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Attention Distribution of Current Key Investor Documents: Standardization as a Long-Term Goal of the PRIIP Regulation
Journal of Consumer Policy ( IF 1.4 ) Pub Date : 2021-01-25 , DOI: 10.1007/s10603-020-09473-x
P. Münchhalfen , R. Gaschler

The regulation of financial products is generally increasing in response to misconduct or crises that have led to losses for (retail) investors. Under the guise of various directives and laws, international and national regulators have introduced rules and standards to restore investor confidence. We tested the success of these efforts by analysing the distribution of attention in current product information sheets in an eye-tracking experiment. The results suggest that regulation has been successful as attention profiles of the different sections of product information are highly similar for different products. This suggests first success of regulation with respect to the standardization of product information sheets. However, this increased comparability does not necessarily lead to an improvement in the investment decisions of private investors, as a further aim of regulation, the increase in comprehensibility cannot be confirmed by this investigation.



中文翻译:

当前主要投资者文件的关注分布:标准化是PRIIP法规的长期目标

为了应对导致(零售)投资者蒙受损失的不当行为或危机,对金融产品的监管通常在提高。在各种指令和法律的幌子下,国际和国家监管机构出台了规则和标准以恢复投资者的信心。我们通过在眼动追踪实验中分析当前产品信息表中的注意力分布来测试这些努力是否成功。结果表明,监管已经成功,因为不同产品的产品信息不同部分的注意力状况非常相似。这表明在产品信息表标准化方面,该法规取得了首次成功。但是,可比性的提高并不一定会改善私人投资者的投资决策,

更新日期:2021-03-14
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