The effects of perceived and actual financial knowledge on regular personal savings: Case of Vietnam
The paper examines the factors, which affect decision-making on regular personal saving behaviour in the context of an emerging market in Vietnam. Focusing on financial literacy, the paper uses a combined measure of actual financial knowledge and a self-assessment of overall financial knowledge. The...
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| Format: | Article |
| Language: | English |
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Centre of Sociological Research, Szczecin
2017-06-01
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| Series: | Journal of International Studies |
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| Online Access: | http://www.jois.eu/?347,en_the-effects-of-perceived-and-actual-financial-knowledge-on-regular-personal-savings-case-of-vietnam |
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| author | Thi Anh Nhu Nguyen Zoltán Rózsa Jaroslav Belás Ľudmila Belásová |
| author_facet | Thi Anh Nhu Nguyen Zoltán Rózsa Jaroslav Belás Ľudmila Belásová |
| author_sort | Thi Anh Nhu Nguyen |
| collection | DOAJ |
| description | The paper examines the factors, which affect decision-making on regular personal saving behaviour in the context of an emerging market in Vietnam. Focusing on financial literacy, the paper uses a combined measure of actual financial knowledge and a self-assessment of overall financial knowledge. The sample of the study consists of 240 commercial banks customers selected in 12 branches of four banks in Ho Chi Minh City. The questionnaire covers: (1) actual financial knowledge; (2) self-rating of financial knowledge; (3) financial risk tolerance; and (4) demographic characteristics of the respondents. The results of a logistic regression analysis show that perceived and actual financial literacy have separate effects on regular personal saving. Particularly, actual financial knowledge has a statistically significant positive relationship with regular personal saving with odds ratio higher than 6.5 times. However, perceived financial knowledge and financial risk tolerance factor are not statistically significant with regular personal saving. Finally, this paper offers evidence that the interaction variable, which is used to combine education level with their major study, has a statistically significant relationship with regular personal saving. |
| format | Article |
| id | doaj-art-2f99d0803d724fec933061aaa86b9939 |
| institution | OA Journals |
| issn | 2071-8330 2306-3483 |
| language | English |
| publishDate | 2017-06-01 |
| publisher | Centre of Sociological Research, Szczecin |
| record_format | Article |
| series | Journal of International Studies |
| spelling | doaj-art-2f99d0803d724fec933061aaa86b99392025-08-20T02:01:47ZengCentre of Sociological Research, SzczecinJournal of International Studies2071-83302306-34832017-06-0110210.14254/2071-8330.2017/10-2/19The effects of perceived and actual financial knowledge on regular personal savings: Case of VietnamThi Anh Nhu Nguyen0Zoltán Rózsa1Jaroslav Belás2Ľudmila Belásová3Tomas Bata University in ZlinTomas Bata University in ZlinTomas Bata University in ZlinUniversity of PresovThe paper examines the factors, which affect decision-making on regular personal saving behaviour in the context of an emerging market in Vietnam. Focusing on financial literacy, the paper uses a combined measure of actual financial knowledge and a self-assessment of overall financial knowledge. The sample of the study consists of 240 commercial banks customers selected in 12 branches of four banks in Ho Chi Minh City. The questionnaire covers: (1) actual financial knowledge; (2) self-rating of financial knowledge; (3) financial risk tolerance; and (4) demographic characteristics of the respondents. The results of a logistic regression analysis show that perceived and actual financial literacy have separate effects on regular personal saving. Particularly, actual financial knowledge has a statistically significant positive relationship with regular personal saving with odds ratio higher than 6.5 times. However, perceived financial knowledge and financial risk tolerance factor are not statistically significant with regular personal saving. Finally, this paper offers evidence that the interaction variable, which is used to combine education level with their major study, has a statistically significant relationship with regular personal saving.http://www.jois.eu/?347,en_the-effects-of-perceived-and-actual-financial-knowledge-on-regular-personal-savings-case-of-vietnamfinancial literacyactual financial knowledgeperceived financial knowledgesaving behaviour |
| spellingShingle | Thi Anh Nhu Nguyen Zoltán Rózsa Jaroslav Belás Ľudmila Belásová The effects of perceived and actual financial knowledge on regular personal savings: Case of Vietnam Journal of International Studies financial literacy actual financial knowledge perceived financial knowledge saving behaviour |
| title | The effects of perceived and actual financial knowledge on regular personal savings: Case of Vietnam |
| title_full | The effects of perceived and actual financial knowledge on regular personal savings: Case of Vietnam |
| title_fullStr | The effects of perceived and actual financial knowledge on regular personal savings: Case of Vietnam |
| title_full_unstemmed | The effects of perceived and actual financial knowledge on regular personal savings: Case of Vietnam |
| title_short | The effects of perceived and actual financial knowledge on regular personal savings: Case of Vietnam |
| title_sort | effects of perceived and actual financial knowledge on regular personal savings case of vietnam |
| topic | financial literacy actual financial knowledge perceived financial knowledge saving behaviour |
| url | http://www.jois.eu/?347,en_the-effects-of-perceived-and-actual-financial-knowledge-on-regular-personal-savings-case-of-vietnam |
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