Trust in Financial Investments: Who Or What Really Counts

Several studies in marketing have shown that trust in a firm or its representatives can positively impact on customers’ behavior, also in the financial sector. Only few studies, however, have taken the institutional environment in which the action takes place into account. Our model of trust in financial decision making comprised three objects of trust (trust in the system, the bank and the financial advisor) and as mediating variable the customer’s trusting expectation that the investment decision was good, worthwhile and low-risk (trusting expectation). The target variable was the customer’s trusting behavioral intention to make an investment at the respective bank (trusting intention). The empirical research reveals that for the specific context, although the institutional environment in which the decision takes place is relevant, that investing is a very personal business: While system trust only marginally influences private investors’ decision making, our research suggests that trusting the person who advises the investor in his or her decision making is most important.


Christopher Ruppel and Sabine Einwiller (2011) ,"Trust in Financial Investments: Who Or What Really Counts", in NA - Advances in Consumer Research Volume 39, eds. Rohini Ahluwalia, Tanya L. Chartrand, and Rebecca K. Ratner, Duluth, MN : Association for Consumer Research, Pages: 899-900.


Christopher Ruppel, Johannes Gutenberg-University Mainz, Germany
Sabine Einwiller, Johannes Gutenberg-University Mainz, Germany


NA - Advances in Consumer Research Volume 39 | 2011

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