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Impact of demographic and economic variables on financial policy purchase timing decisions

Thomas, L.C. and Thomas, S. and Tang, L. and Gwilym, O.A. (2005) Impact of demographic and economic variables on financial policy purchase timing decisions. Journal of the Operational Research Society, 56 (9). pp. 1051-1062. ISSN 0160-5682

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Abstract

This paper investigates the extent to which consumers' demographic factors influence their financial policy purchasing behaviours and also explores how the external economic environment affects consumers' propensities to purchase financial products. The Cox proportional hazard model is used to explore these issues. The results suggest that consumer decisions on the timing of financial product purchases are largely explained by changes in the economic environment in terms of stock market, the housing market, average earnings, consumer confidence, and interest rates. The influence of customer demographic factors is also important but secondary.

Item type: Article
ID code: 3633
Keywords: profit scoring, Cox proportional hazard model, competing risks, event analysis, purchase propensity, Finance
Subjects: Social Sciences > Finance
Department: Strathclyde Business School > Accounting and Finance
Related URLs:
    Depositing user: Strathprints Administrator
    Date Deposited: 05 Jul 2007
    Last modified: 12 Mar 2012 10:39
    URI: http://strathprints.strath.ac.uk/id/eprint/3633

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