投資需要專業判斷，然而，實務上卻發現民眾會透過口碑主動搜尋來決定買賣。口碑對共同基金投資人的影響力有多大？民眾需要口碑建議是因為發生了資訊不對稱（information asymmetry）的關係嗎？基金管理公司可由此發展出有利的行銷策略嗎？
本研究採量化分析，以了解共同基金投資人是否發生資訊不對稱，與其資訊不對稱的程度是否會影響其口碑行為。
本研究採方便抽樣，於2008年6月15日至2008年7月15日向資訊及製造業、傳播業、生技及醫事服務業、金融業、公教業、台灣科技大學、輔仁大學、交通大學、台北科技大學在職專班研究所學生等發放問券，並回收有效問卷242份。其中，男性佔41.2%，女性58.8%，主要年齡層為26~45歲，符合相關研究中基金管理公司受益人的性別及年齡層之比例。至於職業的分佈尚屬分散，本研究樣本投資基金的經驗高於一般人口投資基金的比重。
本研究發現，基金投資人的資訊不對稱程度愈高，其口碑散佈行為愈不明顯；中度資訊不對稱程度者對口碑主動搜尋、受口碑影響力的程度，明顯高於輕度資訊不對稱族群，且高度資訊不對稱的投資人，其進行口碑主動搜尋的程度較口碑散佈程度高。此外，基金投資人對基金的涉入程度愈高，其資訊不對稱程度亦愈低；而對基金產品熟悉度低，申購基金的意願亦會降低。

Although investment needs professional judgment, it was actually discovered that most people decided to trade by means of active search of word-of-mouth communication. How great is the influence of word-of-mouth communication on mutual fund investors? Do people need the recommendation of word-of-mouth communication just because of information asymmetry? Can fund management company develop advantageous marketing strategy from this?

This study by adopting quantification analysis is intended to understand whether it exists information asymmetry between mutual fund investors and whether the degree of information asymmetry will impact the behavior of word-of-mouth communication.

This study is to undertake convenience sampling survey through the method of questionnaire executed among information industry, mass communications industry, biotechnology and medical service industry, financial industry, government employees and teachers, part-time master graduates from National Taiwan University of Science and Technology, Fu Jen Catholic University, National Chiao Tung University and National Taipei University of Technology from June 15, 2008 to July 15, 2008. The outcome of the questionnaire was to get effective feedback of 242 participants for age 26-45 covering 41.2% of male participants and 58.8% of female participants that meet the proportion of gender and age of beneficiaries of fund management companies studied. It is dispersed in relation to the distribution of occupation. In sampling objects, those with the experience of fund investment are proportioned higher than general people.

The findings of this study show that higher degree of information asymmetry existing between fund investors will result in unobviousness in disseminating behavior of WOM communication; a higher active search of WOM communication and influence by WOM communication exist in the group with middle-degree information asymmetry than in that with low-degree information asymmetry; investors with high-degree information asymmetry undertook active search of WOM communication higher than dissemination of WOM communication; while fund investors have a higher degree of fund involvement, it will result in a less information asymmetry; low degree of familiarity of fund products will lead to less desire to purchase them.

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