrospettive che risalgono alla salute e allo status economico nel periodo dell'infanzia. Insieme, SHARE e SHARELIFE rappresentano un importante patrimonio di dati per poter affrontare le mie questioni di ricerca (vedi Börsch-Supan et al., 2013). Ad esempio, è per me possibile studiare se le disparità nei mezzi a disposizione nei primi anni di vita siano correlate con la propensione degli anziani di impegnarsi in “attività produttive” (come, ad esempio, il volontariato o l’aiuto di natura informale). Se le norme trasmesse all’interno delle famiglie aiutino i genitori anziani (che procurano un reddito ai propri figli ormai adulti) a stimare il rischio che il figlio si sottrarrà alla restituzione di questo “debito non garantito”. In ultima analisi, se l’appartenenza ad una comunità linguistica in Europa sia importante nel determinare la partecipazione degli adulti anziani al mercato finanziario. Relativamente a quest’ultima domanda, mi baso sul presupposto che “la lingua e la cultura si compongono l’una dell’altra, poiché la lingua è il fattore costante che vincola lo sviluppo di norme culturali” (Licht et al, 2007: 661). “Condizioni personali nelle fasi iniziali della vita e la partecipazione in attività produttive non remunerate dai 65 anni in poi”. Il primo articolo studia le relazioni tra le disparità esistenti nelle fasi iniziali della vita di una persona e l'entità e l'intensità di un suo successivo coinvolgimento in attività produttive non remunerate dai 65 anni in poi. Si suggeriscono le seguenti misure delle condizioni personali di vita durante le sue prime fasi: il “capitale culturale” della famiglia di origine, le capacità matematiche dell'individuo e le circostanze storiche e istituzionali in cui egli si trova a vivere , come ad esempio la sua reazione ad un evento traumatico istituzionalmente causato durante l'infanzia. Questo articolo utilizza i dati del "Survey on Health, Aging and Retirement" per l'Europa (SHARE) e la sua indagine retrospettiva (SHARELIFE) in cui si raccolgono informazioni sul "background" familiare degli intervistati durante la loro infanzia in 13 paesi europei. I risultati confermano che, anche dopo aver considerato molte altre variabili a livello individuale, esistono correlazioni di lunga durata tra alcune delle condizioni delle prime fasi di vita di una persona e il suo coinvolgimento in attività produttive non retribuite durante vecchiaia. “Incertezza nei trasferimenti intergenerazionali privati di tempo e denaro”. Il secondo articolo intende offrire un contributo alla fiorente letteratura sui trasferimenti intergenerazionali "verso il basso" di tempo e denaro, ossia dagli adulti ai giovani, nei paesi occidentali. Sulla base della ricerca preesistente che supporta motivazioni di scambio tra le vecchie e le nuove generazioni, questo studio intende indagare ulteriormente sulle determinanti della decisione dei genitori di trasferire denaro ai propri figli. L'analisi empirica si basa sulle variabili delle tre ondate di indagine del "Survey of Health, Ageing and Retirement in Europe" (SHARE, 14.889 diadi di genitori-figli di 12 paesi europei). Dopo aver discusso la natura rischiosa dello scambio intergenerazionale, si trova evidenza empirica che questa decisione dipende dalle misure dello status sociale corrente e dell'infanzia dei genitori. Questo risultato è congruente con i risultati della letteratura esistente secondo cui la gente di alto status sociale ha fiducia di avere meno probabilità di essere truffata e secondo cui la gente che si aspetta meno di essere truffata è più disposta a partecipare a operazioni rischiose. Tale scoperta suggerisce che la decisione dei genitori di trasferire denaro ai figli sia determinata dalla stima dell'incertezza circa la possibilità che il trasferimento finanziario sia da loro ricambiato, in quanto ci si aspetta che siano i figli a dover fornire dei servizi ai propri genitori durante la vecchiaia. Inoltre questo studio fornisce supporto empirico all'idea che tale decisione dei genitori è consapevolmente determinata dalle norme culturali che caratterizzano la propria famiglia. “Comunità linguistiche e comportamento finanziario degli adulti più anziani in Europa”. Infine il terzo articolo confronta il comportamento finanziario (possesso di azioni, obbligazioni, fondi comuni di investimento e / o conti pensionistici individuali (IRA, ossia "Individual Retirement Accounts")) degli adulti più anziani appartenenti a 10 diverse comunità linguistiche europee. Si prendono in considerazione le comunità di lingua tedesca in Germania meridionale, in Austria e in Svizzera; quelle Italofone nel Nord Italia e in Svizzera; quelle Francofone nella Francia orientale, in Belgio e in Svizzera; ed infine quelle di lingua olandese nei Paesi Bassi e di lingua fiamminga in Belgio. Le ricerche precedenti hanno evidenziato profonde differenze nel comportamento finanziario degli adulti più anziani nei diversi paesi europei. Tuttavia tali studi hanno trascurato di considerare l'appartenenza a diversi gruppi linguistici in uno stesso paese; o allo stesso gruppo linguistico in diversi paesi, come possibile variabile previsiva del comportamento finanziario degli individui. Recentemente altre ricerche hanno individuato molti altri fattori non economici rilevanti nel determinare il comportamento finanziario familiare degli adulti più anziani, come l'influenza che su di loro hanno le istituzioni sociali e la cultura. Tuttavia in letteratura non si è considerato il fatto che l'appartenenza a diverse comunità linguistiche in Europa potrebbe essere assunta come variabile "proxy" di un fattore latente, quale potrebbe essere il possedere o meno le capacità e le competenze per detenere azioni, obbligazioni, fondi comuni di investimento e / o conti pensionistici individuali. In questo lavoro si trova, dopo aver effettuato un controllo per tutte le possibili determinanti della partecipazione privata nei mercati finanziari, che per tre tipi di strumenti finanziari (azioni, attività rischiose e attività rischiose aggiunte agli "IRA"), il comportamento delle tre comunità linguistiche in Svizzera e delle due comunità in Belgio non è lo stesso, nonostante ciascuna di esse abbia a che fare con istituzioni identiche. In secondo luogo, in alcuni casi (specialmente per quanto riguarda i francofoni), le modalità della partecipazione ai mercati finanziari di chi parla la stessa lingua possono essere identiche anche quando il contesto finanziario è eterogeneo, in altri termini si ha un comportamento finanziario identico da parte di chi appartiene alla stessa comunità linguistica ma vive in paesi diversi. Risulta quindi evidente da questa analisi empirica che la lingua parlata, anche dopo aver controllato per una vasta gamma di variabili adeguate, è rilevante per le decisioni finanziarie private almeno per alcuni dei principali gruppi linguistici europei.

The purpose of this thesis is to use a real-world brand transgression example to extend the research and increase the knowledge around why people continue to consume brands they know have been involved in unethical organizational behavior. The research was of qualitative nature, and made use of semi-structured, in-depth interviews. Nine (9) consumers of the Swedish bank Swedbank, who was involved in a money laundering scandal, were interviewed around their justifications to sticking with the brand. The findings revealed seven (7) justifications to staying. Some of which could be linked to previous research, and some who by the authors’ were argued to be industry-specific. The thesis have implications for theory development, for managers, and for the society as a whole.

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Though many of those who decided to report wrongdoings in their organizations were able to tell their stories (e.g. Bamford, 2014, Armenakis 2004), it is fair to say that there is still much left to uncover. The paper aims to contribute to the literature in three ways. First, it provides preliminary evidence that the wrongdoing linked with individual financial loss leads to higher whistleblowing rate. Secondly, it shows how the experience of anger is related to the higher likelihood to report the wrongdoer but only if the wrongful act is perceived as a cause of one’s financial loss. Finally, the paper establishes first steps for the future development of an experimental procedure that would enable to predict, and measure whistleblowing behavior in the lab environment.

This thesis is composed of two essays that study behavioral economics to motivate health-promoting behaviors. The first paper, "Does Nutrition Education Reduce Delay Discounting?," studies delay discounting, or delayed gratification, which is an important research topic because it plays a role in producing numerous health outcomes, such as obesity. It is important to understand how the delay discounting process relates to unhealthy diets. People who discount the value of future outcomes prefer immediate rewards (e.g., enjoyment/taste) even though a larger reward from delaying exists (e.g., good health status). In this paper, we aim to provide evidence over whether nutrition education reduces delay discounting. Our analysis, therefore, provides guidance for designing more effective interventions to help increase overall health. The second paper, "Are We Reaching Those Most In Need?: Motivation Profiles and Willingness-to-Participate," explores the potentially negative psychological spillover effects (i.e., "crowding out" effects), which can complicate incentives' effectiveness because it can make targeted behavior (i.e., the aim to improve one's health) less desirable. To understand this "crowding out" effect, our paper examines how different types of motivations (i.e., intrinsic and extrinsic motivations) influence people's willingness-to-participate in a weight control program with and without incentives. This analysis provides further guidance for designing more effective interventions by considering different recruitment strategies to target different individuals, which can minimize the negative spillover of incentives.
Master of Science

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior
The convertibility that money allows, makes him an object simultaneously universal, present in every moment of economic life and that this constitutes a significant part of social life (Moreira, 2000). In this work, we seek to understand the financial behavior of young people who move to Santa Maria in order to study and therefore find themselves in greater contact with personal finance by distance from their families. The present study is characterized as a descriptive and quantitative, the sample being studied natural population of young graduates from other cities who attend undergraduate programs, using questionnaires based on this scale Schwartz Meaning of Money (1992) adapted by Moreira (2000). 500 questionnaires were obtained to apply the analysis techniques. As the main technique used was factor analysis and Structural Equation Modeling. Other tests were also used to determine the suitability of the model and further results, for example, the Bartlett test of sphericity, Kaiser-Meyer-Olkin (KMO), among others. The results showed 10 factors: 'conflict', 'positive power', 'progress', 'pleasure', 'culture', 'negative power', 'detachment', 'suffering', 'generosity' and 'stability'. The factor 'conflict' could explain 12.65% of the variance and the factor 'positive power' explained 9.13% of the variance. The highest average was presented by a factor of 'stability' to 3.84 while the lowest average was related to the factor 'suffering' 2.68.
A conversibilidade que o dinheiro possibilita, faz dele um objeto concomitantemente universal, presente em todos os momentos da vida econômica cotidiana e que esta constitui parte significativa da vida social (MOREIRA, 2000). Assim, neste trabalho, busca-se entender o comportamento financeiro dos jovens que se mudam para Santa Maria, RS, Brasil com o intuito de estudar e assim sendo se vêem em um maior contato com finanças pessoais pela distância de suas famílias. O presente estudo se caracteriza como uma pesquisa descritiva e quantitativa, sendo a amostra estudada a população de jovens graduandos naturais de outras cidades que freqüentam cursos de graduação, utilizando para isso questionários baseados na Escala de Significado do dinheiro de Schwartz (1992) adaptada por Moreira (2000). Foram obtidos 500 questionários para aplicar as técnicas de análise. Foi utilizada a Análise Fatorial e a modelagem de Equações Estruturais. Outros testes também foram usados para determinar a adequação do modelo e aprofundar os resultados, como por exemplo: o teste de esfericidade de Bartlett, teste Kaiser-Meyer-Olkin (KMO), entre outros. Os resultados mostraram 10 fatores: conflito , poder positivo , progresso , prazer , cultura , poder negativo , desapego , sofrimento , generosidade e estabilidade . O fator conflito conseguiu explicar 12,65% da variância e o fator poder positivo explicou 9,13% da variância. A maior média foi apresentada pelo fator estabilidade com 3,84 enquanto a menor média foi relacionada ao fator sofrimento 2,68.

The diploma thesis analyses the influence of money on the economic instability by the view of Post Keynesian economic theory. The paper answers the question, what creates the economic instability and if it's possible to eliminate or least reduce the instability. The money is here always seen as credit, which is made by institutions on the financial market. We need trust to create money. However the confidence is based on long-term expectations, which are not rational. The result of the analysis is that the trust growth in economy leads to growth of creation of money, whereby more money based on irrational, by psychology influenced expectations, is made. The economy becomes less stable, because there is more money in it, than people will have in the future to pay for its extinction. As the irrational expectation is an exogenous variable, which basically cannot be influenced, the economic instability is ineliminable and therefore allied to economy. We can only reduce instability by focusing on limiting factors in the creation of money, or on areas, where the irrational action can vent itself. Into consideration comes regulation of the financial institutions size, or regulation of international capital flow.

There is a limited amount of research in psychology regarding the impact of money on the therapeutic relationship. Although some research regarding clients’ transference vis-à- vis money exists, clinicians’ countertransference concerning money has been largely ignored. As money and discussion of fees often generate negative countertransference for clinicians, it is likely that this material will not be addressed in the clinicians’ personal work, and therefore it risks being harmful to the therapy process. The author’s goal is to demystify the subject of money in the clinical setting and make it easier for clinicians to discuss money, fees, and the financial aspects of therapy with their clients, while minimizing the harmful impacts of therapists’ countertransference on the therapeutic frame. Using heuristic and hermeneutic methodologies, the author uses his own experiences as a nascent therapist to illustrate some ways for clinicians to address and minimize the negative impact of their money issues on their work.

This study investigates the relationship between the values of money, perception and risk behavior among college Maranhão. The study is characterized as a descriptive and quantitative research, being studied in the population of young undergraduates enrolled in courses at the Center for Social Sciences at the Federal University of Maranhão sample, and the survey instrument consists of questions based on the Meaning Scale money (Moreira; Tamayo, 1999) and Perception Scale and Intent to present behavior of Risk (WEBER; BLAIS; BETZ, 2002; PAULINE, 2009). Data were collected at random in the city of Sao Luis MA, in a survey of 363 college students. As the main technical Correspondence Analysis, whose results were obtained from the perception of study participants, represented visually in the form of geographical maps was used, detecting the close relations between the constructs values of money, loss aversion, perception risk and risk behavior. The main results show that subjects who had medium and high levels of cash values to have a close relationship with and who had high average rating for loss aversion. It is noticed also that there is a close relationship between respondents who had high and average perception of money values with high and medium risk perception, and the existence of a close relationship between those who obtained high and medium value of money with medium risk and low, these results indicate that among the university higher levels of cash values o be linked with lower levels of risk (perception + behavior). The main results indicate that the investigated sample perceived high values for the money, the positive and negative dimensions, indicate an average risk perception and behavior of conservative risk.
O presente estudo buscou analisar a relação entre os valores do dinheiro, a percepção e comportamento de risco entre os universitários maranhenses. O estudo se caracteriza como uma pesquisa descritiva e quantitativa, sendo a amostra estudada entre a população de jovens graduandos regularmente matriculados nos Cursos do Centro de Ciências Sociais da Universidade Federal do Maranhão, sendo o instrumento de pesquisa constituído de questões baseadas na Escala de Significado do Dinheiro (MOREIRA; TAMAYO, 1999) e na Escala de Percepção e de Intenção de apresentar comportamento de Risco (WEBER; BLAIS; BETZ, 2002; PAULINO, 2009). Os dados foram coletados de forma aleatória na cidade de São Luis MA, em uma pesquisa com 363 universitários. Como técnica principal foi utilizada a Análise de Correspondência, cujos resultados obtidos foram provenientes da percepção dos participantes do estudo, visualmente representados sob a forma de mapas geográficos, detectando as relações de proximidade entre os construtos valores do dinheiro, a aversão a perda , percepção de risco e comportamento de risco. Os principais resultados apontam que os indivíduos que tiveram níveis médio e alto para valores do dinheiro tem uma relação de proximidade com quem teve alta e média classificação para aversão a perda. Percebe-se, ainda, que há uma relação de proximidade entre os entrevistados que obtiveram alta e média percepção de valores do dinheiro com alta e média percepção de risco, e a existência de relação de proximidade entre os que obtiveram alto e médio valor do dinheiro com risco médio e baixo, tais resultados indicam que entre os universitários os níveis maiores para valores do dinheiro estariam ligados com níveis menores de risco (percepção + comportamento). Os principais resultados na amostra investigada apontam que alta percepção para valores do dinheiro, nas dimensões positiva e negativa, indicam uma percepção de risco médio e um comportamento de risco conservador.

This thesis is an exploration of the perceptions of a group of humans in interaction with a group of non-human primates in a professional animal research setting. The study is a novel investigation in the field of intercultural relations, exploring the values and beliefs of a group of research employees, and the intercultural competence and sensitivity these employees model in their interactions with the animals they work with. A focus group was conducted at the Oregon National Primate Research Center and 8 individuals working with non-human primates were interviewed. They were asked a series of 15 open-ended questions in order to explore their identification and appreciation of cultural differences, as well as their general strategies for adapting to cultural difference in the context of an animal research setting. The results of this meeting reflect a range of perceptions, attitudes, and beliefs relative to culture and the possibility of an intercultural relationship between species.

Bakgrund: Under flera år har några av Sveriges största banker kritiserats under den så kallade “penningtvätts-härvan”. Media har till stor del uppmärksammat skandalen utifrån ett företagsperspektiv men desto mindre ur ett kundperspektiv. Skandalernas relevans och aktualitet öppnar upp för att undersöka på vilket sätt bankkunder reagerar till följd av penningtvättsskandaler. Syfte: Syftet är att undersöka vilken effekt penningtvättsskandaler har på konsumenters befintliga attityder gentemot banker. Med anledning av de senaste årens uppmärksammade bankskandaler i Sverige görs undersökningen för att avgöra om attitydförändringen vidare har någon påverkan på konsumenters beteende i förhållande till bankerna. Tidsperspektivet gör denna studie relevant för att undersöka i vilken utsträckning konsumenter påverkas av denna typ av skandal vilket ger viktiga insikter för finansföretag. Metod: För att uppfylla vårt informationsbehov bestod vår empiri av kvantitativ data som samlades in genom enkäter. Vi var intresserade av att undersöka om det fanns ett samband mellan studenters attitydförändringar och beteende gentemot bankerna. Urvalet bestod av studenter som läser någon form av ekonomisk inriktning vid Högskolan i Borås. I enkäterna presenterades ett fiktivt fall där en penningtvättsskandal illustrerades samt information om hur studenterna skulle påverkas av skandalen. I det ena fallet drabbades studenterna ekonomiskt negativt av skandalen medan de inte drabbades i det andra fallet. Vi skickade således ut tvåenkäter, där hälften av urvalet fick den ena enkäten medan den andra hälften fick den andra. Resultat: Många av studenterna har relativt stabila relationer till sina banker innan skandalerna. Efter skandalerna värdesatte studenterna främst det egna intresset vilket medförde att de inte längre var lika lojala gentemot sina banker. Det skedde en tydlig attitydförändring blandstudenterna efter skandalerna oavsett ekonomisk påverkan. Slutsatser: Utifrån undersökningens modifierade modell kan vi dra slutsatserna att studenternas värderingar, egenintresse och lojalitet till banken tillsammans bidrar till en attitydförändring till följd av skandalerna. Det innebär att penningtvättsskandalen i de fiktiva fallen visade sig ha en effekt på studenternas befintliga attityder gentemot deras banker. Denna attitydförändring mynnar vidare ut i ett beteende orsakat av skandalerna.
Background: For several years, some of Sweden's largest banks have been criticized during the so-called “money laundering scandal”. The media has largely drawn attention to the scandal from a business perspective, nevertheless from a customer perspective. The scandal's relevance and timeliness opens up to investigate how bank customers react due to money laundering scandals. Purpose: The purpose of this study is to investigate the effect of money laundering scandals on consumers' existing attitudes towards banks, based on the recent banking scandals in Sweden in recent years. This is to determine if the change in attitude further has any effect on consumerbehavior in relation to the banks. The time perspective makes this study relevant to examining the extent to which consumers are affected by this type of scandal, which provides important insights for financial companies. Methodology: To fulfill the purpose of the study, our empirical data consisted of quantitative data collected through surveys. We were interested in investigating whether there was a connection between students' attitude changes and behavior towards the banks. The sample consisted of students who study some form of financial orientation at the University of Borås. The survey presented a fictitious case in which a money laundering scandal was illustrated as well as information on how the students would be affected by the scandal. In one case, the students were financially negatively affected by the scandal while in the other case they were not affected financially. Half of the students received the survey were they were negatively affected and the other half, the one where they weren´t affected. Findings: Many of the students seemed to have relatively stable relationships with their banks before the scandals. Following the scandals the students seemed to value their self-interest which meant that they were no longer as loyal, as before, to their banks. There was a clear change in attitude among the students following the scandals regardless of financial impact. Conclusions: Based on the study’s modified model, we can conclude that the students' values, self-interest and loyalty to the bank contribute to a change in attitude towards the bank as a result of the scandals. This means that in the fictitious cases, the money laundering scandal had an effect on the students' existing attitudes towards their banks. The change in attitude further leads to a behavior caused by the scandals.

Doctor of Philosophy
Department of Personal Financial Planning
Sonya L. Britt
John E. Grable
This dissertation explores financial behavior outcomes based on economic, relational, and behavioral characteristics within marriages and individually. Data for the three essays are obtained from the National Longitudinal Survey of Youth 1979 cohort (NLSY79) and the NLSY79 Child and Young Adult (1986-2008) survey. Essay one examined the determinants of money arguments within marriage utilizing Lundberg and Pollak’s (1994) theory of non-cooperative game theory. Respondents’ negative financial behaviors, higher income, and birth order (being laterborn) were found to influence a greater frequency of money arguments. Essay two examined the predictors of individuals’ financial behaviors, specifically socialization characteristics and gender role attitudes (traditional versus non-traditional). Using a theoretical framework of gender role theory (Eagly, 1987), younger age, not being married, being non-Black, non-Hispanic, being males, and having higher income were all found to be predictive of at least of one of the three financial behaviors used in this study. Finally, using a theoretical framework of Becker’s (1993) theory of human capital, essay three explored the intergenerational transfer of attitudes and human capital across two generations and their possible link to the respondents’ financial behaviors. Results showed that mothers’ enhanced human capital, endowed and attained, and nontraditional gender role attitudes have a significant positive impact on the children’s financial behaviors. Respondents’ income was also found to be significant. Combined results of the dissertation reveal that a link exists between the three issues discussed in the individual papers. Essay one examined what factors, including financial behaviors, might influence spousal money arguments. In response, essays two and three explored the predictors of financial behaviors within one generation and across two generations. These studies may be beneficial to financial planners, counselors, and therapists by exposing specific determinants of positive versus negative financial behaviors. These findings also provide useful information for policymakers in creating programs that best serve the needs of individuals related to their personal financial issues. Overall, by exploring not only monetary, but attitudinal and socialization effects of financial behaviors, this study adds to the body of knowledge related to the encompassing field of personal financial planning.

The present thesis focuses on three topics within the domain of consumer behavior: self-regulation, the psychological consequences of money, and consumption rituals. The first chapter, devoted to self-regulation, presents a new moderator for the ego depletion effect: velocity feedback. Velocity feedback refers to the perceived speed at which a goal is attained. Three laboratory experiments show that fast velocity feedback can prevent the ego depletion effect and that slower-than-expected velocity feedback can create the ego depletion effect. The second chapter, devoted to the psychological consequences of money, explores the surprising relationship between reminders of money abundance and life meaningfulness. Two laboratory experiments show that individuals who have been reminded of money report having a more meaningful life. This relationship is shown to be fully mediated by self-esteem. The third chapter, devoted to consumption rituals, explores the effect of sharing a consumption ritual on interpersonal attraction. Two laboratory experiments show that when people follow a consumption ritual, they evaluate others who follow the same ritual more positively: an appreciation effect. The appreciation effect was found to be partially mediated by one's feelings of pride, and moderated by whether the target person enjoys the product associated to the ritual.
Esta tesis se centra en tres temas de la literatura sobre comportamiento del consumidor: la auto-regulación, las consecuencias psicológicas del dinero, y los rituales de consumo. El primer capítulo, dedicado a la auto-regulación, presenta un nuevo moderador para el efecto de ego depletion: velocity feedback. Se entiende por velocity feedback la rapidez percibida con la que se alcanza una meta u objetivo. Tres experimentos de laboratorio muestran que el efecto de ego depletion puede ser neutralizado por una velocity feedback elevada pero generado por una velocity feedback más lenta de lo previsto. El segundo capítulo, dedicado a las consecuencias psicológicas del dinero, explora la sorprendente relación entre los recordatorios de abundancia de dinero y el sentido de la vida. Dos experimentos de laboratorio muestran que los individuos a quienes se les ha activado el concepto de abundancia de dinero reportan que su vida tiene más sentido. Esta relación está completamente mediada por la autoestima. El tercer capítulo, dedicado a los rituales de consumo, explora el efecto que compartir un ritual de consumo tiene en la atracción interpersonal. Dos experimentos de laboratorio muestran que la gente que sigue un ritual de consumo evalúa a otros que también lo siguen más positivamente. Este efecto está parcialmente mediado por los sentimientos de orgullo, y moderado por el hecho de si la otra persona disfruta o no el producto asociado al ritual.

nÃo hÃ
O estudo da lealdade de uma marca permite que as empresas que atuam no varejo possam desenvolver estratÃgias assertivas para manter clientes atuais e atrair novos consumidores. Partindo deste pressuposto, a presente pesquisa tem por objetivo principal analisar a diferenÃa da relaÃÃo entre a lealdade de marca e os atributos de compra de confecÃÃo infantil em lojas especializadas e lojas de fÃbrica. Como forma de analisar essa relaÃÃo, foi desenvolvida uma pesquisa quantitativa, composta de 20 variÃveis relacionadas aos atributos da relaÃÃo preÃo qualidade, qualidade do produto e atmosfera de loja. A amostra do estudo foi composta de 201 mulheres, consumidores e compradoras da marca pesquisa. Os dados da pesquisa foram coletados em novembro de 2013 e submetidos a testes estatÃsticos de anÃlise fatorial e regressÃo mÃltipla. A partir dos testes estatÃsticos, foi identificado que, dos 20 itens pesquisados, os atributos com maior relaÃÃo com a lealdade de marca sÃo: imagem da loja, diferenciaÃÃo do produto, produto melhor que a concorrÃncia, acabamento do produto e relaÃÃo preÃo-qualidade
The study of the loyalty of a mark allows companies operating in retail can develop assertive strategies to retain current customers and attract new consumers. Under this assumption, the present study has as its main objective to analyze the difference of the relationship between brand loyalty and purchase attributes of infant clothing at specialty stores and factory outlets. In order to analyze this relationship, a quantitative survey was developed, consisting of 20 variables related to the attributes of value for money, product quality and store atmosphere. The study sample consisted of 201 women, consumers and buyers of brand research. The survey data was collected in November 2013 and submitted to statistical tests of factor analysis and multiple regression. From the statistical tests, it was identified that, of the 20 items surveyed, attributes more related to the brand loyalty are: store image, product differentiation, product better than the competition, product workmanship and value for mon

碩士
國立高雄第一科技大學
財務管理研究所
103
This paper researches that whether the stock that conforms house money behavior under the program trades has the excess return. House money behavior means that investors are more prone to buy higher-risk stocks after a profitable trade. Conversely, investors will not buy any share, because they afraid of losing money again. Therefore, the stocks that conform house money behavior are the price consolidation of increments. When the trading volume is shrinking the price will reduce. First, we set up the investment portfolio by daily, choice the stock with hit the new records on twenty straight days during t period, and volumes of stocks are double to triple its average 10 days (the stock price in t+2 must higher than t period). Also selling the stock when the volume of stock decreasing obviously. The samples of this research are selected from 2010 to 2014. As a result, the investment portfolio that conforms house money behavior from the samples is able to get positive excess return after the deduction of costs. This empirical study follows Barberis and Huang’s theory that the house money behavior makes stock price increase. It can be also applied in practices.

碩士
佛光大學
應用經濟學系
104
Since mutual funds have low entry barrier and managed by professional expert, most of the investors would prefer to opt for this type of investment. In terms of scale, currency mutual funds would perhaps be one of the most significant funds. The purpose of this study is to investigate the relationship between investor’s cash against the influence of mutual fund purchase placement and mutual fund performance. In addition, research method uses Quantile Regression & Ordinary Least Squares. The results indicate: 1.For currency mutual funds investors, the result indicates that when investor is low in cash ratio, fund redemption would occur, whereas, when cash ratio reaches 60th the quantity for fund purchase would increase. However, on the other hand, for stock mutual funds investors, the result indicates that when investor is low in cash ratio the quantity for fund purchase would increase and vice versa. 2.In terms of the correlation between cash ratio and currency mutual funds, the result indicates that low cash ratio would have a positive correlation; however, structure change would occur after 50th (from positive to negative correlation). Whereas for stock mutual fund the correlation is negative. 3.Most of the investors prefer currency and stock mutual funds with large scale and low management fees, however, in terms of performance, large scale with high management fees are generally the ones which perform the best

碩士
南台科技大學
企業管理系
94
ABSTRACT With the extensive establishment of the financial commissioner of management of personal money .the whole satisfaction (but not performance profit-making of goods financial non-specific ) of consumer management of personal money gradually be pay attention to、the research of manages money matters attitude and the money resources are probed into different consumer's characteristics、financing of enter degree 、goods is it have a partiality for to choose 、and manage money matters degree of focusing on information of content to wade、how to influence the whole satisfaction of the management of personal money. The result of study shows：the whole satisfaction of the management of personal money can be obviously divided into the non-financial affairs (whether personal life grow up and enjoyment)、and the financial affairs (profit-making remuneration and fund application ) two mainly satisfaction degree、the lower the personal family income or the financing involves in entering the degree to manage money matters. emphatically the higher and fairness information、or having a partiality for the security financing goods 、or the less having a partiality for profitability financing goods、is that non-financing satisfaction financial affairs will be high ;It is the finer that the management of money enters to wades、or the higher of the interpersonal relationships resources degree、the less have a partiality for the financing goods with high mobility ,the higher the financing satisfaction of financial affairs.；With the higher family financing income person、or low financing goods involves degree .chooses profitability financing goods ,it is non-financing satisfaction the financial affairs to increase;The person who manages money matters with abundant and fairness of the message content emphatically、choose the profitability goods .it is non-financing satisfaction will be low ;The financing person of power of the money attitude with the stronger、choose the security financing goods ,or less choose the profitability financing goods,will increase the financing satisfaction the financial affairs ;Interpersonal relationships manage money matters resource higher person、choose the profitability financing goods,will be low the financing satisfaction of financial affairs .

碩士
國立虎尾科技大學
企業管理系經營管理碩士在職專班
107
This empirical study takes the participants in Taiwan as the research subjects, and uses literature review and surveying using questionnaires to investigate the relationship among lifestyle, perception of money, and consumer behavior. This study was conducted by random sampling. The research questionnaires were distributed on March 1, 2019 and were recollected on March 30, 2019. A total of 500 questionnaires were distributed and of those 500, 451 were recollected. The questionnaire recovery rate was 90.20%. After the invalid questionnaires were taken out, there were a total of 429 valid questionnaires which means the effective recovery rate was 85.50%. According to the requirements of the research purposes, we utilize descriptive statistical methods, reliability analysis, validity analysis, factor analysis, independent sample t-test, analysis of variance, Pearson product difference correlation analysis and multiple regression analysis methods for empirical analysis. The empirical results are found below: 1. Subjects of different ages have shown significance in standards of lifestyle: risktaking, independence and health of lifestyle, different marital status have shown significance in standards of life: risk-taking and family, different monthly disposable income have shown significance in independence: health and family, different residential area have shown significance in autonomy and independence. 2. Subjects of different gender have shown significance in standards of perception of money: measure of success and distribution and expenditure of income. Differences in gender have also shown significance in standards of perception of money: calculated decisions. Differences in educational background have shown significance in perception of money: pleasure and entertainment. Differences in occupation have shown significance in perception of money: measures of success. Differences in monthly disposable income have shown significance in perception of money: calculated decisions. Differences in residential areas have shown significance in perception of money: measures of success. 3. Subjects of difference gender have shown significance in consumer behavior: pursuit of brands and flaunting. Differences in age have shown significance in consumer behavior: flaunting. Differences in marital status have shown significance in consumer behavior: cautious spending, quality emphasis, and flaunting. Differences in educational background have shown significance in consumer behavior: cautious spending and quality emphasis. 4. Lifestyle and perception of money are significantly related. 5. Lifestyle and consumer behavior are significantly related. 6. Perception of money and consumer behavior are significantly related. 6. Lifestyle and consumer behavior significantly affect consumer behavior.

A research report submitted to the Faculty of Humanities, University of the Witwatersrand, Johannesburg, in partial fulfilment of the requirements for the degree of Social Anthropology March 2019
Compensated relationships between younger women and older, moneyed men have been established as the cause of new HIV infections in South African women aged 15 – 24 years old. A great portion of the literature on young love in South Africa reproduces the connection between compensated relationships and illness. In this dissertation, I establish how young women in Johannesburg define and practice love and intimacy in their compensated relationships in the era of social media and the #blessed lifestyle. It highlights the spaces and relationships that inform their romantic choices. The research setting is Johannesburg and social media. The methods that are used this study are face-to-face and WhatsApp interviews as well as participant observation on Twitter. I argue that social media use is reconfiguring the meanings of love and intimacy for young women in Johannesburg. The physical context affects their views and actions around their relationships. Through increasing engagements in virtual spaces, young women recognise their individual choices to date with compensation as a response to the wider social vulnerability collectively experienced by women in private and public spaces all over South Africa. In response to that danger, young women use their individual romantic relationships to supplement their lifestyles monetarily in the case of personal endangerment as well as for pleasure.
NG (2020)

碩士
中州科技大學
機械與自動化工程系
106
With the changes in the global economic environment and industrial structure, for the newly-financed financial industry, even if wages are relatively better than most industries, they still have to cope with soaring prices, and they must face the wave of global financial technology (FinTech). The impact. Therefore, to cultivate sound financial attitudes and correct consumer behavior, and to actively study all kinds of financial management investments, in the future, in addition to spending on daily living, we can also have an appropriate proportion of savings, leisure, married, children’s education, and even home purchases. The ability to allocate will only have the opportunity to achieve its own beautiful life in response to changes in the economy and situation. This study will investigate the financial attitudes, consumer behaviors, and financial management behavior of the financial industry's fresh people in the central region (who have worked for less than three years). The research will be based on questionnaires, and the statistical package software IBM SPSS Statistics 20 will be used as the main tool for data analysis. Reliability and validity analysis, narrative statistical analysis, variance analysis, and regression analysis will be performed.

碩士
國立中興大學
應用經濟學系所
99
The purpose of this research is to realize and analyze the money attitude and consumer behavior of the junior high school students (including the foreign Spouses'' children studying in junior high school) and probe into the factors affecting the money attitude and consumer behavior. We look forward to providing the references upon the money attitude and knowledge of economic activities for both family education and school education. A questionnaire method is adopted in this research; there are total 215 junior high school students (137 local students and 78 foreign students) in Dali City, Taichung County are proceeded with the questionnaire survey based on the purposive sampling. The received information is analyzed by the statistical methods of descriptive statistics, t-test, one-way ANOVA and multiple regression analysis. The conclusion of this research in accordance with the survey is as below: 1.A junior high school student with different personal factors shall have different money attitude and consumer behavior. 2.A junior high school student with different family factors shall have different money attitude and consumer behavior. 3.The money attitude and consumer behavior are different between the students who are foreign spouses'' children and local students. 4.The personal factors, family factors and money attitude of junior high school student may affect the consumer behavior.

碩士
健行科技大學
財務金融系碩士班
104
This study aimed to investigate whether srudent family structures haveimpact on older pupils’ money education and consumption behaviors. Questionnaire method was adopted in this study. After withdrawing 286 copies of questionnaire from fifth and sixth graders of one elementary school in Taoyuan, T-test, One-way ANOVA and Pearson’s product-moment correlation were utilized for quantitative data analysis. Based on the data analysis, the main findings of this study were generalized as follows: 1.In money education, most subjects tended to be careful of dealing with money. Saving pocket money, dealing with money and how much parents gave were important issues in money rearing. 2.In consumption behaviors, most subjects seemed to behave with sense, including consumption on classmates’ recommendations, giving up what they were unable to afford one, purchasing durable goods, avoiding spending a lot on singers and actors, and discerning necessary from wanted when the exciting products attracted them. 3.There’s a positive correlation between money education and consumption behaviors, that is, pupils’ attitudes toward money which were formed at school and home are correlated with their consuming choices. 4.The pupils reared by grandparents scored lower than those from double-parent families, foreign spouse families and single-parent families. The most probable cause of this issue is that lots of grandparents dote on their grandchildren. That they satisfy the needs of their grandchildren will lead to improper consuming attitudes and behaviors.

碩士
中華大學
科技管理研究所
94
Abstract Weight will be shifted from venture loan to the trend of the consumer loan in the bank, the bank and development in economy be brought positive effect through growing in the consumer loan, but while the loan increases and also exposes the serious problem of default on consumer loan. The consumer loans leads to the problem of non performance loan in Taiwan. It is not only just a financial problem but also effects economy. It is a big problem in Taiwan; however, how to solve the problem is very important, but more important thing is how to prevent it. In order to suppress the possibility of non performance loan so established predicted model is imperative subject. Many research of the consumer loan that usually stresses comparison of the forecasted method and the selection of forecasted variables, and lack of the discussion by itself intrinsic characteristic to effect the external behavior through personal behavior theory. So, the purpose of this research is to understand the difference between money attitude and financial literacy of default and non-default loan, and cooperates with influence relations between loan behavior and information from the loan applicant, then set up predicted model to offer banker a better way to risk control. This research evaluate customer of consumer loans in financial institution at Hsinchu to use Money Attitude Scale (MAS) developed by Yamauch and Templer (1982) and CV financial literacy scale of Chen and Volpe (1998 ).The total of 350 observations, responses are received from 281 borrower, a response rate of 80.2% and establishes predicted model by Logistic regression analysis. The results found the difference in money attitude、financial literacy and information from the loan applicant for different loan behavior, then combined all explanatory factors to set up predicted model. It shows career、retention、distrust and insurance factors were significant influence the loan behavior. By the cross-validate analysis known predicted model that the rate of accuracy was up to 75.55%, the specify has 91.3% and the sensitivity was 32% when cutoff value at 0.5, but adjusted cutoff value was 0.28 that sensitivity could raise to 64%, the model has ability to discriminate for default on loans. In brief, this study not only found difference in money attitude、financial literacy for borrower but also provide different views for default predicted model to bank and financial institution.

碩士
長榮大學
管理學院經營管理碩士班
106
Abstract According to the statistical data of the Financial Supervisory Commission, young people investing in stocks have apparently decreased in recent years. For this phenomenon, this study intends to further explore how the finance majors think about money and invest in the stock market after they received the complete and professional eduaction and training in the university; whether there are significant correlations between the different opinions of money and their investment behaviors in stocks. To understand the finance majors’ opinions of money, financial management and their investment behaviors in stocks, a questionnaire survey was used to collect the data. With the SPSS statistical software, 22.0 version, all the data could be analyzed through the descriptive statistics, independent sample t-test, single factor analysis of variance and regression analysis. Furthermore, it also explores whether the finance majors’ opinions of money have significant influences on the financial management and investment behaviors in stocks. According to the results of the statistical analysis, the first choice of financial tools for the finance majors is insurance, following by stock and bank deposits. Moreover, male graduates prefer investing in stocks; female graduates prefer insurance instead. In terms of the performance of their opinions of money, the average score of the "time-retention" variable is the highest. As for the "time-retention" and "enjoyment" variables, they both have significant positive effects on the “current amount of stock investment in Taiwan." However, the"distrust" variable has a significant negative effect on the "current investment amount in stocks in Taiwan." Through the study, it indicates that the average of current investment amount in stocks is less than NT$ 500,000 dollars.

碩士
國立高雄第一科技大學
金融營運所
96
The study aims to understand the relation between money attitude and risk perception in the investment behavior of mutual funds. Questionnaires were given to employees of banking institutions and to investors. 260 valid questionnaires were received and the structural equation model was used to analyze the relation of investment behavior to money attitude as well as to risk perception. The results were divided into two parts: (A) Variation in population differentiation 1. Gender status: female investors are much more anxious in their money attitude than are male investors. 2. Marriage status: married investors who have children enjoy the power and fame brought by money, much more than do unmarried investors or married investors without children. 3. Age: investors who are under 35 years old enjoy the power and fame brought by money much more than do investors more than 35 years old; they are much more anxious in their money attitude than are investors under 35 years old. 4. Individual total investment amount: investors who invested less than 500,000 NTD have a conservative money attitude compared to investors who invested more than 500,000 NTD. They believe that investment timing is important. (B) Structural equation model 1.Investors who invested in equity funds were influenced by investment timing, fund quality, anxiety factors and risk perception. 2.Investors who invested in currency funds were influenced by anxiety factors. 3.Investors who invested in bond fund were influenced by fund quality. As a result, investors who are facing higher risk are often influenced by fund quality and risk factors. Investors who invested in currency funds felt unsafe about money and investors who invested in a fixed income commodity have a higher requirement in terms of living standard.

碩士
國立中山大學
經濟學研究所
95
“Save for a rainy day”, a well known theory proposed in Campbell(1987), indicates that the current consumption depends on the rational prospect of future economy. Nevertheless, within a highly developed economy, individual’s consumption is often affected by various factors, for instance, the rate of time preference, interest rates and inflation, …etc. Therefore, a rational representative consumer should take all possible information available to them into consideration in making decisions regarding optimal consumption; meanwhile, this will in turn affects a country’s current accounts and domestic credit as well. Based on the viewpoints of consumption-smoothing and permanent income hypothesis, we modify Ghosh(1995a)’s methodology to incorporate one of the most important macroeconomic variables, “money” into the intertemporal approach to the current account to explore its influence in explaining the difference between theoretically predicted and actual current accounts. In this study, four major industrialized countries: Canada, Japan, the US and UK are investigated by adding money as one of the key elements in explaining their current accounts dynamics. According to the empirical findings, not only the national cash flow (output minus investment and government expenditure) as stated in the literatures but money stock also reflect their influential effects in determinating the dynamic behavior of current accounts also. Therefore, money dose play a crucial role in our extensive method in explaining what traditional method can not explain. Further, we used six kinds of test which are introduced by Diebold and Mariano（1995）to compare which estimation model has better explaining power to forecast the actual current account. As a whole, the current accounts of these four major industrialized countries indeed acts as a buffer to smooth consumption in facing fluctuations of shocks to national cash flow and money stock.

碩士
嶺東科技大學
經營管理研究所
102
Abstract The purpose of the study is to investigate opinions of money attitudes and investment behavior of elementary school teachers in Miaoli County. Teachers' money attitudes and current status of investment behavior were first analysis. How teachers’ backgrounds affect their money attitude and investment behavior was then discussed. Finally, the correlation between money attitude and investment behavior was reported. Using questionnaires and stratified random sampling to achieve the research objectives, distributed to 102 school year teachers in public elementary schools in Miaoli County. Three hundred eighty-six valid responses accounted for 94.61% of all questionnaires distributed. Studying data were analyzed by descriptive statistics, T-test, ANOVA, Chi-square test, and Pearson's Correlation were conducted. Statistical analyses revealed the following findings: 1. Teachers’ agreement of money attitude was anguish and anxiety cautious and conservative. Generally cautious conservative attitude towards. 2. In a different gender, age, qualifications in attitudes toward funding the money. 3. In investment behavior, the top for main motivation are "the use of idle funds". The top for investment information are "friends". The top for investment vehicles are "bank". The top for choose a major factor are "investment risk". 4. People in different backgrounds have remarkable different reasons for investment behavior. 5. Money attitudes and investment behavior have related of elementary school teachers in Miaoli County. Keywords: elementary school teacher , money attitudes , investment behavior

Every consumer decision incurs a cost. An hour spent researching products is an hour not spent working. Vacation days used in the winter are vacation days not used in the summer. A dollar spent on a car payment is a dollar not spent dining out. What determines the extent to which consumers consider such opportunity costs when making decisions?

Although every purchase requires an outlay cost (i.e., spending dollars in order to obtain a good), outlay costs only have economic significance because some other good or service must be given up as a result. Consumers have unlimited wants but limited resources, so satisfying one want means not satisfying another (the opportunity cost). An opportunity cost is "the evaluation placed on the most highly valued of the rejected alternatives or opportunities" (Buchanan 2008) or "the loss of other alternatives when one alternative is chosen" (Oxford English Dictionary 2010). Opportunity costs are foundational to the science of economics and, normatively, consumers should account for opportunity costs in every decision they make. I define opportunity cost consideration as "considering alternative uses for one's resources when deciding whether to spend resources on a focal option."

Because consumers face opportunity costs, every purchase decision is effectively a choice among alternative resource uses, not just a decision of whether or not to make a particular purchase. When consumers consider their opportunity costs, alternative resource uses specify the broadest form of competition that products face: each resource use competes for share-of-wallet with all other potential resource uses. Understanding when consumers consider a purchase decision as an allocation across multiple options, and what those considered options are, allows researchers and practitioners to better understand why consumers make the purchases that they do, why they restrain from making the purchases that they do not, and how to influence purchases of focal options by increasing or decreasing consideration of alternative resource uses.

What determines when consumers consider opportunity costs? In Essay 1, I propose that consumers consider opportunity costs when they perceive immediate resource constraints. In Essay 2, I propose that consumers consider opportunity costs when the resource in use increases the accessibility of alternative resource uses in memory.

Beyond addressing when consumers consider opportunity costs, I address three additional questions. First, who is more likely to consider opportunity costs? Individuals with a high propensity to plan are likely to consider opportunity costs even when they are not immediately constrained. Second, which opportunity costs are consumers more likely to consider? Consumers are more likely to consider opportunity costs that are more typical of the category of possible resource uses than opportunity costs that are less typical of the category of possible resource uses. Third, what are the consequences of opportunity cost consideration? Individuals who consider their opportunity costs are more sensitive to their value than those who do not consider them. In addition to aiding our understanding of the consumer decision process, understanding opportunity cost consideration has important implications for consumers' sensitivities to the structure of the decision environment, understanding the nature of competition and cross-price elasticities, memory for foregone options, and construction of preferences.

Dissertation

碩士
國立臺北教育大學
社會科教育學系碩士班
95
Abstract The purpose of this study is to explore the consumptive behavior of the elementary school students from the mechanism of the pocket money and the saving behavior. The consequence of this study will be the reference of education on consumption. In order to reach these purposes, fires, the writer takes the related literature as a base to understand the concept, theory foundation and research tools. Second, the writer picks 717 elementary school students purposely from Taipei city and Taoyuan county to do this test. The collected data were analyzed by descriptive statistics, t-test, the Chi-square test, one-way ANOVA. The major findings of this study are as follows: (1) The mechanism of offering pocket money will be divided into quantity, source, style and principle, it will be different depended on gender, grade, and district(urban/rural). (2) The saving behavior of elementary school students will be divided into saving custom, saving acknowledge, saving style and saving purpose. The behavior will be different depended on grade, family social/economical background, family situation and district (urban/rural). (3) The consumptive behavior of elementary school students will be divided into 「intellectual- plan type」「conservative- frugality type」「showy-comparison type」and 「impulsion-arbitrary」.The consumptive behavior will be different depended on gender, grade, family’s social/economical background, family situation, district (urban/rural) also on the principle of offering pocket money. Finally, based on the researched result and conclusion. The researcher supplies the following suggestion to school, family and follow up researcher for reference: (1) To school education (a)To enhance the consumptive education(b)To popularize the parent-child education.(c)To guide the living education. (2) To family education (a) To construct positive living education and train their correct consumption attitude.(b)To understand children’s consumptive concept and behavior and train their rational consumptive behavior.(c)To establish a suitable pocket money mechanism and train their correct pocket money command. (3) To follow-up researcher: include study object/tool/method etc. Keywords : the mechanism of the pocket money; saving behavior; consumptive behavior