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Liczba wyników
2019 | 12 | nr 2 | 301--318
Tytuł artykułu

Financial Households' Efficacy, Risk Preference and Saving Behaviour: Lessons from Lower-Income Households in Malaysia

Warianty tytułu
Języki publikacji
EN
Abstrakty
EN
Many government policies contain recommendations how to improve financial literacy, particularly through programmes of financial education and personal finance. However, personal financial management is not solely related to knowledge and financial literacy; individual confidence level in own financial abilities and household differences need to be considered in this regard. This paper investigates household financial efficacy through application of psychometric instruments, financial literacy, risk preference and demographic characteristics towards saving decision behaviour. The sample covers 404 households in Peninsular Malaysia and utilises the logistic and probit empirical model. The results show that household's financial efficacy is essential for household's saving decision behaviour and choice of saving instrument. Financial literacy, race, education and dependence ratio and location (rural or urban) of the household also play a role in saving instruments selection. More specifically, households with higher levels of financial efficacy are more likely to use bank-based or other lower risk saving instruments as compared to non-banking-based instruments. (original abstract)
Rocznik
Tom
12
Numer
Strony
301--318
Opis fizyczny
Twórcy
  • Universiti Malaysia Terengganu
  • Universiti Malaysia Terengganu, Malaysia
  • Universiti Malaysia Terengganu, Malaysia
  • Universiti Malaysia Terengganu, Malaysia
autor
  • Universiti Malaysia Terengganu, Malaysia
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Typ dokumentu
Bibliografia
Identyfikatory
Identyfikator YADDA
bwmeta1.element.ekon-element-000171558568

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