scholarly journals The Impact of Behavioral Finance Factors and the Mediating Effect of Investment Behavior on Individual’s Financial Well-being: Empirical Evidence from Pakistan

2021 ◽  
Vol 7 (2) ◽  
Author(s):  
Muhammad Arsalan Ali ◽  
Khalil ur Rehman ◽  
Adnan Maqbool ◽  
Shahid Hussain
Keyword(s):  
Risk Perception ◽  
Financial Literacy ◽  
Financial Education ◽  
Well Being ◽  
Risk Tolerance ◽  
Mediating Effect ◽  
Equation Modeling ◽  
Future Research ◽  
Investment Behavior ◽  
The Impact

Individual financial well-being is recognized as a major concern for the general welfare and social welfare of society. In this context, it is very important to understand how people can ensure good financial well-being. This article aims to explore the effects of financial literacy, risk tolerance, and risk perception on the financial well-being of individuals, with an emphasis on behavioral investment interventions. Quantitative research methods are used to measure the factors that affect financial well-being. A questionnaire was developed on Google Forms to collect data from people who have bank accounts. The sample of 318 Pakistanis supports the proposed hypothesis. Structural equation modeling (SEM) was used to evaluate the results. The results show that risk tolerance, risk perception and financial literacy influence people's investment behavior and ultimately their financial well-being. Individual financial behavior needs to be improved. In this context, there is an urgent need for financial education programs in the education system and centers of employment, behavioral development and financial literacy. Future research on this topic could benefit from collecting longitudinal data which could provide more relevant information for Pakistanis seeking to achieve better financial well-being. All measures used are reported separately and individually, measuring the risk that respondents will misinterpret questions and even interpret their behavior.

Evaluating the effects of sociodemographic characteristics and financial education on saving behavior

2020 ◽  
Vol 40 (11/12) ◽  
pp. 1423-1438 ◽  
Author(s):  
Mouna Amari ◽  
Bassem Salhi ◽  
Anis Jarboui
Keyword(s):  
Risk Aversion ◽  
Financial Literacy ◽  
Financial Education ◽  
Well Being ◽  
Mediating Effect ◽  
Content Type ◽  
Saving Behavior ◽  
Literacy Level ◽  
Education Training ◽  
The Impact

PurposeThe objective of this study is to explore the effects of financial literacy level and risk aversion on the saving behavior. The literature review showed dialectical results. Therefore, this study attempts to clarify the debatable of these results by studying the mediating effect of risk aversion on the relationships between demographics determinants and saving behavior moderated by the effect of the financial literacy level.Design/methodology/approachThe data were collected from the University of Normandy; the study sample included 516 respondents representing different segments of French households. The structural equation analysis was utilized to control the impact of financial literacy as a moderate variable and the risk aversion as a mediator variable among the link between sociodemographic factors and saving behavior.FindingsThe results demonstrated that there were significant effects of demographics factors on risk aversion. Moreover, financial literacy moderates the relationships between risk aversion and saving behavior.Research limitations/implicationsThe major limitation of this research is the small size of the study sample. This paper is restricted to French households. Future financial education training should cover the European context.Practical implicationsThis study provides further evidence that financial literacy should be considered an important factor for improving household well-being. The paper encourages governments and financial institutions to create a national financial education program.Originality/valueThis paper is the first attempt to employ a sample of low-income households after financial education training in the French context.

City Newcomers’ Adaptation to Urban Life, Personal Well-Being, and Social Support

2018 ◽  
Vol 46 (7) ◽  
pp. 1201-1214
Author(s):  
Tianqiong Xia ◽  
Yifu Wang ◽  
Qiyi Lin
Keyword(s):  
Social Support ◽  
Structural Equation ◽  
Well Being ◽  
Urban Life ◽  
Mediating Effect ◽  
Equation Modeling ◽  
Future Research ◽  
Mediation Effects ◽  
Social Support Scale ◽  
The Relationship

We evaluated the level of adaptation of city newcomers (CNs) to urban life in China, and their personal well-being, and explored the mediating effect of social support on the relationship between these variables. We used a 2-stage sampling method to recruit 314 participants who completed the Adaptation to Urban Life Scale, Social Support Scale, and Personal Well-Being Scale. Structural equation modeling was used to test full and partial mediation effects. Findings showed that there was a significant correlation between the extent of CNs’ positive adaptation to urban life and their personal well-being. In addition, social support was beneficial for CNs’ personal well-being, and partially mediated the relationship between CNs’ adaptation to urban life and personal well-being. In addition, the adaptation to urban life dimensions of employment prospects, living conditions, and urban environment predicted CNs’ personal well-being. Implications of the findings are discussed, along with directions for future research.

Subjective financial knowledge, prudent behaviour and income

2019 ◽  
Vol 37 (4) ◽  
pp. 934-950 ◽  
Author(s):  
Leonore Riitsalu ◽  
Rein Murakas
Keyword(s):  
Financial Literacy ◽  
Financial Education ◽  
Well Being ◽  
Financial Knowledge ◽  
Future Research ◽  
Objective Knowledge ◽  
Content Type ◽  
Subjective Knowledge ◽  
Subjective Financial Knowledge ◽  
Behaviour Score

Purpose The purpose of this paper is to study how subjective and objective knowledge of finance, behaviour in managing personal finances and socio-economic status affect financial well-being. Design/methodology/approach The financial well-being score is constructed in quantitative financial literacy survey data from Estonia as the arithmetic mean of four statements on a five-point scale. Four hypotheses are tested in multiple regression analysis. Findings Subjective knowledge has a stronger relation with financial well-being than objective knowledge. Financial behaviour score and income level correlate with financial well-being. Research limitations/implications The paper contributes to literature on financial literacy, subjective financial knowledge and financial well-being. In future research, psychological factors and future orientated financial well-being should be included, and their relationship to subjective well-being could be analysed further. Practical implications The results highlight the importance of subjective knowledge and sound behaviour for improving financial well-being. Providers of financial services should address these more in the design of their services and communication. Social implications Policymakers developing national strategies for financial education need to address subjective financial knowledge for increasing financial well-being in society. Originality/value Knowledge, behaviour and subjective knowledge have not been used simultaneously in the analysis of financial well-being in Europe before.

scholarly journals Corporate Environmental Strategy and Voluntary Environmental Behavior—Mediating Effect of Psychological Green Climate

2019 ◽  
Vol 11 (11) ◽  
pp. 3123 ◽  
Author(s):  
Anupam Kumar Das ◽  
Shetu Ranjan Biswas ◽  
Munshi Muhammad Abdul Kader Jilani ◽  
Md. Aftab Uddin
Keyword(s):  
Social Identity Theory ◽  
Structural Equation ◽  
Environmental Behavior ◽  
Mediating Effect ◽  
Mediation Effect ◽  
Equation Modeling ◽  
Future Research ◽  
Environmental Strategy ◽  
Research Problems ◽  
The Impact

Given the growing intent to prevent decay in environmental management, the present study seeks to unearth the impact of corporate environmental strategy on employees’ voluntary environmental behavior by regulating or facilitating their perceived psychological green climate. Research problems and research questions are built on the essence of multiple theories—goal-setting theory, social identity theory, and social learning theory for grounding the research model. A total of 294 replies were collected through a self-administered survey from diverse industrial panoramas. We used structural equation modeling (SEM) analytics via AMOS-version 20.0 for measuring the hypothesized results. The study revealed that the corporate environmental strategy is displaying an insignificant direct influence on voluntary environmental behavior. However, the corporate environmental strategy indirectly influences, via the mediation effect, voluntary environmental behavior of employees through their psychological green climate perception. Directions for future research are recommended based on insights from the implications and limitations of the study.

Promoting safety participation through diversity and inclusion climates

2016 ◽  
Vol 9 (3) ◽  
pp. 308-327 ◽  
Author(s):  
Anna Paolillo ◽  
Silvia A. Silva ◽  
Margherita Pasini
Keyword(s):  
Structural Equation ◽  
Well Being ◽  
Mediating Effect ◽  
Equation Modeling ◽  
Main Concern ◽  
Diversity Climate ◽  
Content Type ◽  
Diversity And Inclusion ◽  
The Impact ◽  
The Relationship

Purpose The purpose of this paper is to investigate the impact of diversity climate and inclusion climate on safety participation behaviors through the mediating effect of the motivation to actively promote safety at work. Design/methodology/approach Participants were 491 workers employed in four Italian metal-mechanical companies. They completed a paper questionnaire containing measures of psychological diversity climate, psychological inclusion climate, safety motivation participation and safety participation behaviors. Data were analyzed with structural equation modeling. Findings Results showed that safety participation motivation fully mediates the relationship between diversity climate and safety participation behaviors, whereas it partially mediates the relationship between climate for inclusion and safety participation behaviors. Practical implications The present findings can help managers to motivate employees in pursuing safety goals independently of compensation or obligation by creating an organization in which the main concern is caring for each other’s well-being. Originality/value This is the first study which has empirically tested the relationships between diversity climate, inclusion climate and safety behaviors. It has extended previous research which simply tested the effects of objective types of diversity on safety performance.

Financial education and financial satisfaction

2017 ◽  
Vol 35 (5) ◽  
pp. 805-817 ◽  
Author(s):  
Jing Jian Xiao ◽  
Nilton Porto
Keyword(s):  
Financial Literacy ◽  
Financial Education ◽  
Well Being ◽  
Financial Behavior ◽  
Future Research ◽  
Financial Satisfaction ◽  
Financial Capability ◽  
Data Set ◽  
Content Type ◽  
Mediating Factors

Purpose The purpose of this paper is to investigate roles of financial literacy, financial behavior, and financial capability as mediating factors between financial education and financial satisfaction. Design/methodology/approach Data are from the 2012 National Financial Capability Study, a large national data set with detailed information on financial satisfaction, education, literacy, behavior, capability, and related variables. Mediation analyses are used to answer research questions. Findings Financial education may affect financial satisfaction, a subjective measure of financial well-being, through financial literacy, financial behavior, and financial capability variables. Results show that subjective financial literacy, desirable financial behavior and a financial capability index (a sum of Z-scores of objective financial literacy, subjective financial literacy, desirable financial behavior, and perceived financial capability) are strong mediators between financial education and financial satisfaction. Research limitations/implications The study has used cross sectional data that can only document associations between financial education and satisfaction and the mediators between them. Future research could use relevant longitudinal data to verify multiple benefits of financial education. Practical implications The findings have implications for financial service professionals to take advantages of multiple benefits of financial education in content acquisition, confidence in knowledge and ability, and action taking when they communicate with their clients. Social implications Policy makers on consumer financial education may use the information to advocate and promote effective education programs to improve consumer financial well-being. Originality/value This study is the first of this kind to examine the association between financial education and financial satisfaction and several financial capability variables as mediating factors.

scholarly journals Islamic Faith-Based Content and Religious Social-media Motives

2021 ◽  
Vol 9 (1) ◽  
pp. 19
Author(s):  
Khairil Anwar ◽  
Abdul Mujib
Keyword(s):  
Social Media ◽  
Structural Equation ◽  
Quantitative Research ◽  
Well Being ◽  
Equation Modeling ◽  
Future Research ◽  
Media Usage ◽  
Faith Based ◽  
Islamic Faith ◽  
The Impact

The predominance and use of social media for sacred and secular purposes have made it imperative to understand the role of social media in people’s religious motives and life. Therefore, grounded in gratification theory, the current study examines the impact of social media usage intensity, social media usage frequency, and religious appreciation in developing and strengthening different motives, i.e., ministering, spiritual enlightenment, religious information, relaxing entertainment, and well-being, among the followers of social media pages/accounts/sites for faith-based content. Following a quantitative research methodology, data were collected from the 562 followers of social media, i.e., Facebook, YouTube, Instagram, and Twitter. Data were analyzed using Structural Equation Modeling (SEM) in SmartPLS3 software. The results revealed that social media usage intensity and frequency positively influenced all five motives of individuals with a higher impact on individuals’ motive of gaining religious information followed by spiritual enlightenment and well-being. Likewise, religious appreciation positively impacted all five motives of individuals to assess the faith-based content on social media pages/accounts/sites. However, the intensity of the impact varied from well-being, relaxing entertainment, ministering, religious information to spiritual enlightenment from the highest to lowest level, respectively. Moreover, the unique concept, theoretical and practical implications, and future research insights of the study are major advances to literature in the field.

scholarly journals Personal Growth Initiative and Subjective Well-being: The Mediation Role of Meaning in Life [Iniciativa de crecimiento personal y bienestar subjetivo: el rol mediador del significado en la vida]

2018 ◽  
Vol 15 (2) ◽  
pp. 39
Author(s):  
Clarissa Pinto Pizarro Freitas ◽  
Elif Merve Cankaya ◽  
Bruno Figueiredo Damásio ◽  
Emily Jean Haddad ◽  
Helder Hiroki Kamei ◽  
...  
Keyword(s):  
Personal Growth ◽  
Meaning In Life ◽  
Well Being ◽  
Mediating Effect ◽  
Equation Modeling ◽  
Future Research ◽  
Subjective Well Being ◽  
Personal Growth Initiative ◽  
Growth Initiative ◽  
The Relationship

This study investigated the mediating effect of meaning in life on the relationship between personal growth initiative and subjective well-being. The sample was composed of a total of 1,899 Brazilian participants who voluntarily took part in this study by completing the study survey. Based on the results of the structural equation modeling, the relationship between personal growth initiative and subjective well-being was found to be partially mediated by the presence of meaning in life. Age was found to influence the mediation, as older participants reported greater PGI and MIL. Limitations of the study, as well as directions for future research are discussed.

HRM reforms and job-related well-being of academics

2019 ◽  
Vol 49 (2) ◽  
pp. 597-619
Author(s):  
Jie Xia ◽  
Mingqiong Mike Zhang ◽  
Jiuhua Cherrie Zhu ◽  
Di Fan ◽  
Ramanie Samaratunge
Keyword(s):  
Structural Equation ◽  
Time Lag ◽  
Well Being ◽  
Mediating Effect ◽  
Equation Modeling ◽  
Chinese Universities ◽  
Content Type ◽  
Analytical Technique ◽  
Hrm Practices ◽  
The Impact

Purpose The purpose of this paper is to examine the influence of human resource management (HRM) reforms on job-related well-being of academics in Chinese universities. It also tests the mediating effect of work intensification (WI) and affective commitment (AC), and the moderating effect of perceived organizational justice (OJ) on the HRM‒well-being relationship to understand the influence mechanisms and boundary conditions. Design/methodology/approach A questionnaire survey was conducted in 25 Chinese universities, obtaining 638 usable questionnaires. Structural equation modeling (SEM) was used as the analytical technique to examine the model fit and test hypotheses. Findings The findings reveal that the relationship of HRM and well-being is neither direct nor unconditional, and a win‒win scenario for both management and employee well-being is possible when organizations pursue HRM innovations. Research limitations/implications The limitations of this study are that data were collected at once and at a defined time, with no time lag being involved. In addition, all variables were self-reported. Practical implications Commitment-oriented HRM practices can create a win‒win scenario; when control-oriented HRM practices are necessary, managers should ensure OJ to offset their negative influence on employees. Originality/value This study is among the first to examine the impact of HRM on employee well-being in the context of Chinese higher education, contributing to the limited studies on HRM in Chinese public sector and the on-going debate on the nature of HRM in China.

scholarly journals Social Isolation, Loneliness and Well-Being: The Impact of WeChat Use Intensity During the COVID-19 Pandemic in China

2021 ◽  
Vol 12 ◽  
Author(s):  
Jianfeng Li ◽  
Luyang Zhou ◽  
Beatrice Van Der Heijden ◽  
Shengxiao Li ◽  
Hong Tao ◽  
...  
Keyword(s):  
Life Satisfaction ◽  
Social Interactions ◽  
Social Isolation ◽  
Empirical Work ◽  
Well Being ◽  
Equation Modeling ◽  
Future Research ◽  
Loop Model ◽  
The Impact ◽  
The Relationship

This study is aimed to examine the impact of WeChat use intensity on social isolation, loneliness, and well-being during the lockdown period of the COVID-19 pandemic. Drawing on the regulatory loop model of loneliness, the notions of Internet Paradox, the Time Displacement hypothesis and previous literature on WeChat use intensity, we propose that lockdown loneliness (partially) mediates the relationship between lockdown WeChat use intensity and well-being (i.e., lockdown stress and lockdown life satisfaction). Moreover, we assume that lockdown WeChat use intensity moderates the relationship between lockdown social isolation and well-being (i.e., lockdown stress and lockdown life satisfaction) in both a direct and in an indirect way, that is through lockdown loneliness. The results from our Structural Equation Modeling analyses, using a sample of 1,805 Chinese respondents, indicate that all of our research hypotheses are confirmed. From this empirical work, it becomes clear that online social interactions, which are believed by many people to be able to compensate for the lack of offline social interactions during the COVID-19 lockdown period, in fact are endangering their mental health and life satisfaction instead. This article concludes with theoretical and practical implications of our study, followed by its limitations and recommendations for future research.

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