The Linkages of Financial Self-Efficacy and Financial Decision Behaviour: Learning from Female Lecturers in East Coast Malaysia (original) (raw)
Related papers
The Effect of Women's Financial Self-Efficacy on Financial Product Ownership
Journal of Economics, Business, & Accountancy Ventura, 2020
The government is intensively implementing formal and informal education to improve individual financial literacy. This study aims to examine the effect of women's financial self-efficacy on financial product ownership, controlling for contributing to financial literacy, financial risk preferences, and demographic factors. The sample consists of 253 female respondents who live in Surabaya and already have financial products. The data are collected using questionnaires and processed using binary logistic regression. The results show that women's financial self-efficacy significantly affects the choice of financial products in the form of investment, credit cards, and other loans. However, it does not significantly affect the choice of financial products in the form of savings, mortgages, health insurance, and life insurance. This study is expected to provide benefits in developing learning methods to appropriately improve women's financial literacy according to the availa...
2021
Abstract: The financial behaviour of an investor not only determines the wellbeing of individual, but that of the family, community and the nation as a whole. This makes it crucial to understand the drivers of financial behaviour. The current study is based on salaried class investors in Bengaluru, India. The researcher explored the impact of two antecedents of financial behaviour; financial literacy and financial self-efficacy. In addition, the intervening role of financial self-efficacy, on dependent and independent variables was also examined. A sample of 200 respondents were chosen for the study and data was collected through a structured questionnaire. Pearson's correlation and linear regression were used to test the hypotheses of the study. The results indicated a positive moderate correlation among the variables and suggests that financial literacy is vital in shaping the financial behaviour of an investor and this relationship is strengthened by financial self-efficacy. ...
Financial Self-Efficacy and Financial Well-Being: Insights from Western Java University Students
Jurnal Proaksi, 2024
Confidence in managing personal finances is crucial for developing financial behaviors that lead to future financial well-being. This study, therefore, examines the impact of financial self-efficacy on financial well-being among university students residing in the provinces of Banten, DKI Jakarta, and West Java. Employing a quantitative research design, a sample of 124 selected respondents was analyzed using Structural Equation Modeling –Partial Least Squares (SEM-PLS) with SMARTPLS Version 3. Additionally, a sub-sample robustness check was conducted by dividing the sample into groups: Banten and DKI Jakarta students, and West Java students. The findings indicate that financial self-efficacy has a positive effect on financial well-being. The robustness check results were consistent across the main sample and both test groups. These findings underscore the necessity for universities in Banten, DKI Jakarta, and West Java to develop financial education programs aimed at enhancing students' financial self-efficacy. Financial institutions and policymakers are also encouraged to collaborate with universities to provide resources that bolster students' financial well-being.
Humanities & Social Sciences Reviews
Purpose of the study: The purpose of the study was to compare the financial information, financial self-efficacy and emotional intelligence on the financial management of women lecturer in state and private university. Methodology: This study was designed as a conclusive causality study. The study population was female lectures of state and private universities in Indonesia. From the population, there are two hundred (200) female lectures from a state university and private universities have selected as a sample of study by quota sampling method. The data collection techniques used in this research are interviews and surveys. Multiple regressions was chosen to get results with the SPSS tools. Main Findings: There is an influence of financial knowledge, financial self-efficacy, financial literacy, and emotional intelligence to the financial management behavior of female lecturers at state universities while there is no influence of financial attitude, financial literacy, and emotiona...
European Online Journal of Natural and Social Sciences, 2016
This study finds the impact of money attitudes on the personal financial management behavior and check the moderating effect of financial knowledge and financial self-efficacy on their relationship. The sample for this research was young adults (University students) who were also employed. From five universities where two universities were from the public sector and three were from private sector 500 respondents were selected through purposive sampling. Hierarchal Regression and factor analysis were employed to derive the results. The following are the results which are generated from this research study. Money attitudes and Financial Knowledge have a significant positive impact on the personal financial management behavior of young adults, and financial knowledge has a positive moderating impact on the relationship of money attitudes & personal financial management behavior. It was found that 20.9% Personal Financial Management Behavior is explained by money attitudes at significa...
ANNALS OF SOCIAL SCIENCES AND PERSPECTIVE
Financial inclusion refers to having an account in a recognized financial organization that enables people to formally save, borrow cash, and have insurance and use payment services. The study revealed that financial account ownership is just a nominal form of financial inclusion as people own the financial accounts just to keep their money safe (as in lockers) and to withdraw their salaries in the financial accounts. While the real financial inclusion is a much deeper concept that depends upon the users’ actual ease of access to the financial institution, the active utilization of various financial products (like saving accounts, loans and credits, insurance and remittances services, etc.) of the financial system and the user’s acquired satisfaction level by using the financial products and services. The study used this approach and measured the financial inclusion of individuals based on their real experiences in terms of access, usage and satisfaction level derived from financial...
https://www.ijrrjournal.com/IJRR\_Vol.9\_Issue.1\_Jan2022/IJRR-Abstract068.html, 2022
Financial behavior is a reality that must be faced by every individual in everyday life. Where every individual must behave financially well in order to balance between income and expenses so that they can meet the needs of life and not get caught in financial difficulties. Students are individuals who behave poorly with their finances. Students still have a soul that is still unstable and easily influenced by the surrounding environment. Students often have complex financial problems, because most students do not have limited income and reserves to use every month. Especially for students who have not worked and only get some money from their parents. The purpose of this study was to analyze the effect of financial attitude and financial socialization agents on the financial behavior of students who are boarding and studying in Medan with financial self-efficacy as a moderating variable. The type of research used is quantitative research with a descriptive approach. The population in this study were students who were boarding and studying in Medan. The determination of the sample size follows the rules in the PLS with a total of 100 respondents. The sampling technique used is non-probability sampling with method incidental sampling. The questionnaire that has been filled in by the respondent will then be processed using PLS (Partial Least Square). The results show that financial attitude has a positive and significant effect on financial behavior, financial self-efficacy has a positive and significant effect on financial behavior, and financial socialization agents have no significant effect on financial behavior. The results of the moderation test state that financial self-efficacy is a moderating variable for the relationship between financial attitude and financial behavior. Still, the results of the moderation test state that financial self-efficacy is not a moderating variable for the relationship between financial socialization agents and financial behavior. All independent variables are able to influence Y by 81.8% while the remaining 18.2% is explained by other variables not examined in this study.
The Economics and Finance Letters, 2019
A comprehensive financial literacy questionnaire surveyed prospective psychological constructs as antecedents (financial literacy, economic perception, financial selfconfidence, financial behavior, and personal financial performance) of applying financial self-efficacy in a large sample of working students in the hospitality and tourism industry. It is expected that financial literacy and economic perception are key antecedents of financial self-efficacy, which in turns may influence financial behaviors and personal financial performance in shaping a working student"s future skills for designing effective financial plans. For this purpose, the structural equations model was empirically tested. Moreover, the mediating indirect effects of financial self-efficacy in the relationships between financial literacy and economic environment on financial behavior and financial performance were tested through a two-phase methodological analysis. This study contributes to the literature by investigating the effects of financial self-efficacy, financial literacy and economic perception on personal financial behavior. The significance of the contribution is to propose and examine empirically a theorybased model of financial self-efficacy and financial behavior-performance in a service context among Generation Yers. Contribution/Originality: The financial efficacy model presented is applicable to different contexts, while the significant power of economic perception and financial knowledge shapes the formation of an adequate financial behavior and performance. This research not only tests the direct relationship of the constructs but also test the mediating power of financial self-efficacy. 1. INTRODUCTION Negligence to administer personal finances may generate dramatic unfavorable outcomes in personal finance among young adults (Generation Y). Financial institutions such as banks and credit unions indicate that the elevated frequency of personal economic failures, credit score issues, weak saving rates, and emotional purchasing behaviors are the main consequences of an absence of financial literacy, financial self-efficacy (FSE), and a realistic economic perception on the buyers" side (Joseph et al., 2017). Fernandes et al. (2014) state that this absence of literacy and comprehension is due to the fact that several bases of the financial world are complicated and distant to
2016
This research aims to know the influence of financial education toward financial literacy on Economics Faculty students. In Economics Faculty, Universitas Negeri Semarang, there were 16 of 40 students who had good financial behaviors. It was contradictive because they have taken accounting subject who make them good in financial literacy. The research on financial literacy had the contradiction, especially in the influence of financial education variable on financial literacy. Therefore, this study raised the mediating variables; the consumer knowledge variable and psychological factor variables (motivation, self efficacy). This study was analyzed by two analyses that were descriptive analysis and path inferential analysis. Findings show that students' financial literacy and financial education are in enough categories; whereas, motivation and self-efficacy are in good condition, and students' financial knowledge is in unfavorable category. The results of path analysis show ...
Financial literacy, financial self-efficacy and financial account ownership behavior in Pakistan
Cogent Economics & Finance, 2020
Study examines the role of financial literacy and financial self-efficacy of individuals in explaining their behavior to have financial accounts. Study has used the questionnaire based survey and collected the data responses from 564 adults belonging to Sahiwal division. The binary logistic regression model is utilized to estimate the probability of having financial accounts in relation to individual’s financial literacy and financial self-efficacy level. Estimated results show that individual’s financially literacy level is positively related with individual’s account ownership model among the selected group. While individual’s financial self-efficacy level does not explain any positive significant impact on individual’s account ownership model. Other socio-demographic variables like gender, marital status, education, occupation, and income level are also found to have influential impact on the individuals’ account ownership behavior in Pakistan. Study recommends that financial lit...