Scale
| Construct | Items | Source |
|---|---|---|
| IH | 2 | Bishnoi (2014), Mittal and Vyas (2009), Ramaswami et al. (1992) |
| Q1. My investment decisions are influenced by an increase in income | ||
| Q2. Change in my income shifted my investment choices from financial assets (shares, bonds, mutual funds, LIC, etc.) to other forms of assets (real estate, gold, etc.) | ||
| B/SH | 13 | Ahmed et al. (2016), Durmaz (2014), Durmaz and Durmaz (2014), Srinivasan et al. (2014) |
| Q1. Increase in income has led to more spending (extravagance) | ||
| Q2. Rise in income has encouraged me toward more online shopping | ||
| Q3. With the increase in my income, I have started buying more green/ eco-friendly products (LED, solar power, wool footwear and coffee cups, etc.) | ||
| Q4. Increase in income has made me more brand-conscious | ||
| Q5. With an increase in income, I shifted toward premium brands | ||
| Q6. As my income increased, I shifted toward higher quality, high priced products in following cases: | ||
| (a) With the rising income, I aspire to own a luxury car | ||
| (b) With the rising income, I aspire to own a latest model TV in comparison to old versions | ||
| (c) With more income in my pocket, I prefer to own fully automatic washing machine | ||
| (d) With a better spending power, I prefer to own a dishwasher | ||
| Q7. Rising income affects spending in various categories differently: | ||
| (a) Expenditure has increased on high-frequency items (such as food and beverages, personal-care products, entertainment, telecom products, etc.) | ||
| (b) Expenditure has increased on medium-frequency items (apparel, home furnishings, etc. | ||
| (c) Expenditure has increased on low-frequency items (such as consumer durables, car and appliances) | ||
| Q8. As my income increases, I like to go on a big spending spree more often | ||
| LS | 8 | Isozaki et al. (2017) |
| Q1. As my income increases, I follow the latest trends and fashion | ||
| Q2. With an increase in income, I prefer to travel in my own car rather than public transport | ||
| Q3. With more money in my pocket, I can hire full time domestic help | ||
| Q4. With an increase in income, I prefer to spend more on comfort than on asset creation | ||
| Q5. Increased income encouraged me to own a house | ||
| Q6. With a rise in income, I aspire for international vacations | ||
| Q7. As my income increases, immediate gratification (pleasure, ego satisfaction) is becoming more important than asset creation | ||
| Q8. With more purchasing power, I prefer buying imported products rather than products made in India |
| Construct | Items | Source |
|---|---|---|
| 2 | ||
| Q1. My investment decisions are influenced by an increase in income | ||
| Q2. Change in my income shifted my investment choices from financial assets (shares, bonds, mutual funds, LIC, etc.) to other forms of assets (real estate, gold, etc.) | ||
| 13 | ||
| Q1. Increase in income has led to more spending (extravagance) | ||
| Q2. Rise in income has encouraged me toward more online shopping | ||
| Q3. With the increase in my income, I have started buying more green/ eco-friendly products (LED, solar power, wool footwear and coffee cups, etc.) | ||
| Q4. Increase in income has made me more brand-conscious | ||
| Q5. With an increase in income, I shifted toward premium brands | ||
| Q6. As my income increased, I shifted toward higher quality, high priced products in following cases: | ||
| (a) With the rising income, I aspire to own a luxury car | ||
| (b) With the rising income, I aspire to own a latest model TV in comparison to old versions | ||
| (c) With more income in my pocket, I prefer to own fully automatic washing machine | ||
| (d) With a better spending power, I prefer to own a dishwasher | ||
| Q7. Rising income affects spending in various categories differently: | ||
| (a) Expenditure has increased on high-frequency items (such as food and beverages, personal-care products, entertainment, telecom products, etc.) | ||
| (b) Expenditure has increased on medium-frequency items (apparel, home furnishings, etc. | ||
| (c) Expenditure has increased on low-frequency items (such as consumer durables, car and appliances) | ||
| Q8. As my income increases, I like to go on a big spending spree more often | ||
| 8 | ||
| Q1. As my income increases, I follow the latest trends and fashion | ||
| Q2. With an increase in income, I prefer to travel in my own car rather than public transport | ||
| Q3. With more money in my pocket, I can hire full time domestic help | ||
| Q4. With an increase in income, I prefer to spend more on comfort than on asset creation | ||
| Q5. Increased income encouraged me to own a house | ||
| Q6. With a rise in income, I aspire for international vacations | ||
| Q7. As my income increases, immediate gratification (pleasure, ego satisfaction) is becoming more important than asset creation | ||
| Q8. With more purchasing power, I prefer buying imported products rather than products made in India |
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