금융투자 상품의 손실가능성 정보가 투자를 유치하는데 항상 불리한가?: 투자성향과 금융상품 특성의 조절효과를 중심으로

Most financial institutions has actively provided an information about the expected profits of financial products to attract investments However, they were very passive or reluctant in providing an information about the potential losses. Under these situations, this study investigate how an information about potential loss affect investors’ purchase decisions. For this purpose, this study specified message sidedness as antecedent, and attitude toward financial institutions and investment intention as consequences and investment product type and investors’ propensity as the moderating variables. Further we examined the difference in investors’ changing attitude towards financial institutions under loss results. To verify these models, we conducted experimental study. We developed 2(persuasive message type: one-sided or two-sided) × 2(risk tolerance: high or low) × 2(type of of financial investment product: high risk-high return or low risk-low return) between-subject designs. We found three important results. First, the message sidedness did not give any impacts on the loss-aversion investors’ investment intentions. Second, investors’ investment intention remained the same across the message sidedness in case of high risk-high return products. Finally, we found that investors’ attitude toward the financial institutions after observing financial losses changed negatively when only information about an expected profits were provided. These results indicate that potential loss information of financial investment products does not operate to disadvantage in attracting investments depending on product type and investors’ investment propensity. Finally, we discussed the limitations of this study and provided future research direction.