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The Relationship Between Brand Image and Purchase Intention: Evidence from Award Winning Mutual Funds

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  • Ya-Hui Wang
  • Cing-Fen Tsai

Abstract

Mutual funds represent one of the most popular investment instruments. Some institutions offer fund awards to recognize strong performing funds and fund groups that have shown excellent returns relative to their peers. Many fund companies also use awards won in their advertising and marketing material. This brings rise to the question: Do investors think award winning funds have a better brand image? Can awards increase investors’ purchase intention? The purpose of this study is to investigate the relationships and effects of brand image, perceived quality, perceived risk, perceived value, and purchase intention, as well as to examine the effects of demographic variables on these five dimensions. The research findings show significant relationships between brand image, perceived quality, perceived value, and purchase intention. In addition, some demographic variables may lead to significant differences in these five dimensions. Finally, the results from structural equation modeling show that there are positive and direct effects among brand image, perceived quality, perceived value, and purchase intention. Brand image indeed increases investors purchase intentions. The purchase intention is affected mainly by perceived quality, not by perceived risk.

Suggested Citation

  • Ya-Hui Wang & Cing-Fen Tsai, 2014. "The Relationship Between Brand Image and Purchase Intention: Evidence from Award Winning Mutual Funds," The International Journal of Business and Finance Research, The Institute for Business and Finance Research, vol. 8(2), pages 27-40.
    • Handle: RePEc:ibf:ijbfre:v:8:y:2014:i:2:p:27-40
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    References listed on IDEAS

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    Cited by:

    1. Yongbo Sun & Jiayuan Xing, 2022. "The Impact of Social Media Information Sharing on the Green Purchase Intention among Generation Z," Sustainability, MDPI, vol. 14(11), pages 1-22, June.
    2. Luo, Lianfa & Cheng, Zhiming & Ye, Qingqing & Cheng, Yanjun & Smyth, Russell & Yang, Zhiqing & Zhang, Le, 2024. "Nonmonetary awards and innovation: Evidence from winning China's Top Brand Contest," China Economic Review, Elsevier, vol. 86(C).
    3. Ya-Hui Wang, 2017. "Are Investors Willing to Buy Non-award-wining Funds from Awarded Fund Companies?," Journal of Applied Finance & Banking, SCIENPRESS Ltd, vol. 7(1), pages 1-4.
    4. Santi Duwi Putri Nugroho & Mintarti Rahayu & Raditha Dwi Vata Hapsari, 2022. "The impacts of social media influencer’s credibility attributes on gen Z purchase intention with brand image as mediation:Study on consumers of Korea cosmetic product," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(5), pages 18-32, July.
    5. Shehawy, Yasser Moustafa & Ali Khan, Syed Md Faisal, 2024. "Consumer readiness for green consumption: The role of green awareness as a moderator of the relationship between green attitudes and purchase intentions," Journal of Retailing and Consumer Services, Elsevier, vol. 78(C).
    6. Chun-Mei Chen & Hsian-Ming Liu, 2017. "Exploring the Impact of Airlines Service Quality on Customer Loyalty: Evidence from Taiwan," International Journal of Business and Management, Canadian Center of Science and Education, vol. 12(5), pages 1-36, April.
    7. Jordan Gašper & Leskovar Robert & Marič Miha, 2018. "Impact of Fear of Identity Theft and Perceived Risk on Online Purchase Intention," Organizacija, Sciendo, vol. 51(2), pages 146-155, May.
    8. Jimin Shim & Joonho Moon & Myungkeun Song & Won Seok Lee, 2021. "Antecedents of Purchase Intention at Starbucks in the Context of Covid-19 Pandemic," Sustainability, MDPI, vol. 13(4), pages 1-14, February.
    9. Irfan Hameed & Zeeshan Hyder & Muhammad Imran & Kashif Shafiq, 2021. "Greenwash and green purchase behavior: an environmentally sustainable perspective," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 23(9), pages 13113-13134, September.

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    More about this item

    Keywords

    Brand Image; Perceived Quality; Perceived Risk; Perceived Value; Purchase Intention;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • M1 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration
    • M5 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Personnel Economics

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