Abstract
| Original language | English |
|---|---|
| Pages (from-to) | 141-147 |
| Number of pages | 7 |
| Journal | International Journal of Economics and Finance |
| Volume | 3 |
| Issue number | 6 |
| DOIs | |
| Publication status | Published - 1 Nov 2011 |
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Keywords
- China
- Consumer Utility
- Emotion
- Financial Crisis
- Mediation
- Saving Culture
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A structural utility mediation model : China during the global financial crisis. / VOON, Jan Cham; VOON, Jan Piaw, Thomas.
In: International Journal of Economics and Finance, Vol. 3, No. 6, 01.11.2011, p. 141-147.Research output: Journal Publications › Journal Article (refereed)
TY - JOUR
T1 - A structural utility mediation model : China during the global financial crisis
AU - VOON, Jan Cham
AU - VOON, Jan Piaw, Thomas
PY - 2011/11/1
Y1 - 2011/11/1
N2 - In this paper, we analyze the effects of the 2008 global financial crisis (GFC) on consumer utility in China. Changes in consumer utility wrought by the GFC were measured by changes in consumption and income. Our empirical analysis using structural equation modeling (SEM) showed that the GFC had affected consumer utility directly and indirectly. The indirect effects were mediated by (a) the emotion or anticipatory feeling evoked by the GFC and (b) the change in saving culture or value of the Chinese. We found that route (a), but not (b), was extremely important in mediating the change in consumer utility. Contrary to conventional wisdom, the indirect effect was found to be stronger than the direct effect, pointing to the importance of the role of anticipatory feeling for assessing consumer utility. The model we obtain has a non-significant p value of 0.345 (df=9; Chi-square=10.063).
AB - In this paper, we analyze the effects of the 2008 global financial crisis (GFC) on consumer utility in China. Changes in consumer utility wrought by the GFC were measured by changes in consumption and income. Our empirical analysis using structural equation modeling (SEM) showed that the GFC had affected consumer utility directly and indirectly. The indirect effects were mediated by (a) the emotion or anticipatory feeling evoked by the GFC and (b) the change in saving culture or value of the Chinese. We found that route (a), but not (b), was extremely important in mediating the change in consumer utility. Contrary to conventional wisdom, the indirect effect was found to be stronger than the direct effect, pointing to the importance of the role of anticipatory feeling for assessing consumer utility. The model we obtain has a non-significant p value of 0.345 (df=9; Chi-square=10.063).
KW - China
KW - Consumer Utility
KW - Emotion
KW - Financial Crisis
KW - Mediation
KW - Saving Culture
UR - http://ccsenet.org/journal/index.php/ijef/article/view/12693/8898
UR - http://commons.ln.edu.hk/sw_master/4168
U2 - 10.5539/ijef.v3n6p141
DO - 10.5539/ijef.v3n6p141
M3 - Journal Article (refereed)
VL - 3
SP - 141
EP - 147
JO - International Journal of Economics and Finance
JF - International Journal of Economics and Finance
SN - 1916-971X
IS - 6
ER -