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Savings Accounts, Savings Insurance and Private Financial Clubs and Their Determinants  

Kim SoonMi (충남대학교 소비자생활정보학과)
Yang JungSun (충남대학교 소비자생활정보학과)
Publication Information
Journal of the Korean Home Economics Association / v.42, no.9, 2004 , pp. 37-51 More about this Journal
Abstract
The purpose of this study was to examine the effects of household characteristics on savings account, savings insurance, and private financial clubs. Data for this study were collected from the 2001 Household Income and Expenditure Survey consisting of a sample of 1,801 salary and wage earners' households. Tobit analysis was peformed to investigate savings accounts, savings insurance and private financial clubs. The results showed that 76% of households held savings accounts, 77% savings insurance, and 12% non-institutional assets in private financial clubs. Sender, age, education, job, spouse employment, family type, location, home ownership, number of children, and family income were significant determinants of investment in savings accounts, savings insurance, and private financial clubs. Family income was the most powerful variable.
Keywords
saving; insurance; private financial clubs; ;
Citations & Related Records
Times Cited By KSCI : 3  (Citation Analysis)
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