Households' Decisions on Savings Accounts After Negative Experiences with Banks During the Financial Crisis
During the 2007—2008 financial crisis, consumers in many countries were suddenly confronted with the fact that their bank needed government support or had even failed. Using a detailed survey among households in the Netherlands, we show how these unexpected negative experiences have changed consumer...
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| Veröffentlicht in: | The Journal of consumer affairs 2012-09, Vol.46 (3), p.436-456 |
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| container_end_page | 456 |
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| container_issue | 3 |
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| container_title | The Journal of consumer affairs |
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| creator | VAN DER CRUIJSEN, CARIN A.B. DE HAAN, JAKOB JANSEN, DAVID-JAN MOSCH, ROBERT H.J. |
| description | During the 2007—2008 financial crisis, consumers in many countries were suddenly confronted with the fact that their bank needed government support or had even failed. Using a detailed survey among households in the Netherlands, we show how these unexpected negative experiences have changed consumers' handling of their savings accounts. Our findings suggest that respondents who were customers of troubled banking institutions were subsequently more likely to spread their savings across accounts at several banks. They were also more likely to move funds across banks. Our results also suggest that the size of the shock is important as the strongest effects are found for respondents who experienced both a bank bailout and a bankruptcy. |
| doi_str_mv | 10.1111/j.1745-6606.2012.01240.x |
| format | Article |
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Using a detailed survey among households in the Netherlands, we show how these unexpected negative experiences have changed consumers' handling of their savings accounts. Our findings suggest that respondents who were customers of troubled banking institutions were subsequently more likely to spread their savings across accounts at several banks. They were also more likely to move funds across banks. 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Our results also suggest that the size of the shock is important as the strongest effects are found for respondents who experienced both a bank bailout and a bankruptcy.</description><subject>Analysis</subject><subject>Bank accounts</subject><subject>Bank failures</subject><subject>Banking</subject><subject>Banking crises</subject><subject>Banking industry</subject><subject>Bankruptcy</subject><subject>Banks</subject><subject>Consumer bankruptcy</subject><subject>Consumers</subject><subject>Economic aspects</subject><subject>Economic conditions</subject><subject>Economic crises</subject><subject>Economic crisis</subject><subject>Finance</subject><subject>Financial bailouts</subject><subject>Financial crises</subject><subject>Households</subject><subject>Netherlands</subject><subject>Personal finance</subject><subject>Retail banking</subject><subject>Saving</subject><subject>Savings accounts</subject><subject>Studies</subject><subject>Surveys</subject><subject>Time deposits</subject><issn>0022-0078</issn><issn>1745-6606</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2012</creationdate><recordtype>article</recordtype><sourceid>N95</sourceid><sourceid>7TQ</sourceid><recordid>eNqNkl1v0zAYhSMEEmXwE5AscQFIJNhO_NEbpK7buqGqvRhoEjeW6zqp29Tu7GTr_j0OnTqKKjRHdqz4OSd-7ZMkAMEMxfZ1mSFWkJRSSDMMEc5iL2C2fZH09gsvkx6EGKcQMv46eRPCEkYKMthLVpeuDXrh6nn4CM60MsE4G4Cz4FreGVsFMFDKtbaJk7LRHkx0JRtzp8H5dqO90VbpAO5NswCn0q4COGt9lIFmocGFsdIqI2sw9NE3vE1elbIO-t3j-yT5eXH-Y3iZjqejq-FgnCqGKEw57-eS9eeaK8kxoxQTySTkCM2RhIRQiVGRw1JyThiZ5WguUTkv1EzNIEaQ5ifJp53vxrvbVodGrE1Quq6l1bFagSiBBHOCi4h--AddutbbuDuBIKM5QyTPn6hK1loYW7rGS9WZikEOKS4QJp1XeoSqtNVe1s7q0sTPB3x2hI_PXK-NOir4fCCITKO3TSXbEMTV9eTZLB-N_7fxR1a5utaVFvFuhtND_stf_KwNxuoQh2CqRRN2vzjA-Q5X3oXgdSk23qylf4hHLLoMi6Xooiq6qIouw-JPhsU2Sr_tpPfxKB6erRPfp8NBN40G73cGy9A4vzfAOSd9ztBT6SbEkvfr0q8EZTkj4mYyEjd0dEr7_JdA-W-vBgk-</recordid><startdate>20120922</startdate><enddate>20120922</enddate><creator>VAN DER CRUIJSEN, CARIN A.B.</creator><creator>DE HAAN, JAKOB</creator><creator>JANSEN, DAVID-JAN</creator><creator>MOSCH, ROBERT H.J.</creator><general>Blackwell Publishing Ltd</general><general>Wiley-Blackwell</general><general>Blackwell Publishers Ltd</general><scope>BSCLL</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>N95</scope><scope>XI7</scope><scope>8GL</scope><scope>ISN</scope><scope>7TQ</scope><scope>DHY</scope><scope>DON</scope></search><sort><creationdate>20120922</creationdate><title>Households' Decisions on Savings Accounts After Negative Experiences with Banks During the Financial Crisis</title><author>VAN DER CRUIJSEN, CARIN A.B. ; 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| fulltext | fulltext |
| identifier | ISSN: 0022-0078 |
| ispartof | The Journal of consumer affairs, 2012-09, Vol.46 (3), p.436-456 |
| issn | 0022-0078 1745-6606 |
| language | eng |
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| source | Wiley Online Library Journals Frontfile Complete; PAIS Index; EBSCOhost Business Source Complete; Jstor Complete Legacy |
| subjects | Analysis Bank accounts Bank failures Banking Banking crises Banking industry Bankruptcy Banks Consumer bankruptcy Consumers Economic aspects Economic conditions Economic crises Economic crisis Finance Financial bailouts Financial crises Households Netherlands Personal finance Retail banking Saving Savings accounts Studies Surveys Time deposits |
| title | Households' Decisions on Savings Accounts After Negative Experiences with Banks During the Financial Crisis |
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