Sample Size Measurement

Younas, Waqar; Farooq, Muhammad; Khalil-Ur-Rehman, Faisal

doi:10.37187/gjoes.0620.0202.02

Cited by 2 publications

(2 citation statements)

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“…Many researches also support the rule of thumb that for each construct there must be at least 10 observations. Depending upon the size of the target population (students enrolled in the universities) and taking 95% confidence interval, the minimum sample required for the study came out to be 384 using a sampling formula [ 59 ]. Thus, our sample size meets all the above criteria for a representative sample.…”

Section: Methodsmentioning

confidence: 99%

The role of self-esteem, optimism, deliberative thinking and self-control in shaping the financial behavior and financial well-being of young adults

et al. 2021

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The sustainable financial behavior and financial well-being have been a key concern among the developing societies; thereby encompassing the various psychological factors which play a role in influencing individual’s positive financial behavior and financial well-being, this study is conducted. Research focusing on the psychological aspect of human financial behavior and well-being is scarce, focusing more on the cognitive side such as financial literacy and numeracy. The aim of this research study is to find the role played by the non-cognitive factors such as self-esteem, self-control, optimism and deliberative thinking, in forming the financial behavior and financial well-being of the young adults. A sample of 429 university students from public and private sector was collected via an online and field survey using purposive sampling technique. The survey contained measures for demographics, self-esteem, optimism, deliberative thinking, self-control, general financial behavior and financial well-being. SPSS and PLS-SEM tools were used for the exploration of the relationships among dependent and independent variables. The results of PLS path analysis demonstrate that among the non-cognitive factors, self-control and deliberative thinking show a significant association with both financial behavior, and financial security. Self-esteem plays no significant role in forming the financial behavior of the young adults when all the variables are taken together but it exhibits a significant association with financial well-being (financial security and financial anxiety). Optimism on the other hand exhibits no significant association with both financial behavior and financial well-being (financial security and financial anxiety). The results of this study complement the previous studies and also put forth new outcomes. This research is unique as it is the first of its kind conducted in a consumption-oriented economy like Pakistan. In addition to the previous studies which have often established the link of self-esteem with general well-being, this study goes further by analyzing the association between self-esteem and financial well-being and by the identification of the role played by non-cognitive factors like self-esteem, optimism, deliberative thinking and self-control together on the financial behavior and financial well-being of the individuals using PLS-SEM approach.

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Section: Methodsmentioning

confidence: 99%

The role of self-esteem, optimism, deliberative thinking and self-control in shaping the financial behavior and financial well-being of young adults

et al. 2021

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“…Kamakia et al (2017) identified a positive association between FL and FW. Younas et al (2019) poise that an improvement in FL would result in enhanced FW. Rahman et al (2021) also affirmed that FL is very relevant when predicting FW.…”

Section: Developing Hypotheses Based On Empirical Evidencementioning

confidence: 99%

Financial literacy induced financial well‐being in Ghana: Does financial inclusion mediate?

Nutassey,

Frimpong,

Agyei

et al. 2024

Thunderbird Intl Bus Rev

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We investigated the mediating role of financial inclusion in the relationship between financial literacy and financial well‐being in Ghana. Using PLS‐SEM, we found that financial inclusion indeed mediates financial literacy and financial well‐being in Ghana. We also documented a positive and significant relationship between Ghanaians' financial literacy and financial well‐being. Again, financial literacy has a direct positive effect on financial inclusion. Hence, to enhance the impact of financial literacy on financial well‐being in Ghana, policymakers should grant financial institutions enough freedom to offer a variety of financial services; financial institutions that have lost credibility in Ghana (such as insurance companies) should be put in check to build the trust of Ghanaians in them; and the cost of using a mobile phone and internet services to access financial services in Ghana should be reduced. The management of financial institutions can utilize the freedom offered to them by policymakers to offer various financial services to the public, build trust in customers, and offer lower‐cost services to help improve the financial well‐being of Ghanaians.

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Sample Size Measurement

Cited by 2 publications

References 0 publications

The role of self-esteem, optimism, deliberative thinking and self-control in shaping the financial behavior and financial well-being of young adults

The role of self-esteem, optimism, deliberative thinking and self-control in shaping the financial behavior and financial well-being of young adults

Financial literacy induced financial well‐being in Ghana: Does financial inclusion mediate?

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