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The importance of financial self-efficacy in explaining personal finance
behavior: Female lecturers in a public universiti Terengganu, Malaysia.
Tan Jeng Kae
Supervisor: Dr. Suhal Kusairi
Bachelor of Economic (Natural Resources)
School of Social and Economic Development
The goal of this study is to examine the significance of financial self-efficacy in
explaining personal financial behavior of female lecturers on financial decision,
through the solicitation of a psychometric instrument. The study employed in the
research survey approach on the 239 female lecturers of a Public University in
Terengganu, selected based on simple random sampling. Using the multivariate probit
analysis, the results showed that financial self-efficacy is negatively related to
likelihood of a female lecturers having any credit card, loan, insurance, and takaful
products. In addition, female lecturers with higher education levels, household
income, and are employed gives them a stronger probability of having a loan products.
The important factor affecting the likelihood of a female lecturers having any
insurance or takaful products is ethnicity,marital status, household income level, TV,
magazine, and investment consultants. Financial self-efficacy is important to personal
financial advisor and the credit counseling and debt management agency (AKPK) to
help their customer to solve personal financial problems and make decision.
JEL Classification: G41, D01, D14
Keywords: Behavioral Finance: Financial Self-Efficacy, Financial Instruments
1384 | UMT UNDERGRADUATE RESEARCH DAY 2018