Building a Conscientious Personality is Not Sufficient to Manage Behavioral Biases: An Effective Intervention for Financial Literacy in Women Entrepreneurs

Q2 Business, Management and Accounting

Business Perspectives and Research Pub Date : 2022-08-13 DOI:10.1177/22785337221114675

Tahira Iram, A. Bilal, Zeshan Ahmad, Shahid Latif

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引用次数: 2

Abstract

The purpose of this study is to examine the impact of Consciousness personality on women entrepreneurs’ behavioral biases by focusing on financial literacy which is taken as a mediator while the mindfulness as a potential moderator. A random sample of 210 female entrepreneurs working in Pakistan was collected through stratified sampling technique and data are analyzed by using Structural Equation Modeling through SMART-PLS. The results divulged a significant mediating impact of financial literacy in reducing mental accounting bias among consciousness personality possessing women entrepreneurs; however, financial literacy was found related to the risk aversion bias through mindfulness. The moderation analysis further revealed interesting indirect impacts, such that financial literacy strongly reduced mental accounting and risk aversion bias for women who were more conscious of proper financial mindfulness. Nonetheless, financial mindfulness did not catalyze financial literacy and herding bias relationship. By encompassing the concepts of financial literacy, mindfulness, and behavioral biases in consciousness personality’s women entrepreneurs, we offered a comprehensive theoretical framework with practical implications for women entrepreneurs in Pakistan. Thus, we suggest new avenues for the longstanding dilemma related to the factors instigating suboptimal financial decision-making in women entrepreneurs in developing markets.

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建立负责任的人格不足以管理行为偏差:对女性企业家财务素养的有效干预

本研究旨在探讨意识人格对女企业家行为偏差的影响，以金融素养为中介，正念为潜在调节因子。采用分层抽样技术随机抽取210名在巴基斯坦工作的女性企业家，并运用SMART-PLS结构方程模型对数据进行分析。结果发现，财务素养对降低意识人格女性企业家心理会计偏差具有显著的中介作用;然而，通过正念发现金融素养与风险厌恶偏见相关。适度分析进一步揭示了有趣的间接影响，例如，对于那些更意识到适当的财务正念的女性来说，金融知识大大减少了心理会计和风险厌恶偏见。然而，金融正念并没有催化金融素养和羊群偏见的关系。通过将意识人格女性企业家的金融素养、正念和行为偏见等概念纳入研究，我们为巴基斯坦女性企业家提供了一个具有实际意义的综合理论框架。因此，我们提出了新的途径，长期困境相关的因素煽动次优财务决策在发展中市场的女企业家。

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来源期刊

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

CiteScore

5.00

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0.00%

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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.