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금융공시정보의 독해용이성이 금융의사결정의 질에 미치는 효과: 금융소비자의 인지적 반응을 중심으로

Financial Information Disclosure Readability and Its Communication Effectiveness

이태준
한국PR학회 (Korean Academic Society For Public Relations)|2015.08|PR연구 (Journal of Public Relations)|제19권 제3호|pp. 131-156|DOI 10.15814/jpr.2015.19.3.131

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참고문헌

키워드

재인recognition금융소비자보호의사결정의 질금융공시정보독해용이성금융지식잠재적 결과에 대한 정교화성향정보처리의 양Financial consumer protectiondisclosure informationfinancial knowledgeelaboration on potential outcomeamount of processing
주제분류신문방송학

초록

본 연구는 금융공시정보의 독해용이성(readability)과 금융지식(financial knowledge) 및 잠재적 결과에 대한정교화성향(elaboration on potential outcome)의 상호작용 효과가 금융소비자의 의사결정의 질(decision quality)에 미치는 효과를 검증하였다. 세부적으로 본 연구에서는 의사결정의 질을 측정하기 위해 금융소비자의 재인(recognition)과 정보처리의 양(amount of processing)을 종속변인으로 설정하였으며, 개인적 특성변인으로 금융지식과 잠재적 결과에 대한 정교화성향을 포함하였다. 연구결과로 금융지식은 금융공시정보의 독해용이성이 재인과 정보처리의 양에 미치는 효과를 조절하지는 못하였으나, 잠재적 결과에 대한 정교화성향은 금융공시정보의 독해용이성과 금융지식의 상호작용 효과를 조절함으로써 재인과 정보처리의양에 효과를 가져 왔다. 특히 흥미로운 점은 금융지식 수준과 상관없이 독해용이성이 높은 금융공시정보가제공되었을 때, 정보처리의 질이 향상되었으며, 잠재적 결과에 대한 정교화성향은 상대적으로 금융지식이부족한 소비자의 정보처리의 질을 보정하는 것으로 나타났다. 종합적으로 본 연구는 금융소비자보호를 위한 정보개선과 시장 투명성 강화 차원에서 금융공시정보의 메시지 특성뿐만 아니라 금융소비자의 심리적 경계조건(boundary condition)을 통합적으로 고려함으로써 금융공시제도의 설득효과를 극대화할 수 있을 것으로 제안한다.

Abstract

Public policies aimed at consumer welfare are typically established to eliminate important market problems. One of the urgencies people feel about efficiency and credibility of the financial marketplace is information asymmetry between financial companies and average consumers and lack of market transparency and efficiency. With this backdrop, this experimental study tested whether and how the readability of financial information disclosure had an effect on the decision quality of financial consumers. In light of information remedy and financial disclosure regulation, financial decision quality for this experiment was operationalized as the recognition and amount of processing of financial disclosure information. The independent variables was the readability of financial disclosure information and the moderators were financial knowledge and elaboration on potential outcome. Results indicated that the readability of financial information disclosure would help average financial consumers more accurately remember and more amount of key claims and information of financial products. In addition, elaboration on potential outcome had an effect on the relationship between financial disclosure information readability and financial knowledge, supporting the notion of individual traits as a boundary condition in explaining and predicting the effectiveness of information intervention and communication strategies for financial consumer protection. No such moderating effect was noted for financial knowledge. This study concluded with a discussion of implications of these findings for designing and implementing public policy initiatives and consumer protection alternatives for better financial welfare.

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