What do individuals know, feel and do from a financial perspective? An empirical study on financial satisfaction

IF 1.9 Q2 ECONOMICS

INTERNATIONAL JOURNAL OF SOCIAL ECONOMICS Pub Date : 2023-10-30 DOI:10.1108/ijse-03-2023-0239

Jitender Kumar, Manju Rani, Garima Rani, Vinki Rani

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引用次数: 0

Abstract

Purpose Financial satisfaction is a potential ambition of individuals' lives that requires well-strategized economic behaviors. The authors examine the impact of various factors on the financial behavior (FB) and financial satisfaction (FIS) of individuals in India's National Capital Region (NCR). Design/methodology/approach Through a literature review, a survey questionnaire was formulated using existing scales on FIS. For more in-depth insights, data are obtained from 427 respondents in the NCR region using self-administered questionnaires. This article used “partial least square structural equation modeling (PLS-SEM)” to inspect the hypothesized model of individuals' FIS. Findings According to the study results, financial attitude (FA), financial self-efficacy (FSE), financial knowledge (FK) and demographic characteristics (DC) significantly influence FB. Conversely, financial stress (FS) negatively impacts FB. It also highlights that FA, FSE, FK and FB all significantly impact FIS. Nevertheless, FS and DC insignificantly influence FIS. Originality/value To the best knowledge of the authors, this article is an initial attempt to offer a novel perspective of individuals' FB and FIS in India. It would help the government and stakeholders by providing various pioneering economic schemes and making policies that help increase individuals' FIS. Peer review The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-03-2023-0239

查看原文本刊更多论文

从金融的角度来看，个人知道、感觉和做什么?财务满意度的实证研究

财务上的满足是个人生活中潜在的抱负，需要有良好的经济行为策略。作者研究了各种因素对印度国家首都地区(NCR)个人财务行为(FB)和财务满意度(FIS)的影响。设计/方法/方法通过文献回顾，利用现有的FIS量表制定调查问卷。为了获得更深入的见解，我们使用自填问卷从NCR地区的427名受访者那里获得了数据。本文采用偏最小二乘结构方程模型(PLS-SEM)对假设的个体FIS模型进行检验。研究结果显示，理财态度(FA)、理财自我效能感(FSE)、理财知识(FK)和人口统计学特征(DC)显著影响理财行为。相反，财务压力(FS)对FB有负向影响。结果还表明，FA、FSE、FK和FB对FIS均有显著影响。然而，FS和DC对FIS的影响不显著。据作者所知，这篇文章是对印度个人FB和FIS的新颖视角的初步尝试。它将通过提供各种开创性的经济方案和制定有助于提高个人FIS的政策来帮助政府和利益相关者。同行评议本文的同行评议历史可在:https://publons.com/publon/10.1108/IJSE-03-2023-0239

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来源期刊

INTERNATIONAL JOURNAL OF SOCIAL ECONOMICS ECONOMICS-

CiteScore

3.20

自引率

5.30%

发文量

期刊介绍： The International Journal of Social Economics publishes original and peer-reviewed theoretical and empirical research in the field of social economics. Its focus is on the examination and analysis of the interaction between economic activity, individuals and communities. Social economics focuses on the relationship between social action and economies, and examines how social and ethical norms influence the behaviour of economic agents. It is inescapably normative and focuses on needs, rather than wants or preferences, and considers the wellbeing of individuals in communities: it accepts the possibility of a common good rather than conceiving of communities as merely aggregates of individual preferences and the problems of economics as coordinating those preferences. Therefore, contributions are invited which analyse and discuss well-being, welfare, the nature of the good society, governance and social policy, social and economic justice, social and individual economic motivation, and the associated normative and ethical implications of these as they express themselves in, for example, issues concerning the environment, labour and work, education, the role of families and women, inequality and poverty, health and human development.