Young adults' financial well-being: current insights and future directions

She, Long; Waheed, Hassam; Lim, Weng Marc; Vahdati, Sahar

doi:10.1108/ijbm-04-2022-0147

Cited by 40 publications

(36 citation statements)

References 117 publications

(356 reference statements)

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“…In addition to that, past studies have also indicated positive associations between subjective financial knowledge, financial behaviour and financial well-being (Riitsalu and Murakas, 2019). Particularly, financial behaviour often acts as a mediator in the relationship between financial knowledge and financial well-being (Saurabh and Nandan, 2018;She et al, 2022b;Totenhagen et al, 2019). Thus, when there is a positive association between future time perspectives and financial well-being (Kooij et al, 2018;Rutledge and Deshpande, 2015;Yu et al, 2015), a novel mediating path through goal clarity, financial knowledge and responsible behaviours, is suggested to be examined.…”

Section: Responsible Financial Behaviour and Financial Well-beingmentioning

confidence: 99%

Section: Literature Review and Hypotheses Formulationmentioning

confidence: 99%

“…Financial behaviour is any behaviour relevant to money management and planning, such as cash, credit, borrowing, saving, investing and spending behaviours (She et al, 2022a;Xiao, 2008) (Hoffmann and Risse, 2020), to achieve higher levels of financial well-being and ultimately enhance financial stability and living standards (She et al, 2022b;Xiao and Porto, 2017). In this sense, this study looks at responsible financial behaviour in a broad sense with its impact on financial well-being.…”

Section: Responsible Financial Behaviour and Financial Well-beingmentioning

confidence: 99%

“…However, the existing research on millennials' financial well-being is either descriptive (Rey-Ares et al ., 2021; She et al ., 2022b) or conducted in developed countries (Rothwell et al ., 2016; Utkarsh et al ., 2020). Thus, an empirical study on millennials' financial well-being in developing economies is needed to test if the previous research findings in developed countries are relevant (Tomar et al ., 2021).…”

Section: Introductionmentioning

confidence: 99%

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Future time perspective and consumer well-being of millennials: implications for consumer resilience

She

Ray

2023

IJBM

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PurposeThe study investigated the relationship between future time perspective and financial well-being among Chinese working millennials and its serial mediators, such as financial goal clarity, subjective financial knowledge and responsible financial behaviour, to foster consumer resilience in the financial realm.Design/methodology/approachA total of 526 Chinese working millennials (Mage = 31.78) participated in the online survey in response to questions on demographic characteristics and items to measure the variables adopted in the research model. Covariance-based structural equation modelling (CB-SEM) and AMOS version 27 were used to test the research hypotheses.FindingsThe results revealed a positive correlation between future time perspective and financial well-being. Moreover, the results showed that financial goal clarity, subjective financial knowledge and responsible financial behaviour serially mediated the correlation between future time perspective and financial well-being.Practical implicationsThe findings provide implications for companies and policymakers to refine their intervention programmes to boost young millennials' future time perspectives in reinforcing their financial knowledge and financial goal clarity which in turn fosters their responsible financial behaviour in contributing to financial well-being in boosting their overall consumer resilience. Future studies should deepen the way in which the studied factors are leveraged as a tool to improve individuals' resilience in the economic realm.Originality/valueThe findings of this study shed light on the underlying mechanisms that drive and promote the financial well-being of Chinese working millennials.

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Section: Responsible Financial Behaviour and Financial Well-beingmentioning

confidence: 99%

Section: Literature Review and Hypotheses Formulationmentioning

confidence: 99%

Section: Responsible Financial Behaviour and Financial Well-beingmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Future time perspective and consumer well-being of millennials: implications for consumer resilience

She

Ray

2023

IJBM

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“…Furthermore, economic prosperity is a crucial predictor of overall well‐being (MacDonald & Douthitt, 1992; Netemeyer et al., 2018; She et al., 2022). Financial literacy protects consumer well‐being during a pandemic.…”

Section: Introductionmentioning

confidence: 99%

Does financial fragility affect consumer well‐being? Evidence from COVID‐19 and the United States

et al. 2023

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Financial fragility is of considerable concern for consumer well‐being. Besides unleashing a public health crisis, COVID‐19 also ignited a financial crisis and thus represents a natural event from the field to study financial well‐being. We maintain that well‐being is a corollary to one's financial situation. We investigate the linkage between financial fragility and well‐being and the moderating role of financial literacy and personality using US data. We find that financial fragility is negatively associated with well‐being. This pervasive phenomenon during a financial crisis has harmful consequences. We also find evidence of a differential impact of financial fragility on well‐being based on Agreeableness, Conscientiousness, and Neuroticism, supporting our argument that personality has varying degrees of explanatory and predictive power in terms of well‐being. Surprisingly, financial literacy does not modify this relationship, possibly due to the well‐being affecting an individual's cognition and emotions rather than financial knowledge. Our findings could aid policy makers and financial educators in devising timely strategies to deal with post‐crisis complications.

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The role of business and management in driving the sustainable development goals (SDGs): Current insights and future directions from a systematic review

Mahajan,

Kumar,

Lim

et al. 2024

Bus Strat Env

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The pursuit of sustainable development goals (SDGs) extends beyond governmental responsibility, demanding active engagement from businesses and managers. This study systematically reviews SDG‐related research within the fields of business and management to elucidate their roles in advancing this global agenda. By analyzing a corpus of pertinent studies from Scopus and Web of Science through bibliometric–content analysis, this study not only identifies publication trends, prominent contributors, theories, contexts, and methods but also uncovers the evolving roles of businesses and managers in driving the SDGs. The main themes emerging from this analysis include (1) forging sustainable partnerships, practices, and policies, reflecting businesses' role in stakeholder collaboration and policymaking; (2) addressing contemporary sustainability challenges like artificial intelligence and the dynamics of emerging economies; (3) balancing economic advancement with environmental sustainability, highlighting businesses' impact on ecological footprints and the importance of green finance; (4) integrating financial development considerations with ecological responsibility; (5) promoting equity and well‐being, underscoring the influence of businesses and managers on societal welfare; and (6) shaping governance frameworks for sustainable production and consumption. These themes collectively paint a comprehensive picture of how business and management practices are crucial in achieving the SDGs, offering insights into current contributions, and charting potential pathways for future research and implementation.

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Young adults' financial well-being: current insights and future directions

Cited by 40 publications

References 117 publications

Future time perspective and consumer well-being of millennials: implications for consumer resilience

Future time perspective and consumer well-being of millennials: implications for consumer resilience

Does financial fragility affect consumer well‐being? Evidence from COVID‐19 and the United States

The role of business and management in driving the sustainable development goals (SDGs): Current insights and future directions from a systematic review

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