近年來台灣金融市場逐漸趨於成熟，而消費金融產業亦快速蓬勃的發展，其中適合大眾投資的金融商品－基金成長更是快速，近十年來呈現倍數跳躍成長。在這股成長熱潮中，消費者經由多方管道接觸並投資基金，其中基金廣告更是在投資者投資決策中扮演著一個提供訊息的重要來源。
過去研究中發現，基金廣告中存在著有可能誤導投資者投資決策的訊息，例如基金公司常強調基金過去優良的表現來說服投資者此基金未來的獲利能力，這種宣傳手法便是憑藉定錨在過去的優良表現，達到吸引投資者的目的。而基金廣告中也存在著容易激發投資者情感的訊息與內容，基金公司常藉由激發希望的手段來引發投資者的正面情緒，並鼓動他們投資基金。我們認為定錨與引發希望等手法對於投資決策的影響有深入研究的價值。
本研究的主要三個研究目的是：（1）欲了解定錨與希望對於投資者投資前評估基金所造成的影響；（2）欲了解希望與基金表現對於投資者投資後的滿意度與轉換行為的影響；（3）欲了解在不同的希望程度下，基金表現對消費者滿意程度是否不同。
在經由基金廣告實驗後，本研究發現：
1.定錨效果對於投資者預期報酬存有正向影響。
2.希望對於投資者預期報酬同樣存有正向影響，對投資
者風險感知則是具有負向的影響。
3.當投資者心中存有希望時，即使基金表現不佳，他們
的滿意程度與面對基金表現佳的投資者並無明顯差
異。
4.投資者對於投資基金的知識，無法幫助他們不受到定
錨與希望效果的左右

The financial market in Taiwan has become more mature in recent year, including the consumer financial industry. Mutual fund, which is a financial product that design for general investors, has grown even more rapidly. Investors get information and invest in mutual fund in various ways. One of the important sources, fund advertisement, plays an important role in investor’s decision making process.
In previous research, the elements and messages in fund advertisement could have effects to bias investor’s decision making process. For example, fund companies and investment banks show the brilliant past performance of the mutual fund to investors. These kinds of propaganda make investors to judge fund by anchoring on its past performance. Another promotion method is to evoke investor’s emotion. By evoking investor’s hope, fund companies and investment banks can convince investors to invest easily. This study believes these two promotion practices have great influence on investor’s decision making process. Thus we conduct experiment to figure out the influence of anchoring and hope on investor behavior.
The purposes of this study are: (1) To examine how the anchoring and hope affect investors’ expected return and perceived risk. (2) To clarify the influence of fund performance on customer satisfaction and customers switch behavior. (3) To investigate the variation of customer satisfaction, and switch behavior under hope effect.
The main results of this study are as follows:
1.Anchoring effect has a positive influence on
investor’s expected return.
2.Hope has a positive influence on investor’s
expected return, too. And it also has a
negative influence on investor’s perceived
risk toward fund.
3.When investors have hope toward the fund, they
won’t feel dissatisfied if the fund performed
badly.
4.Knowledge toward fund can not prevent
investors from being influenced by anchoring
and hope effect.

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