Responsible Personal Finance: The Role of Conscientiousness in Bank and Pension Savings in Chile

2016. International Review of Finance. Vol. 16. Pp. 161-167

Edgar Kausel E, Erwin Hansen S, Pablo Tapia G

Abstract:

We investigate the role of trait conscientiousness, from the Big Five person-ality traits, in explaining individual saving behavior. Conscientiousness is adisposition to be responsible and pursue non-immediate goals; thus, weexpect this trait to positively predict saving behavior. Using a nationallyrepresentative survey from Chile, we find the expected effect of conscien-tiousness on pension and bank savings.

Palabras claves: JEL classification: C2, D03, D14, E21, J32

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