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Socio-Demographic Impacts on the Personal Savings Portfolio Choice: A Decision Tree Approach

Milijana Novovic Buric, Milan Raicevic, Ljiljana Kascelan, Vladimir Kascelan

Source Title: International Journal of Business Analytics (IJBAN)9(1)

ISSN: 2334-4547|EISSN: 2334-4555|EISBN13: 9781683182870|DOI: 10.4018/IJBAN.288511

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MLA

Buric, Milijana Novovic, et al. "Socio-Demographic Impacts on the Personal Savings Portfolio Choice: A Decision Tree Approach." IJBAN vol.9, no.1 2022: pp.1-23. http://doi.org/10.4018/IJBAN.288511

APA

Buric, M. N., Raicevic, M., Kascelan, L., & Kascelan, V. (2022). Socio-Demographic Impacts on the Personal Savings Portfolio Choice: A Decision Tree Approach. International Journal of Business Analytics (IJBAN), 9(1), 1-23. http://doi.org/10.4018/IJBAN.288511

Chicago

Buric, Milijana Novovic, et al. "Socio-Demographic Impacts on the Personal Savings Portfolio Choice: A Decision Tree Approach," International Journal of Business Analytics (IJBAN) 9, no.1: 1-23. http://doi.org/10.4018/IJBAN.288511

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Abstract

Insufficiently developed financial system, poor standard of living and inappropriate education of citizens on the saving products, lead to low level of investment in the financial market of developing countries. In this paper special attention is paid to examining the socio-demographic profile of Montenegrin citizens that invest their funds in some of the offered form of savings, as well as examining main factors that restrict their investment. For this purpose, data collected through the survey of Montenegrin citizens were processed using Decision Tree method. Survey results have shown that there is a low level of savings, as well as that citizens prefer deposits and life insurance products rather than pension plans and debt securities. Also, the results indicate that the main causes of the current state of savings in Montenegro are low standard of living, citizens´ poor awareness and the financial system which causes the insufficiently attractive supply of savings.