Moderating effects of gender on the relationship between financial knowledge, financial attitude and self-control and financial behaviour among college- bound Gen Y in Klang Valley, Malaysia
Bankruptcy cases among youth are increasing each year. A total of 20 percent from all bankruptcy cases in Malaysia consist of those aged 35 years old and below (Malaysian Department of Insolvency, 2012) – an age cohort specifically known as Generation Y. In comparison with the previous generation,...
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| Format: | Thesis |
| Language: | English |
| Published: |
2015
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| Subjects: | |
| Online Access: | http://psasir.upm.edu.my/id/eprint/67872/1/FEM%202015%2065%20%20IR.pdf |
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| Summary: | Bankruptcy cases among youth are increasing each year. A total of 20 percent from all bankruptcy cases in Malaysia consist of those aged 35 years old and below
(Malaysian Department of Insolvency, 2012) – an age cohort specifically known as
Generation Y. In comparison with the previous generation, this generation has unique
personalities. Additionally, in future, they have the prospective of earning higher
income upon completing college. Hence, this study is significant in an attempt to
ensure that Generation Y are able to perform effective financial behaviour to help
them avoid from possible financial crisis such as bankruptcy.
The objectives of the study are to determine gender differences in financial
behaviour, financial attitude, financial knowledge and self-control among Generation
Y in college. Moreover, this study intends to determine the moderating effect of
gender on the relationships between three variables (financial knowledge, financial
attitude and self-control) and financial behaviour. The study utilises secondary data
of a research project on “Generation Y’s Consumer Competency and Lifestyle” in
2012 which was funded through Research University Grant Scheme (RUGS). Data
were collected among six public universities and three private universities in the
Klang Valley area using self-administered questionnaires. Respondents were selected
using stratified random sampling technique. A total of 2,068 respondents involved in
the study. However, only 1,399 were usable and used in the study. From the collected
data, descriptive, t-test and hierarchical regression analysis were conducted using
IBM SPSS (Version 21) to meet the objectives of the study.
Findings showed that gender differences exist in financial behaviour, financial
knowledge and financial attitude of Generation Y. Female students were found to
have higher financial knowledge and possessed more positive financial attitude
compared to male students. However, behaviour wise, male students indicated that
they practiced more effective financial behaviour than the female counterpart.
Ironically, despite having higher financial knowledge and more positive financial
attitude, female students were not at par with male students in the aspect of effective
financial behaviour.
Results of hierarchical regression analyses showed that the moderating effect of
gender existed on the following: financial knowledge and financial behaviour; and
financial attitude and financial behaviour. The relationships, specifically, between
financial knowledge and financial behaviour; and financial attitude and financial
behaviour were stronger among female than male. Therefore, being female would
enhance the relationship between financial knowledge and financial behaviour; and
financial attitude and financial behaviour. The moderating effect of gender on the
relationship between self-control and financial behaviour were found to be
insignificant. However, self-control was found to have direct influence on the
financial behaviour. It means that self-control affect the way students behave
financially regardless of the gender. In conclusion, gender has a significant influence
on the relationship between financial knowledge and financial attitude, and financial
behaviour. Therefore, parties directly or indirectly involve in financial socialization
of youth such as financial educators, policy makers and parent should take into
account gender differences in their dealing and intervention programmes. |
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