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

L.C. Thomas, S. Thomas, L. Tang, O.A. Gwilym

Research output: Contribution to journalArticle

5 Citations (Scopus)

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.
LanguageEnglish
Pages1051-1062
Number of pages11
JournalJournal of the Operational Research Society
Volume56
Issue number9
DOIs
Publication statusPublished - Sep 2005

Fingerprint

Economics
Purchasing
Hazards
Economic environment
Financial products
Financial policy
Purchase
Economic variables
Demographic factors
Demographic variables
Financial markets
Consumer confidence
Consumer decision
Stock market
Interest rates
Purchasing behavior
Housing market
Cox proportional hazards model
Propensity

Keywords

  • profit scoring
  • Cox proportional hazard model
  • competing risks
  • event analysis
  • purchase propensity

Cite this

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Impact of demographic and economic variables on financial policy purchase timing decisions. / Thomas, L.C.; Thomas, S.; Tang, L.; Gwilym, O.A.

In: Journal of the Operational Research Society, Vol. 56, No. 9, 09.2005, p. 1051-1062.

Research output: Contribution to journalArticle

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