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

Listed author(s):
  • L C Thomas

    ()

    (University of Southampton)

  • S Thomas

    ()

    (University of Southampton)

  • L Tang

    ()

    (University of Southampton)

  • O Ap Gwilym

    (University of Wales)

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.

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File URL: http://link.springer.com/10.1057/palgrave.jors.2601981
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Article provided by Palgrave Macmillan & The OR Society in its journal Journal of the Operational Research Society.

Volume (Year): 56 (2005)
Issue (Month): 9 (September)
Pages: 1051-1062

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Handle: RePEc:pal:jorsoc:v:56:y:2005:i:9:d:10.1057_palgrave.jors.2601981
DOI: 10.1057/palgrave.jors.2601981
Contact details of provider: Web page: http://www.palgrave-journals.com/

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Order Information: Web: http://www.springer.com/business+%26+management/operations+research/journal/41274

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  1. Narendranathan, Wiji & Stewart, Mark B, 1991. "Simple Methods for Testing for the Proportionality of Cause-Specific Hazards in Competing Risk Models," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 53(3), pages 331-340, August.
  2. Edward I. Altman, 1968. "Financial Ratios, Discriminant Analysis And The Prediction Of Corporate Bankruptcy," Journal of Finance, American Finance Association, vol. 23(4), pages 589-609, September.
  3. repec:pal:jorsoc:v:52:y:2001:i:9:d:10.1057_palgrave.jors.2601189 is not listed on IDEAS
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