An Empirical Analysis on Individuals’ Deposit Withdrawal Behaviors Using Data Collected through a Web-Based Survey


  • Toshihiko TAKEMURA Kansai University
  • Takashi KOZU Bank of Japan


Depositor behaviors, psychological factor, communication, logistic regression analysis, Web-based survey


The purpose of this paper is to investigate relationships between individual depositor behaviors, as to whether they will withdraw all of their deposits, and factors behind them such as the degree of trust in information sources, frequency of communication, individuals' transaction with banks, and individuals’ attributes. By doing so, we suggest possible countermeasures whereby depositors will not excessively withdraw their deposits after receiving uncertain information on the financial environment. In this paper, we analyze the relationships by using data collected through a Web-based survey. The results were as follows: First, individuals who trust in information sources such as weekly/monthly magazines, the Internet, and conversations with people at workplace would be more likely to withdraw their deposits. Second, increases in phone calls with friends and in communication frequency at neighborhood and workplaces also make depositors to withdraw funds. Third, their tendency to withdraw deposits is affected by the individuals’ attributes such as gender and education. As the recognition of the deposit insurance scheme among people seems to affect their behavior according to our analysis, we suggest that it is better that authorities advertise the function of deposit insurance schemes to prevent depositors from getting into a panic situation like bank run.