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博碩士論文 etd-0718111-164811 詳細資訊
Title page for etd-0718111-164811
論文名稱
Title
以社經背景、未來觀點、財金知識做為退休規劃預測變數之研究
Social Influence, Future Time Perspective, and Financial Literacy as Predictors of Retirement Planning
系所名稱
Department
畢業學年期
Year, semester
語文別
Language
學位類別
Degree
頁數
Number of pages
77
研究生
Author
指導教授
Advisor
召集委員
Convenor
口試委員
Advisory Committee
口試日期
Date of Exam
2011-06-17
繳交日期
Date of Submission
2011-07-18
關鍵字
Keywords
社經背景、財金知識、未來觀點
personality, future time perspective, financial planning, financial literacy, retirement planning
統計
Statistics
本論文已被瀏覽 5787 次,被下載 1496
The thesis/dissertation has been browsed 5787 times, has been downloaded 1496 times.
中文摘要
摘要
做好未來的退休生活的準備是一件相當複雜的任務,有些人能過著無憂無慮的退休生活,有些人則否,甚至顛沛流離。本研究測試台灣市場的全職工作者並探討有關退休規畫及儲蓄的投資者行為,對134位受試者分別進行問卷調查,內容包括:針對不同未來時間看法、退休目標的明確性、金融知識程度、退休規畫能力及每月退休儲蓄水準。結果指出FTP可顯著預測儲蓄能力以及目標的明確性,這也同時預測出金融知識程度以及規畫未來退休生活的能力。雖然金融知識程度可以預測出規畫未來退休生活的能力,但本研究並不認同規畫未來退休生活的能力可以預測出每月退休儲蓄水準。再者,FTP、財務風險承受能力及金融知識之間的交互作用因子趨近顯著,但小樣本可能侷限有限的統計考驗力。路徑分析數據表示支持Hershey (2004) 提出的退休規畫模型,而資料測試出不符合Hershey, Jacobs-Lawson, McArdle, and Hamagami (2007) 和Stawski, Hershey and Jacobs-Lawson (2007) 的模型,本研究中因而提出新的退休規畫及儲蓄的模型。另外,造成資料測試不符合的原因,很可能是文化規範影響儲蓄水準相對低投資者的退休儲蓄能力,也可能是他們選擇投資未來生活而不儲蓄可支配所得。
Abstract
Abstract
Preparing for retirement is a complex task at which some individuals succeed while others do not, often with dire consequences. A model of investor behavior including retirement planning and saving is tested in a Taiwanese sample of full-time working adults. 134 participants completed a questionnaire about future time perspective, retirement goal clarity, financial literacy, retirement planning activity level and monthly savings contributions. Results indicated that FTP was a significant predictor of savings contributions and goal clarity which in turn predicted financial literacy and planning activity level. Financial literacy predicted planning activity level. No support was found for planning activity level as a predictor of monthly savings contributions. A three-way interaction with FTP, financial risk tolerance and financial knowledge as predictors of savings contributions was approaching significance, but small sample size likely limited statistical power. Path analysis shows some support for a model of retirement planning proposed by Hershey (2004) though data do not fit models previously tested by Hershey, Jacobs-Lawson, McArdle, and Hamagami (2007) and Stawski, Hershey and Jacobs-Lawson (2007). Instead a new model of retirement planning and savings contributions is proposed. However it is likely that savings norms affect contributions such that those who do not plan for retirement do not save at a rate lower than those who do. It is also likely that those who do plan for retirement invest rather than save disposable income.
Keywords: retirement planning, personality, future time perspective, financial planning, financial literacy
目次 Table of Contents
Thesis Approval Sheet ............................................................................................................. i
Acknowledgements ................................................................................................................ ii
Abstract (Mandarin) .............................................................................................................. iv
Abstract (English) ................................................................................................................... v
List of Tables ...................................................................................................................... viii
List of Figures ........................................................................................................................ ix
Chapter I Introduction ........................................................................................................... 1
1.1 Background ....................................................................................................................... 1
1.2 Problem Statement ............................................................................................................ 3
1.3 Research Questions ........................................................................................................... 4
Chapter II Literature Review ................................................................................................. 5
2.1 Retirement Pensions and Saving ...................................................................................... 5
2.1.1 Public Retirement Pensions ........................................................................................... 5
2.1.2 Private Retirement Pensions .......................................................................................... 6
2.1.3 Savings.......................................................................................................................... 7
2.2Model of Retirement Savings ............................................................................................ 9
2.2.1 Cultural Norms and Peer Effects ................................................................................. 10
2.3 Psychological Influences ................................................................................................ 11
2.3.1 Five Factor Model of Personality ................................................................................ 11
2.3.2 Time Perspective ......................................................................................................... 13
2.3.3 Financial Risk Tolerance ............................................................................................. 15
2.3.4 Cognitive Factors and Financial Literacy .................................................................... 16
2.3.5 Retirement Goal Clarity ............................................................................................... 17
2.4 Investor Behavior ........................................................................................................... 19
2.4.1 Savings, Information-Seeking and Instrumental Behaviors ........................................ 19
Chapter III Data and Methodology ...................................................................................... 20
3.1 Retirement Planning in Taiwan ...................................................................................... 20
3.2 Questionnaire .................................................................................................................. 20
3.2.1 Scale Internal Consistency ........................................................................................... 21
3.2.2 Retirement Knowledge in the Community .................................................................. 22
3.2.3 Future Time Perspective .............................................................................................. 22
3.2.4 Financial Literacy ........................................................................................................ 23
3.2.5 Retirement Goal Clarity ............................................................................................... 24
3.2.6 Retirement Planning Activity Level ............................................................................ 25
3.2.7 Financial Risk Tolerance ............................................................................................. 25
3.2.8 Savings Contributions.................................................................................................. 25
3.3 Hypotheses ...................................................................................................................... 26
3.4 Path Analysis Plan .......................................................................................................... 31
3.5 Data Cleaning and Preparation ....................................................................................... 32
3.6 Descriptive Statistics ...................................................................................................... 33
Chapter IV Results ............................................................................................................... 36
4.1 Spearman rank correlations ............................................................................................ 36
4.2 Path Analysis .................................................................................................................. 41
4.2.1 Hypothesized Model .................................................................................................... 43
4.2.2 Revised Model ............................................................................................................. 47
4.3 Stepwise Regression Analysis ........................................................................................ 49
4.4 Hierarchical Regression Model ...................................................................................... 51
Chapter V Conclusion and Suggestions .............................................................................. 54
5.1 Retirement Savings in Taiwan ........................................................................................ 54
5.2 Model of Retirement Preparedness ................................................................................. 54
5.3 Interaction of Psychological Variables ........................................................................... 55
5.4 Limitations ...................................................................................................................... 55
5.5 Future Direction .............................................................................................................. 56
References ............................................................................................................................ 57
Appendix A – English Questionnaire ................................................................................... 62
Appendix B – Mandarin Chinese Questionnaire .................................................................. 65
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