Responsible Personal Finance: The Role of Conscientiousness in Bank and Pension Savings in Chile*. (5th November 2015)

• Record Type: Journal Article
• Authors: Kausel, Edgar E.; Hansen, Erwin; Tapia, Pablo
• Is Part Of: International review of finance. Volume 16:Number 1(2016:Mar.)
• Page Start: 161
• Page End: 167
• Publication Date: 2015-11-05
• Subjects: C2 -- D03 -- D14 -- E21 -- J32; Finance -- Periodicals; Financial institutions -- Periodicals; 332.673
• DOI: 10.1111/irfi.12069
• Languages: English
• ISSNs: 1369-412X

Abstract

Abstract: 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 Chile, we find the expected effect of conscientiousness on pension and bank savings.