Demographic and socio‐economic determinants of financial satisfaction

Sahi, Shalini Kalra

doi:10.1108/03068291311283607

Cited by 54 publications

(30 citation statements)

References 45 publications

(135 reference statements)

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“…Even though demographic factors do not directly influence behavior in the TPB model, these factors are statistically significantly in affecting behavior to achieve the solicited outcomes (Zabai, 2017;Xiao and Yao, 2014;Sahi, 2013;Lusardi, 2008;McKee-Ryan et al, 2005;Schlegelmilch et al, 1997;Lea et al, 1995;Livingstone and Lunt, 1992). Demographic factors, therefore, govern behavior indirectly through attitudes (Chien and Devaney, 2001), SN and PBC (Xiao and Wu, 2008).…”

Section: Charity and Debt Behaviors Comparisonmentioning

confidence: 99%

Charity and debt behaviors comparison: perception of low-income households

Arsyianti

Kassim

2021

IJOES

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Purpose This paper aims to investigate low-income households in Indonesia with regard to their perspective on charity-giving and its comparison with acquiring debt behavior as their tendencies on taking and giving behaviors toward monetary form. The research framework is seen from the Islamic perspective. Design/methodology/approach Theory of social production function and theory of planned behavior are used as a theoretical framework. A total of 98.89% of the distributed questionnaires were collected and analyzed using structural equation modeling. Behavior of giving charity and acquiring debt are compared according to the given determinants. Findings Under the given Islamic framework, charity is found to be not confined to the donor’s wealth. It is rather centered on religiosity and faith. Subjective norm does not influence intention toward charity. Hence, it only depends on consideration and awareness of a person toward regular giving of charity. Unlike debt that is confined by a person’s wealth, the intention to take debt consecutively of low-income households are also affected by their attitudes, significant others and experiences. Research limitations/implications Respondents are residents of six Indonesian territories that represent West, Middle and East Indonesia. Practical implications Findings are useful for social, as well as microfinance practitioners who are interested in the financial education on low-income households and study their perspective and behavior. Social implications This paper indirectly contributes to changing the perspective of society about charity-giving, especially in philanthropy subject. This paper is also highly recommended for regulator’s input on financial education, as well as for practitioners, consultants and educators. Originality/value Charity basically can assist low-income households experiencing financial hardship, which may be the consequence of consecutive taking debt. Most of the studies on charity-giving focus on high-income households, likewise the debt behavior. Charity-giving in voluntary form is also not widely discussed in view of behavior, specifically in Asian countries like Indonesia.

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Section: Charity and Debt Behaviors Comparisonmentioning

confidence: 99%

Charity and debt behaviors comparison: perception of low-income households

Arsyianti

Kassim

2021

IJOES

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“…Furthermore, even though demographic factors do not directly influence behaviour, these factors are statistically significant in affecting behaviour. Many studies related the outcomes to financial behaviour (Sahi, 2013;Stone & Maury, 2006;Mewse, Lea, & Wrapson, 2010;Lusardi, 2008;Lea, Webley, & Walker, 1995;Livingstone & Lunt, 1992;McKee-Ryan et al, 2005;Xiao & Yao, 2014;Schlegelmilch, Love, & Diamantopoulos, 1997). Socioeconomic demography factors, then, consist of education level, age, marital status, and number of dependent.…”

Section: Charity-giving Behaviourmentioning

confidence: 99%

Debt-Taking and Charity-Giving Among Low-Income Households: Strengthening Resilience in Islamic Perspective

Arsyianti

Kassim

Adeyemi

2018

JIMF

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Households’ financial problem was perceived to be solved by taking other source of fund such as debt. In Islam, taking debt should be considered as the last resource when other sources were not available. Islam gives solution for those who have financial problem. Giving just small amount of money would give barakah to the giver. Charity-giving is not privilege for the rich people, but also for those in dire conditions. This paper attempts to explore whether low-income households’ perception on consecutive debt-taking influences their perception on regular charity-giving especially to achieve stipulated outcomes, i.e. households’ financial resilience. Structural Equation Modelling (SEM) is employed to analyse 1780 data from respondents across six areas in Indonesia. Low-income households perceived consecutive debt-taking to have negative relationship with regular charity-giving and positive relationship with outcomes (households’ financial condition and lifestyle satisfaction). Meanwhile, regular charity-giving has negative relationship with the outcomes when consecutive debt-taking intervene the relationship. Financial education and selection of financing institution have been proven to have relationships with variables which influence both regular charity-giving and consecutive debt-taking behaviours. As recommendation, charity education or sharing values should be included in the current financial education program. Formal financial institutions and social finance institution should also encourage supervision and continuously give financial education to social funds receivers.

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“…To the best of our knowledge, no previous study has examined the intervening role of financial satisfaction in the proposed framework. Majority of the studies in the realm of financial satisfaction have focused on the various factors determining financial satisfaction of the individual (Joo and Grable, 2004; Sahi, 2013), and there is a dearth of research examining the relationship between personal characteristics of the individual and their perceived financial satisfaction. There exists a significant relationship between personality traits and financial satisfaction as suggested by the limited literature on this relationship (Davis and Runyan, 2016; Tharp et al ., 2020).…”

Section: Introductionmentioning

confidence: 99%

The influence of personality traits on investment decision-making: a moderated mediation approach

Sachdeva

Lehal

2023

IJBM

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PurposeBehavioral finance proposes that psychology of the individual plays a vital role in investment decisions. Therefore, this study aims to examine the influence of one of the important disciplines of psychology, i.e. personality on investment decision-making by incorporating financial satisfaction as an intervening variable and gender as a moderator.Design/methodology/approachThe data of 406 valid responses were collected through structured questionnaires from individual investors of Indian stock market and analyzed using structural equation modeling. Several invariance tests were also conducted to perform the multigroup analysis of gender on the mediated model.FindingsThe results revealed that extraversion, agreeableness, conscientiousness and neuroticism significantly influence investment decision-making through financial satisfaction. While financial satisfaction significantly mediates the indirect relationships between personality traits and investment decision-making for both males and females, no significant differences among males and females were found in the mediated model.Research limitations/implicationsThe current study covers a limited geographical area of North India. In addition to this, it is cross-sectional in nature and incorporates only limited factors for predicting investment decisions.Practical implicationsThe study possesses numerous significant implications for financial practitioners, advisors, investors, academicians and researchers in the field of behavioral finance.Originality/valueThis study suggests a moderated mediation approach, which incorporates financial satisfaction as a mediator and gender as a moderator. To the best of the authors’ knowledge, so far, no study has been conducted in this context, and it will enhance the understanding of investment decisions of individual investors.

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Demographic and socio‐economic determinants of financial satisfaction

Cited by 54 publications

References 45 publications

Charity and debt behaviors comparison: perception of low-income households

Charity and debt behaviors comparison: perception of low-income households

Debt-Taking and Charity-Giving Among Low-Income Households: Strengthening Resilience in Islamic Perspective

The influence of personality traits on investment decision-making: a moderated mediation approach

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