The Savings Finance Sector and Public Awareness Analysis

N. Melis Esenyel İçen () and Murat İstekli ()
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N. Melis Esenyel İçen: İstanbul University
Murat İstekli: HEFIAD

Chapter 4 in The Demand for Alternative Finance, 2025, pp 67-92 from Springer

Abstract: Abstract This chapter examines public awareness of interest-free financial products in Turkey, focusing on demographic influences such as gender, age, education, and income. Utilizing the Theory of Reasoned Action (TRA), a field survey was conducted to assess knowledge levels and behavioral intentions toward alternative financing models. Data from 572 participants were analyzed via Chi-square tests and cross tabulations in R (programming language) and SPSS (Statistical Package for the Social Sciences). Results revealed moderate awareness among 58% of respondents, with 22% exhibiting limited understanding. Gender, age, and education significantly correlated with awareness, while income showed no statistical impact. Notably, younger, educated demographics and males demonstrated higher engagement with interest-free options. The findings underscore the need for targeted strategies to enhance public understanding, particularly through education and outreach, to foster sectoral growth and adoption of savings finance models.

Keywords: Public Awareness; Theory of Reasoned Action (TRA); Interest-Free Finance; Savings Finance; Financial Behavior; Financial Literacy; Alternative Finance; Consumer Decision-Making (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-032-01765-9_4

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DOI: 10.1007/978-3-032-01765-9_4

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