Year: 2024
Type: article
Study design: Observational Study
Abstract: This research aims to 1) analyze the exploratory factor of financial literacy, 2) study the influence of financial literacy, bequest motive, and attitude towards reverse mortgage loan services on the intention to use reverse mortgage loan services of the elderly. The sample group consists of Thai nationals, aged 20 and above, totaling 592 individuals. The research tool used is a questionnaire, and statistical analysis includes percentages, means, standard deviations, exploratory factor analysis, and multiple regression analysis. Results of the research objectives show that 1) The exploratory financial literacy can be analyzed into 5 factors with all 5 factors explaining financial literacy at 58.71% as follows: behavior in debt creation (33.54%); financial attitude, (11.31%); saving behavior, (5.09%); spending behavior, (4.98%); and financial knowledge, (3.79%). 2) Study results for their influence on the intention to use reverse mortgage loan services of the elderly, including debt creation behavior, financial attitude, saving behavior, spending behavior, financial knowledge, bequest motive, and attitude towards loans, which statistically significantly affected the intention to use reverse mortgage loan services by 49.5% at a significance level of 0.05.
Institution: Ubon Ratchathani University
Language: Thai
Subfield: Finance
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W7220100675