Education, Science, Technology, Innovation and Life
Open Access
Sign In

Factors Influencing the Purchase Intention of Financial Wealth Management Products among Shanghai University Students

Download as PDF

DOI: 10.23977/accaf.2024.050112 | Downloads: 18 | Views: 279

Author(s)

Rujie Bao 1, Yanjun Liu 1, Xin Liao 1

Affiliation(s)

1 Business School, University of Shanghai for Science and Technology, Shanghai, 200082, China

Corresponding Author

Xin Liao

ABSTRACT

With the rapid development of the Internet, financial wealth management products are increasingly entering people’s lives. In the post-pandemic era, the digital transformation of financial institutions has become a trend. This makes the allocation of financial assets for university students more diverse, while also bringing higher financial risks. Focusing on the purchasing behavior of financial wealth management products among Shanghai university students can further help to explore their financial needs and thus stimulate the financial vitality of young people in a targeted manner. Therefore, this article mainly focuses on the purchase intention of financial wealth management products among Shanghai university students and conducts research on the influencing factors. This article first elaborates on the research background and significance, and reviews domestic and foreign literature for a literature review. Second, after defining the concepts of financial wealth management products, perceived risk, perceived usefulness, perceived ease of use, and conformity, relevant basic theories are introduced, and the influencing factors of purchase intention for financial wealth management products are theoretically analyzed from four dimensions. Finally, questionnaires are distributed online to university students studying in Shanghai. A binary logistic model is constructed using 386 valid questionnaire data collected, and the influencing factors of Shanghai university students on their intention to purchase financial wealth management products, including stocks, bonds, funds, and deposits, from four dimensions of perceived risk, perceived usefulness, perceived ease of use, and conformity, are empirically explored. The results indicate that: (1) perceived risk has a negative impact on the intention of Shanghai university students to purchase financial products of stocks and bonds; (2) perceived usefulness has a positive impact on the intention of Shanghai university students to purchase financial products of stocks and bonds; (3) perceived ease of use has a positive impact on the intention of Shanghai university students to purchase financial products of deposits; (4) conformity has a positive impact on the intention of Shanghai university students to purchase financial products of stocks and deposits.

KEYWORDS

Financial Wealth Management Products, Purchase Intention, Influencing Factors, Shanghai University Students, Binary Logistic Model

CITE THIS PAPER

Rujie Bao, Yanjun Liu, Xin Liao, Factors Influencing the Purchase Intention of Financial Wealth Management Products among Shanghai University Students . Accounting, Auditing and Finance (2024) Vol. 5: 82-91. DOI: http://dx.doi.org/10.23977/accaf.2024.050112.

REFERENCES

[1] Huang Xue, Zheng Ting, Li Leyi, Chen Li, Jiang Minzhou. A Study on the Current Situation of Consumption and Financial Management among College Students from the Perspective of Consumer Accounting APPs - Taking the School of Foreign Affairs at Central South Forestry University as an Example. Marketing Circles, 2023, 112(02): 158- 160.
[2] Xu Xiaoyang, Lu Minghui. Research on the purchase behavior of Internet financial wealth management products based on social cognitive theory. Soft Science, 2017, 31(05): 108- 113.
[3] Yang Yilin, Xiong Xueping. What psychological factors affect investors' willingness to purchase Internet financial wealth management products - Survey from Pingdingshan City. Finance and Economy, 2018, 489(05): 29-35.
[4] Yu Zhiguang, Xin Yan. Research on Financial Behavior and Influencing Factors of College Students Based on Logistic Model - Taking Northeast Agricultural University as an Example. Business & Economy, 2022, 403(15): 25-27.
[5] Liu Lan. Research on College Students' Investment and Financing Behavior under the Background of Internet Finance. Chinese & Foreign Entrepreneurs, 2021, 501(19): 231-232.
[6] Tao Ruofei, Zuo Xiaoming. Analysis of the Current Situation and Problems of Investment and Financial Management for College Students. Enterprise Reform and Management, 2016, 276(07): 195- 198.
[7] Kelly L, Amy S. Credit cards and student interest: a finally literacy survery of university students. Research in Higher Education Jounal, 2021, 10(06): 12- 16.
[8] Pamela S D. Financial Literacy Among Israeli University students. International Research, 2022, 54(04): 439-446.
[9] Kalaiarasi H, Stephen A. A Study on Factors Influencing Financial Literacy of Youngsters with special reference to Tamilnadu State of India. Asian Journal of Research in Social Sciences and Humanities, 2019, 6(07): 1189- 1193.
[10] Potrich A C G, Vieira K M, Mendes-Da-Silva W. Development of a financial literacy model for university students. Management Research Review, 2016, 39(03): 356-376.
[11] Davis FD. A technology acceptance model for empirically testing new end-user information systems: Theory and results. Massachusetts Institute of Technology, 1986.
[12] Tan Yousheng. A review of the research progress on the theory of conformity behavior abroad. Productivity Research, 2020, 218(09): 245-251.
[13] Guo Chuyang, Wang Yiding, Lin Chuansong, Wu Bokai, Bo Bin. Research on the Irrational Influencing Factors of College Students' Internet Financing and Countermeasures. China Journal of Commerce, 2022, 859(12): 46-48.

Downloads: 6455
Visits: 57372

All published work is licensed under a Creative Commons Attribution 4.0 International License.

Copyright © 2016 - 2031 Clausius Scientific Press Inc. All Rights Reserved.