Impact of Financial Socialization, Financial Literacy, and Attitude Towards Money on Financial Well-Being in Pakistan: The Complementary Role of Financial Self-Efficacy, Locus of Control, and Collectivism

2021 ◽  
Author(s):  
Mohammad Qasim ◽  
Danish Ahmed Siddiqui
Keyword(s):  
Locus Of Control ◽  
Financial Literacy ◽  
Self Efficacy ◽  
Well Being ◽  
Financial Socialization ◽  
Complementary Role

scholarly journals Determinants of Financial Empowerment Among Women in Saudi Arabia

2021 ◽  
Vol 12 ◽  
Author(s):  
Murad Ali ◽  
Imran Ali ◽  
Saeed Badghish ◽  
Yasir A. Soomro
Keyword(s):  
Saudi Arabia ◽  
Financial Literacy ◽  
Self Efficacy ◽  
Cognitive Theory ◽  
Well Being ◽  
Baseline Survey ◽  
Financial Socialization ◽  
Coping Behaviors ◽  
Saudi Women

Increasing women’s financial empowerment is important as they experience a lack of control over economic resources as compared to men. Although plenty of research evidence is available on the determinants of financial empowerment among women in developed countries, there is less known in the context of a traditionally male-dominated society like Saudi Arabia. The current study proposes a conceptual model that examines the role of financial literacy and financial socialization, in the development of financial self-efficacy, financial coping behaviors, and financial empowerment among Saudi women using social cognitive theory (SCT). Data are collected through a baseline survey from a sample of 1,368 women respondents who belong to the different segments of society ranging from female university students to women in the household to women working in different sectors in Saudi Arabia. We employed partial least squares (PLS) path modeling techniques using SmartPLS to test the hypotheses proposed in this study. The study found a significantly positive association between financial literacy, financial coping behavior, and financial well-being. Financial socialization is also significantly related to financial self-efficacy and financial empowerment. We also found the positive role of financial self-efficacy and financial coping behaviors in the development of financial empowerment. The practical implication of this study includes the provision of financial literacy education/training to Saudi women and increasing their financial socialization to improve their financial well-being.

scholarly journals The Influence of Self-Efficacy and Locus of Control on Body Image: A Path-Analysis in Aspiring Fashion Models, Athletes and Students

2021 ◽  
Vol 18 (11) ◽  
pp. 6128
Author(s):  
Donatella Di Corrado ◽  
Marinella Coco ◽  
Maria Guarnera ◽  
Nelson Mauro Maldonato ◽  
Alessandro Quartiroli ◽  
...  
Keyword(s):  
Body Image ◽  
Locus Of Control ◽  
Body Dissatisfaction ◽  
Path Analysis ◽  
Self Efficacy ◽  
Well Being ◽  
Health Concern ◽  
Eating Attitude ◽  
Control Group ◽  
Fashion Models

It is widely documented that negative body image is a significant public health concern due to its association with symptoms of disordered eating and worse psychological well-being. The purpose of the study was to develop a path model of intrapersonal dimensions (self-efficacy and internal locus of control) as antecedents of perceived stress toward females’ body dissatisfaction and eating attitude disorders. A total of 300 females, including 100 aspiring fashion models, 100 athletes and 100 students (controls), between 15 and 24 years of age (M = 19.6, SD = 1.85) participated in the study. Measures included level of psychological stress, self-efficacy and locus of control dimensions, body dissatisfaction and eating attitude disorder indices. A path analysis confirmed our research hypothesis. Comparing the three subsamples, we found better fit indexes in the two subgroups with elevated investment on their body image with respect the control group. More specifically, the model in the group of aspiring fashion models showed the best fit index. These results indicated that aspiring fashion models have a strong desire to maintain their low body mass or to become thinner. For this reason, a suitable involvement of expert health workers in the nutritional and psychological field could be extremely essential in the fashion world to maintain a healthier well-being.

Social support and well-being in dementia family caregivers: The mediating role of self-efficacy

2009 ◽  
Vol 13 (5) ◽  
pp. 761-768 ◽  
Author(s):  
Alma Au ◽  
Man-Kin Lai ◽  
Kam-Mei Lau ◽  
Pey-Chyou Pan ◽  
Linda Lam ◽  
...  
Keyword(s):  
Social Support ◽  
Family Caregivers ◽  
Self Efficacy ◽  
Well Being ◽  
Mediating Role

How perceived information transparency and psychological attitude impact on the financial well-being: mediating role of financial self-efficacy

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Zia-ur-Rehman ◽  
Khalid Latif ◽  
Muhammad Mohsin ◽  
Zahid Hussain ◽  
Sajjad Ahmad Baig ◽  
...  
Keyword(s):  
Financial Institutions ◽  
Self Efficacy ◽  
Well Being ◽  
The Body ◽  
Main Concern ◽  
Productivity Level ◽  
Content Type ◽  
Information Transparency ◽  
Psychological Attitude

PurposeThe basic intention of this research is to investigate the role of information transparency of financial institutions and psychological attitude of the individuals toward their attention to saving and borrowing. This study also tries to know how an individual's psychological factor affects a person's attitude to motivate them to save or borrow and contribute to well-being by giving them confidence that they can face financial challenges. So, the main concern of this study is to explore different factors that ultimately contribute to the financial well-being (FWB) of individual.Design/methodology/approachA survey was conducted by using a well-structured questionnaire to collect data and test the developed hypotheses by using SmartPLS. Data were collected from 120 customers of seven different commercial banks in Pakistan.FindingsThe findings of this study show that perceived information transparency positively affects FWB. It is also because transparent shared information creates positive change in individuals' perceived self-efficacy and leads to FWB. Furthermore, an individual's psychological attitude toward borrowing and saving did not contribute to the FWB of people who belong to Pakistan.Research limitations/implicationsThe research area is limited to one city of Pakistan and analysis is done with small numbers of sample, it can be increased and more areas can be explored.Practical implicationsThis research provides significant implications for people and economists by providing awareness about the antecedents of FWB. The policymakers or managers who work in financial institutions should provide more transparent information and create less risky opportunities to improve the individual's well-being. If person, manager and financial institution can properly utilize the information of this study, then they are able to improve their FWB. By providing more transparent services and favorable experience with your dealings, it could help to obtain and retain more loyal internal (employees) and external customers. The loyal customers and sincere employees can increase the productivity level of organization. The more productive organizations in countries means better society and progress in the economy.Originality/valueThis research contributes to the body of knowledge that how perceived information transparency and psychological attitude of borrowing create improvement and upward changes in the FWB of a person.

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