Journal of Financial Services Marketing

, Volume 18, Issue 2, pp 121–136

Choices of savings options related to trust in banks’ competence, benevolence and stability

  • Anders Carlander
  • Daniel Peterson
  • Amelie Gamble
  • Tommy Gärling
  • Lars-Olof Johansson
  • Martin Holmen
Original Article

DOI: 10.1057/fsm.2013.9

Cite this article as:
Carlander, A., Peterson, D., Gamble, A. et al. J Financ Serv Mark (2013) 18: 121. doi:10.1057/fsm.2013.9

Abstract

The study investigates whether beliefs in professional investor skill in conjunction with trust in banks and other fund managers explain choices of options for long-term savings. From questionnaire data obtained for a population-based sample (n=178) and a sample of undergraduates (n=186), two index measures were constructed, one of beliefs in the skill of professional investors and another of trust in fund managers. The trust index was aggregated for the three interrelated components: competence, benevolence and stability. Regression analyses of the likelihood of savings in an actively managed fund showed an expected effect of investor-skill beliefs that was mediated by trust in the fund manager. In addition, self-reported knowledge played a larger role than trust for choices of passively managed index funds and in particular for own investment in stocks.

Keywords

savings skill belief trust bank 

Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Ltd 2013

Authors and Affiliations

  • Anders Carlander
    • 1
  • Daniel Peterson
    • 1
  • Amelie Gamble
    • 1
  • Tommy Gärling
    • 1
  • Lars-Olof Johansson
    • 1
  • Martin Holmen
    • 1
  1. 1.Department of PsychologyGothenburg UniversityGöteborgSweden

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