Many countries are establishing national programs to increase their citizens' family economic well-being. However, the concept of family economic well-being is still in its infancy, with only a few models established for developing countries. Thus, to create and implement effective policies, it is necessary to comprehend the concept family economic well-being from a multidisciplinary and multi-dimensional perspective, especially for a developing country like Sri Lanka. In the current study, path analysis was performed to examine the drivers that affect family economic well-being of coconut growers in Sri Lanka. Data from 400 respondents were analyzed empirically to validate the hypothesized relationships using the PLS-SEM approach. The findings provide support for the relationships between money attitude, technology adoption, financial behavior, financial knowledge, and family economic well-being which explained 91.2% of variance in family economic well-being. Understanding the paths that lead to better individual economic well-being has the potential to aid in successful policymaking, and curriculum design to assist individuals' efforts to achieve greater family economic wellbeing.
Concerns regarding the retirement experience of pre-retirees are growing globally. Numerous discussions on factors affecting retirement confidence can be found in academia. The present study employed structural equation modelling in the attempt to examine the mediating role of financial management practices on the relation between financial literacy and retirement confidence. A mediation model was tested on a sample of 626 Malaysian women working in government agencies. Significant relations were found between financial literacy, financial management practices, and retirement confidence. Earlier analysis revealed that the relation between financial literacy and retirement confidence is spurious, as the relation is fully mediated by financial management practices. The result supports the Family Resource Management Theory introduced by Deacon and Firebaugh (1988). Implications of the findings and suggestions for future studies are offered.
Financial well-being refers to one's overall satisfaction with their current financial condition, and it plays a significant part in young adults' overall success as well as their ability to overcome psychological health concerns. It has become a crucial concern for individuals, households, societies, and countries in recent years, yet research on the subject is sparse and dispersed among fields. As a result, the current research assessed an empirical financial wellbeing model based on Malaysian young adults' financial knowledge, financial socialization, financial behavior and financial strain. A multi stage random sampling method was performed to draw a representative sample of Malaysian young adults, and 651 duly filled responses were received through the self-administered questionnaire. As stated by the multiple regression results, 16.1% of the total variance of financial well-being was clarified by the model. All four financial well-being determinants examined (financial knowledge, financial socialization, financial behavior, financial strain) were revealed significant, and only financial strain had a negative relationship with financial well-being. Therefore, current study has both the theoretical and practical contributions, and offers experts with actionable insights regarding the determinants of young adults' financial well-being when designing policies to uplift their financial well-being over time.
The issue of sustainability is increasingly becoming the focus of research activities. In order to achieve sustainability, various parties need to play their role, including the adolescents. However, environmental issues appear to be more critical nowadays. The aim of this study was to determine the relationship between the perception of sustainable lifestyle and sustainable consumption practice among urban adolescents in Selangor, Malaysia. The Structural Equation Modelling analysis was able to measure the impact of mediator sustainable consumption attitude on the relationship between perception of sustainable lifestyle and sustainable consumption practice. Finding of the study showed that sustainable consumption attitude is a partial mediator of the relationship between perception of sustainable lifestyle and sustainable consumption practice. Through this study, factors affecting sustainable consumption practice among adolescents can be identified in detail, subsequently can be used as input in the implementation of sustainable consumption practice programs to help adolescents practice sustainable consumption.
Bankruptcy and its impact on the quality of life among Malaysian civil servants has received considerable attention from many authorities. The purpose of this study is to examine the determinant factors of civil servants’ bankruptcy probability in Malaysia. The results of this study can be used to predict the possibility of bankruptcy. The knowledge of this early warning model may help to prevent the consequences or reduce the possibility of bankruptcy among Malaysian civil servants. It can be also used for a better understanding of the relationship on bankruptcy probability by highlighting the determinant factors such as asset ownership, attitude towards debt, and financial management practices. Samples were selected by using multi-stage cluster sampling technique among civil servants in public sectors. A total of 399 completed questionnaires were analysed using logistic regression to identify the probability of bankruptcy among the civil servants. The results identified that the possibility of bankruptcy is significantly determined by asset ownership, attitude towards debt, and financial management practices.
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