Money Attitudes and Innovative Consumer Behavior: Hedge Funds in South Africa

Steven Michael Burgess, University of Cape Town
Nick Battersby, University of Cape Town
Leonard Gebhardt, University of Cape Town
Antony Steven, University of Cape Town
ABSTRACT - Reports the results of a study conducted in a stratified probability sample of urban South Africans with a standard of living comparable to the West. Money attitudes are observed to have substantive and theoretically meaningful relations with intentions to engage in search, word-of-mouth, and alternative evaluation for a new and complex investment product, hedge funds. The study controls for exploratory buyer behavior tendencies, dispositional innovativeness, and sociodemographic characteristics in a covariance structure model. The importance of money attitudes is consistent with expectations for a society undergoing transition. Assesses factorial structure of all scales using confirmatory factor analysis approach.
[ to cite ]:
Steven Michael Burgess, Nick Battersby, Leonard Gebhardt, and Antony Steven (2005) ,"Money Attitudes and Innovative Consumer Behavior: Hedge Funds in South Africa", in NA - Advances in Consumer Research Volume 32, eds. Geeta Menon and Akshay R. Rao, Duluth, MN : Association for Consumer Research, Pages: 315-321.