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

7 Pages Posted: 3 Mar 2016

See all articles by Edgar E. Kausel

Edgar E. Kausel

University of Chile - Faculty of Economics and Business

Erwin Hansen

University of Chile - Department of Business Administration

Pablo Tapia

University of Chile - Department of Business Administration

Date Written: March 2016

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.

JEL Classification: C2, D03, D14, E21, J32

Suggested Citation

Kausel, Edgar E. and Hansen, Erwin and Tapia, Pablo, Responsible Personal Finance: The Role of Conscientiousness in Bank and Pension Savings in Chile (March 2016). International Review of Finance, Vol. 16, Issue 1, pp. 161-167, 2016. Available at SSRN: https://ssrn.com/abstract=2741368 or http://dx.doi.org/10.1111/irfi.12069

Edgar E. Kausel (Contact Author)

University of Chile - Faculty of Economics and Business ( email )

Universidad de Chile
Diagonal Paraguay 257
Santiago
Chile
(56 2) 978 3790 (Phone)

Erwin Hansen

University of Chile - Department of Business Administration ( email )

Diagonal Paraguay 257
Santiago, 8330015
Chile

Pablo Tapia

University of Chile - Department of Business Administration ( email )

Diagonal Paraguay 257
Santiago, Please Select (only U.S. / Can / Aus) 8330015
Chile

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