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Economic, Sociological, and Psychological Factors of the Saving Behavior: Turkey Case

Author

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  • Zeynep Copur

    (Hacettepe University)

  • Michael S. Gutter

    (University of Florida)

Abstract

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.

Suggested Citation

  • Zeynep Copur & Michael S. Gutter, 2019. "Economic, Sociological, and Psychological Factors of the Saving Behavior: Turkey Case," Journal of Family and Economic Issues, Springer, vol. 40(2), pages 305-322, June.
    • Handle: RePEc:kap:jfamec:v:40:y:2019:i:2:d:10.1007_s10834-018-09606-y
    DOI: 10.1007/s10834-018-09606-y
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    More about this item

    Keywords

    Saving; Investment; Financial management behavior;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth

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