The Influence of Perceived Risk and Financial Literacy on the Purchase Intention of Internet Financial Products among Urban Residents in Jilin Province, China
DOI:
https://doi.org/10.53797/cjmbe.v3i2.2.2024Keywords:
Perceived risk, financial literacy, internet financial products, purchase intention, urban residentsAbstract
The rapid development of the internet, in combination with the financial industry’s continuous innovation, has injected strong momentum into the transformation of traditional financial practices. Internet financial products have expanded investment options and made asset allocation more accessible to ordinary investors by lowering entry barriers and increasing operational efficiency. However, the integration of internet platforms with financial services also introduces additional risks, such as information asymmetry, which amplifies potential investment uncertainties. These risks place greater demands on investors' financial literacy. Urban residents, as a key group of internet financial product consumers, are influenced by both their financial decision-making abilities and their risk management awareness. This study explores the impact of perceived risk and financial literacy on the purchase intention of internet financial products among urban residents. Using quantitative methods, the findings reveal that both perceived risk and financial literacy have significant direct effects on purchase intention. This research provides valuable insights into promoting healthy participation in internet finance markets and offers theoretical and practical recommendations for improving financial literacy and managing risks.
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Copyright (c) 2024 Jia Zhibin, Ghosh Abhijit, Liu Meiqian
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