DIMENSIONS OF FINANCIAL WELLBEING: AN ALTERNATIVE SCALE FOR MICROFINANCE BORROWERS IN DIGOS CITY, PHILIPPINES

European Journal of Economic and Financial Research Pub Date : 2022-04-05 DOI:10.46827/ejefr.v6i1.1245

Freddy C. Navarro, J. V. Murcia

{"title":"DIMENSIONS OF FINANCIAL WELLBEING: AN ALTERNATIVE SCALE FOR MICROFINANCE BORROWERS IN DIGOS CITY, PHILIPPINES","authors":"Freddy C. Navarro, J. V. Murcia","doi":"10.46827/ejefr.v6i1.1245","DOIUrl":null,"url":null,"abstract":"The aim of this study is to establish the dimensions of financial wellbeing of microfinance borrowers in Digos City. A sequential-exploratory mixed methods research design was used as the approach of the study, and data were gathered from N=10 key informant interviews which then became the basis in the development of the preliminary 30-item financial wellbeing scale. A total of N=377 lenders of microfinance institutions in Digos City participated in the cross-sectional online and face-to-face survey. Descriptive statistics and multivariate analysis via exploratory factor analysis were used as statistical tools, all carried in IBM-SPSS 20. Results revealed that 26 of the 28 items were found to have passed the +0.40-coefficient requirement. These 26 items clustered in five extracted dimensions. Thematic analysis of the item loadings revealed three valid dimensions – freedom from debt, investment and financial discipline, and financial resilience – all with acceptable Cronbach’s α and McDonald’s ω values. Implications of the utility of this alternative scale of financial wellbeing are discussed. JEL: D01; D31 Article visualizations:<img src=\"/-counters-/edu_01/0935/a.php\" alt=\"Hit counter\" />","PeriodicalId":376871,"journal":{"name":"European Journal of Economic and Financial Research","volume":"91 1","pages":"0"},"PeriodicalIF":0.0000,"publicationDate":"2022-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"European Journal of Economic and Financial Research","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.46827/ejefr.v6i1.1245","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}

引用次数: 0

Abstract

The aim of this study is to establish the dimensions of financial wellbeing of microfinance borrowers in Digos City. A sequential-exploratory mixed methods research design was used as the approach of the study, and data were gathered from N=10 key informant interviews which then became the basis in the development of the preliminary 30-item financial wellbeing scale. A total of N=377 lenders of microfinance institutions in Digos City participated in the cross-sectional online and face-to-face survey. Descriptive statistics and multivariate analysis via exploratory factor analysis were used as statistical tools, all carried in IBM-SPSS 20. Results revealed that 26 of the 28 items were found to have passed the +0.40-coefficient requirement. These 26 items clustered in five extracted dimensions. Thematic analysis of the item loadings revealed three valid dimensions – freedom from debt, investment and financial discipline, and financial resilience – all with acceptable Cronbach’s α and McDonald’s ω values. Implications of the utility of this alternative scale of financial wellbeing are discussed.

JEL: D01; D31

Article visualizations:

Abstract Image

查看原文本刊更多论文

财务健康的维度:菲律宾迪戈斯市小额信贷借款人的另一种规模

本研究的目的是建立在迪戈斯市小额信贷借款人的财务福利的维度。采用顺序-探索性混合方法研究设计作为研究方法，并从N=10个关键信息提供者访谈中收集数据，这些数据随后成为初步30项财务健康量表开发的基础。Digos市共有N=377名小额信贷机构的贷款人参与了横断面在线和面对面调查。采用描述性统计和探索性因子分析的多变量分析作为统计工具，均在IBM-SPSS 20中进行。结果显示，28个项目中有26个项目通过了+0.40的系数要求。这26个项目聚集在五个提取的维度中。题目负荷的专题分析揭示了三个有效的维度——免于债务、投资和财务纪律以及财务弹性——它们都具有可接受的Cronbach 's α和McDonald 's ω值。讨论了这一替代性金融福利尺度的效用含义。凝胶:D01;D31文章可视化:

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

European Journal of Economic and Financial Research

自引率

0.00%

发文量