Economic, Sociological, and Psychological Factors of the Saving Behavior: Turkey Case
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This study identified economic, sociological, and psychological concepts to better understand individual saving behavior among university employees in Ankara. Participants of this study consisted of employees at Hacettepe University. The survey included 171 employees (29.1% women and 70.9% men). Results showed that some economic and psychological factors were statistically significant related to whether a person had only a savings account or both saving and investing accounts compared to having no saving or investment accounts. Financial management behaviors, perceived subjective norms and the length of a person’s planning horizon were significantly related to the likelihood of having a savings account. Owning a home, financial management behaviors, and greater impulsivity were significantly related to the likelihood of having both saving and investment accounts.
KeywordsSaving Investment Financial management behavior
JEL ClassificationA12 A14 D14 E21
This study was not funded.
Compliance with Ethical Standards
Conflict of interest
Authors declares that they have no conflict of interest.
All procedures performed in studies involving human participants were in accordance with the ethical standards of the institutional and/or national research committee and with the 1964 Helsinki declaration and its later amendments or comparable ethical standards.
Informed consent was obtained from all individual participants included in the study.
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