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Misselling consumer awareness study – Circumstances surrounding the occurence of misselling Cover

Misselling consumer awareness study – Circumstances surrounding the occurence of misselling

International Journal of Management and Economics
Volume 57 (2021): Issue 2 (June 2021)
By: Czesław Bartłomiej Martysz and  Jan Piotr Rakowski  
Open Access
|May 2021

Figures & Tables

Figure 1

Knowledge test – do you know?Source: Author own elaboration based on survey results.
Knowledge test – do you know?Source: Author own elaboration based on survey results.

Figure 2

Did you have any experience with unfair practices (misselling)?Source: Author own elaboration based on survey results.
Did you have any experience with unfair practices (misselling)?Source: Author own elaboration based on survey results.

Figure 3

Main Likert scale survey.Source: Author own elaboration based on survey results.
Main Likert scale survey.Source: Author own elaboration based on survey results.

Figure 4

What type of the institutional system do you support?Source: Author own elaboration based on survey results.
What type of the institutional system do you support?Source: Author own elaboration based on survey results.

Figure 5

Evaluation of the confidence in financial institutions (1–7).Source: Author own elaboration based on survey results.
Evaluation of the confidence in financial institutions (1–7).Source: Author own elaboration based on survey results.

Figure 6

Safety evaluation of a financial product (1–7).Source: Author own elaboration based on survey results.
Safety evaluation of a financial product (1–7).Source: Author own elaboration based on survey results.

Figure 7

Popularity of a given product/financial instrument.Source: Author own elaboration based on survey results.
Popularity of a given product/financial instrument.Source: Author own elaboration based on survey results.

Figure 8

Knowledge and understanding of financial products.Source: Author own elaboration based on survey results.
Knowledge and understanding of financial products.Source: Author own elaboration based on survey results.

Figure 9

What is my knowledge of the laws and state institutions that protect consumers from misselling?Source: Author own elaboration based on survey results.
What is my knowledge of the laws and state institutions that protect consumers from misselling?Source: Author own elaboration based on survey results.

Figure 10

Am I used to sign contracts without reading them carefully?Source: Author own elaboration based on survey results.
Am I used to sign contracts without reading them carefully?Source: Author own elaboration based on survey results.

Figure 11

Knowledge of state financial education initiatives.Source: Author own elaboration based on survey results.
Knowledge of state financial education initiatives.Source: Author own elaboration based on survey results.

Figure 12

Sources of knowledge and information on financial products.Source: Author own elaboration based on survey results.
Sources of knowledge and information on financial products.Source: Author own elaboration based on survey results.

Figure 13

You are a consumer and you have been swindled when signing a financial service contract. Where will you turn for help in the first place?Source: Author own elaboration based on survey results.
You are a consumer and you have been swindled when signing a financial service contract. Where will you turn for help in the first place?Source: Author own elaboration based on survey results.

Circumstances relevant to the creation of misselling

Type of investorType of financial serviceMethod of saleResponsibility
Individual vs. Professional Client profile (depending on: investor's age, risk attitude, type of activity, creditworthiness, investment horizon)Financial instrument/financial serviceBundlingThe risk associated with the productSales channels (remote, branch sales)Intermediaries Construction of the contractThe sales process and how to inform the customerSalesman remuneration schemeFinancial institution vs. employee vs. clientNature of liability (intentional, unintentional)
DOI: https://doi.org/10.2478/ijme-2021-0007 | Journal eISSN: 2543-5361 | Journal ISSN: 2299-9701
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Language: English
Page range: 121 - 137
Submitted on: Aug 9, 2020
Accepted on: Mar 20, 2021
Published on: May 30, 2021
Published by: Warsaw School of Economics
In partnership with: Paradigm Publishing Services
Publication frequency: 4 issues per year
Keywords:
consumer rights awareness,
financial services,
misselling,
Poland,
survey
Related subjects:
Business and economics,
Political economics,
Economic theory, systems and structures,
Business management,
Management accounting, financial controlling, cost calculation, investment

© 2021 Czesław Bartłomiej Martysz, Jan Piotr Rakowski, published by Warsaw School of Economics
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

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