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.

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