Event Study Analysis of Consumer Behavior: Evidence from Credit Card Spending in Korea Young Hwa Seok Charles H. Dyson School of Applied Economics and Management Cornell University, B38 Warren Hall, Ithaca, NY 14853 e-mail: younghwa.seok@gmail.com Abstract This paper examines how two "shocks" in South Korea affected credit card spending. Today, a credit card is an ac- ceptable financial product that is owned by the majority of households. Today, a credit card is an ac-ceptable financial product that is owned by the majority of households. How a person thinks about other's credit use, which reflects their own attitudes or perception on credit use, affect ed their credit card debt decisions. Purpose - The main purpose of this paper is to understand the attitude of Malaysian credit card holders towards spending and settlement behavior. For example, some researchers try to include the interest rates of credit Therefore, Ho2 are accepted for consumers spending behavior with the credit card incentives such as the design of the card, good reputation, and gift/reward. The same goes to two of the three items identified under banks' policies (benefits given and payment policies) and attitudes toward money (willingness to pay and awareness of the total debt owed). on leveraging customer behavior data for more advanced segmentation.) This research helps to determine the pattern of credit card spending behavior and to identify the factors that influence the credit card spending behavior. The second group of modules was based on respondents recent (past 12 months) behaviour regarding considering credit cards and/ or taking out a new credit card. Prelec and Simester (2001) con- The same goes to two of the three items identified.
And as a means of payment, spending on credit cards forms part of consumer expenditures.1We estimate a structural model of 1This payments aspect of credit cards, which involves the inter-relationship between credit and liquidity, has been 2 Feinberg (1986) presented that the credit cards increase the pace of spending. The multiple regression equations that will be use is: Y=a +B1 X1 +B2 X2 + B3 X3 + B4 X4 +B5 X5 +e Whereby; Y = consumers spending behavior a = constant B = independent e = error The strengths may vary across different types of spending. $973 billion in credit card debt (Nilson Report 2009b). This result supported by Ishaq (2017). the payment mechanism on consumer behavior. Findings - The results indicate that age, income, and marital status have significant correlation with credit card holders' spending behavior.
The total number of credit card transactions in the U.S in 2012 was 26.2 billion, i.e Design/methodology/ approach - Data were collected using a structured questionnaire . Jashim Khan & Margaret Craig-Lees (2014) 8 in their research paper titled "Cashless' transactions: their effect on purchase behaviour" have revealed that that when a credit card- based payment is used, the volume, value and type of products purchased increase. Credit card debts have become a focus of academic and public policy in recent years with the growth of the fraction of households carrying credit card debts and the increase in magnitude of credit card debts (e.g., Erdem 2008; Amin 2012; Shu & Cheng 2012). In 2012, consumers used 1.167 billion credit cards2, i.e. With credit cards in their hands, consumers are willing to pay more (Hafalir and Loewenstein, 2009; Humphrey, 2004 . CERTIFICATE Certified that the work incorporated in the thesis titled "Use of Credit Card and Its Effect on Spending Behaviour of the Employees in Pune City" submitted by Mrs Shilly John for the degree of "Doctor of Philosophy" in Economics under the faculty of Mental, Moral and Social Sciences (Humanities) was carried out under my supervision and guidance. Abstract and Figures. However, some early research in this area presents intriguing ndings. There are two major instruments of credit card debt behavior: likelihood of being a credit card revolver .
Hirschman (1979) and Feinberg (1986) used actual consumer transactions to compare the spending of consumers who paid by credit cards with those who used cash or checks, and found that the former spend more in otherwise identical pur-chasing situations. How a person thinks about other's credit use, which reflects their own attitudes or perception on credit use, affect ed their credit card debt decisions. They were first distributed to ordinary consumers by large retailers and shops In the late 1950s, general- purpose charge cards such as diners club, American Express, and carte blanche . Early research compared cash, cheque and credit card payment modes and concluded that credit card use equates with increased spending. The aver-age outstanding credit card debt for households that have a credit card was $10,679 (Nilson Report 2009b), and the average balance per open credit card was $1,157 in 2008 (Experian 2009). This research study is tested the relationship between consumers spending behavior with the credit card incentives. However, some early research in this area presents intriguing ndings.
Study on Credit Card Usage Behaviour in Mumbai Pacific Business Review International Volume 8, Issue 9, March 2016 71 .
Theory of Planned Behavior, indicating the importance of attitude on the behavior. 1 Introduction A growing segment of the credit card industry is the use of prepaid cards.
Respondents who, in the past 12 months, had neither considered two or more credit cards nor taken out a new card were not
A multinomial logit model was run on a recent portfolio of banking. It also attempts to highlight the effect of Islamic credit cards on the spending behavior of customers in comparison to that of conventional credit cards. DOI: 10.1016/J.JRETCONSER.2021.102472 Corpus ID: 233539379; A replication study of the credit card effect on spending behavior and an extension to mobile payments @article{Liu2021ARS, title={A replication study of the credit card effect on spending behavior and an extension to mobile payments}, author={Yunxin Liu and Siegfried Dewitte}, journal={Journal of Retailing and Consumer Services . Discussion and Conclusion This study showed that there is a significant relationship between consumers spending behavior with credit card incentives. Evaluating the re-lationship between this measure and college student credit card behavior, they found that students' scores regarding money attitudes of obsession and retention and affective credit attitudes distinguished between the students who did and did not have credit cards (Hayhoe et al., 1999). Whether the Money is important-especially to college students who are members of a generation that has been raised in a credit card society. almost 13 cards per household3. Influence of Cashless Payment Modes on Spending Behaviour . As stated by [11], credit card spending by foreign tourists which increased from RM4.3 billion in 2006 to RM7.9 billion in 2013, an increase of 83% over 7 years. By 1995, credit cards had already surpassed cash as a method of payment (Bar-Gill, 2004). This research helps to determine the pattern of credit card spending behavior and to identify the factors that influence the credit card spending behavior. By revolving debt over the short and long term, credit cards are a way of allocating life-cycle consumption. Perhaps more dire, in the fourth quarter Purpose - The main purpose of this paper is to understand the attitude of Malaysian credit card holders towards spending and settlement behavior. towards money and psychological factor as the variable that may influence the credit card spending behavior among the staff in Universiti Kuala Lumpur (UniKL). Credit cards, also known as charge cards, were first introduced in the 1930s.
Specifically, variables such as demographic factors, banks' policies .
a finding that credit cards promote spending for reasons other than liquidity constraints would pave the way for future research into the psychological reasons of this effect.2moreover, documenting a spending-facilitating effect of credit cards would also contribute to research on mental accounting (thaler 1985) by showing that spending varies as Although payment methods that influence consumer spending behavior such as cash and credit cards had been considerably Hirschman (1979) and Feinberg (1986) used actual con-sumer transactions to compare the spending of consumers who paid by credit cards with those who used cashorchecks, and they found that the former spend more in otherwise The individual-level household numbers are sobering. Surprisingly, we find that credit cards do not increase spending. Credit cards are used for convenience as well as a consumption smoothing strategy (Durkin, 2000). how the payment mode selected impacts on purchase behaviour. There are two major instruments of credit card debt behavior: likelihood of being a credit card revolver . Purpose This paper explores factors affecting spending behavior of credit card holders in Malaysia. GRAPH 1: Credit card spending in India till June 2011. www.pbr.co.in 73 Pacific Business Review International Graph 2: Credit card spending in India till June 2011 uals spending a portion of their stock market gains (Shoesmith 1999). Share of credit card in POS spending 59% 24% 20% 11% 19% Most-used credit card does not earn . Hirschman (1979) and Feinberg (1986) used actual con-sumer transactions to compare the spending of consumers who paid by credit cards with those who used cashorchecks, and they found that the former spend more in otherwise By connect-ing data on how people spend, save, shop . New frontiers in credit card segmentation: Tapping unmet consumer needs 11 However, with the dramatic decline in ac- . This is due to the credit element, or to the cashless element of the transaction. the payment mechanism on consumer behavior. Purpose-The main purpose of this paper is to understand the attitude of Malaysian credit card holders towards spending and settlement behavior. They have grown up with debt and use it freely (Ritzer 1995). Occupation, qualifications to apply for credit . Findings The results indicate that age, income, and marital status have significant correlation with credit card holders' spending behavior. Credit cards1 represent the major economic phenomenon society is facing nowadays. according to this framework, young consumers' propensity to overspend on their credit cards is a function of their attitude toward credit card overspending (attitude), the extent to which important others' (i.e., their relations) behaviors and values are seen as being associated with credit card overspending (descriptive norms), and
studies have shown that credit card usage increases the probability of spending (Prelec & Simester, 2001; Soman, 2001; Soman & Cheema, 2002) and that the spending amount increases as well (Prelec & Simester, 2001; Soman, 2001). During the period between 1970 and 2001, the percentage of households with at least one credit card went from 16% This paper analysed the demographic, socio-economic and banking-specific determinants that influence the choice of credit cards. - This paper explores factors affecting spending behavior of credit card holders in Malaysia. During the period between 1970 and 2001, the percentage of households with at least one credit card went from 16% to 73% (Evans & Schmalensee, 2005). Specifically, variables such as demographic factors, banks' policies, and credit card holders' attitudes toward money are examined., - A crosssectional survey through the use of a structured questionnaire was administered on 150 credit card holders based on the area sampling and convenience .
on the use of credit cards.
It also attempts to highlight the effect of Islamic. Event Study Analysis of Consumer Behavior: Evidence from Credit Card Spending in Korea Young Hwa Seok Charles H. Dyson School of Applied Economics and Management Cornell University, B38 Warren Hall, Ithaca, NY 14853 e-mail: younghwa.seok@gmail.com Abstract This paper examines how two "shocks" in South Korea affected credit card spending. The results indicate that age, income, and marital status have significant correlation with credit card holders' spending behavior. Theory of Planned Behavior, indicating the importance of attitude on the behavior. CERTIFICATE Certified that the work incorporated in the thesis titled "Use of Credit Card and Its Effect on Spending Behaviour of the Employees in Pune City" submitted by Mrs Shilly John for the degree of "Doctor of Philosophy" in Economics under the faculty of Mental, Moral and Social Sciences (Humanities) was carried out under my supervision and guidance. Credit cards are used for convenience as well as a consumption smoothing strategy (Durkin, 2000). GRAPH 1: Credit card spending in India till June 2011. www.pbr.co.in 73 Pacific Business Review International Graph 2: Credit card spending in India till June 2011 It shows that credit card is the popular payment medium for people . behavior related to credit cards and debt. In 2013, fraud losses had remained low at less than 0.03% of the total value of debit and credit card transactions. This is a neglected research area, but not totally ignored. It also attempts to highlight the effect of Islamic credit cards on the spending behavior of customers in comparison to that of conventional credit cards. towards money and psychological factor as the variable that may influence the credit card spending behavior among the staff in Universiti Kuala Lumpur (UniKL). Study on Credit Card Usage Behaviour in Mumbai Pacific Business Review International Volume 8, Issue 9, March 2016 71 . spending behavior. The same goes to two of the three items identified under banks' policies (benefits given and payment policies) and attitudes toward money (willingness to pay and awareness of the total debt owed). Credit cards are a symbol of this age. Prepaid cards are reloadable charge cards that are used and look just like a typically charge card. However, the use of credit cards has a differential impact on spending for revolvers and convenience users: Revolvers spend less.
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