Personal control and financial well-being among the elderly: Moderating role of the big five

Chhatwani, Malvika

doi:10.1016/j.paid.2021.111171

Cited by 11 publications

(7 citation statements)

References 26 publications

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“…Therefore, Swedish people are confident that their financial status will not be worse, but will be better. These findings are consistent with Chhatwani [58], who found that personal control, conscientiousness (long-term orientation), and openness to experience (indulgence) have a positive effect on financial well-being.…”

Section: Figure 6 Financial Situationsupporting

confidence: 91%

How Do National Cultures Affect Quality of Life in Europe During the COVID-19 Pandemic?

Koompai

Royer²

2022

Emerg Sci J

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Objectives: This study aimed to explore the six cultural dimensions of Geert Hofstede that affect perceptions of quality of life in 26 European countries during the COVID-19 pandemic (April 2020–March 2021): (1) Quality of life, (2) Democracy and trust, (3) Working during COVID-19, (4) Financial situation, (5) Support during COVID-19, and (6) Health care during COVID-19. Many studies are not conclusive on which dimensions of national culture affect the spread and death rate of COVID-19. The researchers, therefore, consider that studying the pandemic from the perception of quality can prevent its spread and contribute to the care and security of people affected by COVID-19. This study may be another way of providing information to those stakeholders. Method: To determine which aspects of culture affect the quality of life of Europeans during the COVID-19 pandemic, the researchers analyzed data through stepwise multiple regression analysis to predict the relationship between independent variables (cultural dimensions) and dependent variables (perceptions of the quality of life). Findings: It was found that during the COVID-19 pandemic, countries with higher power distance and higher uncertainty avoidance had a lower quality of life in several dimensions, mainly in Eastern European countries and Latin European countries (France, Italy, Portugal, and Spain). In the Nordic or Scandinavian countries with higher levels of indulgence, people were more satisfied with their quality of life in spite of the COVID-19 epidemic. Novelty/Improvement:The results may inform policy-makers and stakeholders on how national cultures have both positive (i.e., indulgent and long-term) and negative (high power distance and high uncertainty avoidance) effects on the quality of life of Europeans during the COVID-19 pandemic. There should be (1) short-term measures to provide equal economic measures and public health assistance to reduce anxiety (reduce high power distance and high uncertainty avoidance), (2) medium-term measures to promote education and training to prepare people for new modes of working in the future (decrease high uncertainty avoidance), and (3) long-term measures to cultivate cultures to save for the future and to be optimistic and happy, both mentally and physically (increase long term orientation and indulgence). Doi: 10.28991/esj-2022-SPER-02 Full Text: PDF

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Section: Figure 6 Financial Situationsupporting

confidence: 91%

How Do National Cultures Affect Quality of Life in Europe During the COVID-19 Pandemic?

Koompai

Royer²

2022

Emerg Sci J

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“…, 2019; Brenner et al. , 2020; Chhatwani and Mishra, 2021; Chhatwani, 2022; Fulford and Stavins, 2021; Newman et al. , 2021; Zamarro and Prados, 2021).…”

Section: Methodsmentioning

confidence: 99%

“…Currently, there are more than three hundred different surveys conducted by UAS. Due to the extensive nature of the data, many research studies have used this dataset (Bannier et al, 2019;Brenner et al, 2020;Chhatwani and Mishra, 2021;Chhatwani, 2022;Fulford and Stavins, 2021;Newman et al, 2021;Zamarro and Prados, 2021).…”

Section: Datamentioning

confidence: 99%

Mortgage delinquency during COVID-19: do financial literacy and personality traits matter?

Chhatwani

2022

IJBM

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PurposeMortgage delinquency has become a major crisis following the COVID-19 pandemic. This study explored mortgage delinquency antecedents, focusing on two individual-level factors: financial literacy and personality traits.Design/methodology/approachUsing a large sample of 2,511 consumers, we examined the direct effect of financial literacy and its interaction with personality traits to predict mortgage delinquency based on logistic regression analysis. We further provide several robustness tests to validate our findings.FindingsWe find that financially literate consumers are 6% less likely to delay their mortgage repayment during the COVID-19 pandemic. Moreover, personality traits such as neuroticism and extroversion positively and conscientiousness negatively moderate the given linkage between financial literacy and mortgage delinquency.Practical implicationsBanks and financial companies may devise relevant policies to reduce mortgage repayment by knowing the interplay between financial literacy and personality traits. Personality traits can be considered one of the parameters while sanctioning mortgages to prospective customers.Originality/valueOur research examines the linkage between financial literacy, personality traits and mortgage delinquency based on a large nationally representative sample. Our findings suggest that personality traits moderate the effect of financial literacy on mortgage delinquency.

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“…With a better understanding of personal finance management, employees are more likely to have better control over their finances (Adjei et al, 2023). This can reduce anxiety levels related to financial matters, increase financial stability and provide a greater sense of security (Chhatwani, 2022). Employees who feel more financially stable tend to be more satisfied with their jobs (Atalay & Edwards, 2022).…”

Section: Introductionmentioning

confidence: 99%

Financial Literacy-based HRM: Optimizing Human Resource Performance Through Financial Education

Rostini,

Siti Mariam,

Yana Ameliana

2023

ATESTASI

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The purpose of this study is to analyze the causality of the relationship between Financial Education, Availability of Human Resources for Financial Education, Financial Knowledge, Adoption of Financial Behavior, HR Performance, Employee Financial Productivity, Corporate Financial Welbeing. This study uses a quantitative approach which is then processed using smartpls as an analysis tool. The data collection method used an online questionnaire addressed to 268 respondents. The results of this study state that overall, this research illuminates the importance of individual financial behavior in an organizational context. By highlighting Adoption of Financial Behavior as the focal point, this study shows that individual financial behavior has a significant impact on the company's financial well-being, employee productivity, and overall human resource performance. Managerial implications affirm the need for greater investment in financial education in the workplace to shape positive financial behaviors and support the financial well-being of the firm. Meanwhile, the theoretical implications reinforce the conceptual basis of the role of financial education in shaping prudent financial behavior in an organizational context. With an emphasis on financial education and a better understanding of individual financial behaviors, management can strengthen the financial foundation of the firm, increase employee productivity, and improve overall human resource performance, forming a crucial step towards sustainable financial well-being for the organization.

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Personal control and financial well-being among the elderly: Moderating role of the big five

Cited by 11 publications

References 26 publications

How Do National Cultures Affect Quality of Life in Europe During the COVID-19 Pandemic?

How Do National Cultures Affect Quality of Life in Europe During the COVID-19 Pandemic?

Mortgage delinquency during COVID-19: do financial literacy and personality traits matter?

Financial Literacy-based HRM: Optimizing Human Resource Performance Through Financial Education

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