The Value of Financial Planning Advice: Process and Outcome Effects on Consumer Well-being [Time 1 and 2 Survey Summary Results]

While anecdotal evidence indicates financial advice affects consumers’ financial well-being, this research project is motivated by the absence of empirically-grounded research relating to the extent to which, and, importantly, how, financial planning advice contributes to broader client well-being. Accordingly, the aim of this project is to establish how the quality of financial planning advice can be optimised to add value, not only to clients’ financial situation, but also to broader aspects of their well-being. This broader construct of well-being captures a range of process and outcome factors that map to concepts of security, control, choice, mastery, and life satisfaction (Irving, 2012; Gallery, Gallery, Irving & Newton, 2011; Irving, Gallery, and Gallery, 2009). Financial planning is commonly purported to confer not only tangible benefits, but also intangible benefits, such as increased security and peace of mind that are considered as important, if not more important, than material outcomes. Such claims are intuitively appealing; however, little empirical evidence exists for the notion that engaging with a financial planner or adviser promotes peace of mind, feelings of security, and expands choices and possibilities. Nor is there evidence signalling what mechanisms might underpin such client benefits. In addressing this issue, we examine the financial planning advice (including financial product advice) provided to retail clients, and consider the short- and longer-term impacts on clients’ financial satisfaction and broader well-being. To this end, we examine both process (e.g., how financial planning advice is given) and outcome (e.g., financial situation) effects.

Digital copyright and the consumer revolution: Hands off my iPod

This book documents and evaluates the growing consumer revolution against digital copyright law, and makes a unique theoretical contribution to the debate surrounding this issue. With a focus on recent US copyright law, the book charts the consumer rebellion against the Sonny Bono Copyright Term Extension Act 1998 (US) and the Digital Millennium Copyright Act 1998 (US). The author explores the significance of key judicial rulings and considers legal controversies over new technologies, such as the iPod, TiVo, Sony Playstation II, Google Book Search, and peer-to-peer networks. The book also highlights cultural developments, such as the emergence of digital sampling and mash-ups, the construction of the BBC Creative Archive, and the evolution of the Creative Commons. Digital Copyright and the Consumer Revolution will be of prime interest to academics, law students and lawyers interested in the ramifications of copyright law, as well as policymakers given its focus upon recent legislative developments and reform proposals. The book will also appeal to librarians, information managers, creative artists, consumers, technology developers, and other users of copyright material.

Defective co-creation: Developing a typology of consumer dysfunction in professional services

Purpose This study aims to explore the scope of consumers’ defective co-creation behaviour in professional service encounters. One of the founding premises of service-dominant logic (Vargo and Lusch, 2004, 2008) is that consumers co-create the value they derive from service encounters. In practice, however, dysfunctional consumer behaviour can obstruct value co-creation. Extant research has not yet investigated consumers’ defective co-creation behaviour in highly relational services, such as professional services, that are heavily reliant on co-creation. Design/methodology/approach To investigate defective co-creation in professional services, 164 critical incidents were collected from 38 health-care and financial service providers using the critical incident technique within semi-structured, in-depth interviews. Thematic coding was used to identify emergent themes and patterns of consumer behaviour. Findings Thematic coding resulted in a comprehensive typology of consumers’ defective co-creation behaviour that both confirms the prevalence of previously identified dysfunctional behaviours (e.g. verbal abuse and physical aggression) and identifies two new forms of consumer misbehaviour: underparticipation and overparticipation. Further, these behaviours can vary, escalate and co-occur during service encounters. Originality/value Both underparticipation and overparticipation are newly identified forms of defective co-creation that need to be examined within the broader framework of service-dominant logic (SDL).

Info-active and info-passive: The new type of consumer classification

Social media platforms, that foster user generated content, have altered the ways consumers search for product related information. Conducting online searches, reading product reviews, and comparing products ratings, is becoming a more common information seeking pathway. This research demonstrates that info-active consumers are becoming less reliant on information provided by retailers or manufacturers, hence marketing generated online content may have a reduced impact on their purchasing behaviour. The results of this study indicate that beyond traditional methods of segmenting consumers, in the online context, new classifications such as info-active and info-passive would be beneficial in digital marketing. This cross-sectional, mixed-methods study is based on 43 in-depth interviews and an online survey with 500 consumers from 30 countries.

IT pricing: Copyright law, consumer rights, and competition policy. A submission to the House of Representatives Standing Committee on Infrastructure and Communications Inquiry into IT Pricing

For a hundred years, since Federation, Australian consumers have suffered the indignity and the tragedy of price discrimination. From the time of imperial publishing networks, Australia has been suffered from cultural colonialism. In respect of pricing of copyright works, Australian consumers have been gouged; ripped-off; and exploited. Digital technologies have not necessarily brought an end to such price discrimination. Australian consumers have been locked out by technological protection measures; subject to surveillance, privacy intrusions and security breaches; locked into walled gardens by digital rights management systems; and geo-blocked.

Australian Consumer Law Commentary and Materials [5th Ed.]

"The Australian Consumer Law came into operation on 1 January 2011 as a single national law. It replaced 17 different pieces of Commonwealth, State and Territory legislation relating to consumer protection. Its introduction meant that for the first time, consumers throughout Australia had the same rights and remedies and correspondingly, businesses had the same obligations and responsibilities towards consumers without the barrier of confusing and expensive local variations in the law. Australian Consumer Law: Commentary and Materials contains up-to-date material on the Australian Consumer Law, and in particular the fifth edition incorporates: a revised treatment of unconscionability, taking account of the changes to Part 2-2 of the ACL that became effective in 2012; other State and Federal provisions relating to unfair terms and cases such as Kakavas v Crown Melbourne, ACCC v Lux Distributors, Director of Consumer Affairs v Scully and PT Ltd v Spuds Surf; a comprehensive treatment of the impact of Google v ACCC, Forrest v ASIC and ACCC v TPG – the trilogy of decisions that provide the most recent insights into the High Court’s thinking on aspects of the prohibitions of misleading conduct in the ACL and the Corporations Act 2001; numerous decisions of note; and the possible impact of the Harper Review."--publisher website

Who Rules Japan? Popular Participation in the Japanese Legal Process

"The dramatic growth of the Japanese economy in the postwar period, and its meltdown in the 1990s, has attracted sustained interest in the power dynamics underlying the management of Japan’s administrative state. Scholars and commentators have long debated over who wields power in Japan, asking the fundamental question: who really governs Japan? This important volume revisits this question by turning its attention to the regulation and design of the Japanese legal system. With essays covering the new lay-judge system in Japanese criminal trials, labour dispute resolution panels, prison policy, gendered justice, government lawyers, welfare administration and administrative transparency, this comprehensive book explores the players and processes in Japan’s administration of justice."--publisher website

When Japanese law goes pop

Japanese law is going ‘pop’. Since the turn of the century, Japanese popular culture, especially prime-time television, has dedicated more time to legal themes, characters and settings. Lawyers, overwhelmingly women, are the heroes in both dramatic and comedic television series (Nakamura, 2007). Courtroom battles are the scene for plot developments (Ishikawa, 2004). Practising lawyers are the new celebrities, joining actors and singers on the light entertainment talk show circuit. To be sure, law is not a new thematic preoccupation on Japanese network television. Nor is it one that has become so dominant that it overshadows more traditional genres such as workplace romantic comedies, coming-of-age dramas or family soap operas (eg, Dissanayake, 2012, p._194). But, its growing presence on the silver screen in twenty-first-century Japan is a trend that merits analysis. The purpose of this chapter is to explore that socio-legal significance. This presents theoretical and empirical challenges. Theoretically, is there explanatory potential in the link between law and popular culture in Japan? Empirically, does the greater embrace of law-related characters, plots and scenes in prime-time television series since 2001 provide compelling evidence of changing popular attitudes to law and legal process among Japanese viewers? The inspiration for both the title and theme of this chapter comes from Sherwin’s When Law Goes Pop (2000). But it departs from Sherwin in how it defines and analyses the issues. For Sherwin, ‘pop’ means ‘implosion’.

Popular participation in labour law: The new labour dispute resolution tribunal

The Labour Tribunal Law (No. 45 of 2004) ushered in a new court-annexed dispute resolution system for industrial relations disputes in Japan (outlined generally in Sugeno, 2004). Similar to the lay judge system for criminal trials (Johnson and Shinomiya, Chapter 2), the new tribunal adopts an adjudicative model that blends professional and lay expertise with decisions heard by a tripartite panel comprising a professional judge and two lay judges recommended by management and labour unions respectively. The new tribunal system came into operation on 1 April 2006.

When Japanese law goes pop

This article explores the extent to which the growth in law-themed popular culture since the turn of the century, especially television shows, signals a shift in popular attitudes towards law. Four decades of research into Japanese legal consciousness has called into question the extent to which there is a Japanese cultural aversion to Jaw, with most scholars expressing doubt over whether culture properly explains the comparatively low litigation rates in Japan compared to other industrialised nations. This article argues that popular culture, although not without its limitations, offers new clues into how legal consciousness is developing and changing in 21st Century Japan. The article concludes that popular culture paints a picture of a greater readiness by Japanese people to engage with Jaw, although scepticism remains about the law's promise to achieve justice and social solidarity.

Understanding consumer loyalty to technology-based self-services with credence qualities

Purpose This paper aims to use the Model of Goal-Directed Behavior (MGB) to examine the factors affecting consumers’ continued use of emerging technology-based self-services (TBSSs) with credence qualities. Professional services, which traditionally require specialized knowledge and high levels of interpersonal interaction to produce owing to their credence qualities, are increasingly delivered via self-service technologies. Health services delivered via mobile devices, for example, facilitate self-care without direct involvement from health professionals. Design/methodology/approach A mental health service delivered via the Internet and mobile phone, myCompass, was selected as the research context. Twenty interviews were conducted with users of myCompass and the data were thematically analyzed. Findings The findings of the study showcase the unique determinants of consumers’ continued use of TBSSs with credence qualities relative to the more routine services which have been the focus of extant research. The findings further provide support for the utility of the MGB in explaining service continuance, although the importance of distinguishing between extrinsic and intrinsic motivational components of behavioral desire and capturing the impact of social influence beyond subjective norms is also highlighted. Originality/value This study contributes to recent research examining differences in consumer responses across TBSSs and behavioral loyalty to these services. It also provides empirical evidence for broadening and deepening the MGB within this behavioral domain.