The development and empirical evaluation of a saving behaviour structural model

Kleingbiel, Kristi (2020-03)

Thesis (MCom)--Stellenbosch University, 2020.

Thesis

ENGLISH ABSTRACT : Employee well-being is directly linked to productivity and efficiency. Overall well-being encapsulates a variety of dimensions, amongst other, financial well-being. Saving behaviour is an inherent component of financial well-being. The extent to which South African employees engage in saving behaviour is declining at a rapid rate. This research study aimed to investigate the dynamics of a selected set of variables that could possibly account for variance in saving behaviour, as a means to better understand and conceptualise the psychological processes underlying saving behaviour amongst employees in South Africa. The selected variables include gender, financial delay of gratification, self-control, financial literacy and financial self-efficacy. An ex post facto correlational design with a non-probability convenience sample of 199 South African employees was utilised. The results of the analysis (conducted with PLS) provided sufficient evidence that four of the nine hypothesised paths contained in the model were significant. More specifically, the direct relationship between gender and saving behaviour, as well as the relationship between self-control and delay of gratification were found to be significant, although the relationship from delay of gratification to saving behaviour was not significant. Moreover, although no evidence was found for financial literacy as a direct predictor of saving behaviour, it was found to be a significant predictor of financial self-efficacy, whilst financial self-efficacy emerged as a significant predictor of saving behaviour. Thereby implying that the effect of financial literacy on saving behaviour was not a direct effect, but rather mediated by financial self-efficacy. Therefore, it is suggested that if organisations design and implement interventions aimed to increase the financial literacy of employees, financial self-efficacy should likely increase. Furthermore, an increase in financial self-efficacy will possibly have a positive influence on saving behaviour.

AFRIKAANSE OPSOMMING : Die welstand van werknemers word direk gekoppel aan hulle produktiwiteit en doeltreffendheid. Algehele welstand omvat 'n verskeidenheid dimensies, onder andere finansiële welstand. Spaargedrag is 'n inherente komponent van finansiële welstand. Die mate waartoe Suid-Afrikaanse werknemers spaargedrag beoefen, neem toenemend af. Die navorsingstudie het beoog om die dinamika van 'n spesifieke stel veranderlikes te ondersoek wat moontlik verskille in spaargedrag kan verduidelik. Die doel was om die sielkundige prosesse, onderliggend aan die spaargedrag van werknemers in Suid-Afrika, beter te verstaan en te konseptualiseer. Die geselekteerde veranderlikes het ingesluit: geslag, finansiële vertraging van bevrediging, self-beheersing, finansiële geletterdheid, en finansiële self-doeltreffendheid. ‘n Ex post facto korrelasie ontwerp met ‘n nie-waarskynlikheidsteekproef van 199 Suid-Afrikaanse werknemers is gebruik. Die resultate van die ontledings (uitgevoer met PLS) het voldoende bewys gelewer dat vier van die nege veronderstelde bane in die model beduidend was. Meer spesifiek, die direkte verhouding tussen geslag en spaargedrag, sowel as die verhouding tussen self-beheersing en vertraging van bevrediging, was beduidend, alhoewel die verhouding tussen finansiële vertraging van bevrediging en spaargedrag nie beduidend was nie. Alhoewel daar geen bewyse gevind was dat finansiële geletterdheid 'n beduidende voorspeller van spargedrag was nie, was daar bewyse dat finansiële geletterdheid 'n belangrike voorspeller van finansiële self-doeltreffendheid was en dat finansiële self-doeltreffendheid 'n beduidende voorspeller van spaargedrag was. Dit impliseer dus dat die effek van finansiële geletterdheid op spaargedrag nie direk was nie, maar eerder medieer word deur finansiële self-doeltreffendheid. Dit word voorgestel dat intervensies, wat poog om die finansiële geletterdheid van werknemers te verhoog, waarskynlik die vlakke van finansiële self-doeltreffendheid sal verhoog. Hierdie toename in finansiële self-doeltreffendheid sal moontlik 'n positiewe invloed op spaargedrag hê.

Please refer to this item in SUNScholar by using the following persistent URL: http://hdl.handle.net/10019.1/108170
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