Role of financial knowledge, financial socialisation and financial risk attitude in financial satisfaction of Indian individuals

2019 ◽  
Vol 18 (1) ◽  
pp. 104
Author(s):  
Tanuj Nandan ◽  
Kumar Saurabh
Keyword(s):  
Financial Risk ◽  
Risk Attitude ◽  
Financial Knowledge ◽  
Financial Satisfaction

scholarly journals The effect of financial knowledge on firm performance

2022 ◽  
Vol 10 (8) ◽  
pp. 236-249
Author(s):  
Cicik Retno Wati ◽  
Sumiati Sumiati ◽  
Andarwati Andarwati
Keyword(s):  
Firm Performance ◽  
Financial Risk ◽  
Risk Attitude ◽  
Partial Least Square ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Access To Finance ◽  
Relationship Of ◽  
The Relationship

This research aims to know the effect of financial knowledge on firm performance; the role of financial behavior and access to finance as mediation and the role of financial risk attitude as moderation. The object of this research is the owner of small-medium enterprises, sector food and beverage in Malang. Data collection was carried out using a questionnaire of 150 respondents. Data analysis of this research uses partial least square (PLS). The finding indicates that financial knowledge has a positive and significant effect on firm performance; financial behavior mediates the relationship of financial knowledge dan firm performance; while access to finance doesn’t mediate the relationship of financial knowledge with firm performance. This research also found that financial risk attitude weakens the relationship of financial knowledge with financial behavior.

Role of financial risk attitude and financial behavior as mediators in financial satisfaction

2018 ◽  
Vol 7 (2) ◽  
pp. 207-224 ◽  
Author(s):  
Kumar Saurabh ◽  
Tanuj Nandan
Keyword(s):  
Financial Risk ◽  
Uttar Pradesh ◽  
Risk Attitude ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Survey Method ◽  
Financial Satisfaction ◽  
Content Type ◽  
Financial Decisions ◽  
Tier Ii

Purpose The purpose of this paper is to examine the relationships between financial knowledge, socialization and financial satisfaction with financial risk attitude and financial behavior as a mediator after demonetization and introduction of GST. Design/methodology/approach The sample consisted responses of 286 individuals from the city of Allahabad, Uttar Pradesh, India and making financial decisions for the household for at least last two years. The data were analyzed using exploratory factor analysis and mediation regression analysis. Findings All sub-scales used to measure constructs had satisfactory reliabilities and internal consistencies. It was found that financial risk attitude and financial behavior both mediate the relationship between financial socialization and financial satisfaction as well as between financial knowledge and financial satisfaction. Research limitations/implications This research is based upon survey method and voluntary participation. Hence one can question generalization of findings to larger samples. Moreover, the study is limited to a restricted geographical region which could affect the generalization of findings. Practical implications Results provide insights into the antecedents of financial satisfaction of individuals from tier II city of India. Financial planners may utilize this study for enhancement of financial satisfaction of their clients and hence retention of the same. Originality/value A majority of researchers use survey without evaluation validity of instruments in the selected context and sample. This research contributed to the literature and practice by testing validation of constructs of financial satisfaction in India.

Antecedents to responsible financial management behavior among young adults: moderating role of financial risk tolerance

2020 ◽  
Vol 38 (5) ◽  
pp. 1177-1194 ◽  
Author(s):  
Dhananjay Bapat
Keyword(s):  
Young Adults ◽  
Financial Management ◽  
Financial Risk ◽  
Risk Tolerance ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Management Behavior ◽  
Content Type ◽  
Financial Risk Tolerance

PurposeThe study examines the antecedents of responsible financial management behavior among young adults in India and explores the role of financial risk tolerance as a moderating variable.Design/methodology/approachThe sample includes young adults in the age group of 18–35. The analysis uses a two-step approach via standard partial least squares structural modeling (PLS-SEM) and ordinary least square (OLS) regression.FindingsStructural modeling results show that financial attitude fully mediates the relationship between financial knowledge and responsible financial management behavior, and locus of control influences responsible financial management behavior. Financial risk tolerance moderates the relationship. Among demographic factors, age and occupation influence responsible financial management behavior.Research limitations/implicationsThe financial knowledge used in the survey are based on self-reported responses. The future study can include participants from both developed and emerging countries to assess similarities and differences.Practical implicationsDespite the growing focus on improving financial literacy, there are growing concerns regarding responsible financial behavior. Since financial services is related to fiduciary responsibility, managers and policymakers need to ensure that financial knowledge results in improving financial attitude, which further leads to responsible financial behavior.Originality/valueThe present study from an emerging country will add value to the literature.

scholarly journals Financial Risk Tolerance: The Case of Older Chinese in Klang Valley, Malaysia 2020

2021 ◽  
Vol 12 (2) ◽  
pp. 1
Author(s):  
Shyue Chuan Chong ◽  
Han Kok Heng ◽  
Siok Jin Lim ◽  
Vejaratnam Navaratnam ◽  
Andaeus Zun Khan Neoh
Keyword(s):  
Financial Management ◽  
Financial Risk ◽  
Risk Tolerance ◽  
Financial Knowledge ◽  
Financial Satisfaction ◽  
Retirement Plans ◽  
Short Period ◽  
Retirement Funds ◽  
The Impact ◽  
Malaysian Chinese

Ageing demographic profiles pose challenges to the nation as policymakers are concerned about the health, public pension and the financial management of the society. In Malaysia, retirees are mostly dependent on savings from the Employees Provident Fund (EPF), a government agency that manages savings and retirement plans for private-sector employees and non-pensionable public servants. Many Malaysians aged past the targeted retirement age of 60 years old chose to remain in the workforce, mainly due to insufficient retirement funds or has depleted their retirement funds in a short period. To ensure sufficient funds to attain an ideal retirement life, Malaysians resort to invest or seek business opportunities. Thus, this paper studies the impact of demographic characteristics (sex, age, and educational level) and finance characteristics (financial knowledge and financial satisfaction) on the risk tolerance among older Malaysian Chinese in the year 2020. The results of this study showed that the older Malaysian Chinese risk tolerance is highly influenced by sex, age, education level, financial knowledge and financial satisfaction.

scholarly journals Influence of Life Events on the Financial Satisfaction of Individuals

2019 ◽  
Vol 15 (1) ◽  
pp. 123-137
Author(s):  
Waqas Ali ◽  
Keyword(s):  
Life Events ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Financial Satisfaction ◽  
Financial Socialization ◽  
Life Event ◽  
Mediating Role ◽  
Confirmatory Factor ◽  
Positive Effect

This  study  aims  to  determine  the  effect  of  financial  knowledge  and  financial  socialization  on the financial satisfaction of the individuals when unexpected life events happen and to examine the mediating role of the financial stressor and financial behavior between them. The data collected from 243 respondents who had experienced any unexpected hospitality in the state of Azad Jammu and Kashmir. Grab sampling method utilized for data collection. Confirmatory factor analysis (CFA) and Structural Equation Modeling (SEM) utilized for data analysis. Results of study reveal that: 1) financial knowledge and financial socialization have positive influence on financial satisfaction; 2) financial knowledge has positive effect on financial satisfaction with the mediating role of the financial stressor and financial behavior when an unexpected life event happens; and 3) financial socialization has positive effect on financial satisfaction with the mediating role of the financial stressor and financial behavior when an unexpected life event happened. This study provides clear insight toward the financial satisfaction of the individuals while confronting the unexpected life events. Practitioners and financial planners use this article for increasing the financial satisfaction of their customers. There is a plethora of researches conducted in different perspective except life events of individuals. This study utilized confirmatory factor analysis, which is necessary when research carried out from a different perspective.

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