Advanced SearchSearch Tips
An analysis of determinants of individual`s pension purchase using structural equation model
facebook(new window)  Pirnt(new window) E-mail(new window) Excel Download
 Title & Authors
An analysis of determinants of individual`s pension purchase using structural equation model
Lee, Chanhee; Chun, Heuiju;
  PDF(new window)
This study empirically analyzes casual relationships among psychological and financial factors influencing the subscription of individual pension and identifies mediation effect by the structural equation model. The analysis based on survey data (N
Coping efficacy;financial literacy;individual pension;knowledge;potential longevity;SEM;trust;
 Cited by
Agnew, J. R., Lisa R. A., Jeffrey R. G. and Lisa R. S. (2008). Who chooses annuities? An experimental investigation of the role of gender, framing and defaults. American Economic Review, 98, 418-222. crossref(new window)

Baek, E. Y. (2012). An analysis of individual annuity purchasing intension. Korean Social Security Studies, 28, 64-83.

Behrendt, C. (2002). Private pensions- a viable alternative? Their distributive effects in a comparative perspective. International Social Security Review, 53, 3-26.

Bettman, J. R. and Park, C. W. (1980). Effects of prior knowledge and experience and phase of the choice process on consumer decision processes: A protocol analysis. Journal of Consumer Research, 7, 234-248. crossref(new window)

Brown, J. R. (2001). Private pensions, mortality risk, and the decision to annuitilize. Journal of Public Economics, 82, 29-62. crossref(new window)

Brucks, M. (1985). The effects of product class knowledge on information search behavior. Journal of Consumer Research, 12, 1-16. crossref(new window)

Campbell, J., Jackson, E., Madrain, B. and Tufano, P. (2011). Consumer financial protection. Journal of Economic Perspectives, 25, 94.

Finkelstein, A. and Poterba, J. (2004). Adverse selection in insurance markets: Policyholder evidence from the U.K. annuity market. Journal of Political Economy, 112, 206.

Fischhoff, B., Slovic, P., Lichtenstein, S., Read, S. and Combs, B. (1978). How safe is safe enough. Policy Science, 9, 127-152. crossref(new window)

Grable, J. E. and Lytton, Ruth H. (2001). Assessing The concurrent validity of the SCF risk tolerance question. Financial Counselling and Planning, 12, 43-52.

Hershey, D. A. and Mowen, J. C. (2000). Psychological determinants of financial preparedness for retirement. The Gerontologist, 40, 687-697. crossref(new window)

Hong, S. (2000). The criteria for selecting appropriate fit indices in structural equation modeling and their rationales. Korean Journal of Clinical Psychology, 19, 161-177.

Hsee C. K. and Kunreuther, H. C. (2000). The affection effect in insurance decisions. Journal of Risk and Uncertainty, 20, 141-159. crossref(new window)

Inkamann, J., Lopes, P. and Michaellides, A. (2011). How deep is the annuity market participation puzzle? The Review of Financial Studies, 24, 279-319. crossref(new window)

Jeon, S. H. and Lim, B. I. (2008). The effects of the national pension wealth on household behaviors to hold the private pension wealth and its policy implications. Insurance Development Studies, 19, 83-117.

Jeon, S. H., Lim, B. I. and Kang, S. H. (2006). An analysis on both determinants of purchasing the private pension and changes in the status of subscribers. Insurance Development Studies, 17, 138-163.

Jeong, W. and Kim, K. (2004). An analysis of the relationships among financial risk components. Korean Home Economics Association, 42, 5-9.

Joo, S. (2011). Factors related to private pension product investment : Including bequest motives. Journal of Consumer Studies, 22, 83-200.

Joo, S. (2012). Framing effect and life annuity decision making. Consumption Culture Study, 15, 82-94.

Jung, H. and Oh, T. H. (2005). An empirical study on the trust and determination factors of trust in the insurance industry. Korean Insurance Journal, 71, 49-73.

Kim, D., Lee, B. and Ryu, K. (2011). An analysis on adverse selection in annuity markets. Korean Insurance Journal, 90, 7-22.

Koo, J. and Cha, K. (2015). Comparison of annuity holdings and annuity types according to household characteristics. Consumer Policy and Education Review, 11, 97-120.

Lee, C. (2014). An empirical analysis of cognitive and social factors in purchasing financial means for retirement preparation, Ph. D. Thesis, Sungkyunkwan University, Seoul.

Lee, C. and Jung, H. (2013). An analysis of determinants of purchase and preference of the individual pension: Focusing on cognitive and emotional factors, financial literacy, trust and risk tolerance. Journal of Money & Finance, 27, 25-51.

Lee, H. and Lee, Y. (2011). A cognitive-social model for risk perception of terrorism. Korean Journal of Psychological and Social Issues, 17, 455-503.

Lee, S. and Jeong, J. (2007). A study on measure to enhance the reliability of insurance industry. Insurance Development Studies, 18, 3-35.

Lee, Y. A. and Lee. N. K. (2005). Psychological dimensions of risk perception. Korean Journal of Cognitive Science, 16, 200.

Lee, Y. H. and Lim, B. I. (2013). Studies on the role and development of private pension as the supplement scheme of national pension, National Pension Research Institute, Policy Report, Seoul.

Lim, S., Lee, S. and Hur, Y. (2008). An empirical study on purchase intention with different purchase frequency for online automobile insurance: A trust-based decision-making model approach. The Journal of Risk Management, 19, 123-160. crossref(new window)

Min, D. K. (2014). The influence of parents' child abuse, school violence and friends attachment on mental health in childhood. Journal of the Korean Data & Information Science Society, 25, 293-304. crossref(new window)

Moon, S. and Kim, Y. (1997). The ownership and an assessment of the individual retirement account. Family and Environment Research, 35, 265-277.

Morris Jon D., Woo, C., Geason, J. A. and Kim, J. (2002). The power of affect: Predicting intention. Journal of Advertising Research, May.June, 8-17.

Nam, S. (2013). A longitudinal analysis of appropriate expenses needed in the old age and personal pension payments : Application of autoregressive cross-lagged modeling. Journal of Consumer Studies, 24, 51-70.

Nam, S. and Cho, M. K. (2005). Measures to enhance the social reliability of life insurance industry. Monthly Life Insurance, 314, 16-36.

Nam, S. and Cho, Y. (2008). An empirical study on the policyholder's trust for the non-life insurance company. Korean Insurance Journal, 79, 195-220.

Park, C. W. and Lessing, V. P. (1981). Familiarity and its impact on consumer decision biases and heuristic. Journal of Consumer Research, 8, 223-230. crossref(new window)

Park, T. Y. (2010). A study on the effects of reliability of saving bank on transaction intention, Ph. D. Thesis, Hoseo University, Seoul.

Paton, D., Smith, L. and Johnson, D. (2005). When good intention turns bad; Promoting natural hazard preparedness. Australian Journal of Emergency Management, 20, 25-30.

Schurr, P. H. and Ozanne, J. L. (1985). Influences on exchange processes: Buyers' preconceptions of a seller's trustworthiness and bargaining toughness. Journal of Consumer Research, 11, 939-953. crossref(new window)

Slovic, P. (1987). Perception of Risk. Science, 236, 280-285. crossref(new window)

Song, Y. A. (2009). Determinants of purchase of the private annuities and vitalization plan, Korea Insurance Research Institute KIRI Weekly, Seoul.

Vitt, L., Anderson, A. C., Kent, J., Lyter, D, M., Siegenthaler, J, K. and Ward, J. (2000). Personal finance and the rush to competence: Financial literacy education in the U.S., Institute for Socio-Financial Studies, Virginia.

Yoo, J. and Park C. (2015). The effects of the parent's socioeconomic status and the private education expenditure to the academic achievement. Journal of the Korean Data & Information Science Society, 26, 123-139. crossref(new window)

Yuh, Y. and Lee, N. (2012). Demand and adequacy of private pension. Journal of Insurance and Finance, 23, 68-83.