재무설계비용 지불의사와 지불금액 결정요인 = A study on Willingness-To-Pay for Financial Planning

다국어 초록 (Multilingual Abstract)

In the increased consumer awareness about financial planning, the growth of household wealth and new financial investment products requires a professional financial planning and counseling service. In this research, consumers’ Willingness To Pay(WTP) analysis with contingent valuation method（CVM) about the financial planning counseling was examined, based on the theory of financial management systems. For this, demographic variables were utilized for the input variable, the expectation level for future income was utilized for the requirement variable, and the financial knowledge, attitude, and counseling goal were inputted on conversion process, so that it has been figured out how the family financial management is changed and revealed as a result of the payment willingness and expense. Also, the efficiency and value of financial counseling are tried to be measure with analysis about factors, which are influential to consumers’ willingness for payment and the amount, through WTP. For this research, 2,193 cases of investors in 2009 ‘Investors Survey’ of the Korea Investors Protection Foundation were also used. The data was used to analyze financial knowledge, attitude, and relations between the counseling goal and WTP, so that the payment and amount gaps for the financial counseling were analyzed and probit analysis and multiple regression analysis by Heckman’s two-step estimation were committed. According to the research result, first, consumers, who do not have enough financial knowledge, have requirements to have the counseling despite the cost and understand the necessity of professional financial counseling. However, groups, which consisted of persons that have insufficient financial knowledge, showed willingness to pay relatively low amount of cost for the counseling. Second, consumers, who prefer long-term investments and leveraged investments, showed willingness to pay high cost for the counseling. Since the long-term investment is uncertain, and the leverage investment and profit pursuing investment include the risk of loss for investment assets, consumers have seemed to require professional counseling for unstable and high-risk investment. Third, the goal of financial counseling for individual consumers seemed to be highly influential to the possibility of expense payment. Among various types of counseling, the later years planning and investments got more willingness for the counseling payment. Unlike the payment willingness, specific amount of payment for the counseling were not influenced by counseling goals, so that there were little gap among payment willingness for charged counseling areas.

참고문헌 (Reference)

1 유승훈, "휴대인터넷 서비스에 대한 지불의사액" 한국산업경제학회 18 (18): 995-1007, 2005

2 "한국FPSB 홈페이지"

3 김정숙, "출판매체의 수용가치 분석 - WTP 분석방법을 중심으로 -" 5 : 1-42, 1999

4 김효정, "체계론에 의한 가계의 재무관리행동과 재정만족도에 관한 연구 - 부산 및 경남지역 주부를대상으로" 18 (18): 53-65, 2000

5 홍은실, "청소년의 재정적 태도와 소비행동 및 재정만족도" 한국가정관리학회 24 (24): 73-92, 2006

6 이창무, "조건부가치측정법을 이용한 U-Eco 주거단지 지불의사금액 추정" 대한국토·도시계획학회 43 (43): 237-248, 2008

7 김종대, "조건부가치측정법(CVM)에 의한 지불의사액(WTP)의 추정" 15 (15): 173-191, 2002

8 황덕순, "재무태도와 재무의사소통이 재무만족도에 미치는 영향력" 39 (39): 121-135, 2001

9 오종윤, "재무설계상담이 가계재무복지에미치는 영향에 관한 연구" 5 (5): 1-32, 2012

10 홍은실, "여대생소비자의 목표중심적 가치가 재정관리행동과 재정만족도에 미치는 영향" 대한가정학회 40 (40): 175-186, 2002

11 엄영숙, "양분선택형 조건부가치측정법 응답자료의 실증적 쟁점분석" 한국환경경제학회 20 (20): 119-153, 2011

12 고성수, "부동산 자산을 활용한 부관리서비스 (Wealth Management) 활성화 방안-복합자산 포트폴리오의 성과를 중심으로-" 2006

13 손상희, "미국의 소비자재무상담 서비스 연구" 한국소비문화학회 7 (7): 101-127, 2004

14 김순미, "도시가계의 재정상태, 재무관리 및 재정적만족의 관계분석; 체계론의 적용가능성 검토" 22 (22): 195-207, 1993

15 조동필, "도시가계의 재무지식 및 재무관리가 객관적 재무건전성과 주관적 재무만족도에 미치는 영향" 한국생활과학회 16 (16): 333-348, 2007

16 임정빈, "도시가계의 재무관리 행동과 재정만족도" 16 (16): 141-153, 1998

17 신효련, "대학생의 부채에 대한 태도와 의복구매행동" 한국소비자정책교육학회 5 (5): 31-47, 2009

18 김영신, "대학생소비자의 신용카드에 대한 태도 및 재무관리행동,신용카드 사용행동의 합리성에 대한 인과분석" 한국가정관리학회 23 (23): 15-26, 2005

19 차경욱, "대학교육비 지불원천에 관한 분석소득, 저축, 학자금대출의 사용여부와 사용액" 한국가정관리학회 24 (24): 251-270, 2006

20 고윤진, "녹색 화장품에 대한 소비자의 지불의사금액(WTP)에 관한 연구" 한국소비자정책교육학회 6 (6): 1-15, 2010

21 이수형, "노인장기요양보험에 대한 지불의사금액 추정" 서울대학교 보건대학원 2003

22 성영애, "금융채무불이행자의 재무상태, 신용에 대한 태도 및 재무관리행동의 분석: 연체미경험자와의 비교" 한국소비자학회 19 (19): 65-82, 2008

23 유진, "금융소비자와 독립투자자문업：영국의 사례와 국내 시장에의 함의" 한국소비자원 40 (40): 91-116, 2011

24 박광수, "개인재무설계" 경문사 2010

25 최현자, "개인재무관리(Personal Finance) 연구에 관한 종합적 고찰 - 2000-2009년 국내학술지에 발표된 논문을 중심으로 -" 한국소비자학회 21 (21): 41-64, 2010

26 백은영, "가족생활주기 관점에서 본 가계의 재정목표, 문제 및 만족도에 관한 연구 : 질적 접근방법의 적용" 한국소비자학회 16 (16): 87-110, 2005

27 Donaldson, C., "Validity of open-ended and payment scale approaches to eliciting willingness to pay" 29 (29): 79-84, 1997

28 Dwyer, D. P., "The seven stages of financial planning: A case study approach to financial planning" a division of Longman financial services institute. Inc 1989

29 Parrotta, J. L., "The Impact of FInancial Attitudes and Knowlede on Financial Management and Satisfaction of Recently Married Individuals" 9 (9): 59-75, 1998

30 O'Neill, B., "Successful Financial Goal Attainment: Perceived Resources And Obstacles" 11 (11): 1-12, 2000

31 Breen, R., "Regression models: Censored, sample-selected or truncated data" Sage Publications, Inc 1996

32 Monroe, K., "Pricing. Making Profitable Decisions, 2nd ed." McGraw-Hill 1990

33 Gitman, "Personal Financial Planning" South-Western 2008

34 Schuchardt J., "Personal Finance: An Interdisciplinary Profession" 18 (18): 61-69, 2007

35 Garman, E. T., "Personal Finance 3rd ed" Houghton Mifflin Company 1991

36 Kapoor, J., "Personal Finance" McGraw-Hill 2008

37 Titus, P., "Net Worth and Financial Satisfaction as a Function of House Money Managers Competences" 17 (17): 309-318, 1989

38 Financial Services Authority, "Measuring Financial Capability: an Exploratory Study" 37 : 2005

39 Mason, J., "Financial Planner or Financial Counselor: The Differences are Significant" 20 (20): 142-147, 1986

40 Deacon, R. E., "Family Resource Management and Applications" Allyn and Bacon, Inc 1988

41 Zeithaml, "Consumer perceptions of price, quality and value: a means-end model and synthesis of evidence" 52 (52): 2-22, 1988

42 Markovich, C. A., "College Senior’s Personal Finance Knowledge and Practices" 89 (89): 61-65, 1997

43 Mugenda, O., "Assessing the Causal Relationship among Communication, Money Management Practices, Satisfaction with Financial Status and Satisfaction with Quality of Life, Life Style" 11 (11): 343-360, 1990

44 Cummings, R., "Are hypothetical referenda incentive compatible?" 105 (105): 609-621, 1997

45 Godwin, D. D., "Antecedents and Consequences of Newlyweds’ Cash Flow Management" 5 : 161-190, 1994

46 Laura, J. D., "An alternative approach for eliciting willingness-to-pay: A randomized Internet trial" 2 (2): 96-106, 2007

47 Jones, A. M., "A double-hurdle model of cigarette consumption" 4 (4): 23-39, 1989