FINANCIAL LITERACY, FINANCIAL INCLUSION, AND FINANCIAL MANAGEMENT AS DETERMINANTS OF SAVING BEHAVIOR AMONG EMPLOYEES OF PT CHAROEN POKPHAND INDONESIA’S DUCK DIVISION
Manajemen Keuangan
DOI:
https://doi.org/10.70248/jmie.v4i1.4874Abstract
Saving behavior is an important aspect of maintaining employees’ financial resilience in meeting future financial needs. This study aims to analyze the effects of financial literacy, financial inclusion, and financial management on the saving behavior of employees at PT Charoen Pokphand Indonesia’s Duck Division in Cikande, Indonesia. This study contributes to the financial behavior literature by examining these three factors in the context of poultry industry employees, a setting that requires further empirical investigation. A quantitative approach with an explanatory research design was employed. Data were collected through questionnaires using a five-point Likert scale from 100 respondents selected through purposive sampling from a population of 250 employees. The data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 3.0. The results indicate that financial literacy has a positive and significant effect on saving behavior (coefficient = 0.502; T-statistic = 3.861; p < 0.001). Financial inclusion has a negative and significant effect (coefficient = −0.257; T-statistic = 2.413; p = 0.016), while financial management has a positive and significant effect (coefficient = 0.514; T-statistic = 4.213; p < 0.001). The R² value of 0.639 indicates that the model explains 63.9% of the variance in saving behavior. These findings highlight the importance of strengthening employees’ financial literacy and personal budgeting skills. Companies can use these findings to develop financial education and planning programs tailored to employees’ needs while evaluating the relationship between access to financial services and saving decisions.
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