Abstract
Few reports have indicated that majority of Malaysians do not save enough for retirement and Malays are less likely to save money as compared to other races in Malaysia. A lot of attention has been given to the link between financial literacy and saving thus neglecting other factors that are closely related to individuals. According to Bandura’s (1977) theory, financial behaviour is closely related to personal factors such as individual characteristic, cognitive ability, self-efficacy, and religious faith. Therefore, this study aims to examine all the factors predicting private saving. Using 224 Malay respondents, logistic regression analysis was conducted. This study found that parents and religious faith significantly predicted the likelihood of private saving, but individual characteristic, cognitive ability, and self-efficacy did not significantly predict the likelihood of private saving. Thus, this study recommends using parents and religious officers to guide the Malay communities in their private saving.
| Original language | English |
|---|---|
| Pages (from-to) | 1-17 |
| Number of pages | 17 |
| Journal | Asian Academy of Management Journal |
| Volume | 24 |
| DOIs | |
| Publication status | Published - 1 Jan 2019 |
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Keywords
- Cognitive ability
- Financial behaviour
- Private saving
- Religious faith
- Self-efficacy
ASJC Scopus subject areas
- Business, Management and Accounting(all)
Cite this
Predicting private saving within malay community. / Goi, Mei Teh; Palil, Mohd Rizal; Mohd Zain, Nor Hazila; Mamat, Nor Hasikin.
In: Asian Academy of Management Journal, Vol. 24, 01.01.2019, p. 1-17.Research output: Contribution to journal › Article
}
TY - JOUR
T1 - Predicting private saving within malay community
AU - Goi, Mei Teh
AU - Palil, Mohd Rizal
AU - Mohd Zain, Nor Hazila
AU - Mamat, Nor Hasikin
PY - 2019/1/1
Y1 - 2019/1/1
N2 - Few reports have indicated that majority of Malaysians do not save enough for retirement and Malays are less likely to save money as compared to other races in Malaysia. A lot of attention has been given to the link between financial literacy and saving thus neglecting other factors that are closely related to individuals. According to Bandura’s (1977) theory, financial behaviour is closely related to personal factors such as individual characteristic, cognitive ability, self-efficacy, and religious faith. Therefore, this study aims to examine all the factors predicting private saving. Using 224 Malay respondents, logistic regression analysis was conducted. This study found that parents and religious faith significantly predicted the likelihood of private saving, but individual characteristic, cognitive ability, and self-efficacy did not significantly predict the likelihood of private saving. Thus, this study recommends using parents and religious officers to guide the Malay communities in their private saving.
AB - Few reports have indicated that majority of Malaysians do not save enough for retirement and Malays are less likely to save money as compared to other races in Malaysia. A lot of attention has been given to the link between financial literacy and saving thus neglecting other factors that are closely related to individuals. According to Bandura’s (1977) theory, financial behaviour is closely related to personal factors such as individual characteristic, cognitive ability, self-efficacy, and religious faith. Therefore, this study aims to examine all the factors predicting private saving. Using 224 Malay respondents, logistic regression analysis was conducted. This study found that parents and religious faith significantly predicted the likelihood of private saving, but individual characteristic, cognitive ability, and self-efficacy did not significantly predict the likelihood of private saving. Thus, this study recommends using parents and religious officers to guide the Malay communities in their private saving.
KW - Cognitive ability
KW - Financial behaviour
KW - Private saving
KW - Religious faith
KW - Self-efficacy
UR - http://www.scopus.com/inward/record.url?scp=85065169487&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85065169487&partnerID=8YFLogxK
U2 - 10.21315/aamj2019.24.s1.1
DO - 10.21315/aamj2019.24.s1.1
M3 - Article
VL - 24
SP - 1
EP - 17
JO - Asian Academy of Management Journal
JF - Asian Academy of Management Journal
SN - 1394-2603
ER -