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2025 Annual Conference

April 15–17, 2025

Omni William Penn, Pittsburgh, PA, USA

IMPORTANT NOTICE: The date, time, and room assignment of YOUR presentation is SUBJECT TO CHANGE.

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P213 The influence of information resources and psychological factors on financial bandwagon behavior

Wednesday, April 16, 2025 at 5:15 PM–6:15 PM CDT
Room 5 Posters
Short Description

 This study would like to analyze the various factors influencing financial bandwagon behavior. In this study, we assume that the Bandwagon Effect also appears in financial decision-making, similar to how people follow others when they invest. In other words, this means that financial consumers may follow the others—like professionals, news articles, friends, or family— as the resources for their financial decision-making.
 Specifically, it examines the impact of financial information resources (e.g., apps, news articles, friends) and financial psychological factors (e.g., self-esteem, locus of control, materialism) on financial bandwagon behavior. Additionally, it explores if there is a difference in factors affecting the financial bandwagon effect between the environment (urban and rural). The findings from this study will contribute to classifying financial consumers based on insights from previous research. Furthermore, these results will aid in understanding financial consumer behavior and spark interest in both academic discussions and practical applications within the financial sector.

Type of presentation

Accepted Poster Presentation

Submitter

Hye Jun Park, Purdue University

Authors

Hye Jun Park, Purdue University
Wookjae Heo, Purdue University
Yi Liu, St. John Fisher University
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