Factors influencing willingness to save : a study on Thai salaried individuals | |
| Author | Preecha Swasdpeera |
| Call Number | AIT Diss. no.DBA-SOM-11-02 |
| Subject(s) | Willingness to save--Thailand Saving and investment--Thailand |
| Note | A dissertation submitted in partial fulfillment of the requirements for the degree of Doctor of Business Adminstration |
| Publisher | Asian Institute of Technology |
| Abstract | This study explores a set of factors that can possibly influence the willingness to save of individuals in Thailand. It focuses on salaried individuals because their number accounts for a very substantial portion of working population in Thailand. The study uses the phenomenological methodology as its major framework to investigate on how an individual interacts with those factors from his/her own perspective. The findings from phenomenological study are used as a basis for a questionnaire survey of which the data are quantitatively analyzed to measure the influence of each factor on the average saving ratios and amounts of targeted population. The study finds that income level is the key factor underlying the influence on saving. While age, married status, number of financially dependent children and educational level show a positive influence on the average saving level, they are significantly correlated with income level. If those factors do not come with the relatively high income level, their influence on saving statistically disappears. It was observed from in-depth interviews that the theme of security need visibly dominated the individual concern on saving. It may suggest that if an individual is made strongly concerned with his/her own security need, he/she may possibly have a more willingness to save. The study also finds that the safety of saving and the ease of access to saving are the major features underlying the trusted form of saving. Individuals who do not save money have a more indifferent attitude towards each stimulating factor, which may have an influence on the willingness to save, than the individuals who presently save money. The finding may suggest that if we can change the attitude of individuals who do not save to be in line with that of those individuals who presently save money, they may start to have a more intense willingness to save. Based on the results of study, the model of Influence on individual saving is established. The model suggests that the combination of following factors should influence an individual to save:- 1. The individual awareness of his/her concrete responsibility for a series of his/her serious future spending in life. 2. The concern on the unstable economic future that requires him/her to immediately take a series of saving actions for a certain period of time. 3. The income level that is high enough to generate a surplus portion for saving. 4. The availability of appropriate saving means that can at least satisfy an individual’s need for the security of saving and the ease of access to saving. The first two factors will intensify an individual willingness to save at his/her cognitive level, while the other two will turn the willingness to save into a series of saving actions. |
| Year | 2011 |
| Type | Dissertation |
| School | School of Management |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Doctor of Philosophy in Business Administration (Publication code = DBA-SM, SM) |
| Chairperson(s) | Pandey, I. M. (Co-Chairperson);Sununta Siengthai (Co-Chairperson); |
| Examination Committee(s) | Annachhatre, Ajit;Venkatesh, Sundar; |
| Degree | Thesis (Ph.D.) - Asian Institute of Technology, 2011 |