The impact of sleep quality on mental health in working Australians: A quasi-experimental approach

Foo, Jia Kai; Doan, Tinh

doi:10.1016/j.socscimed.2023.116039

Cited by 6 publications

(2 citation statements)

References 38 publications

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“…Simultaneously, in the instrumental variable test, the first-stage F-value of 1997.3 is much greater than 16.38. Foo et al [ 45 ] suggested that the F-value exceeds the critical value of 16.38 (p < .1), indicating that the average financial literacy within the same communities is not a weak instrumental variable. Further, the p-value of the Hausman test is highly significant, which rejects the null hypothesis that there is no endogeneity in the model, indicating that financial literacy is endogenous.…”

Section: Resultsmentioning

confidence: 99%

Impact of financial literacy on household stock profit level in China

Luo,

Azam,

Wang

2023

PLoS ONE

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The popularization of financial literacy has become a global trend, with governments across the world expressing commitment to continuously enhancing the financial literacy of their citizens to improve the country’s overall financial well-being. However, there is a lack of research evaluating the actual effects of financial literacy on Chinese households. This study first investigated the micro impact of financial literacy on the household stock profit level using data from the 2019 China Household Finance Survey. As most existing studies use factor analysis to measure financial literacy from a single dimension of financial knowledge, our study additionally used the entropy method to construct a composite evaluation system of financial literacy from four dimensions: financial skills, knowledge, attitudes, and behaviors. The ordinary least squares model was utilized as the primary regression model to estimate the correlation, and the average financial literacy of other households in the same community was selected as an instrumental variable. Further instrumental variable regression analysis was conducted using the two-stage least squares method. Three robustness tests were performed to ensure the reliability of the research findings. The results demonstrate that financial literacy significantly enhances household stock profit levels. The mediation effect analysis indicates that financial literacy affects stock profit levels through financial information attention. Moreover, financial literacy has a more substantial promoting effect on stock profit levels for households with members working for state-owned enterprises and those living in first-tier cities. This study confirms the value of financial literacy; identifies important channels for residents to increase their property income; and provides important guidance for the government, educational organizations, and financial institutions. This also injects more vigor into market participation to improve the persistently sluggish Chinese stock market.

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Section: Resultsmentioning

confidence: 99%

Impact of financial literacy on household stock profit level in China

Luo,

Azam,

Wang

2023

PLoS ONE

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“…However, this study has the limitations: (i) the number of observations was not large and the observation period was just three months, and (ii) only limited factors of physical health conditions obtained from medical checkups were used, ignoring the factors representing mental health conditions. Mental health is important for employee well-being, productivity, and absenteeism (29)(30)(31)(32)(33)(34)(35)(36)(37)(38)(39)(40)(41)(42). Goetzel et al (43) emphasized that employers must be concerned about rising mental healthcare costs.…”

Section: Introductionmentioning

confidence: 99%

Evaluation of physical and mental health conditions related to employees’ absenteeism

Nawata

2024

Front. Public Health

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BackgroundEmployees’ health conditions are issues for not only employees themselves but also companies and society to keep medical costs low and productivity high.Data and methodsIn this analysis, 15,574 observations from 2,319 employees at four operational sites of a large corporation were used. The dataset contained physical and mental health conditions obtained from annual mandatory medical checkups, the Brief Job Stress Questionnaire (BJSQ), and work record information. Health and other factors related to long-term absenteeism (over three days in a quarter) were analyzed. Data were collected between February 2021 and January 2022, and we converted into quarterly observations. A logit (logistic regression) model was used in the analysis.ResultsAge and gender were identified as important basic characteristics. The estimates for these variables were positive and negative and significant at the 1% level. Among the variables obtained from the medical checkups, the estimates for diastolic blood pressure, HbA1c, anamnesis, heart disease history, smoking, increased weight, and frequency of alcohol consumption were positive and significant at the 1% level, further those for taking antihypertensive medications and kidney disease history were positive and significant at the 5% level. In contrast, the estimates for systolic blood pressure and amount of alcohol consumption were negative and significant at the 1% level. The estimate for taking antihyperglycemic medications and health guidelines were negative and significant at the 5% level. Among the variables obtained from the BJSQ, the estimates for amount of work felt, fatigue and support from family and friends were positive and significant at the 1%, and the estimate for irritation was positive and significant at the 5% level. The estimates for controlling job and physical complaints were negative and significant at the 1% level, and those for usage of employee’s ability to work and suitability of the work were negative and significant at the 5% level. As all four operational sites were located in the northeastern region of Japan (cold and snowy in winter), the seasonal effects were significant at the 1% level. The effect of year was also significant and significant differences were observed among the sites at the 1% level.ConclusionSome physical and mental health conditions were strongly associated with long-term absenteeism. By improving these conditions, corporations could reduce the number of employee absence days. As absenteeism was costly for corporations due to replacement employees and their training costs to maintain operations, employers must be concerned about rising healthcare (direct and indirect) costs and implement investments to improve employees’ health conditions.LimitationsThis study’s results were based on only one corporation and the dataset was observatory. The employees were primarily operators working inside the building and most of them are healthy. Therefore, the sample selection biases might exist, and the results cannot be generalized to other types of jobs, working conditions, or companies. As medical checkups and the BJSQ are mandatory for most companies in Japan, the framework of this study can be applied to other companies. Although we used the BJSQ results, better mental measures might exist. Similar analyses for different corporations are necessary.

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