Effect of business education and personality on retirement saving

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dc.contributor Aalto University en
dc.contributor Aalto-yliopisto fi
dc.contributor.author Korhonen, Julia
dc.date.accessioned 2011-11-14T11:23:52Z
dc.date.available 2011-11-14T11:23:52Z
dc.date.issued 2011
dc.identifier.uri https://aaltodoc.aalto.fi/handle/123456789/654
dc.description.abstract PURPOSE OF THE STUDY The objective of the study is to examine whether the field of education, personality and political values affect the decision to save for retirement. In the thesis, personality is measured in terms of an abbreviated version of the Big Five personality trait indicator. The focus is on examining both investing in pension insurance or PS agreement and otherwise saving for retirement. Furthermore, the impact of expectations that people have about their actual retirement age on the decision to save for retirement and the determinants of considering additional pension savings needed are studied. DATA The study employs data gathered with a tailored questionnaire about the demographics, characteristics, personality traits and expectations concerning retirement. The sample consists of 636 respondents of which 259 have education in economics. The survey was targeted to members of The Finnish Association of Business School Graduates (SEFE) and The Finnish Association of Graduate Engineers (TEK). RESULTS The findings give supportive evidence of significant positive impact of business education on retirement saving. When examining the effects of the Big Five personality dimensions, extraversion stands out as a significant factor positively affecting the probability of saving for retirement. In addition, some support for the negative impact of openness on retirement saving is found. Moreover, the results suggest that those who do not have pension insurance or PS account mainly due to otherwise saving for retirement tend to have higher risk tolerance, live more often in a big city and more often have wealth in stocks compared to those individuals who are saving for retirement in form of pension insurance or PS agreement. KEYWORDS Retirement saving, economics education, personality en
dc.format.extent 77
dc.format.mimetype application/pdf en
dc.language.iso en en
dc.title Effect of business education and personality on retirement saving en
dc.type G2 Pro gradu, diplomityö fi
dc.contributor.school Kauppakorkeakoulu fi
dc.contributor.school School of Economics en
dc.contributor.department Department of Finance en
dc.contributor.department Rahoituksen laitos fi
dc.subject.keyword retirement saving
dc.subject.keyword economics education
dc.subject.keyword personality
dc.identifier.urn URN:NBN:fi:aalto-201111181566
dc.type.dcmitype text en
dc.programme.major Finance en
dc.programme.major Rahoitus fi
dc.type.ontasot Master's thesis en
dc.type.ontasot Pro gradu tutkielma fi
dc.subject.helecon rahoitus
dc.subject.helecon financing
dc.subject.helecon behavioral finance
dc.subject.helecon behavioral finance
dc.subject.helecon kaupallinen koulutus
dc.subject.helecon business education
dc.subject.helecon psykologia
dc.subject.helecon psychology
dc.subject.helecon säästäminen
dc.subject.helecon savings
dc.subject.helecon käyttäytyminen
dc.subject.helecon behaviour
dc.ethesisid 12522
dc.date.dateaccepted 2011-05-10
dc.location P1 I


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