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Please use this identifier to cite or link to this item: http://hdl.handle.net/1812/584

Title: Financial planning behavior of Malaysians: A comparative study using selected demographic variable
Authors: Ulun, Lorna
Keywords: Financial planning behavior
Urban Malaysians
Investment behavior
Financial planning for old age
Financial products
Policy formulation
Issue Date: Aug-2009
Publisher: University Malaya
Abstract: Over the past few years, the world’s population has continued on its remarkable transition path from a state of high birth and death rates to one characterized by low birth and death rates. At the heart of that transition has been the growth in the number and proportion of older persons. Older persons as consumer face many challenges. One of the challenges relates to income, a resource that is crucial in maintaining quality of life. Herein lies the main objective of the research is to examine the financial planning behavior of urban Malaysians. The specific objectives are to examine the savings and investment behavior of Malaysians and what are the factors that influence the decision for financial planning for old age. Secondly is to determine the types of financial products adopted in planning for old age and compared the behavior of Malaysians with regards to financial planning behavior using selected demographic variables. The third objective is to identify reasons for the lack of financial planning among older people and finally is to suggest strategies for public policy makers in terms of policy formulation and implementation as well as to marketers interested in targeting individuals for portfolio investments and savings. This study uses the convenience sampling method and data was collected using a structured questionnaire that covers variables about financial planning. Data was collected from respondents in the Kuala Lumpur and Petaling Jaya areas. There were 426 respondents of which about 60% were Malays, 20% Chinese and Indians, respectively. The mean age was 51.9 years. About half (49.6% or N=210) had financial planning for retirement while an almost equal number of respondents (50.4% or N=213) did not have any financial planning. For those who had financial planning, the financial services products used for retirement planning were savings, followed by insurance, property insurance and unit trusts, and fixed deposits. This shows that Malaysians are still largely depending on the traditional financial products to protect their money. No significant differences were found with respect to financial planning behaviour between gender and age as well as among the three ethnic groups. Implications of the study and ecommendations for marketers as well as directions for future research are discussed.
Description: Dissertation -- Faculty of Business and Accountancy, University of Malaya, 2009.
URI: http://dspace.fsktm.um.edu.my/handle/1812/584
Appears in Collections:Masters Dissertations : MBA

Files in This Item:

File Description SizeFormat
Final REPORT_29 JUNE 2009.pdfFinal Report241.53 kBAdobe PDFView/Open
FIRST PAGE.pdfFirst Page7.93 kBAdobe PDFView/Open
Abstract,Aknowledgement & Table.pdfAbstract & Acknowledgement &Table35.12 kBAdobe PDFView/Open
HARD COVER.pdfHard Cover7.36 kBAdobe PDFView/Open

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