Many countries are taking steps to establish national strategies to improve the financial well-being (FWB) of their people. However, FWB as a term is still in the infancy stage with a handful of models developed in the context of developed countries. Thus, there is a need to understand FWB from a multi-disciplinary and multi-dimensional approach to draft and implement efficient strategies, especially in the context of developing countries like India. In this study, we have performed path analysis to identify the specific constituents of financial literacy, financial behavior (FinB), and personality traits that affect the FWB (perceived and objective) of an individual in Indian context. Survey responses of 349 respondents are analyzed to empirically validate the proposed relationships using the partial least squares structural equation modeling (PLS-SEM) approach. The analysis mostly provides support to existing literature and challenges some. The findings provide support to 12 out of 17 tested effects with eight hypotheses. The understanding of pathways that lead to increased FWB of individuals has the potential to facilitate effective policy-making and designing of curriculum to support efforts of individuals toward higher FWB and responsible FinBs.
<p>In today’s dynamic business environment, for companies to exist, they must continuously look for areas for improvement and gain competitive advantage. It therefore becomes quintessential for companies to know which factors can have a positive effect on the company’s performance. The purpose of this article is thus to explore if there a relationship between the HR expenses of an Indian company and its financial performance and is this impact positive enough to motivate these companies to augment such efforts in improving the HR management practices. For, this purpose, data on expenditure on human resource and profit after tax (PAT) for BSE- SENSEX 30 companies was extracted for the period of10 years. In order to test the hypothesis of this study, correlation and regression analyses were performed. Results of correlation revealed that HR expenditures are positively related to Firms performance. The findings from regression analysis revealed that HR expenditure have statistically significant effect on a firm’s financial performance.</p>
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.