Health and Financial Risk-Taking Propensity During the COVID-19 Pandemic: Differences by Age and Time

The COVID-19 pandemic has presented a global health threat of unprecedented magnitude and had a devastating impact on the world’s economy. Accordingly, the riskiness of decisions related to health and finance may have increased. However, health and financial threats have differentially affected different age groups. For example, COVID-19 posed a greater health threat to older adults (65+ years) than younger or middle-aged adults, whereas financial threat due to the pandemic affected younger and middle-aged adults more than older adults. This study examined differences in the levels of health and financial risk-taking propensity by time of the pandemic and age group: young (18-39 years), middle-aged (40-64 years), and older adults (65+ years). A sample of 488 individuals residing in the US (245 Woman; Mage = 51.07, SD = 15.99) completed three waves of surveys in March, April, and May 2020. We found that risk-taking propensity for both health and financial decisions decreased over time. The risk-taking propensity was significantly lower in April and May than March, but risk-taking propensity in April and May did not significantly differ. The three age groups were all significantly different than each other in both health and financial risk-taking propensity at all three waves. Younger adults reported higher risk-taking propensity than older and middle-aged adults, and middle-aged adults reported higher risk-taking propensity than older adults. The findings indicate that the pandemic may have influenced all individuals to take less risks in the fields of health and finance regardless of their age.

Understanding the Impacts of Lockdown during COVID-19 Pandemic on Financial Threat and Psychological Response among Sarawak Adults

The Malaysian government announced the lockdown measures following the Coronavirus Disease 2019 (COVID-19) outbreak in mid-March 2020. This action unavoidably led to economic instability and negative psychological effects. The present study examines perceived financial threats and psychological impacts on Sarawak adults during lockdown for the COVID-19 pandemic. Data from 336 respondents were collected from all divisions in Sarawak using an online self-reported questionnaire that included sociodemographic, the Financial Threat Scale (FTS), and the Depression, Anxiety, Stress Scales 21 (DASS-21). Results showed that perceived financial threat was associated with the employment sector, the number of children, and the change in income during the lockdown period. Almost half (47.9%) of the respondents perceived moderate-to-severe financial threat, particularly self-employed persons and those who had reduced income during the lockdown. Negative psychological effects were found to be associated with the employment sector, marital status, number of children, and number of liabilities. In general, people who perceived severe financial threats were significantly associated with severe levels of depression, anxiety, and stress. The study provided some insights into the urgent need to build on strategic plans to mitigate the economic and psychological crisis for the affected communities.

Dental Nurses’ Mental Health in Germany: A Nationwide Survey during the COVID-19 Pandemic

Several studies have found a rise in the rate of psychological discomfort among healthcare personnel since the COVID-19 pandemic outbreak. In this study, we analyzed the relationship between psychological variables of anxiety, depression, stress, avoidance, intrusion and hyperarousal and several factors among German dental nurses. For this poll, dental nurses were asked nationwide to take part via an online-based survey from July 2020 to January 2021. This survey gathered data on demographics, as well as psychological assessments through the Impact of Events Scale-Revised (IES-R) instrument, and the Depression Anxiety Stress Scales (DASS-21). The correlations between DASS-21/IES-R ratings and sociodemographic data were investigated using univariate analyses (Kruskal–Wallis and Mann–Whitney U tests). Single comparisons were performed using the Dunn–Bonferroni post hoc test if a relevant test result was significant followed by multiple linear regressions. Furthermore, 252 dental nurses took part in the study and showed overall normal or mild results of all psychological variables. Having immune-deficiency or chronic diseases, employment at a dental practice, being married, having no children and seeing the pandemic as a financial threat were presented as significant risk factors (p ≤ 0.05) with higher DASS-21 and IES-R scores. These results emphasize the aspects that must be considered to safeguard German dental nurses’ mental wellbeing during the crisis.

Financial distress and suicidal behaviour during COVID-19: Family identification attenuates the negative relationship between COVID-related financial distress and mental Ill-health

COVID-19 provides a ‘perfect storm’ of social and economic suicide risk-factors. Recent research has evidenced an initial impact of the pandemic upon suicide rates, but has yet to understand how elevated financial threat and social isolation may predict suicide ideation/behaviour, or which social factors promote resilience. This study addressed these shortcomings. An online longitudinal survey study ( N = 370) which took place from May to September 2020 showed COVID-related financial distress predicts suicidal thoughts and behaviour via increased depression and loneliness. Family identification attenuates these relationships. Our findings reaffirm the importance of social factors in reducing mental ill-health outcomes of economic crises.

Does coping mediate the effect of financial threat on life satisfaction? A multigroup analysis

The year of 2007 was marked by one of the most severe global financial crises, which led to an increase of psychopathological symptoms that negatively affected life satisfaction. This research analyzed how financial threat was associated with life satisfaction and how coping, as a mediating variable, influenced this relationship. The theoretical model was tested through a sample of 901 Portuguese individuals, averaging 37 years old (SD=12.86). A structural equation modelling (SEM) was used to obtain the results, by using a multiple-group analysis. Overall, the results showed that financial threat is negatively associated with life satisfaction and that proactive coping strategies have a positive association with life satisfaction.The results obtained from coping as a mediating variable were not significant (considering the total sample). However, when we performed a multiple-group analysis, in the group of individuals with lower levels of financial threat, the mediation effect was statistically significant, showing an almost total attenuation of the crisis’s negative effects on life satisfaction. Thusly, we can infer that the mediating role of coping depends on the level of perceived financial threat. Since periods of financial threat have a negative impact on individuals’ psychological health, coping strategies can mitigate this relationship by decreasing the aforementioned negative impact.

Financial threat profiles of industrial enterprises in Poland

Research background: The nature of bankruptcy has been the subject of interest for economic theories, both positive?identifying relationships between bankruptcy and other economic categories ? and normative, shaping the rules for the proper regulation of bankruptcy. In turn, the functioning of an enterprise in conditions of risk, financial threat, and finally a crisis that could lead to bankruptcy, are of interest to management. The interpenetration of these two dimensions provided the motivation for this study, which assumes a bottom-up approach: from individual results to summarised multi-sectional comparisons. Purpose of the article: The purpose of the research was to evaluate the level, directions of change, and structure of the degree of financial threat in industrial enterprises. The period under analysis was 2007?2018 and the whole population of industrial enterprises in Poland (15,999 entities) was examined. The enterprises were small and medium-sized enterprises (SMEs) as well as large enterprises (LEs). The financial analysis covered macro-, meso-, and microeconomic levels. Methods: The analysis was conducted using a comparative approach and financial threat predictions obtained from the original multivariable logit model. Heat maps were used to evaluate the intensity of changes in financial threat. The displacement of objects in structures was studied, ordered, and classified. Four normative standards of threat scenarios were defined and then used to evaluate similarities in the profiles of the structures examined, using the similarity measure. The ranking and its variability were analysed in the assessment of profiles. Findings & value added: As the result of the research, properties were described and profiles were determined for the structures in terms of the degree of threat and its correlation with rate of bankruptcy and creating added value. The originality of the research comes from the use of novel dynamic logit models. The added value is a unique study on the entire population of industrial enterprises in the national economy and a methodology for identifying financial threat profiles and their similarity at subsequent aggregation levels (the micro-, meso-, and macro-levels). This made it possible to derive patterns and regularities for economic policy and guidelines for business management.

Risk of burnout in French entrepreneurs during the COVID-19 crisis

The COVID-19 crisis presents manifest threats for entrepreneurs since their business survival is often directly at stake given the alarming economic downturn. This existential threat, together with their crucial role in the economy, is the reason for the plethora of public financial support schemes being implemented throughout the entire world. However, support schemes for mental health are lacking. We aim to investigate, first, whether burnout levels have increased during the crisis and, second, whether burnout levels during the COVID-19 crisis depend on the threat of becoming ill, having to stay at home due to the lockdown, and/or having to file for bankruptcy due to the economic downturn. We do so using seven data sets of French entrepreneurs with a temporal comparison of averages and two data sets of French entrepreneurs with a cross-sectional analysis of individuals. Our findings show that indeed, the risks of burnout have increased during the pandemic and that the threat of bankruptcy is the dominant threat. As an increasing number of studies in the entrepreneurship literature indicate that entrepreneurs’ mental health influences their activities, as well as the growth and sustainability of their ventures, our study is important and timely in its contribution, as it takes a close look at the perception of burnout in general and more specifically during the COVID-19 pandemic. Plain English Summary The risk of burnout in French entrepreneurs has increased significantly during the COVID-19 pandemic, which calls for not only financial support but also other forms of support. The COVID-19 pandemic presents many threats for entrepreneurs since their business survival is often directly at stake. These threats are not just financial but also related to health, such as the threat of burnout. The findings of our study show that for French entrepreneurs, the threat of burnout increased after the arrival of the COVID-19 pandemic. This finding raises the question whether this outcome is due to the threat to health, the effects of the lockdown, or the threat of bankruptcy. It appears that all three factors play important roles, although the financial threat is the dominant threat. These findings call for the extension of entrepreneurial support systems beyond the financial area by also involving an “entrepreneurship care” aspect, which includes telephone support, webinars, and mental help facilities.