Determinants of Saving Behavior Among Private Sector Employees in Malaysia: An Empirical Investigation

Ismail, Shafinar; Norliza, Azreenabila; Mahphoth, Mohd Halim; Kamis, Rohaiza; Abidin, Mohd Khairil Azizol Zainal; Shaidin, Sumayyah; Ismail, Suzila

doi:10.4108/eai.22-7-2020.2307885

Cited by 4 publications

(3 citation statements)

References 17 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Thailand embraced student loans to provide access for high-poverty students, but there is now a concern about the needs of groups marginalized by the policy [94]. Medical educators in Singapore have concerns about the limitations of career choices for graduating doctors [95]. Scholars in Malaysia have begun to explore why low-income students form the intent to default on loans, a growing problem in the nation [96].…”

Section: Alternative Narratives About Globalization Strategies In Sou...mentioning

confidence: 99%

Higher Education in Post-Neoliberal Times: Building Human Capabilities in the Emergent Period of Uncertainty

John

2023

Education Sciences

View full text Add to dashboard Cite

This paper argues that the neoliberal consensus about education finance has broken down due to growing economic inequality. First, I use a comparative historical analysis of political alliances to examine patterns of world trade and nations’ policies for economic and educational development since World War II. The United States emphasized STEM-collegiate preparation for all students, while most countries continued the dual emphasis on technical-tertiary and higher education. Educational policy in the US and Pacific region also shifted towards a reliance on markets and student loans resulting in worsening economic inequality in access. Nations with dual technical and academic pathways in secondary and postsecondary education systems expand college enrollment rates more rapidly than the US. They also experience class conflict between the working–middle class and the new technological elite. Next, I examine how education policy shifted from national planning aligned with public funding to market-based incentives for institutional development, further exposing gaps in opportunity within nations. Finally, recognizing the variations in systemic causes of inequality, I argue that governments, education agencies, and civic activists can best promote equity by organizing to address barriers to opportunity for groups left behind in the wake of withering neoliberal education policy.

show abstract

Section: Alternative Narratives About Globalization Strategies In Sou...mentioning

confidence: 99%

Higher Education in Post-Neoliberal Times: Building Human Capabilities in the Emergent Period of Uncertainty

John

2023

Education Sciences

View full text Add to dashboard Cite

show abstract

“…Research done for young adults, especially for university students, is limited. Many past studies [19,30,31,33,40] mostly explored factors of personal saving behaviour among Malaysian households and employees between 2011 and 2021. Studies conducted on young adults in saving behaviour are limited and not theory-driven, mainly focusing on their level of financial literacy [8,48].…”

Section: Relationship Between Intention To Save (Its) and Saving Beha...mentioning

confidence: 99%

Factors Affecting University Students’ Saving Behaviour in Malaysia

Looi¹,

Nguyen²,

Muthaiyah³

2022

Advances in Economics, Business and Management Research

View full text Add to dashboard Cite

Financial complexity stems from a lack of financial literacy, excessive spending on unneeded products or impulse purchases, and sustaining an extravagant lifestyle, all of which have led to people resorting to loans to meet their requirements. Today, Malaysian young adults are indeed to be the main group of people who are currently enslaved by debt. Past studies mostly explored factors of personal saving behavior among Malaysian household and employees between 2011 and 2021. Studies conducted for young adults in the area of saving behavior are limited and not theory-driven, mainly focusing their level of financial literacy. To fill in this gap, this research aims to examine the saving behavior among Malaysian young adults. Using the Extended Theory of Planned Behavior (ETPB), this study attempts to investigate whether financial literacy (FL), family influence (FI), peer influence (PI), self-control (SC), and intention to save (ITS) have a substantial influence on university students' saving behavior (SB) in Malaysia. Self-administered questionnaires are used to obtain primary data. 161 university students from both private and public higher learning institutions participated in the study. The study revealed that four independent variables (FL, FI, SC, and ITS) have a positive relationship with dependent variables (ASB). With FL having the biggest influence on ASB among the five. At the same time, PI are found to be insignificantly associated with ASB. This study gives important insights for Malaysian university students in terms of recognizing the relevance of financial literacy, family influence, self-control, and intention to save on saving behavior..

show abstract

“…The effect of financial literacy on behaviour needs to be further explored. There are studies that find financial literacy positively influencing saving behaviour (Ismail et al , 2021; Murendo and Mutsonziwa, 2017; Mahdzan and Tabiani, 2013; Delafrooz and Paim, 2011). There are studies, however, that only find a weak relationship between financial literacy and responsible financial behaviours (García and Vila, 2020; Tang et al , 2015), and specifically for saving behaviour, it appears that financial literacy and awareness of the importance of saving are not enough for individuals to start saving (García and Vila, 2020).…”

Section: Introductionmentioning

confidence: 99%

Identifying salient beliefs underlying intention to save regularly: an elicitation study of Malaysian Gen Y

Lopez

Mahdzan

Rahman

2022

QRFM

View full text Add to dashboard Cite

Purpose Using the integrated behavioural model as a theoretical framework, this study aims to identify salient beliefs underlying intention to save regularly among Gen Ys in Malaysia. Design/methodology/approach Semi-structured interviews were conducted with 13 participants who were selected using purposive and snowball sampling methods. Findings While Gen Ys are not pushed by others to save, they find that older people (parents, parents-in-law, colleagues and relatives) influence them to save. The main facilitator of regular saving behaviour is low financial commitments. Expenses, particularly unexpected expenses, was found to be the main factor impeding the performance of regular saving. Overall, the participants feel that, irrespective of what happens in the future, they want to continue saving regularly. Lastly, self-efficacy might be present for some participants, but not self-control. Some end up withdrawing their savings for spending, emergency, and travel, thus ending up almost depleting their savings. Research limitations/implications Of this study’s 13 interviewees, only one has not managed to save any money. Such an imbalanced sample composition was not deliberate. It appears those who have not saved money were reluctant to be interviewed, as this topic might be uncomfortable for them. This could have led to only those who save being eager to be interviewed. Practical implications Policy makers should find this study useful, as the behaviour of Gen Ys in Malaysia is different from the overall perception of Malaysians’ financial behaviours. Gen Ys have positive attitudes towards saving money, although they do not seem to practice long-term saving. Policymakers could identify, with banks and the Employee Provident Fund, ways to encourage Gen Ys to think long term. Government could play its part by creating and increasing awareness amongst Gen Ys on the long-term consequences of inadequate savings. Originality/value This study contributes to the literature by identifying the salient beliefs underlying regular saving behaviour through the conduct of elicitation interviews. It is an empirically grounded study enhancing the understanding of intention to perform regular saving among Gen Ys in an emerging market.

show abstract

Determinants of Saving Behavior Among Private Sector Employees in Malaysia: An Empirical Investigation

Cited by 4 publications

References 17 publications

Higher Education in Post-Neoliberal Times: Building Human Capabilities in the Emergent Period of Uncertainty

Higher Education in Post-Neoliberal Times: Building Human Capabilities in the Emergent Period of Uncertainty

Factors Affecting University Students’ Saving Behaviour in Malaysia

Identifying salient beliefs underlying intention to save regularly: an elicitation study of Malaysian Gen Y

Contact Info

Product

Resources

About