IDEAS home Printed from https://ideas.repec.org/a/bla/jconsa/v55y2021i4p1398-1415.html
   My bibliography  Save this article

Who has a cushion? The interactive effect of social exclusion and gender on fixed savings

Author

Listed:
  • Lu Yang
  • Yuhuang Zheng
  • Rui Chen

Abstract

Saving behavior affects both personal welfare and national economies. This study examined the effect of social exclusion, a breakdown of social relationship, on fixed savings, which is especially pertinent to Asians. By considering the cushion hypothesis theory and the gender disparity in social connectedness, this study proposes that men and women display different fixed savings behavior in response to social exclusion. In particular, social exclusion (vs. acceptance) decreases men's fixed savings intention, as isolation stimulates them to expect less social connectedness, which means it is hard to get social support and, thus, heightens their need for resource liquidity. In contrast, social exclusion (vs. acceptance) does not affect women's fixed savings intention because women do not anticipate less social connectedness due to social exclusion. Three experiments provide convergent support for this proposition and verify the theoretical process of the expected social connectedness, coupled with the need for resource liquidity. The alternative explanations for self‐efficacy, power, control, and mood are also discussed.

Suggested Citation

  • Lu Yang & Yuhuang Zheng & Rui Chen, 2021. "Who has a cushion? The interactive effect of social exclusion and gender on fixed savings," Journal of Consumer Affairs, Wiley Blackwell, vol. 55(4), pages 1398-1415, December.
    • Handle: RePEc:bla:jconsa:v:55:y:2021:i:4:p:1398-1415
    DOI: 10.1111/joca.12330
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/joca.12330
    Download Restriction: no
    File URL: https://libkey.io/10.1111/joca.12330?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Zheng, Xiaolan & El Ghoul, Sadok & Guedhami, Omrane & Kwok, Chuck C.Y., 2012. "National culture and corporate debt maturity," Journal of Banking & Finance, Elsevier, vol. 36(2), pages 468-488.
    2. Utpal Dholakia & Leona Tam & Sunyee Yoon & Nancy Wong, 2016. "The Ant and the Grasshopper: Understanding Personal Saving Orientation of Consumers," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 43(1), pages 134-155.
    3. Irina A. Telyukova, 2013. "Household Need for Liquidity and the Credit Card Debt Puzzle," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 80(3), pages 1148-1177.
    4. Wolfgang Breuer & Thorsten Hens & Astrid Juliane Salzmann & Mei Wang, 2015. "On the determinants of household debt maturity choice," Applied Economics, Taylor & Francis Journals, vol. 47(5), pages 449-465, January.
    5. Guiso, Luigi & Jappelli, Tullio & Terlizzese, Daniele, 1992. "Earnings uncertainty and precautionary saving," Journal of Monetary Economics, Elsevier, vol. 30(2), pages 307-337, November.
    6. Daniel L. Thornton, 2009. "Personal saving and economic growth," Economic Synopses, Federal Reserve Bank of St. Louis.
    7. Rod Duclos & Echo Wen Wan & Yuwei Jiang, 2013. "Show Me the Honey! Effects of Social Exclusion on Financial Risk-Taking," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 40(1), pages 122-135.
    8. Emily N. Garbinsky & Anne-Kathrin Klesse & Jennifer Aaker, 2014. "Money in the Bank: Feeling Powerful Increases Saving," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 41(3), pages 610-623.
    9. S. Browne & M. A. Milevsky & T. S. Salisbury, 2003. "Asset Allocation and the Liquidity Premium for Illiquid Annuities," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 70(3), pages 509-526, September.
    10. Lunt, Peter K. & Livingstone, Sonia M., 1991. "Psychological, social and economic determinants of saving: comparing recurrent and total savings," Journal of Economic Psychology, Elsevier, vol. 12(4), pages 621-641, December.
    11. Marianne Fay, 2005. "The Urban Poor in Latin America," World Bank Publications - Books, The World Bank Group, number 7263.
    12. Garbinsky, Emily N. & Klesse, Anne-Kathrin & Aaker, Jennifer, 2014. "Money in the Bank: Feeling Powerful Increases Saving," Research Papers 2146, Stanford University, Graduate School of Business.
    13. David Dubois & Derek D. Rucker & Adam D. Galinsky, 2010. "The Accentuation Bias: Money Literally Looms Larger (and Sometimes Smaller) to the Powerless," Post-Print hal-00621067, HAL.
    14. John Beshears & James J. Choi & Joshua Hurwitz & David Laibson & Brigitte C. Madrian, 2015. "Liquidity in Retirement Savings Systems: An International Comparison," American Economic Review, American Economic Association, vol. 105(5), pages 420-425, May.
    15. Lei Su & Yuwei Jiang & Zhansheng Chen & C. Nathan DeWall, 2017. "Social Exclusion and Consumer Switching Behavior: A Control Restoration Mechanism," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 44(1), pages 99-117.
    16. David Dequech, 2000. "Asset Choice, Liquidity Preference, and Rationality under Uncertainty," Journal of Economic Issues, Taylor & Francis Journals, vol. 34(1), pages 159-176, March.
    17. Jaehoon Lee & L. J. Shrum, 2012. "Conspicuous Consumption versus Charitable Behavior in Response to Social Exclusion: A Differential Needs Explanation," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 39(3), pages 530-544.
    18. Derek D. Rucker & Adam D. Galinsky, 2008. "Desire to Acquire: Powerlessness and Compensatory Consumption," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 35(2), pages 257-267, April.
    19. Echo Wen Wan & Jing Xu & Ying Ding, 2014. "To Be or Not to Be Unique? The Effect of Social Exclusion on Consumer Choice," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 40(6), pages 1109-1122.
    20. Ka Lin & Yun Xu & Tianhai Huang & Jiahua Zhang, 2013. "Social Exclusion and Its Causes in East Asian Societies: Evidences from SQSQ Survey Data," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 112(3), pages 641-660, July.
    21. David Dubois & Derek D. Rucker & Adam D. Galinsky, 2010. "The Accentuation Bias: Money Literally Looms larger to the Powerless," Post-Print hal-00701816, HAL.
    22. Salvatore di Falco & Erwin Bulte, 2011. "A Dark Side of Social Capital? Kinship, Consumption, and Savings," Journal of Development Studies, Taylor & Francis Journals, vol. 47(8), pages 1128-1151, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Liu, Fu & Wei, Haiying & Zhu, Zhenzhong & Chen, Haipeng (Allan), 2022. "Warmth or competence: Brand anthropomorphism, social exclusion, and advertisement effectiveness," Journal of Retailing and Consumer Services, Elsevier, vol. 67(C).
    2. Wang, Yajin, 2022. "A conceptual framework of contemporary luxury consumption," International Journal of Research in Marketing, Elsevier, vol. 39(3), pages 788-803.
    3. Wei, Chuang & Liu, Maggie Wenjing & Keh, Hean Tat, 2020. "The road to consumer forgiveness is paved with money or apology? The roles of empathy and power in service recovery," Journal of Business Research, Elsevier, vol. 118(C), pages 321-334.
    4. Koo, Jayoung & Im, Hyunjoo, 2019. "Going up or down? Effects of power deprivation on luxury consumption," Journal of Retailing and Consumer Services, Elsevier, vol. 51(C), pages 443-449.
    5. Carolina Laureti, 2015. "The Debt Puzzle in Dhaka’s Slums: Do Poor People Co-hold for Liquidity Needs?," Working Papers CEB 15-021, ULB -- Universite Libre de Bruxelles.
    6. Darren W Dahl & Eileen Fischer & Gita V Johar & Vicki G Morwitz, 2017. "Making Sense from (Apparent) Senselessness: The JCR Lens," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 44(4), pages 719-723.
    7. Xiaoming Fan, 2024. "The coldness of machines vs. the warmth of humans: social exclusion and compensatory consumption of handmade products," Italian Journal of Marketing, Springer, vol. 2024(3), pages 267-285, September.
    8. Mukherjee, Ashesh & Lee, Seung Yun & Burnham, Thomas, 2020. "The effect of others’ participation on charitable behavior: Moderating role of recipient resource scarcity," Journal of Business Research, Elsevier, vol. 120(C), pages 213-228.
    9. Ahyoung Yu & Seunghee Han, 2021. "Social Exclusion and Effectiveness of Self-Benefit versus Other-Benefit Marketing Appeals for Eco-Friendly Products," Sustainability, MDPI, vol. 13(9), pages 1-11, April.
    10. Xueqin Wang & Yiik Diew Wong & Kum Fai Yuen, 2021. "Rise of ‘Lonely’ Consumers in the Post-COVID-19 Era: A Synthesised Review on Psychological, Commercial and Social Implications," IJERPH, MDPI, vol. 18(2), pages 1-22, January.
    11. D. M. Sachinthanee Dissanayake & Ananda K. L. Jayawardana, 2023. "The impact of personal sense of power on unethical decision-making: a moderated mediation model of love of money motive and power distance orientation," DECISION: Official Journal of the Indian Institute of Management Calcutta, Springer;Indian Institute of Management Calcutta, vol. 50(1), pages 19-34, March.
    12. Christopher L. Newman & Melissa D. Cinelli & Douglas Vorhies & Judith Anne Garretson Folse, 2019. "Benefitting a few at the expense of many? Exclusive promotions and their impact on untargeted customers," Journal of the Academy of Marketing Science, Springer, vol. 47(1), pages 76-96, January.
    13. Zhang, Mingyue & Chen, Haipeng (Allan), 2024. "Risk-taking to restore negative self-view: The effect of autonomy and subjective business on financial risk-taking," Journal of Business Research, Elsevier, vol. 176(C).
    14. Elodie Gentina & Thomas Li-Ping Tang & Qinxuan Gu, 2018. "Do Parents and Peers Influence Adolescents’ Monetary Intelligence and Consumer Ethics? French and Chinese Adolescents and Behavioral Economics," Journal of Business Ethics, Springer, vol. 151(1), pages 115-140, August.
    15. Michael J. Barone & T. J. Bae & Shanshan Qian & Jason d’Mello, 2017. "Power and the appeal of the deal: how consumers value the control provided by Pay What You Want (PWYW) pricing," Marketing Letters, Springer, vol. 28(3), pages 437-447, September.
    16. Dominika Maison & Marta Marchlewska & Katarzyna Sekścińska & Joanna Rudzinska-Wojciechowska & Filip Łozowski, 2019. "You don’t have to be rich to save money: On the relationship between objective versus subjective financial situation and having savings," PLOS ONE, Public Library of Science, vol. 14(4), pages 1-15, April.
    17. Paramita, Widya & Septianto, Felix & Winahjoe, Sari & Purwanto, B.M. & Candra, Ika Diyah, 2020. "Sharing is (not) caring? The interactive effects of power and psychological distance on tolerance of unethical behavior," Australasian marketing journal, Elsevier, vol. 28(3), pages 42-49.
    18. Jang, Eunyoung & Arens, Zachary G., 2023. "Compensating for interpersonal relationships with brand relationships: A two-dimensional view," Journal of Business Research, Elsevier, vol. 157(C).
    19. Tae Hyun Baek & Sukki Yoon & Seeun Kim & Yeonshin Kim, 2019. "Social exclusion influences on the effectiveness of altruistic versus egoistic appeals in charitable advertising," Marketing Letters, Springer, vol. 30(1), pages 75-90, March.
    20. Choi, Woo Jin & Park, JaeHong & Yoon, Ho-Jung, 2018. "Your gift choice for your boss versus your subordinate would not be the same: The interplay of power and giver-receiver role on consumers' gift preferences," Journal of Business Research, Elsevier, vol. 91(C), pages 1-7.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:jconsa:v:55:y:2021:i:4:p:1398-1415. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: http://www.blackwellpublishing.com/journal.asp?ref=0022-0078 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.