The Relationship Between Affect And Consumers’ Decision Styles In Financial Consumer: A Moderated Mediating Model

With the rise of Internet consumer finance,the consumer finance market has gradually expanded and refined.Consumers have gradually emerged as financial consumers with advanced consumption,investment and financial management.As a new consumer group,financial consumers have received the attention of the consumer market.Starting from the affect and cognitive factors of financial consumers,this research explores the relationship between affect,need for cognitive,consumers’ decision styles and risk preference based on the dualsystem processing theory of decision-making.The research provides a theoretical basis for the research on financial consumers and the practical application of consumer finance companies.This study explores the relationship between affect,need for cognitive,consumers’ decision styles,and risk preference through a combination of psychometric methods and interview methods.The study 1 uses psychometric methods to adopt the PANAS,Need for Cognition Scale,Consumers’ Decision Style Scale and Balloon Analog Risk Task measured the affect,need for cognitive,consumers’ decision style and risk preference of 302 financial consumers,and SPSS 24 was used for data processing and analysis.Study 2 used the selfcompiled semi-structured interview questionnaire to interview 21 financial consumers through the interview method,and used NVivo 12 for data coding,induction and analysis.This study uses a combination of multiple methods to explore the relationship between financial consumers’ affect,need for cognitive,consumers’ decision style and risk preference preferences.The results of the research are as follows:(1)There are significant differences in gender in the conception of quality,entertainment,conception of popular,and risk return of financial consumers.There are significant differences in the place of origin in the conception of brand,conception of quality,and loyalty.There are significant differences in the single-child situations in the conception of brand and emotional behavior.There are significant differences in monthly income in the positive affect,conception of brand,conception of price,emotional behavior,loyalty,conception of popular.(2)Positive affect and need for cognitive of financial consumers have significant differences in whether they learn financial knowledge.Overloading of information has significant differences in the types of frequently used financial products.Emotional behavior and risk return have significant differences in the types with the most holdings.There are significantly positive correlations between consumer financial product use time and conception of quality,loyalty and risk preference.There are significantly positive correlations between the number of consumer financial products held and conception of quality,conception of price,loyalty,risk return and risk preference.There are significantly positive correlations between consumer financial products to total assets and positive affect,entertainment,conception of price,loyalty and risk preference.(3)There are five consuming groups among financial consumers: economic group,unconcerned group,impulsive group,hedonic group and sophisticated group.(4)There are significantly positive correlations between positive affect and need for cognitive,conception of brand,conception of quality,conception of price,loyalty,overloading of information and conception of popular.There are significantly positive correlations between negative affect and conception of brand,conception of price,overloading of information and loyalty.There are significantly negative correlations between need for cognitive and negative affect,emotional behavior.There are significantly positive correlations between need for cognitive and risk return.(5)Financial consumers’ need for cognition mediates between positive affect and conception of brand,positive affect and conception of price,positive affect and overloading of information.Specific performance: masking effect.(6)Financial consumers’ risk preference plays a moderating role in the process of positive affect influencing conception of brand through need for cognition.When risk aversion,positive affect and need for cognition to be able to better predict conception of brand.