Table 3 FIMIX-PLS disaggregate results,...

Table 3

FIMIX-PLS disaggregate results, three segments

	Global model		Segment 1		Segment 2		Segment 3		t [mgp S1 and S2]	t [mgp S1 and S3]	t [mgp S2 and S3]
Relative segment size (%)	100		10.3		45.3		44.4
N	583		60		264		259
Adj. R² for ISI	0.19		0.24		0.20		0.33
Panel A. Path coefficients	Mean	(SD)
Susceptibility → ISI	0.02	(0.40)	0.22	(1.56)	−0.05	(0.85)	0.02	(0.27)	1.86	1.21	0.77
Severity → ISI	0.13	(2.92)^*	−0.06	(0.43)	0.09	(1.44)	0.20	(2.89)^**	1.04	1.66	1.22
Self-efficacy → ISI	−0.09	(1.84)	−0.54	(3.24)^**	0.07	(1.11)	−0.15	(1.96)^*	3.90^**	2.26^*	2.20^*
Benefits → ISI	0.24	(5.10)^**	0.25	(1.79)	0.30	(4.83)^**	0.18	(2.58)^*	0.32	0.48	1.26
Barriers → ISI	−0.13	(2.35)^*	−0.31	(1.64)	−0.15	(0.99)	−0.13	(1.24)	0.46	0.77	0.14
Retirement anxiety → ISI	0.16	(3.45)^**	−0.19	(1.11)	0.25	(3.60)^**	0.15	(2.27)^*	2.65^*	2.21^*	1.02
Propensity to plan → ISI	0.06	(1.55)	0.26	(2.07)^*	0.04	(0.57)	0.01	(0.21)	1.56	1.86	0.281
Trust → ISI	0.11	(2.54)^*	0.08	(0.61)	−0.02	(0.30)	0.23	(3.93)^**	0.67	1.07	2.82^*
Panel B. Descriptive statistics per segment
Mean age	45.00		47.55		43.60		46.19
Percentage male	68.00		55.00		61.00		100.00
Percentage married	60.00		60.00		54.00		67.00
Percentage all 3 fin. Knowledge questions answered correctly	58.00		21.00		24.00		100.00
Percentage monthly income ≥ median of 2,800–3,800 Euro	68.00		38.00		46.00		64.00
Percentage college education	53.00		55.00		62.00		77.00
Panel C. REM constructs per segment	Mean (SD)									ANOVA F df (2, 580)
ISI (1–7)	3.83	(1.58)	3.45	(1.97)	3.85	(1.36)	3.88	(1.67)		1.94
Already informed	4.51	(1.66)	4.23	(2.15)	4.27	(1.52)	4.82	(1.62)		8.40^**
Perceived self-efficacy	3.50	(1.42)	3.78	(2.12)	3.13	(1.06)	3.81	(1.42)		17.67^**
Perceived barriers	3.31	(1.23)	3.36	(1.80)	3.65	(0.95)	2.96	(1.17)		23.50^**
Perceived benefits	5.24	(1.00)	4.80	(1.69)	5.26	(0.76)	5.33	(1.00)		7.24^**
Perceived susceptibility	3.64	(1.42)	3.44	(2.00)	3.74	(1.11)	3.58	(1.44)		1.65
Perceived severity	4.58	(1.47)	4.40	(2.25)	4.69	(1.21)	4.52	(1.44)		1.45
Retirement anxiety	3.42	(1.32)	3.49	(1.88)	3.58	(1.21)	3.22)	(1.25		5.13^*
Propensity to plan	4.76	(1.48)	4.53	(1.94)	4.91	(1.31)	4.65	(1.51)		2.83
Trust own pension provider	4.51	(1.42)	4.13	(1.89)	4.77	(1.10)	4.33	(1.53)		8.92^**
Fin. Risk tolerance (1–10)	4.03	(2.26)	3.27	(2.63)	3.59	(1.98)	4.65	(2.28)		19.35^**

	Global model		Segment 1		Segment 2		Segment 3		t [mgp S1 and S2]	t [mgp S1 and S3]	t [mgp S2 and S3]
Relative segment size (%)	100		10.3		45.3		44.4
N	583		60		264		259
Adj. R² for ISI	0.19		0.24		0.20		0.33
Panel A. Path coefficients	Mean	(SD)
Susceptibility → ISI	0.02	(0.40)	0.22	(1.56)	−0.05	(0.85)	0.02	(0.27)	1.86	1.21	0.77
Severity → ISI	0.13	(2.92)^*	−0.06	(0.43)	0.09	(1.44)	0.20	(2.89)^**	1.04	1.66	1.22
Self-efficacy → ISI	−0.09	(1.84)	−0.54	(3.24)^**	0.07	(1.11)	−0.15	(1.96)^*	3.90^**	2.26^*	2.20^*
Benefits → ISI	0.24	(5.10)^**	0.25	(1.79)	0.30	(4.83)^**	0.18	(2.58)^*	0.32	0.48	1.26
Barriers → ISI	−0.13	(2.35)^*	−0.31	(1.64)	−0.15	(0.99)	−0.13	(1.24)	0.46	0.77	0.14
Retirement anxiety → ISI	0.16	(3.45)^**	−0.19	(1.11)	0.25	(3.60)^**	0.15	(2.27)^*	2.65^*	2.21^*	1.02
Propensity to plan → ISI	0.06	(1.55)	0.26	(2.07)^*	0.04	(0.57)	0.01	(0.21)	1.56	1.86	0.281
Trust → ISI	0.11	(2.54)^*	0.08	(0.61)	−0.02	(0.30)	0.23	(3.93)^**	0.67	1.07	2.82^*
Panel B. Descriptive statistics per segment
Mean age	45.00		47.55		43.60		46.19
Percentage male	68.00		55.00		61.00		100.00
Percentage married	60.00		60.00		54.00		67.00
Percentage all 3 fin. Knowledge questions answered correctly	58.00		21.00		24.00		100.00
Percentage monthly income ≥ median of 2,800–3,800 Euro	68.00		38.00		46.00		64.00
Percentage college education	53.00		55.00		62.00		77.00
Panel C. REM constructs per segment	Mean (SD)									ANOVA F df (2, 580)
ISI (1–7)	3.83	(1.58)	3.45	(1.97)	3.85	(1.36)	3.88	(1.67)		1.94
Already informed	4.51	(1.66)	4.23	(2.15)	4.27	(1.52)	4.82	(1.62)		8.40^**
Perceived self-efficacy	3.50	(1.42)	3.78	(2.12)	3.13	(1.06)	3.81	(1.42)		17.67^**
Perceived barriers	3.31	(1.23)	3.36	(1.80)	3.65	(0.95)	2.96	(1.17)		23.50^**
Perceived benefits	5.24	(1.00)	4.80	(1.69)	5.26	(0.76)	5.33	(1.00)		7.24^**
Perceived susceptibility	3.64	(1.42)	3.44	(2.00)	3.74	(1.11)	3.58	(1.44)		1.65
Perceived severity	4.58	(1.47)	4.40	(2.25)	4.69	(1.21)	4.52	(1.44)		1.45
Retirement anxiety	3.42	(1.32)	3.49	(1.88)	3.58	(1.21)	3.22)	(1.25		5.13^*
Propensity to plan	4.76	(1.48)	4.53	(1.94)	4.91	(1.31)	4.65	(1.51)		2.83
Trust own pension provider	4.51	(1.42)	4.13	(1.89)	4.77	(1.10)	4.33	(1.53)		8.92^**
Fin. Risk tolerance (1–10)	4.03	(2.26)	3.27	(2.63)	3.59	(1.98)	4.65	(2.28)		19.35^**

Note(s): This table presents the results of a finite mixture model. Path coefficients (standard errors in parentheses) refer to three different segments in Panel A; descriptive statistics for the segments are in Panel B. Panel C gives an overview on how the REM constructs differ by segment (ANOVA column = results of the analysis of variance, as a mean comparison across segments). ISI = information search intentions; t[mgp] = t-value for multi-group comparison test. *p < 0.05, **p < 0.001 (two-tailed test)

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