Linkages of Financial Efficacy, Demographics, Risks Preference and Consumption Behavior in Malaysia

• 발행기관: 한국유통과학회
• 저자명: Suhal KUSAIRI Nur Azura SANUSI Suriyani MUHAMAD Madihah SHUKRI Nadia ZAMRI
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 7 No.9, 673~685쪽, 전체 13쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2020.09.30

영문 초록

Financial literacy is one of the sustainable development goals of huge concern of governments. Governments explore solutions addressing policies to improve financial literacy. Nevertheless, financial management has such a broad scope and is not just limited to knowledge. As human nature, individuals are born with different confidence levels that include various financial abilities. This study aims to investigate the household-financial efficacy through the application of psychometric instruments, risk preference, and demographic characteristics toward consumption decision behavior. The research is based on a survey 479 households in the peninsular Malaysia, and utilizes the structural equation model, cluster proportional and systematic random sampling, and two measurements – composite reliability and average variance extracted. Results show that households’ financial efficacy is one of the critical factors that explain the households’ consumption decision behavior. Also, risk preference, gender and area location (rural or urban) of the household determined the consumption decision behavior of the household. The effectiveness of consumption decision is not only determined by financial literacy, but also financial efficacy. The implications of this paper may help to design policies in narrowing the broad gap between the rural and urban level of financial efficacy. The government needs to take appropriate actions to fix it.

목차

1. Introduction

2. Literature Review

3. Methodology

4. Results and Discussion

5. Conclusion

References

키워드

Consumption Behavior Financial Efficacy Demographics Risks Preference