Who has a cushion? The interactive effect of social exclusion and gender on fixed savings

Abstract

AbstractSaving behavior affects both personal welfare and national economies. This study examined the effect of social exclusion, a breakdown of social relationship, on fixed savings, which is especially pertinent to Asians. By considering the cushion hypothesis theory and the gender disparity in social connectedness, this study proposes that men and women display different fixed savings behavior in response to social exclusion. In particular, social exclusion (vs. acceptance) decreases men's fixed savings intention, as isolation stimulates them to expect less social connectedness, which means it is hard to get social support and, thus, heightens their need for resource liquidity. In contrast, social exclusion (vs. acceptance) does not affect women's fixed savings intention because women do not anticipate less social connectedness due to social exclusion. Three experiments provide convergent support for this proposition and verify the theoretical process of the expected social connectedness, coupled with the need for resource liquidity. The alternative explanations for self‐efficacy, power, control, and mood are also discussed.