Impact of Financial Education on Financial Wellness During COVID-19

Q2 Business, Management and Accounting

Business Perspectives and Research Pub Date : 2023-11-21 DOI:10.1177/22785337231207927

Nimesh P. Bhojak, A. Modi, Dhimen J Jani, M. Momin

引用次数: 0

Abstract

The study intentions to examine the result of getting financial education through the workshop on the financial wellness of people during the COVID-19. Primary data are collected from the participants of a Financial Education workshop in India. The study contained 996 respondents for research using the Personal Financial Well-Being Scale (PFWS) questionnaire from the respondents before and after participating in the workshop. Using Hayes’ macro process model and SPSS, the study tested mediation (financial behavior) and moderation (financial education). All the independent variables were encouraging effect on financial wellness by taking the financial behavior and participation of the respondent as the mediator and moderator variables. The independent variables of subjective aspects such as financial stress, situation, and condition have a more significant effect on financial wellness. This study indicates that policymakers and financial regulatory institutions should improve FE to improve financial behavior and wellness during a crisis for individual and economic well-being.

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COVID-19 期间金融教育对财务健康的影响

本研究旨在探讨在 COVID-19 期间通过讲习班接受金融教育对人们的财务健康产生的影响。原始数据收集自印度金融教育研讨会的参与者。该研究包含 996 名受访者，使用个人财务健康量表 (PFWS) 问卷对受访者参加工作坊前后的财务健康状况进行研究。研究使用 Hayes 的宏观过程模型和 SPSS，对中介（金融行为）和调节（金融教育）进行了测试。通过将受访者的财务行为和参与情况作为中介变量和调节变量，所有自变量都对财务健康产生了鼓励性影响。财务压力、状况和条件等主观方面的自变量对财务健康的影响更为显著。这项研究表明，政策制定者和金融监管机构应改善金融环境，以改善危机期间的金融行为和健康状况，从而促进个人和经济福祉。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Business Perspectives and Research Business, Management and Accounting-Business and International Management

CiteScore

5.00

自引率

0.00%

发文量

期刊介绍： Business Perspectives and Research (BPR) aims to publish conceptual, empirical and applied research. The empirical research published in BPR focuses on testing, extending and building management theory. The goal is to expand and enhance the understanding of business and management through empirical investigation and theoretical analysis. BPR is also a platform for insightful and theoretically strong conceptual and review papers which would contribute to the body of knowledge. BPR seeks to advance the understanding of for-profit and not-for-profit organizations through empirical and conceptual work. It also publishes critical review of newly released books under Book Review section. The aim is to popularize and encourage discussion on ideas expressed in newly released books connected to management and allied disciplines. BPR also periodically publishes management cases grounded in theory, and communications in the form of research notes or comments from researchers and practitioners on published papers for critiquing and/or extending thinking on the area under consideration. The overarching aim of Business Perspectives and Research is to encourage original/innovative thinking through a scientific approach.