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The Effects of Summary Information on Consumer Perceptions of Mutual Fund Characteristics
Author(s) -
KOZUP JOHN,
HOWLETT ELIZABETH,
PAGANO MICHAEL
Publication year - 2008
Publication title -
journal of consumer affairs
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.582
H-Index - 62
eISSN - 1745-6606
pISSN - 0022-0078
DOI - 10.1111/j.1745-6606.2007.00093.x
Subject(s) - mutual fund , perception , business , task (project management) , investment (military) , finance , actuarial science , marketing , accounting , economics , psychology , political science , neuroscience , law , management , politics
Choosing how to best invest for retirement is one of the most important decisions a consumer can make. Unfortunately, this can be an especially challenging task given the current financial information disclosure environment. The objective of this research was to explore whether a modified method of supplemental information disclosure impacts investors’ fund evaluations and investment intentions. Results indicate that while investors continue to place too much emphasis on prior performance, the provision of supplemental information, particularly in a graphical format, interacts with performance and investment knowledge to influence perceptions and evaluations of mutual funds.