Does Financial Behavior Influence Financial Well-being?

• 발행기관: 한국유통과학회
• 저자명: Kavita CHAVALI Prasanna MOHAN RAJ Riyaz AHMED
• 간행물 정보: 『The Journal of Asian Finance, Economics and Business(JAFEB)』Vol. 8 No.2, 273~280쪽, 전체 8쪽
• 주제분류: 경제경영 > 경제학
• 파일형태: PDF
• 발행일자: 2021.02.28

영문 초록

Financial behavior and financial well-being are two closely related aspects of an individual’s financial decision making. This study attempts to investigate the extent to which financial behavior influences financial well-being in the Indian scenario. The data is collected using a structured questionnaire from a sample of 150 respondents. The study employs Financial Management Behaviour Scale (FMBS) (Dew & Xiao, 2012) to measure financial behavior. Factor analysis and multiple regression are performed to find the influence of financial behavior on financial well-being. The findings of the study suggest that except for credit commitment all the other behavioral factors like future security, savings and investments, credit indiscipline, and financial consciousness have a significant impact on the financial well-being of an individual in the Indian scenario. The regression coefficients of financial well-being are strongly determined by financial consciousness. The study is a contribution to the existing behavioral studies literature and the model used identifies the factors that influence the financial well-being in the Indian scenario. The study is conducted during the year 2020, so the results could have been influenced by the economic scenario of the period. The results of the study can be used by financial advisors to understand the financial well-being in the Indian scenario.

목차

1. Introduction

2. Literature Review

3. Research Methods and Materials

4. Results and Discussion

5. Conclusion

키워드

Financial Behavior Financial Well-being Financial Literacy Emerging Economy India