Regulatory focus and investment adviser’s recommending behavior

Soo Yeong Ewe, Christina Lee

Research output: Contribution to conferenceAbstract


This study aims to examine the effect of regulatory-focused visual cue on investment adviser’s recommending behavior. Using two experiments with 368 participants, the study demonstrates that after viewing a promotion-focused image and message, investment advisers tend to recommend investment plan with higher return potential. In contrast, investment advisers tend to recommend a more stable and safer investment plan after viewing a prevention-focused image and message. Furthermore, when the visual cue is presented together with task incentive, regulatory fit plays a crucial role in influencing investment advisers’ behavior. The effect of the regulatory-focused visual cue maintains (reduces) when there is a regulatory fit (non-fit) between the visual cue and task incentive message. The findings provide better understanding on how
regulatory-focused visual cue may influence investment advisers’ behavior even though they are supposed to behave professionally when advising their clients.
Original languageEnglish
Number of pages1
Publication statusPublished - 2019
EventEuropean Marketing Academy Conference (EMAC) 2019 - Hamburg, Germany
Duration: 29 May 201931 May 2019
Conference number: 48th


ConferenceEuropean Marketing Academy Conference (EMAC) 2019
Abbreviated titleEMAC 2019
Internet address


  • regulatory focus theory
  • Financial services
  • behavioural decision making

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