Purpose
The purpose of this study is to propose and test predictors of millennials’ social entrepreneurial intent (SEI), mediating mechanisms and influential contextual factors.
Design/methodology/approach
This study includes survey data from 1,890 respondents, 315 each from China, Mexico, Nigeria, Philippines, Russia and the USA.
Findings
Empirical results show that social entrepreneurial self-efficacy (SESE) mediated the relationship between perseverance and proactive personality and the dependent variable SEI in all six countries. Life satisfaction positively moderated this relationship among US students and negatively moderated it among Chinese students. In China dissatisfaction appears to enhance SEI, while in the US satisfaction appears to do so.
Originality/value
This paper identifies the mediating role of SESE and the moderating role of life satisfaction when explaining SEI, as well as providing data from millennials in six countries.
The study examined interrelationships between attachment, social self-efficacy, career decision-making self-efficacy, and life satisfaction. Social cognitive career theory and attachment theory were integrated to provide a framework for this study. A conceptual model was proposed and tested to determine if social self-efficacy and career decision self-efficacy were full or partial mediators between attachment and life satisfaction. Structural equation modeling methods were utilized to test the model. Findings indicated that social self-efficacy and career decision self-efficacy partially mediated between attachment and life satisfaction among college students, the majority of whom were Caucasian females. This lends support to the idea that adult attachment is a fundamental source of efficacy information and operates as a critical component in college students’ perceptions of their efficacy in the domains of close relationships and career decisions, both of which impact life satisfaction. Implications for practice and research are discussed.
Important strides have been made toward understanding the relationship between self-efficacy and life satisfaction. However, existing studies have largely focused on work and academic domains, leaving self-efficacy in the finance domain less frequently investigated. The present study applied the self-efficacy construct to the finance domain, namely “financial self-efficacy” (FSE), and tested the sequential mediating roles of high standards tendency and investment satisfaction in the relationship between FSE and general life satisfaction. A total of 323 employees from finance-related businesses completed anonymous questionnaires regarding FSE, high standards tendency, investment satisfaction, and general life satisfaction. Results indicated that FSE influenced general life satisfaction through investment satisfaction, and sequentially through high standards tendency and investment satisfaction. These results provide contributions to the current literature on life satisfaction, and positive psychology literature by shedding light on the roles of high standards tendency and investment satisfaction in the relation between FSE and general life satisfaction.
Financial Self-Efficacy and General Life Satisfaction: The Sequential Mediating Role of High Standards Tendency and Investment Satisfaction