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Association between retirement behavior and financial goals: A comparison between urban and rural citizens in China

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  • Chavis Ketkaew
  • Chutima Sukitprapanon
  • Phaninee Naruetharadhol

Abstract

This study compares the financial planning behavior of urban and rural citizens in China. Data from 399 urban citizens and 315 rural citizens were analyzed by applying the structural equation modeling (SEM) approach and the multi-group analysis (MGA) so that urban and rural citizens’ retirement behaviors were able to compare. We found that an individual’s retirement behavior is related to perceived retirement benefits, perceived health status, financial attainment capacity, and perceived parental burden. The SEM model also suggested the positive relationship between retirement behavior and individual short-term financial goals, which in turn influence long-term financial goals. Finally, the MGA indicated behavior differences between rural and urban citizens in terms of retirement benefit sufficiency and perceived parental burden.

Suggested Citation

  • Chavis Ketkaew & Chutima Sukitprapanon & Phaninee Naruetharadhol, 2020. "Association between retirement behavior and financial goals: A comparison between urban and rural citizens in China," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1739495-173, January.
    • Handle: RePEc:taf:oabmxx:v:7:y:2020:i:1:p:1739495
    DOI: 10.1080/23311975.2020.1739495
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    Cited by:

    1. Juan Carlos Caro & Marcela Parada‐Contzen, 2022. "Pension Incentives and Retirement Planning in Rural China: Evidence for the New Rural Pension Scheme," The Developing Economies, Institute of Developing Economies, vol. 60(1), pages 3-29, March.
    2. Chanchai Phonthanukitithaworn & Phaninee Naruetharadhol & Nathatenee Gebsombut & Raoyrin Chanavirut & Wanwipada Onsa-ard & Pawanrut Joomwanta & Zou Chanyuan & Chavis Ketkaew, 2020. "An Investigation of the Relationship Among Medical Center’s Image, Service Quality, and Patient Loyalty," SAGE Open, , vol. 10(4), pages 21582440209, December.
    3. Teerapong Pienwisetkaew & Peerapong Wongthahan & Phaninee Naruetharadhol & Sasichakorn Wongsaichia & Chonnipa Vonganunsuntree & Siraphat Padthar & Santi Nee & Ping He & Chavis Ketkaew, 2022. "Consumers’ Intention to Purchase Functional Non-Dairy Milk and Gender-Based Market Segmentation," Sustainability, MDPI, vol. 14(19), pages 1-25, September.
    4. Sasichakorn Wongsaichia & Phaninee Naruetharadhol & Johannes Schrank & Premchai Phoomsom & Kanjakhon Sirisoonthonkul & Vorrapol Paiyasen & Sedthawut Srichaingwang & Chavis Ketkaew, 2022. "Influences of Green Eating Behaviors Underlying the Extended Theory of Planned Behavior: A Study of Market Segmentation and Purchase Intention," Sustainability, MDPI, vol. 14(13), pages 1-20, July.

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