Financial planning behaviour: a systematic literature review and new theory development

Yeo, Kingsley Hung Khai; Lim, Weng Marc; Yii, Kwang-Jing

doi:10.1057/s41264-023-00249-1

Cited by 8 publications

(1 citation statement)

References 96 publications

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“…Despite the significant contributions of existing research on green consumer behavior and the TPB, a noteworthy gap exists. While the TPB has recently inspired the creation of contemporary indigenous theories like the theory of behavioral control (Lim and Weissmann, 2023) and the theory of financial planning behavior (Yeo et al , 2023), its adaptability to environmentally influenced consumer behavior remains noticeably underexplored. Mancha and Yoder (2015), for instance, contextualized the TPB components: from attitude, subjective norm, perceived behavioral control and behavioral intention to green versions of the same (i.e.…”

Section: Introductionmentioning

confidence: 99%

A multidimensional lens of environmental consciousness: towards an environmentally conscious theory of planned behavior

Laheri,

Lim,

Arya

et al. 2024

JCM

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Purpose The purpose of this paper is to examine the purchase behavior of consumers towards green products by adapting and extending the theory of planned behavior with the inclusion of three pertinent environmental factors posited to reflect environmental consciousness in the form of environmental concern, environmental knowledge and environmental values. Design/methodology/approach The data was collected from 410 consumers at shopping malls with retail stores selling green and non-green products in a developing country using cluster sampling and analyzed using covariance-based structural equation modeling. Findings The findings of this study indicate that environmental factors reflecting environmental consciousness positively influence consumers’ attitude towards purchasing green products, wherein consumers’ environmental values have a stronger influence than their environmental concern and environmental knowledge. The findings also reveal that subjective norm, attitude and perceived behavioral control toward purchasing green products positively shape green purchase intention. The same positive effect is also witnessed between green purchase intention and behavior. However, perceived behavioral control towards purchasing green products had no significant influence on green purchase behavior. Practical implications This study suggests that green marketers should promote environmental consciousness among consumers to influence and shape their planned behavior towards green purchases. This could be done by prioritizing efforts and investments in inculcating environmental values, followed by enhancing environmental knowledge and finally inducing environmental concern among consumers. Green marketers can also leverage subjective norm and perceptions of behavioral control toward purchasing green products to reinforce green purchase intention, which, in turn, strengthens green purchase behavior. This green marketing strategy should also be useful to address the intention–behavior gap as seen through the null effect of perceived behavioral control on purchase behavior toward green products when this strategy is present. Originality/value This study contributes to theoretical generalizability by reaffirming the continued relevance of the theory of planned behavior in settings concerning the environment (e.g. green purchases), and theoretical extension by augmenting environmental concern, environmental knowledge and environmental values with the theory of planned behavior, resulting in an environmentally conscious theory of planned behavior. The latter is significant and noteworthy, as this study broadens the conceptualization and operationalization of environmental consciousness from a unidimensional to a multidimensional construct.

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Section: Introductionmentioning

confidence: 99%