Causal Factors Influencing Teachers’ Loan Guarantee Decisions: A Case Study of Basic Education Teachers in Khon Kaen Province

Abstract

This quantitative cross-sectional research investigated causal factors influencing loan guarantee decisions among teachers in basic education institutions in Khon Kaen province. Data was collected by questionnaire from 399 participants chosen by convenience sampling. The research framework was based on the theory of planned behavior, prospect theory, social capital theory, and financial literacy theory. Data was analyzed by descriptive and inferential statistics, including linear and logistic regression, one-way analysis of variance (ANOVA) and moderator effect analysis.
Results were that a moderate number (39.6%) of teachers had overall intentions to guarantee loans (M = 2.415, S.D. = 1.065). Participants classified by financial experience showed significant differences (p < 0.001, = 0.157). The most influential factor was the relationship with loan applicants ( β = 0.24, p < 0.001), followed by financial understanding ( β = 0.19, p < 0.01) and personal financial status ( β = 0.16, p < 0.05). Financial experience groups served as important moderator variables, with each showing different influential factors affecting decisions.
These findings suggesting that loan guarantee decisions are complex and influenced by multidimensional factors may help develop financial literacy programs, decision support systems, and policies to prevent problems arising from loan guarantees among teachers.