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

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.

Citation:

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.