Consumer financial vulnerabilities in Malaysia issues, trends and psychological aspects

An Overview of Consumer Financial Vulnerabilities in Malaysia -- Consumer Debt : Friend or Foe? Exploring its Causes and Consequences -- Will Malaysians Retire in Contentment or Misery? Financial Behaviour Issues Approaching Old Age -- Falling Prey to Financial Fraud : Investigating the Causes of Vi...

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Bibliographische Detailangaben
1. Verfasser:	Nurul Shahnaz Ahmad Mahdzan (VerfasserIn)
Weitere Verfasser:	Mohd Edil Abd Sukor (VerfasserIn), Izlin Ismail (VerfasserIn), Mahfuzur Rahman (VerfasserIn)
Format:	UnknownFormat
Sprache:	eng
Veröffentlicht:	London Routledge 2021
Schriftenreihe:	Routledge advances in management and business studies
Schlagworte:	Private Finanzplanung > Private Verschuldung > Lebensversicherung > Altersvorsorge > Wirtschaftspsychologie > Malaysia > Malaysians > Finance, Personal > Psychological aspects > Financial security
Online Zugang:	Inhaltsverzeichnis
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Beschreibung
Zusammenfassung:	An Overview of Consumer Financial Vulnerabilities in Malaysia -- Consumer Debt : Friend or Foe? Exploring its Causes and Consequences -- Will Malaysians Retire in Contentment or Misery? Financial Behaviour Issues Approaching Old Age -- Falling Prey to Financial Fraud : Investigating the Causes of Victimisation -- The Paradox of Life Insurance Protection : Why Are Consumers Underinsured? -- Summary and Strategic Recommendations. "This book examines four aspects of Malaysian consumers' financial vulnerabilities. First, it discusses the issue of over-indebtedness due to excessive reliance on consumer financing. Second, the book investigates why Malaysians are ill-prepared for their golden years in terms of retirement planning and savings. Third, it delves into the problem of financial fraud victimisation among Malaysian consumers. Fourth, the book analyses the reasons why Malaysians are underinsured despite the distinct benefits of life insurance. Drawing on secondary data from government agencies such as Bank Negara Malaysia, Employees Provident Fund, Royal Malaysian Police and the Department of Statistics Malaysia, each chapter presents statistical trends reflecting the four financial vulnerabilities. In-depth analyses of the literature reveal three broad psychological domains (cognition, motivation and disposition) and specific psychological factors (e.g. over-confidence, self-control, social norms and financial literacy) that significantly influence consumers' financial decisions. The four financial vulnerabilities investigated in this book directly addresses the strategic outcomes of the Malaysian National Strategy for Financial Literacy 2019-2023 (MNSFL), a five-year plan to elevate the financial literacy of Malaysians. Finally, the book presents strategic recommendations that are believed to be useful guidelines for relevant policymakers to promote positive financial behaviours and rational attitudes among consumers. It will be a useful resource for policymakers and researchers interested in economic psychology and behavioural finance."
Beschreibung:	Includes bibliographical references and index
Beschreibung:	xx, 203 Seiten Illustrationen
ISBN:	9780367148874 978-0-367-14887-4