Financial Planning for Retirement: The Mediating Role of Culture

Ghadwan, Ahmad Saleh; Ahmad, Wan Marhaini Wan; Hanifa, Mohamed Hisham

doi:10.3390/risks10050104

Cited by 12 publications

(14 citation statements)

References 71 publications

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“…These findings are similar to those of Allgood and Walstad (2016). Moreover, these results suggest that the underlying mechanisms through which financial knowledge attenuates FV may differ between objective and self-perceived financial knowledge (Allgood & Walstad, 2016; Ghadwan et al, 2023).…”

Section: Multivariate Analysessupporting

confidence: 79%

A Comprehensive Approach to Measuring Financial Vulnerability and Literacy: Unveiling Connections

Fernández-López,

Álvarez-Espiño,

Rey-Ares

2023

SAGE Open

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In the aftermath of the 2007–08 financial crisis, the worsening financial conditions of households increased concerns about their financial vulnerability (FV). In this context, policymakers embraced the notion of financial knowledge to foster sound financial behaviors among individuals and households, aiming to mitigate the detrimental effects of FV on households’ financial wellbeing and the overall economy. However, the relationship between FV and financial literacy remains inconclusive. This lack of definitive findings may stem from limitations in measuring FV and narrow focus on specific dimensions of financial literacy. This paper analyzes the relationship between financial literacy and FV by creating a comprehensive measure of (the level of) FV and considering different dimensions of financial literacy. Using a sample of 8,554 individuals in Spain obtained from the 2016–17 Survey of Financial Competences, we construct a continuous measure of FV by using Nonlinear Principal Components Analysis (NLPCA). Then, we employ OLS and ordered probit regressions to examine the potential association between different dimensions of financial literacy and FV. The findings indicate that the level of FV is negatively related to self-perceived financial knowledge, while no statistically significant relationship is found regarding objective financial knowledge. Evidence also reveals that “highly financially included” individuals are more likely to exhibit financial resilience. These findings highlight the need for the development of financial education initiatives that are action-oriented.

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Section: Multivariate Analysessupporting

confidence: 79%

A Comprehensive Approach to Measuring Financial Vulnerability and Literacy: Unveiling Connections

Fernández-López,

Álvarez-Espiño,

Rey-Ares

2023

SAGE Open

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“…This sample was used as in the A. Ghadwan et al (2022b) study. This specific sample is chosen for the following reasons.…”

Section: Methodology Designmentioning

confidence: 99%

Financial Planning for Retirement: The Moderating Role of Government Policy

2023

Self Cite

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The objective of this study is to examine the role of financial self-efficacy (FSE), retirement goal clarity (RGC), and government policy (GP) on financial planning for the retirement (FPR) behavior of public university employees based on the CWO model for retirement. Also, to examine the moderating role of GP on the relationship between FSE, RGC, and FPR. Primary data was gathered during the COVID-19 pandemic from mid-July 2020 until the end of January 2021 using a non-probability convenience sampling approach involving 525 respondents. The data were analyzed using the Structural Equation Modelling (SEM) technique. The Confirmatory Tetrad Analysis method (CTA-PLS) is used to determine the formative/reflective type of study variables. The results directly show the significant impact of the FSE, RGC, and GP on FPR. Indirectly, for those with a clear retirement goal, the perceived GP moderates its relationship with FPR. Previous research has examined FSE and RGC in FPR without considering the effect of GP.

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“…In summary for the second research question, it is evident that existing evidence from China has shown that financial education should aim to build confidence in one’s knowledge, and abilities and the future may be a more effective strategy for improving adolescents’ financial literacy (Aulia & Baskoro, 2019; A. Ghadwan et al, 2022; Naufaldi & Baskoro, 2019).…”

Section: Bibliographic Coupling Based On Sources Of Journalsmentioning

confidence: 99%

Leading Generation Z’s Financial Literacy Through Financial Education: Contemporary Bibliometric and Content Analysis in China

Hong Shan,

Cheah,

Leong

2023

SAGE Open

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There is a growing awareness of the importance of financial education and literacy in personal economic success, yet not many Generation Z are proficient in this area. The lack of understanding can lead to consequences such as not recognizing the need for greater retirement savings, making poor spending decisions, or when overpaying off high-interest debt. In addition, many of the studies on financial education and literacy among Generation Z remain untapped in the context of China. As a result, the researcher emphasizes the evidence by mining data from the Web of Science database and analyzing the data using bibliometrics and content analysis. Contemporary research on financial education and literacy in the web of science has discovered that it is trending strongly across fields like environmental science, healthcare, energy, and economics, according to bibliometric data. Further investigation has uncovered the important writers, journal sources, and universities in China that are creating such knowledge. Subsequently, the content analysis on the focused area has yielded results related to recent findings from key authors, and how their studies describe the socio-demographic and psychological behavior of Generation Zs. As an implication, China’s academic research reveals that Generation Zs’ subjective and objective financial education may be absorbed into their financial self-beliefs, which affects how they handle their finances. Thus, financial education is instrumental to help them set clear financial goals and plan for the future.

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Financial Planning for Retirement: The Mediating Role of Culture

Cited by 12 publications

References 71 publications

A Comprehensive Approach to Measuring Financial Vulnerability and Literacy: Unveiling Connections

A Comprehensive Approach to Measuring Financial Vulnerability and Literacy: Unveiling Connections

Financial Planning for Retirement: The Moderating Role of Government Policy

Leading Generation Z’s Financial Literacy Through Financial Education: Contemporary Bibliometric and Content Analysis in China

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