IDEAS home Printed from https://ideas.repec.org/a/rbs/ijbrss/v14y2025i6p121-137.html
   My bibliography  Save this article

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

Author

Listed:
  • Tiberius Phillip Mlowosa

    (The Open University of Tanzania)

  • Gwahula Raphael

    (The Open University of Tanzania)

  • Dionis Ndolage

    (The Open University of Tanzania)

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

Suggested Citation

  • Tiberius Phillip Mlowosa & Gwahula Raphael & Dionis Ndolage, 2025. "Financial retirement planning of government employees in Tanzania: Moderating effect of financial decision behavior," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 14(6), pages 121-137, August.
    • Handle: RePEc:rbs:ijbrss:v:14:y:2025:i:6:p:121-137
    DOI: 10.20525/ijrbs.v14i6.3873
    as

    Download full text from publisher

    File URL: https://ssbfnet.com/ojs/index.php/ijrbs/article/view/3873/2919
    Download Restriction: no
    File URL: https://doi.org/10.20525/ijrbs.v14i6.3873
    Download Restriction: no
    File URL: https://libkey.io/10.20525/ijrbs.v14i6.3873?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rbs:ijbrss:v:14:y:2025:i:6:p:121-137. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Umit Hacioglu (email available below). General contact details of provider: https://edirc.repec.org/data/ssbffea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.