Figure 2.
The grouped bar chart compares average marginal effects for S I, stocks, funds, corporate bonds and government bonds across savings, no cash, diversification, goals, wealth, capital, legacy, profits and long term horizon. The vertical axis ranges from negative 0.1 to 0.2. S I has positive effects throughout, peaking near 0.18 for diversification and about 0.13 for goals. Stocks peak near 0.18 for wealth and 0.12 for diversification and capital. Funds have smaller positive effects, reaching about 0.08 for profits and 0.07 for capital. Corporate bonds have negative effects for savings, no cash, capital, profits and long term horizon, reaching about negative 0.07 for no cash. Government bonds are negative for no cash and wealth, at about negative 0.07 and negative 0.05, but positive for capital and legacy at about 0.08. Bar styles indicate p less than 0.01, p less than 0.05, p less than 0.1 and not significant.AMEs of independent variables on the probability of owning each financial product (Model 2 – financial motivations)
Source: Authors’ own work