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@article{11343, author = {Šindelář, Jiří and Budinský, Petr}, article_location = {Prague}, article_number = {3}, doi = {http://dx.doi.org/10.18267/j.pep.862}, keywords = {financial regulation; consumer behaviour; consumer protection; behavioural finance; capital market}, language = {eng}, issn = {1210-0455}, journal = {Prague Economic Papers}, note = {9/9/2024 doplněn AN WoS i EiD Scopus}, title = {Hidden Consequences of Consumer Protection on the Financial Market: Regulation-introduced Bias}, url = {https://pep.vse.cz/pdfs/pep/2024/03/05.pdf}, volume = {33}, year = {2024} }
TY - JOUR ID - 11343 AU - Šindelář, Jiří - Budinský, Petr PY - 2024 TI - Hidden Consequences of Consumer Protection on the Financial Market: Regulation-introduced Bias JF - Prague Economic Papers VL - 33 IS - 3 SP - 217-318 EP - 217-318 PB - Prague University of Economics and Business SN - 12100455 N1 - 9/9/2024 doplněn AN WoS i EiD Scopus KW - financial regulation KW - consumer behaviour KW - consumer protection KW - behavioural finance KW - capital market UR - https://pep.vse.cz/pdfs/pep/2024/03/05.pdf N2 - This paper deals with the problem of how the risk perception among retail customers is affected by the consumer protection regulation on the financial market. Through a questionnaire survey, we have measured the effect ofselected consumer protection measures on banking or investment decisions taken by a young (student) population. These measures included the most common elements of financial regulation, such as bank deposit insurance, corporate bond prospectus, licenced fund management and securities broker indemnity insurance. Our results show that protective state intervention represents strong stimuli for customer decision-making with a widely misleading effect. It overshadows other factors, including individual qualification, risk-reward preference and demographic attributes, all of which were found to be insignificant. Since the surveyed measures reached a similar level of effect yet they offer different substance, this outcome has important policymaking implications. ER -
ŠINDELÁŘ, Jiří a Petr BUDINSKÝ. Hidden Consequences of Consumer Protection on the Financial Market: Regulation-introduced Bias. \textit{Prague Economic Papers}. Prague: Prague University of Economics and Business, 2024, roč.~33, č.~3, s.~217-318, 42 s. ISSN~1210-0455. Dostupné z: https://dx.doi.org/10.18267/j.pep.862.
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