PurposeThe current study aims to identify the impact of financial literacy, financial risk-tolerance, financial socialization, financial stress, socio-demographic factors and financial behavior on the individual financial wellbeing residing in India's National Capital Region (NCR) region. Understanding financial wellbeing is crucial as it helps individuals understand personal finance better and develop a more favorable financial attitude. The information can depict individuals' financial skills, knowledge and attitudes toward achieving financial wellbeing in emerging economies.Design/methodology/approachThrough self-administered survey questionnaires, data are obtained using convenience sampling from 420 (394) respondents regarding individual financial wellbeing levels in India. The survey responses were collected between May 2022 and July 2022. The authors use the “partial least squares structural equation modeling” (PLS-SEM) technique to test the research hypotheses.FindingsThe present study's outcome confirms that five determinants, such as financial literacy, financial risk-tolerance, financial socialization, financial stress and socio-demographic factors, significantly influence the financial behavior of individuals. Further, financial behavior, financial literacy, financial risk-tolerance and financial socialization significantly influence financial wellbeing. However, financial stress and socio-demographic factors have statistically insignificant impacts on financial wellbeing.Originality/valueThe present study is exclusive in which an effort is being made to acquire relative importance on financial behavior and an individual's financial wellbeing. The present paper will help the government, financial services providers, and policymakers in offering innovative economic schemes and designing policies that may enhance the financial wellbeing of individuals. Finally, this article provides the road map for future research in this field.
PurposeThis article intends to explore critical factors that affect the adoption of organic farming in emerging economies. The authors respond to the calls from policymakers, non-government organizations, business firms and scholars to improve the farmers' awareness of the negative impact of synthetic chemical pesticides, phosphorus, potassium fertilizers and mineral nitrogen used in traditional farming.Design/methodology/approachThrough self-administered survey questionnaires, responses were obtained from 397 farmers (conventional) regarding organic farming adoption in Haryana (India). The survey responses were collected between October 2022 and December 2022. The authors apply the “partial least squares structural equation modeling” (PLS-SEM) to test the framed hypotheses.FindingsThe present article demonstrates six critical determinants of organic farming adoption, i.e. behavioral, cultivation, economic, governmental, marketing, and social factors. These six factors drive 71.0% (R2) variation in organic farming adoption. Governmental factors have a positive but insignificant influence on organic farming adoption. Interestingly, the impact of behavioral and cultivation factors is crucial per path coefficient values.Originality/valueFor the first time, the authors conducted a study on organic farming adoption in Haryana that lies in its context-specific implementation, utilization of localized knowledge and expertise, regional policy support, agricultural diversification and community participation. Future research can build upon by adding agriculture scientists to the study to respond to the cost, quality of the crop and impact of socio-economic policies as moderators/mediators on adoption decisions.
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