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Journal articles on the topic 'Risk and saving'
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Mešťan, Michal, Ivan Králik, Leoš Šafár, and Ján Šebo. "IMPACT OF DIFFERENT LIFE-CYCLE SAVING STRATEGIES AND UNEMPLOYMENT ON INDIVIDUAL SAVINGS IN DEFINED CONTRIBUTION PENSION SCHEME IN SLOVAKIA." E+M Ekonomie a Management 24, no. 3 (2021): 128–48. http://dx.doi.org/10.15240/tul/001/2021-3-008.
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Searching for the optimal saving strategy is often tied with the life-cycle strategies where only the age of a saver is considered for setting the allocation profile between equities and bonds. Our article contributes to the debate by looking at the performance and adequacy risks arising from applying age-based saving strategies for savers in funded pension schemes. As many studies have proven the shift of the risk onto savers in defined contribution pension schemes under various saving strategies, we contribute to the debate by providing simulations of expected accumulated savings via funded pension scheme under the various life-cycle income profiles and existence of unemployment risk. Using the resampling simulation technique, we compare the fixed and age-based strategies of three different agents with various life-cycle income paths and different unemployment risk. We compare the expected amount of savings and calculate relative indicators comparing the expected monthly benefits, income replacement rate. We look closely on the impact of unemployment on the value of savings and calculate the unemployment factor explaining the value of savings lost due to the periods of unemployment. By combining life-cycle income functions of individuals with different education level and unemployment risk, we show that decisions of implementing low risk saving strategies are suboptimal and lead to a substantial decrease in replacement ratios not only for higher income cohorts but especially for the lowest ones. At the same time, we prove that employing low risk saving strategy leads to the increase of adequacy risk especially driven by the unemployment risk that is higher for lower education individuals. We conclude that age-based life-cycle saving strategies, where the remaining saving horizon is the only factor defining the allocation profile is not the optimal saving strategy and other factors should be considered as well when searching for optimal saving strategy.
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Georgescu, Irina, Adolfo Cristóbal-Campoamor, and Ana Lucia-Casademunt. "A possibilistic and probabilistic approach to precautionary saving." Panoeconomicus 64, no. 3 (2017): 273–95. http://dx.doi.org/10.2298/pan130129003g.
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This paper proposes two mixed models to study a consumer?s optimal saving in the presence of two types of risk: income risk and background risk. In the first model, income risk is represented by a fuzzy number and background risk by a random variable. In the second model, income risk is represented by a random variable and background risk by a fuzzy number. For each model, three notions of precautionary savings are defined as indicators of the extra saving induced by income and background risk on the consumer?s optimal choice. In conclusion, we can characterize the conditions that allow for extra saving relative to optimal saving under certainty, even when a certain component of risk is modelled using fuzzy numbers.
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Kerdvimaluang, Narit, Chedthida Kusalasaiyanon, Natpapas Thenchan, and Nitinop Tongwassanasong. "RISK-RELATED FACTOR AND FINANCIAL ATTITUDE ON RETIREMENT SAVING BEHAVIOR." RMUTT GLOBAL BUSINESS ACCOUNTING AND FINANCE REVIEW 7, no. 2 (2023): 1–8. http://dx.doi.org/10.60101/gbafr.2023.268068.
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Purpose – This research aims to analyze the influence of retirement risk-related factors and financial attitudes on saving behavior for retirement. Methodology – The research was organized using 400 Thai employees in various occupations. This research analysis method was occupied by operating on structural equation modeling (SEM) Amos. Results – The finding pointed out that risk-related factors have a positive effect on retirement saving behavior (0.441), and financial attitude has a positive influence on retirement saving behavior (0.750).Implications – Workers should rely on risk-related factors and financial attitude factors to be successful in retirement savings. Also, this research helps people to realize and understand more about the relationship between risk-related factors, financial attitude, and retirement saving behavior. This empirical study makes a contribution in the form of a comprehensive model to explain risk-related factors and financial attitudes toward retirement saving behavior.Originality/Value – This analytical framework reveals the relationship of financial attitudes and risk-related factors on retirement saving behavior. This article helps to investigate the effective factor on the retirement saving behavior for Thai retirement perspective.
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MAGHFOOR, SUBOOR. "A STUDY ON SAVINGS AND INVESTMENT: RISK AND OPPORTUNITIES." INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT 08, no. 04 (2024): 1–5. http://dx.doi.org/10.55041/ijsrem32942.
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This study investigates the intricate relationship between savings, investment, risk, and opportunities in contemporary financial landscapes. With financial markets becoming increasingly complex and interconnected, understanding the dynamics of savings and investment has become paramount for individuals, businesses, and policymakers alike. The first part of the study delves into the concept of savings, examining the various motivations behind saving behavior and the factors influencing individuals' decisions to save. It explores traditional saving instruments such as savings accounts, as well as newer forms such as robo-advisors and digital wallets, highlighting the evolving nature of saving practices in the digital age. Moving on to investment, the study elucidates the diverse array of investment vehicles available to investors, ranging from stocks and bonds to real estate and alternative assets. It analyzes the risk-return tradeoff inherent in different investment options and discusses strategies for constructing well-diversified investment portfolios tailored to investors' risk preferences and financial goals. Finally, the study identifies emerging opportunities in the savings and investment landscape, including technological innovations such as blockchain technology and peer-to- peer lending platforms, which are reshaping traditional financial systems and offering new avenues for wealth accumulation and capital deployment. By synthesizing theoretical insights with empirical evidence, this study provides valuable insights into the complex interplay between savings, investment, risk, and opportunities, offering practical recommendations for individuals
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Dahlbäck, Olof. "Saving and risk taking." Journal of Economic Psychology 12, no. 3 (1991): 479–500. http://dx.doi.org/10.1016/0167-4870(91)90028-r.
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Angerer, Martin, Michael Hanke, Ekaterina Shakina, and Wiebke Szymczak. "The Effect of Different Saving Mechanisms in Pension Saving Behavior: Evidence from a Life-Cycle Experiment." Journal of Risk and Financial Management 18, no. 5 (2025): 240. https://doi.org/10.3390/jrfm18050240.
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We examine how institutional saving mechanisms influence retirement saving decisions under bounded rationality and income risk. Using a life-cycle experiment with habit formation and loss aversion, we test mandatory and voluntary binding savings under deterministic and stochastic income. Voluntary commitment improves saving performance only when income is predictable; under uncertainty, it fails to improve performance. Mandatory savings do not raise total saving, as participants reduce voluntary contributions. These results emphasize the role of income smoothing in enabling behavioral interventions to improve long-term financial outcomes.
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Maghfiroh, Lailatul. "Pengaruh Financial Literacy dan Risk Tolerance Terhadap Keputusan Nasabah Dalam Pemilihan Instrumen Investasi Tabungan Emas di PT Pegadaian (Persero) Cabang Jombang." JFAS : Journal of Finance and Accounting Studies 1, no. 3 (2020): 173–85. http://dx.doi.org/10.33752/jfas.v1i3.178.
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Financial literacy is a series of processes or activities to increase the knowledge of an individual so that they are able to manage personal finances for the better future. While risk tolerance is an ability that can be accepted by investors in taking an investment risk. This research is to know: (1) the influence of financial literacy on the saving of investment of customer of gold saving. (2) the influence of risk tolerance on the investment savings of gold saving customers.The population in this study are customers who are registered as active customers in PT Pegadaian (Persero) Jombang Branch. This research uses causal associative method with multiple regression analysis model. The results of this study indicate that: (1) Financial literacy has a positive influence on investment decision of gold saving customers. (2) Risk tolerance has a positive influence on the investment decision of gold saving customers. This research uses causal associative method with multiple regression analysis model.
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Mazzocco, Maurizio. "Saving, Risk Sharing, and Preferences for Risk." American Economic Review 94, no. 4 (2004): 1169–82. http://dx.doi.org/10.1257/0002828042002516.
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Wilson, Bonnie. "Diversification of risk and saving." Quarterly Review of Economics and Finance 43, no. 4 (2003): 697–712. http://dx.doi.org/10.1016/s1062-9769(03)00041-3.
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Segal, Uzi, Avia Spivak, and Joseph Zeira. "Precautionary saving and risk aversion." Economics Letters 27, no. 3 (1988): 223–27. http://dx.doi.org/10.1016/0165-1765(88)90174-7.
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Gandjour, Afschin. "Determining cost-saving risk thresholds for statin use." PLOS ONE 20, no. 3 (2025): e0318454. https://doi.org/10.1371/journal.pone.0318454.
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Background The German government has recently drafted a bill proposing a reduction in the prescription threshold for statin use. This study aims to determine the cost-saving risk threshold for statin use in Germany to inform this proposed change. Methods An economic evaluation utilizing a decision-analytic model was performed, using secondary data to compare statin use versus no statin use from the perspective of German sickness fund insurees. The analysis focused on cost savings from avoided cardiovascular (CV) events, translating these avoided events into net savings after accounting for treatment costs and potential side effects. The study considered the German adult population insured by sickness funds and used a lifetime horizon for the analysis. Results The maximum number needed to treat (NNT) to achieve cost savings over 10 years was found to be 39, leading to a minimum CV risk threshold for savings of 10.2%. It was estimated that approximately 19% of the adult population in Germany has a 10-year CV risk of ≥ 10.2%, potentially avoiding between 271,739 and 581,363 CV events over 10 years, with net population savings of approximately €15 billion. Conclusions A threshold for statin prescription in Germany set at a 10.2% 10-year CV risk could significantly increase the number of patients benefiting from statin therapy, reducing CV events and generating substantial cost savings. These findings suggest that adjustments to prescription guidelines could improve cardiovascular outcomes and economic efficiency within the German healthcare system.
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Nadlifatin, Reny, Alifio Rahmanqa, Mohammad Razif, and Satria Fadil Persada. "Consumer Insight During Covid-19: Understanding the Influence of Price Saving Benefits, Time Saving Benefits, and Food Safety Risk Perception To Consumer Intention On Online Food Delivery." Jurnal Manajemen Teknologi 22, no. 3 (2023): 218–28. http://dx.doi.org/10.12695/jmt.2023.22.3.1.
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Abstract. Technology has a significant impact on human existence, particularly in the phenomenon of online food delivery services. Every year, this makes online food shopping more appealing to the public. The study's goal is to compare consumers' willingness to use online meal delivery services during the Covid-19 pandemic to the new normal. The research methodology employed in the study was multivariate Structural Equation Modeling (SEM). Price savings benefits, time savings benefits, and food safety risk perceptions are all considered crucial and relevant in influencing customer intentions. The relevant data was acquired from online meal delivery customers by 299 data during the survey stage. A Google form was used to conduct the survey online. The Partial Least Square SEM approach will be utilized for the data analysis calculation stage. The findings of this investigation reveal three established hypothetical links. Data analysis revealed that Food Safety Risk Perception has a negative and significant impact on customer intentions. Customers' intentions are positively influenced by the Price Saving Benefit and the Time Saving Benefit is revealed to be the highest beta value. This study also discusses theoretical and practical contributions. Keywords: Online food delivery, price saving benefits, time saving benefits, food safety risk perceptions, consumer intention
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Hryniewicz, Konrad. "Motivation and Action Control in a Saving Lifestyle." WSB Journal of Business and Finance 53, no. 1 (2019): 144–60. http://dx.doi.org/10.2478/wsbjbf-2019-0014.
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Abstract The article presents three studies about saving money described as a routine behaviour and a way of life. The results underline the role of perceived risk, benefits and self-efficacy as motivational variables affecting savings and the meaning of strategies in action control that facilitate the intention to save and maintenance of saving behaviour. The mechanisms of control tested were action planning and coping with problems, monitoring of saving behaviour, maintenance of self-efficacy and its recovery after setbacks. The first study, using structural equation modelling, presents the meaning of motivational variables in the prediction of intentions and the mediating role of action control functions in explaining the relationship between intention and savings (N=227). The second study in the experimental arrangement confirms the beneficial influence of the same variables on financial decisions in unforeseen savings opportunities (N=460). The final study shows the beneficial results of a cognitive training session, which was focused on inducing motivation and raising the level of action control in the area of saving. These studies explain the motivation to save and maintenance of saving behaviours, which lead to consistent and sustainable saving actions.
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Clark, Christine. "Saving time when preparing intravenous antibiotics." British Journal of Nursing 32, no. 5 (2023): 246–50. http://dx.doi.org/10.12968/bjon.2023.32.5.246.
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Preparation of intravenous antibiotic doses takes up a significant amount of nurse time and exposes nurses to the risk of needlestick injury. The use of the Ecoflac® Connect needle-free connector could streamline preparation, reducing the time taken as well as eliminating needlestick injury risk. Because Ecoflac Connect is a closed system, it also minimises the risk of microbial contamination. This study showed that it took 83 experienced nurses 73.6 (SD 25.0) seconds to prepare an amoxicillin injection using the Ecoflac Connect needle-free connector compared with 110.0 (SD 34.6) seconds using the standard needle and syringe method, saving 36 seconds per dose on average, reducing the time taken by one-third. Based on recent government figures, the saving in nurse time would equate to 200-300 full-time nurses in England, equivalent to £6.15 million-£9.23 million a year. Additional savings would accrue from the prevention of needlestick injuries. Where wards are understaffed, this time saving could be critical, increasing time for care.
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Otticha, Sophie, Jane Moraa, Jacob Onyango, et al. "Eat a little and save a little: A qualitative exploration of acceptability of a potential savings intervention to reduce HIV risk among female sex workers in Western Kenya." PLOS ONE 19, no. 12 (2024): e0310540. https://doi.org/10.1371/journal.pone.0310540.
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Background The burden of HIV among female sex workers (FSWs) remains higher in sub-Saharan Africa (SSA), with an estimated prevalence of 36.9%. In Kenya, HIV prevalence among FSWs is 29.3% compared to 6.6% among adult women in the general population. Economic disempowerment is a significant driver of HIV among FSWs, specifically manifested in engagement in higher-paying, high risk sex. Saving interventions to improve financial security have the potential to reduce HIV risk among FSWs. Methods We conducted 24 focus group discussions (FGD) with each session involving 6–10 respondents. The FGD guide explored saving history and income sources, spending and loan-taking practices as factors associated with saving. Thematic analysis identified themes related to financial burden, loaning, saving and spending, sources of income, HIV risk behaviors in the context of sex work, and acceptability of the proposed saving intervention to reduce HIV risk. Results We conducted 24 FGDs with 221 respondents, of whom 19.9% were married and 85.4% reported being heads of households. We identified the following key themes, that FSWs were: open to participating in a saving intervention being proposed to reduce their HIV risk; financially insecure, thus engaging in sexual practices that increase their HIV risk; living beyond their means leading to further financial insecurity; and desiring an intervention that equips them with knowledge and skills on how to balance earning and spending in order to save and how to take and repay loans without increasing their HIV risk. Conclusion FSWs in western Kenya were receptive to the proposed savings intervention, believing that it would increase their financial stability and reduce the need to engage in risky sex when faced with emergency situations that require immediate cash.
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Deb, Rajat, Prasenjit Deb, Sujit Majumder, Sourav Chakraborty, and Kiran Sankar Chakraborty. "Answering Savings Puzzle About Small Saving Schemes and Mutual Funds: Evidence from Tripura." Metamorphosis: A Journal of Management Research 18, no. 1 (2019): 7–19. http://dx.doi.org/10.1177/0972622518823587.
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The study has motivated to assay the comparatively better saving tool—small saving schemes or mutual funds—based on empirical evidence. The related literature has been extensively reviewed to frame a conceptual model and has adopted survey strategy with stratified random sampling technique for gathering data from 150 respondents. Inferential statistics have supported to reject the null hypotheses and has concluded that selective demographics, risk, returns, tax benefits, inflation beating capability, and liquidity significantly influence in savings. The national saving certificate and fixed deposits have been identified as most preferred saving instruments while mutual funds have also been gaining popularity. Policy implications have been derived from the study.
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Aiyagari, S. R. "Uninsured Idiosyncratic Risk and Aggregate Saving." Quarterly Journal of Economics 109, no. 3 (1994): 659–84. http://dx.doi.org/10.2307/2118417.
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Tzeng, Larry Y., and Jen-Hung Wang. "Increase in risk and saving behavior." Journal of Economics and Business 56, no. 5 (2004): 405–14. http://dx.doi.org/10.1016/j.jeconbus.2004.01.004.
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Wahbi, Annkathrin, Eike Nordmeyer, Tim Ölkers, and Oliver Musshoff. "Savings for resilience: Investigating saving instruments in Mali." PLOS One 20, no. 7 (2025): e0326873. https://doi.org/10.1371/journal.pone.0326873.
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Despite worldwide initiatives to alleviate poverty, 35% of Sub-Saharan Africa’s population continues to live below the poverty line. In light of this, many regard the promotion of saving as a cost-efficient and low-risk strategy for household resilience and pro-poor development. We assess saving determinants for 374 Malian farmers by employing a two-step selection model. As a first step, we assess determinants of whether or not a farmer saves by applying a probit model. In a second step, we estimate an Ordinary Least Squares regression to investigate a farmer’s savings amount. In both steps, we disaggregate the outcome variable on whether respondents save through mobile money, via a bank account, or a secret place. To address endogeneity concerns, we apply an instrumental variable approach using the walking distance to the next mobile money agent as an instrument. We find considerable heterogeneity in saving determinants and identify a particularly strong role of supply-side factors such as infrastructure quality. Furthermore, the results suggest that saving with a secret place is persistently popular, in particular among younger respondents and those who do not have access to a smartphone in their household. This indicates a potential to transfer these hidden savings to formal accounts for interest earnings and potentially safer storage. The findings have implications for improving financial practices and resilience among smallholder farmers in low-income economies, suggesting the transformative potential of secure and accessible saving mechanisms.
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Apps, Patricia, Yuri Andrienko, and Ray Rees. "Risk and Precautionary Saving in Two-Person Households." American Economic Review 104, no. 3 (2014): 1040–46. http://dx.doi.org/10.1257/aer.104.3.1040.
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The existing literature on precautionary saving is based almost entirely on the assumption that the household acts as if it consisted of a single individual decision-taker. In reality saving decisions are typically taken by two-person households. This paper examines the implications of this observation for the existence of precautionary saving, and shows that the assumption that the individual utility functions satisfy the conditions for precautionary saving to exist can imply that the household exhibits precautionary saving, but only under strong assumptions on the type of risk change being considered. (JEL D14, D81)
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Fisher, Patti, Celia Hayhoe, and Jean Lown. "Gender differences in saving behaviors among low- to moderate-income households." Financial Services Review 24, no. 1 (2015): 1–13. http://dx.doi.org/10.61190/fsr.v24i1.3232.
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In this study we explore gender differences in saving behaviors among low- to moderate-income households using data collected online from a national sample of low- to moderate-income households (NC1172) and data on similar income single households from the 2010 Survey of Consumer Finances (SCF). Results show that saving behaviors differ by gender. With the NC1172 sample, we find gender differences in the effects of high-risk tolerance and being non-White on the likelihood of being a saver. In the SCF, the presence of other household members affects savings differently for women and men. Educators and counselors can encourage savings among men and women in low- to moderate- income households as a way to reduce financial risk and ensure financial security.
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Grace, Chuck, Adam Metzler, Yang Miao, Longlong Feng, and Alireza Fazelli. "The Impact of Saving on Financial Resilience." Financial Services Review 32, no. 2 (2024): 1–28. http://dx.doi.org/10.61190/fsr.v32i2.3358.
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In this paper, we examine the issue of saving in the context of financial resilience. We examine unique dataset(s) of investor transactions to determine the relationship between investor behaviours, household savings, and investment outcomes. We examine these real-world observed behaviours through advanced data analytics in the form of machine learning to explore previously unknown patterns and seek a determination of any causal relationships. We examine trading over a 3-year period ending August 2022, providing us with the opportunity to observe behaviour during rising markets, declining markets and the turbulent phases during transitions. Our datasets included investors who work with financial advisors and those who prefer “do it yourself”. Trading behaviours over this period, demonstrated an active savings strategy to be the most effective strategy for building wealth. On average, an active savings strategy was 5X more effective at building wealth and resilience than relying on investment returns or complex trading strategies. We conclude that; Saving is a ‘force of nature’. The math isn’t new, but it works and we observed it working in the ‘real world”. Saving is simpler, more reliable, and more powerful than investment returns for building financial resilience. Frequent and disciplined saving is more effective than periodic or just-in-time saving. Saving is a universal strategy - the observed results were the same regardless of age groups, genders, risk tolerances and income levels. Keeping it simple is a legitimate strategy for building wealth. Saving and saving often - is not only easy to prescribe but effective.
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Sangar, Ms Anuradha, and Dr Pawan Burad. "SAVING HABITS AMONG YOUTH." GENESIS 8, no. 1 (2021): 69–73. https://doi.org/10.47211/tg.2021.v08i01.016.
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In the fight against poverty, financial inclusion of youth should be given top priority. Through indicators of people's savings, borrowings, ability to make payments on time, and risk management, the following data demonstrate financial inclusion among youth. 800 country-level indicators of financial inclusion are provided by the Global Financial Inclusion Database, which are summarized for all adults and broken down by important demographic characteristics like gender, age, education, income, and rural residence. A self-administered survey was used for data collection. The research was carried out in two distinct districts of Punjab—GURDASPUR, and JALANDHAR—at two distinct commerce colleges. The sample for this study consists of young adults between the ages of 18 and 25 who are enrolled in postsecondary education in the commerce fields. A sample of 100 young people from commerce colleges in the cities of Jalandhar and Gurdaspur was chosen. Among the 100 respondents, 96 (96%) hold the belief that money should be saved. the percentage of youth that can save money out of disposable cash in hand reveals that 76% of respondents have ability to save. Majority of the respondents i.e. 51 (51%) were not sure about the age when saving introduced. Bank savings are the most common, efficient, and preferred method of saving, as 54.3% have done so young people's second favorite fun way to save money is in piggy banks. Banks are essential to the mobilization of saving. one of the primary factors youth cite as a significant reason for not saving money is inflation, or the rise in the cost of living. They are compelled to use any pocket money they receive on essential purchases. Peer pressure and a lack of saving are the second and third major reasons for not saving. Media influence and family upbringing received the fewest votes.
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Vlaev, Ivo, Nick Chater, and Neil Stewart. "Relativistic financial decisions: Context effects on retirement saving and investment risk preferences." Judgment and Decision Making 2, no. 5 (2007): 292–311. http://dx.doi.org/10.1017/s1930297500000619.
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AbstractWe report a study of the effects the choice set on financial decision making related to retirement savings and risky investment. The participants were presented with either a full range of choice options or a limited subset of the feasible options. The choices of saving and risk are affected by the position of each option in the range of presented options. This result demonstrated that the range of the options offered as possible saving rates and levels of investment risk influences decisions about saving and risk. The study was conducted on a sample of working people, and we controlled whether the participants can financially afford in their real life the decisions taken in the test. In addition, various measures of risk aversion did not account for the risk taken in each condition. Surprisingly, only the simplest and most direct risk preference measure was a significant predictor of the responses within a particular choice set context, although the actual choices were still very much influenced by the range. Thus, the results reported here suggest that financial judgments and choices are relative, which corroborates, in an important practical domain, previous related work with abstract gambles and hypothetical risky investments.
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Di Tella, Sebastian, and Yuliy Sannikov. "Optimal Asset Management Contracts With Hidden Savings." Econometrica 89, no. 3 (2021): 1099–139. http://dx.doi.org/10.3982/ecta14929.
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We characterize optimal asset management contracts in a classic portfolio‐investment setting. When the agent has access to hidden savings, his incentives to misbehave depend on his precautionary saving motive. The contract dynamically distorts the agent's access to capital to manipulate his precautionary saving motive and reduce incentives for misbehavior. We provide a sufficient condition for the validity of the first‐order approach, which holds in the optimal contract: global incentive compatibility is ensured if the agent's precautionary saving motive weakens after bad outcomes. We extend our results to incorporate market risk, hidden investment, and renegotiation.
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Dr., Vijayakumaran Kathiarayan. "Assessing the Impact of COVID-19: Savings Behavior and Financial Self-Efficacy of private college staff in Malaysia." International Journal of Management and Commerce Innovations 11, no. 1 (2023): 325–28. https://doi.org/10.5281/zenodo.8207969.
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<strong>Abstract:</strong> This study delves into the changing landscape of personal savings behavior among employees in the backdrop of the ongoing COVID-19 pandemic. Focusing specifically on Private college staff, the research investigates key determinants such as financial knowledge, financial self-efficacy, risk perception, and income level, and their impact on saving habits. The investigation reveals the heightened significance of these factors amidst economic uncertainty and highlights the essential role of proactive financial planning and the cultivation of personal values in achieving financial stability. Furthermore, the study emphasizes the potential influence of individual risk perception and income levels on saving behaviors. The findings contribute to an understanding of saving behavior alterations during crises and provide insights to promote better financial planning among employees. <strong>Keywords:</strong> Savings, COVID-19, financial Behavior, Financial Self-Efficacy, financial knowledge, risk perception and Income level. <strong>Title:</strong> Assessing the Impact of COVID-19: Savings Behavior and Financial Self-Efficacy of private college staff in Malaysia <strong>Author:</strong> Dr. Vijayakumaran Kathiarayan <strong>International Journal of Management and Commerce Innovations </strong> <strong>ISSN 2348-7585 (Online)</strong> <strong>Vol. 11, Issue 1, April 2023 - September 2023</strong> <strong>Page No: 325-328</strong> <strong>Research Publish Journals</strong> <strong>Website: www.researchpublish.com</strong> <strong>Published Date: 02-August-2023</strong> <strong>DOI: https://doi.org/10.5281/zenodo.8207969</strong> <strong>Paper Download Link (Source)</strong> <strong>https://www.researchpublish.com/papers/assessing-the-impact-of-covid-19-savings-behavior-and-financial-self-efficacy-of-private-college-staff-in-malaysia</strong>
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Šebo, Ján, Daniela Danková, and Ivan Králik. "In Search of the Optimal Saving Strategy for Pan-European Pension Products." Financial Assets and Investing 11, no. 2 (2020): 54–72. http://dx.doi.org/10.5817/fai2020-2-4.
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The introduction of pan-European pension products in 2020 is associated with an ongoing debate on prescribing predefined saving strategy that would both deliver adequate performance and limit the down-side risk at the end of the saving horizon. Dynamic life-cycle saving strategies are generally accepted as a good risk-mitigation tool that can be individually set. Many research papers confirm the ability of life-cycle strategies to deliver high risk-reward outcomes. Objective of our paper is to test the ability of one-factor life-cycle saving strategies based on the age and/or the remaining saving horizon to deliver the promised value for PEPP savers. We constructed 18 saving strategies divided into three groups – static saving strategies with fixed proportion of equities, dynamic life-cycle strategies based on the age and/or remaining saving horizon, and quasi-active strategies combining two factors – the remaining saving horizon and price movement. We employed the model based on moving-block bootstrapping technique and performed simulations for various economic conditions. We have tested the expected saving performance combined with the down-side risk during the saving horizon. Our findings do not confirm the general findings on life-cycle saving strategies. We claim that having the age as the only factor defining the proportion of equities in the pension saving portfolio would not be optimal. However, we found that two-factor saving strategies look promising in delivering both lower down-side risk and higher performance over the saving horizon.
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Šebo, Ján, Daniela Danková, and Ivan Králik. "In Search of the Optimal Saving Strategy for Pan-European Pension Products." Financial Assets and Investing 11, no. 2 (2020): 54–72. http://dx.doi.org/10.5817/fai2020-2-4.
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The introduction of pan-European pension products in 2020 is associated with an ongoing debate on prescribing predefined saving strategy that would both deliver adequate performance and limit the down-side risk at the end of the saving horizon. Dynamic life-cycle saving strategies are generally accepted as a good risk-mitigation tool that can be individually set. Many research papers confirm the ability of life-cycle strategies to deliver high risk-reward outcomes. Objective of our paper is to test the ability of one-factor life-cycle saving strategies based on the age and/or the remaining saving horizon to deliver the promised value for PEPP savers. We constructed 18 saving strategies divided into three groups – static saving strategies with fixed proportion of equities, dynamic life-cycle strategies based on the age and/or remaining saving horizon, and quasi-active strategies combining two factors – the remaining saving horizon and price movement. We employed the model based on moving-block bootstrapping technique and performed simulations for various economic conditions. We have tested the expected saving performance combined with the down-side risk during the saving horizon. Our findings do not confirm the general findings on life-cycle saving strategies. We claim that having the age as the only factor defining the proportion of equities in the pension saving portfolio would not be optimal. However, we found that two-factor saving strategies look promising in delivering both lower down-side risk and higher performance over the saving horizon.
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Syofyan, Syofriza, and Mahjus Ekananda. "THE DETERMINANTS OF SAVINGS IN INDONESIAN HOUSEHOLDS (USING IFLS DATA)." Media Ekonomi 29, no. 2 (2022): 35–60. http://dx.doi.org/10.25105/me.v29i2.10308.
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The growing concern among researchers and analysts with regard to the decline in savings amounts is not without intention, interest and purpose. As saving is a personal and individual matter, an approach in which people are urged to augment their savings cannot be taken for granted. Yet while everyone has their own unique set of needs, preferences, motives and habits, this research aims to identify the typical factors that determine household saving in Indonesia. The model to test which factors are the most important is saving as a function of income, consumption, demographic status, psychological, institutional, and financial literacy. The respondents were derived from the Indonesian Family Life Survey (IFLS) from periods 2007 and 2014. Using quantile regression, we found income to be the most significant factor for saving in 2007 followed by education attainment, employment status and past saving experience. In 2014, the most influential factors were income, risk preference, employment status, urban/rural location and disincentives for going to the bank. Access to finance may offer the potential to resolve the whole of the financial issue for both sides, the demanders and suppliers of microfinancing, both individually and institutionally
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Lukić, Marija, Tatjana Piljan, and Almir Muhović. "Empirical study of savings through life insurance in the Republic of Serbia." Anali Ekonomskog fakulteta u Subotici, no. 46 (2021): 89–103. http://dx.doi.org/10.5937/aneksub2146089l.
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Life is a natural course, full of uncertainty and temptation of every human being. In order to make our lives more peaceful and have a more peaceful future, we are trying in various ways to secure ourselves and make our lives safer. Savings through insurance is a life-saving type of savings that involves the material protection of an individual against the risk of premature death and loss or loss of ability to earn money. In conditions where the solidarity-based pension system is unsustainable, it is necessary to develop voluntary pension insurance and savings through life insurance, as sources of long-term savings and additional sources of financing. The subject of this research is to answer the question of what people think about saving through life insurance. The main objective of this research is to evaluate the attitude of the residents of the Republic of Serbia towards saving through life insurance. The survey was conducted on the territory of the entire Republic of Serbia, on a suitable sample of 500 respondents. Through this paper, the citizens' attitude towards saving through life insurance in the Republic of Serbia is analyzed in one place. By analyzing the data from the survey, we can conclude that the general hypothesis is confirmed: Residents are not satisfied with the current state of savings through life insurance in the Republic of Serbia.
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Воденніков, С. А., В. К. Тарасов, В. Р. Румянцев, and Т. В. Шкляр. "Risk management for saving people`s life." Humanities Bulletin of Zaporizhzhe State Engineering Academy, no. 67 (December 20, 2016): 267–75. http://dx.doi.org/10.30839/2072-7941.2016.86849.
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Wagener, Andreas. "Saving and Retirement Decisions with Pension Risk." FinanzArchiv 63, no. 1 (2007): 107. http://dx.doi.org/10.1628/001522107x186746.
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Fagereng, Andreas, Luigi Guiso, and Luigi Pistaferri. "Firm-Related Risk and Precautionary Saving Response." American Economic Review 107, no. 5 (2017): 393–97. http://dx.doi.org/10.1257/aer.p20171093.
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We propose a new approach to identify the strength of the precautionary motive and the extent of self-insurance in response to earnings risk based on Euler equation estimates. To address endogeneity problems, we use Norwegian administrative data and instrument consumption and earnings volatility with the variance of firm-specific shocks. The instrument is valid because firms pass some of their productivity shocks onto wages; moreover, for most workers, firm shocks are hard to avoid. Our estimates suggest a coefficient of relative prudence of 2, in a very plausible range.
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Angeletos, George-Marios. "Uninsured idiosyncratic investment risk and aggregate saving." Review of Economic Dynamics 10, no. 1 (2007): 1–30. http://dx.doi.org/10.1016/j.red.2006.11.001.
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Liu, Desu. "Bivariate risk attitudes, informal care and saving." Applied Economics 48, no. 39 (2016): 3714–22. http://dx.doi.org/10.1080/00036846.2016.1142664.
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Deidda, Manuela. "Precautionary Saving, Financial Risk, and Portfolio Choice." Review of Income and Wealth 59, no. 1 (2012): 133–56. http://dx.doi.org/10.1111/roiw.12001.
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Banks, J., R. Blundell, and A. Brugiavini. "Risk Pooling, Precautionary Saving and Consumption Growth." Review of Economic Studies 68, no. 4 (2001): 757–79. http://dx.doi.org/10.1111/1467-937x.00189.
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Russell, Philippa. "Saving children at risk: poverty and disability." Disability & Society 9, no. 2 (1994): 264–67. http://dx.doi.org/10.1080/09687599466780281.
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Giusto, Andrea, and Talan B. İşcan. "MARKET POWER AND THE AGGREGATE SAVING RATE." Macroeconomic Dynamics 23, no. 06 (2018): 2269–97. http://dx.doi.org/10.1017/s1365100517000694.
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Can increasing market power cause a decrease in the aggregate savings? We answer this question by using a heterogeneous agents model that features both idiosyncratic labor and capital income risk. Under complete markets, the saving rate does not depend on the degree of market power, but when markets are incomplete, higher markups substantially reduce the aggregate saving rate. This is due to endogenous changes in the distribution of income and wealth. A calibration of the model using the observed changes in market power in the United States since the 1970s closely matches the decline in the US saving rate. Furthermore, when market power increases, the model generates distributional changes that are consistent with the data.
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Mlawasi, Andrew Kubo. "Financial Risk and Profit Persistence of Deposit-Taking Savings and Credit Cooperatives in Kenya." Journal of Finance and Accounting 7, no. 1 (2023): 22–43. http://dx.doi.org/10.53819/81018102t4121.
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Compliance with the prudential standards as prescribed in the saving and Credit Cooperatives Societies Act 2008 and the subsequent regulation of 2010 has continued to be a problem. The study sought to establish the effect of financial risk on profit persistence of deposit taking savings and credit co-operatives. To achieve this, the study was directed by specific objectives that included: establishing the effect of credit risk, risk of liquidity, market risk and risk of investment on profit persistence of deposit taking savings and credit co-operatives. The study also sought to establish the moderating effect of operational efficiency on the relationship between financial risk and profit persistence of deposit taking savings and credit co-operatives. The study targeted 174 deposit-taking saving and Credit Cooperatives as per the records at Sacco Societies Regulatory Authority 2022. This study was anchored on the agency theory, stakeholders’ theory, and the enterprise risk management theory. This study used a descriptive study approach. The sample population of the study included 174 deposit-taking savings and credit cooperatives, this was a census study. The study used secondary data from audited financial statements. The study findings revealed that credit risk was negatively and significantly related with profit persistence of deposit taking savings and credit co-operatives in Kenya (β=-0.0224311, p=0.000); liquidity risk was negatively and significantly related to the profit persistence of deposit taking savings and credit co-operatives in Kenya (β= -0.0522383, p=0.001); market risk positively and significantly related to the profit persistence of deposit taking savings and credit co-operatives in Kenya (β=0.0305016, p=0.025) and investment risk was negatively and significantly related to the profit persistence of deposit taking savings and credit co-operatives in Kenya (β=-0.0811061, p=0.040). Moreover, the study established that operational efficiency had significant moderating effect on the relationship between financial risk and profit persistence of deposit taking savings and credit co-operatives in Kenya. The study concludes that financial risks exposure for deposit taking savings and credit co-operatives in Kenya influences their profit persistence significantly because of their nature of operation. The study thus recommends that the managements of deposit taking savings and credit co-operatives in Kenya should consider employing portfolio-level controls to mitigate financial risks in their establishments. Keywords: Financial risk, credit risk, risk of liquidity, market risk, risk of investment operational efficiency, profit Persistence
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Jiang, Zhiheng. "Financial Literacy and Saving Behaviors of Households." Advances in Economics, Management and Political Sciences 65, no. 1 (2023): 99–110. http://dx.doi.org/10.54254/2754-1169/65/20231603.
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This paper studies the relationship between financial/numeric literacy and household saving and investment behaviors using the New York Feds Survey of Consumer Expectations. Using a panel dataset and a regression analysis, the study finds that although overall propensities to save, measured by saving rate and savings-to-wealth ratio, does not show a significant correlation with literacy measures, individuals portfolio choices between risk-free and risky assets are indeed affected by both literacy measures. The research indicates that individuals who report higher self-rated financial literacy and attain higher numeracy scores tend to allocate a more substantial portion of their savings into stocks. By contrast, they are inclined to hold a smaller portion of their wealth in risk-free liquid assets, such as checking accounts. More particularly, individuals with higher numeracy scores tend to allocate approximately 5.384% greater portion of their investments into stocks while simultaneously reducing their investments in checking accounts by 4.251%. Similarly, those with higher financial literacy tend to demonstrate an average increase of 10.085% in stock investments, coupled with a decrease of 12.506% in checking account investments. Notably, these effects are separate from influences of other factors like education, gender, and income.
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Beigie, Darin. "The Temptation of Risk." Mathematics Teaching in the Middle School 17, no. 5 (2011): 302–8. http://dx.doi.org/10.5951/mathteacmiddscho.17.5.0302.
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Christelis, Dimitris, Dimitris Georgarakos, Tullio Jappelli, and Maarten van Rooij. "Consumption Uncertainty and Precautionary Saving." Review of Economics and Statistics 102, no. 1 (2020): 148–61. http://dx.doi.org/10.1162/rest_a_00819.
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Using survey data from a representative sample of Dutch households, we estimate the strength of precautionary saving by eliciting subjective expectations on future consumption. Expected consumption risk is positively correlated with self-employment and income risk and negatively with age. We insert these subjective expectations (rather than consumption realizations, as in the existing literature) in an Euler equation for consumption and estimate the degree of prudence by associating expected consumption risk with expected consumption growth. Robust OLS and IV estimates indicate a coefficient of relative prudence of around 2. We obtain similar results via partial identification methods using weak assumptions.
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Wong, Ricky S., Magda Osman, Wai Hung Wong, Yiling Lin, and Kasper Ho. "Saving for a Better Retirement: How Risk Attitudes Affect Choice of Retirement Scheme." Psychological Reports 122, no. 1 (2018): 305–22. http://dx.doi.org/10.1177/0033294118755093.
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Over 3 million people in Hong Kong and 21 million people in the UK are saving for retirement under the mandatory provident fund and individual savings account schemes, respectively. Yet, we know little about how individual preferences, such as risk attitudes (risk-seeking and risk-averse) that are known to impact highly consequential decisions in a variety of real-world contexts, impact retirement investment choices. In two experimental studies (Study 1—Hong Kong sample and Study 2—United Kingdom sample), we show that personal risk attitudes were a strong predictor of the profile of retirement investment portfolios. Specially, risk-averse people allocated more of their savings to low-risk funds than risk-seeking people. The pattern of findings is consistent in both Hong Kong mandatory and the UK voluntary retirement investment schemes. These findings are considered in light of policy decisions made in Hong Kong retirement and UK pension schemes.
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Darwin Damanik, Pawer Darasa Panjaitan, Fariaman Purba, et al. "Sosialisasi Edukasi Menabung Sejak Dini di SDN 124404 Kelurahan Simarito Kota Pematangsiantar." Jurnal Nusantara Berbakti 2, no. 2 (2024): 33–41. http://dx.doi.org/10.59024/jnb.v2i2.417.
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The high purchasing power of society and within lengthy periods will cause the state falls into inflation. Inflation has its influence on domestic savings. Hence, the government tries to limit the amount of money which circulates and reduces inflation risk by offering higher interest rates for the people who deposit their money in national banks. The socialization program of early saving is carried out with the purpose of creating national program in creating a generation who isable to manage their finances well. Other than that, the program hopefully has the ability to leverage the interest in saving for children. The children may develop the habit into an insurance for their later life, and autonomously learn to save and to be responsible in managing the money,hence the goals of the program.Teaching the children to save early may also develop positive personality; to save means teaching the children how to be patient, and saving is useful for future savings.
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Miler, Marijana, and Nora Nikolac. "Patient safety is not compromised by excluding microscopic examination of negative urine dipstick." Annals of Clinical Biochemistry: International Journal of Laboratory Medicine 55, no. 1 (2017): 77–83. http://dx.doi.org/10.1177/0004563216687589.
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Background Microscopic examination of samples with negative dipstick results is not necessary. The aims of this study were to: (i) assess the risk of excluding urine sediment examination with negative dipstick results and (ii) calculate time savings by introducing this process. Methods The risk analysis was done for samples with negative urine dipstick and positive sediment findings. Possible missed elements in sediment were defined as 21 errors. Time saving was calculated as average time for preparation and examination sediments. Data were presented as counts and percentages. Results Out of 2997 samples, negative dipstick results were reported for 926 (30.6%) samples, out of which, microscopic examinations were positive for 527 (17.6%) samples. 18/21 errors were detected, with missing <5 squamous epithelial cells (SQEC) and bacteria 1+ as the most frequent ones (22.7% and 22.4%, respectively). Errors with the intermediate risk for patients were missing to report: ≥5 SQEC, ≥5 transitional epithelial cells, ≥10 hyaline casts (11.9%, 0.21%, 0.32%, respectively). Errors associated with high risk were not detected. Estimated total time saving is more than 25 h/month. Conclusions Microscopic examination of urine samples with negative dipstick results can be excluded without risk for patients and can result with considerable time savings.
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Sarabia-Sanchez, Francisco J., Isabel P. Riquelme, and Juan Manuel Bruno. "Resistance to Change and Perceived Risk as Determinants of Water-Saving Intention." Sustainability 13, no. 9 (2021): 4677. http://dx.doi.org/10.3390/su13094677.
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Both the academic literature and global organizations have emphasized the need for responsible water consumption, as stated in Sustainable Development Goal 12. However, individuals’ water-saving behaviors in their current state are not enough. This situation entails a resistance to change (RC) in consumer habits and a lack of perceived risk of scarcity. The novelty of this study lies in examining the influence of RC (through its emotional, cognitive, and confidence components) and perceived risk on water-saving intention. Interviews (n = 384) were conducted in the southeast Mediterranean area of Spain by interviewers using a paper-and-pencil questionnaire. The results of the structural equation modeling show that the perceived risk and the components of cognitive rigidity and negative emotions exert a direct influence on water-saving habits and an indirect influence on water-saving intention. None of the components of RC directly influence intention, and a lack of confidence in the outcomes of water saving does not influence water-saving habits or water-saving intention. In addition to the results obtained, the novelty of the work lies in the idea that in order to influence the perception of the risk of water scarcity through awareness campaigns, it is better to use an emotional message rather than showing facts or information because this does not drive water-saving behavior.
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BOVENBERG, LANS, and THEO NIJMAN. "Personal pensions with risk sharing." Journal of Pension Economics and Finance 16, no. 4 (2016): 450–66. http://dx.doi.org/10.1017/s1474747216000123.
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AbstractTo improve the design of the pay-out phase of DC plans, this paper proposes a new approach to structure pension products: the Personal Pension with Risk sharing (PPR). By unbundling and valuing the investment, (dis)saving, insurance and risk-sharing functions of pensions, PPRs allow risk management and (dis)saving to be customized to the specific features of heterogeneous individuals. Unlike variable annuities, PPRs allow investment risks to be combined with longevity insurance without giving rise to high year-on-year volatility in consumption streams or opaque and rigid valuation and smoothing rules. The synthesis of a PPR structure provides new opportunities for product innovation and for the comparison of retirement products.
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Chongbang, Nirmal, and Manoj Bhandari. "Local Support Practices Contribute into Strengthening Entrepreneurs Capacity." International Journal of Indonesian Business Review 3, no. 2 (2024): 100–111. http://dx.doi.org/10.54099/ijibr.v3i2.1050.
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The pandemic severely affected local and small enterprises. During the lockdown, local entrepreneurs suffered due to low earnings and savings, weak informal support practices, inadequate risk transfer measures, and insufficient state recovery policies and budgets. This paper investigates the primary self-supporting practices of entrepreneurs during the pandemic, assesses how available informal support contributed to building resilience, and examines how local entrepreneurs sustained themselves during the crisis. It explores whether local practices such as self-saving, community support, and state assistance were adequate for resilience building. The study employed convenience sampling of over forty-one micro, small, and medium entrepreneurs across various districts in Nepal. Research methods included closed-ended questionnaires, phone interviews, and in-person discussions. Data analysis involved qualitative and quantitative methods, revealing that self-saving was crucial for resilience, followed by risk transfer practices. The study concludes that local self-saving capacities, coupled with community support, significantly enhance resilience among entrepreneurs. However, informal support practices and state policies for pandemic recovery fell short of expectations.
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CLARK, ROBERT L., MADELEINE B. d'AMBROSIO, ANN A. McDERMED, and KSHAMA SAWANT. "Retirement plans and saving decisions: the role of information and education." Journal of Pension Economics and Finance 5, no. 1 (2006): 45–67. http://dx.doi.org/10.1017/s1474747205002271.
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Increasingly, individuals are being required to take more responsibility for their own retirement saving. Lifecycle theories of resource allocation provide a framework to examine work, retirement, consumption, and saving decisions. However, optimal decision making requires adequate knowledge of financial mathematics, risk and return properties of investments, and expectations concerning wage growth and tax policy. This paper explores the response of individuals to financial education seminars. Using data from three surveys of participants in seminars offered by TIAA-CREF, we estimate changes in retirement goals and saving behavior after the respondents have attended a seminar which discusses keep components of saving for retirement. The results indicate that financial education can produce significant changes in how individuals think and plan for retirement. Throughout the analysis, women were found to be more responsive to the seminar and were more likely to raise their desired retirement age, increase their target income replacement goal, and alter their savings behavior.