Financial retirement planning of government employees in Tanzania: Moderating effect of financial decision behavior

Tiberius Phillip Mlowosa, Gwahula Raphael and Dionis Ndolage
Additional contact information
Tiberius Phillip Mlowosa: The Open University of Tanzania
Gwahula Raphael: The Open University of Tanzania
Dionis Ndolage: The Open University of Tanzania

International Journal of Research in Business and Social Science (2147-4478), 2025, vol. 14, issue 6, 121-137

Abstract: The study examined financial retirement planning of government employees in Tanzania: Moderating effect of financial decision behavior. The study applied a cross-sectional survey strategy, positivist paradigm and deductive approach. The study collected quantitative data through questionnaire from government employees working in different ministries within Dodoma region in Tanzania. The study examined whether the moderator moderates the relationship between independent variables (computation capability, financial knowledge, financial education and risk attitude towards financial products) and dependent variable (retirement planning). Data analysis was through Smart PLS-SEM path modelling. The study findings were that financial decision behavior had statistically significant positive moderating effect (p=0.013) on retirement planning. Moderating effect of financial decision behavior on the relationship between risk altitude towards financial products and retirement planning found to be a theoretical contribution of this study as it supports behavioral finance advocates who asserts that the theory of expected utility is an incomplete model since it lacks individual behavioral aspects. This study has incorporating a moderating variable financial decision behavior borrowed from the theory of planned behavior, which has indicated a significant moderating effect that has widened the explanatory power of the theory. This study offers pertinent insights for policy makers concerns on reviewing policy guidelines by government regulators and professional bodies, to advocate for employee’s savings and investment behavior, employees access to a range of financial products, regular training on financial products available in the financial market for better investment decision. Lastly, practitioners and academia can use the results of this study for future references. Key Words:African's perception, Attitudes, Myths, Pandemic, Vaccine hesitancy

Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://ssbfnet.com/ojs/index.php/ijrbs/article/view/3873/2919 (application/pdf)
https://doi.org/10.20525/ijrbs.v14i6.3873 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:rbs:ijbrss:v:14:y:2025:i:6:p:121-137

Access Statistics for this article

International Journal of Research in Business and Social Science (2147-4478) is currently edited by Prof.Dr.Umit Hacioglu

More articles in International Journal of Research in Business and Social Science (2147-4478) from Center for the Strategic Studies in Business and Finance Editorial Office,Baris Mah. Enver Adakan Cd. No: 5/8, Beylikduzu, Istanbul, Turkey. Contact information at EDIRC.
Bibliographic data for series maintained by Umit Hacioglu ().