Investigation of the Antecedents of Personal Saving Behavior: A Systematic Literature Review Using TCM-ADO Framework

Shilpi Batham, Hitesh Arora () and Vibhuti Gupta ()
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Shilpi Batham: Faculty of Management Studies, University of Delhi, Delhi 110007, India
Hitesh Arora: FORE School of Management, New Delhi 110016, India
Vibhuti Gupta: Faculty of Management Studies, University of Delhi, Delhi 110007, India

JRFM, 2025, vol. 18, issue 10, 1-43

Abstract: This paper reviews the current research landscape on Personal Saving Behavior, focusing on its antecedents and outcomes. Using bibliographic analysis of publication trends—highlighting productive authors, journals, countries, and keywords—the literature is synthesized. A framework-based systematic review is conducted to understand factors influencing saving behavior and its effects, employing the TCM framework to analyze theory, context, and methods across selected studies. Additionally, the ADO framework is used to discuss antecedents, decisions, and outcomes related to personal saving behavior. The review consolidates 112 articles from 2000 to 2025, grouping unique antecedents into nine categories. It also examines how specific antecedents positively or negatively impact saving decisions and outcomes. Finally, using the TCM and ADO frameworks, the study identifies research gaps and discusses future directions, especially from the perspectives of behavioral economics and critical incidents.

Keywords: systematic literature review; bibliographic study; personal saving behavior; TCM (Theory, context, method); ADO framework (antecedents, decisions, outcome); financial literacy (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2025
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