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Responsible Personal Finance: The Role of Conscientiousness in Bank and Pension Savings in C hile
Author(s) -
Kausel Edgar E.,
Hansen Erwin,
Tapia Pablo
Publication year - 2016
Publication title -
international review of finance
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.489
H-Index - 18
eISSN - 1468-2443
pISSN - 1369-412X
DOI - 10.1111/irfi.12069
Subject(s) - conscientiousness , big five personality traits , trait , personality , pension , psychology , business , social psychology , finance , computer science , extraversion and introversion , programming language
We investigate the role of trait conscientiousness, from the Big Five personality traits, in explaining individual saving behavior. Conscientiousness is a disposition to be responsible and pursue non‐immediate goals; thus, we expect this trait to positively predict saving behavior. Using a nationally representative survey from C hile, we find the expected effect of conscientiousness on pension and bank savings.