International Journal of Business and Economics Volume 23, No. 2 September, 2024

Contact With Dogs and Cats: A New Approach to Influencing Consumer Risk–Return Preferences

Yen-Jo Kiang

Department of Business Administration, CTBC Business School, Taiwan

Silvia Wan-Ju Liang

Department of Business Administration, CTBC Business School, Taiwan

Chou-Cheng Chen

Department of Business Administration, CTBC Business School, Taiwan

Wen-jia Sun

Economics and Management School, Wuhan University, China

Abstract

The present study examined whether, in the context of Chinese culture, dogs and cats influence consumers’ risk–return preferences and how they do so. Participants played a poker game, which enabled them to make choices without interference from real-world factors. The results of Experiment 1 indicated that both long-term and short-term exposure to dogs and cats activated people’s promotion and prevention focus, respectively, thereby increasing or decreasing risk tolerance and gain desire. The results of Experiment 2 indicated that stereotypes surrounding dogs and cats act as a regulatory factor for the change of regulatory focus. These findings can serve as a reference for marketers of financial products.

Keywords：Pet, Regulatory Focus, Risk–Return Preference

JEL Classifications：C12, C42, C91, G11

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