Martin Mende|Jenny van Doorn
Coproduction of Transformative Services as a Pathway to Improved Consumer Well-Being
Florida State University|University of Groningen
although many consumers turn financial counseling improve financial wellbeing effectiveness counseling services remains nebulous exact mechanisms improve consumer wellbeing require research longitudinal research demonstrates consumers coproduction financial counseling services pivotal increasing credit scores decreasing financial stress drawing selfdetermination theory study also shows financial literacy consumer involvement attachment styles important drivers coproduction involvement plays moderating role higher involvement substitutes lower levels financial literacy mitigates negative effects attachment avoidance coproduction findings help counseling agencies public policy makers improve effectiveness financial counseling financial counselors track customers objective subjective financial literacy involvement attachment styles segment customers finally tailor service provision accordingly leverage coproduction pathway consumers financial wellbeing public policy perspective findings suggest efforts improve consumer financial literacy important supplemented programs designed increase consumer involvement financial counseling combination promises foster coproduction improve consumers financial wellbeing