A.H.M. Belayeth Hussain and Noraida Endut
The purpose of this study was to explore the contributions of decent work situation to work–life balance of small entrepreneurs. The survey was conducted to uncover the degree and…
Abstract
Purpose
The purpose of this study was to explore the contributions of decent work situation to work–life balance of small entrepreneurs. The survey was conducted to uncover the degree and magnitude of essential decent work indicators that can aid the work–life balance situation of small ventures.
Design/methodology/approach
The study utilized a survey research design and used a five-point Likert type questionnaire to investigate the research questions. Each construct of the scale has its corresponding items, which were measured specifically. To analyze the latent variables, partial least square (PLS)–structural equation modelling with Smart PLS application was used.
Findings
The findings of this study reveal that social dialogue and stability and security of enterprise have the most significant effects in ensuring work–life balance of an enterprise. Additionally, social dialogue among entrepreneurs has influence in maintaining decent working hours and fair treatment at workplace.
Originality/value
The value of this study lies in exploring a new dimension of analyzing working conditions in informal sector economy such as small enterprises. Because this research aims to study ventures that are financed by the microcredit institution, whether social financing plays a role in improving work–life balance situation through empowering decent working conditions can be investigated.
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Bomikazi Zeka and Abdul Latif Alhassan
While the extant literature has explored issues related to the access, usage and availability of financial services, the ability of households to withstand financial adversities…
Abstract
Purpose
While the extant literature has explored issues related to the access, usage and availability of financial services, the ability of households to withstand financial adversities, particularly those living under economically vulnerable conditions, requires further attention. The paper presents a gendered analysis of financial resilience behaviour in South Africa.
Design/methodology/approach
Using a nationally representative sample of 4,880 households, this paper constructs a financial resilience behaviour index (FRBI) covering savings, credit, insurance, and retirement planning behaviours. The gendered effect of demographic characteristics on financial resilience is examined using the ordinary least square and seemingly unrelated regression techniques.
Findings
The results show that low levels of financial resilience were present across the sample with insurance observed to be the greatest driver of financial resilience, followed by retirement planning, savings and credit respectively. Furthermore, the analysis highlights that a gender gap in financial resilience exists as men are characterized with higher financial resilience behaviour compared to women. The results also suggest that employed women and women with higher levels of education are associated with greater financial resilience.
Practical implications
Based on these results, improving access to higher education and employment opportunities for women will enhance their financial resilience and contribute towards addressing SDG (5) on gender equality.
Originality/value
As far as the authors are aware, this paper presents the first empirical analysis of the gender gaps in socio-demographic characteristics that explain financial resilience in South Africa.
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Tehzeeb Sakina Amir and Rabia Sabri
Financial inclusion is more than just granting access to financial services; it involves fostering individuals’ overall financial health and prosperity. Financial inclusion has…
Abstract
Financial inclusion is more than just granting access to financial services; it involves fostering individuals’ overall financial health and prosperity. Financial inclusion has gained significant importance for policymakers and academia in the preceding two decades. It encourages individuals by extending ownership of their financial situation and empowering them to make well-informed decisions regarding their future. The literary work highlights the importance of financial inclusion in promoting prosperity and progress in society. Furthermore, the psychological effects of financial inclusion are addressed with an emphasis on reducing anxiety and stress associated with accessing necessary financial resources and increasing experiences of financial assurance and trust. Finally, the current condition of financial inclusion and ongoing initiatives to improve it is discussed with a regional focus on Asia. The idea of the empowered consumer is introduced, along with a discussion of how financial inclusion may enlighten customers, making them more knowledgeable and engaged members of the financial market. Finally, the conclusion presents a global perspective of underdeveloped nations, emphasizing the imperative requirement for financial integration in these places and the potential benefits it can provide. The chapter provides a comprehensive understanding of financial inclusion, its significance, and its psychological effects on people and their communities, particularly in Asia and developing nations.
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Azra Zaimovic, Adna Omanovic, Minela Nuhic Meskovic, Almira Arnaut-Berilo, Tarik Zaimovic, Lejla Dedovic and Anes Torlakovic
The purpose of this study is to measure financial inclusion (FI) and to examine the role of digital financial literacy (DFL) and its components, and various socio-demographics in…
Abstract
Purpose
The purpose of this study is to measure financial inclusion (FI) and to examine the role of digital financial literacy (DFL) and its components, and various socio-demographics in relation to FI. In addition, the mediating effect of digital financial attitudes (DFA) on the relationship between digital financial knowledge (DFK) and digital financial behaviour (DFB), as well mediating effect of DFA and DFB on the relationship between DFK and FI, is being explored.
Design/methodology/approach
Using a cross-sectional research design, we utilize a dataset from the survey of adults’ financial literacy in Bosnia and Herzegovina, collected from the representative sample of 1,096 adults in 2022. The main methodology relies on logistic and ordinal logistic regression analyses and PROCESS for mediation analyses.
Findings
The findings suggest that the effect of DFK on DFB is partially mediated by DFA. In addition, the effect of DFK on FI is fully mediated through three pathways: DFA, DFB, and DFA and DFB in serial mediation. Age, education, employment status and residence are significantly related to FI. Internet access is significant only for FI scores but not for adults’ banking status. Although women are almost twice as unbanked as men, we find no gender-based differences in financial product holdings, FI or adults’ banking status.
Practical implications
There is a need to enhance DFK and DFA to enable adults to use financial products. Financial institutions could use our results in designing and promoting their services.
Social implications
Policy implications are seen in the need for developing national strategies for financial education, with an emphasis on strengthening DFL, especially DFK and DFA, which will enhance the formal FI of adults. Also, governments should work on expanding Internet access.
Originality/value
The results make a contribution to the theory of planned behaviour. They contribute to the limited empirical evidence of the mediating role of DFA in relationship to DFB, as well as the mediating role of DFA and DFB in relationship to FI.
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Amrita Kulshreshtha, Sk Raju, Sai Manasa Muktineni and Devlina Chatterjee
The purpose of this study was to investigate the relationship between income shock suffered during the coronavirus pandemic and subsequent financial well-being (FWB) of Indian…
Abstract
Purpose
The purpose of this study was to investigate the relationship between income shock suffered during the coronavirus pandemic and subsequent financial well-being (FWB) of Indian adults, mediated by financial resilience (FR) and psychological resilience (PR).
Design/methodology/approach
The authors propose a conceptual model for the relationship between income shock and FWB, with FR and PR as mediator variables. The authors consider four dimensions of financial resilience: economic resources, financial inclusion, financial knowledge and social capital. This study uses a unidimensional scale for PR. Data were collected from 370 respondents from 11 cities across India. Structural equation models were built to test the proposed hypotheses.
Findings
Income shock was negatively associated with FWB. Estimated path coefficients for FR and PR were statistically significant and confirmed a mediating role. Among the four dimensions of financial resilience, only economic resources were positively associated with FWB. The mediation relation between economic resources and FWB was larger than PR.
Research limitations/implications
Since convenience sampling was used to collect data, the results of this study are indicative but not generalizable.
Social implications
For individuals who suffered income shocks during the pandemic, adequate economic resources are crucial for FWB. Governmental disbursements, personal savings and medical or life insurance could provide an adequate safety net.
Originality/value
There are no extant studies that examine the association between income shocks and FWB in the pandemic, and this study contributes to the literature.
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Hardeep Singh Mundi and Shailja Vashisht
The current study is to examine the association between cognitive abilities and financial resilience among millennial single parents. This study examines the role of cognitive…
Abstract
Purpose
The current study is to examine the association between cognitive abilities and financial resilience among millennial single parents. This study examines the role of cognitive abilities on financial resilience after controlling for key demographic variables – gender, age, university degree, employment status and staying with parents.
Design/methodology/approach
Using the ordered logit regression approach, the authors analyzed results for 395 single parents (237 single mothers and 159 single fathers) aged 31 to 40 in India. Financial resilience is measured using economic resources, financial resources, financial knowledge and behavior, and social capital. The authors further provide several robustness tests to validate their findings. The results are controlled for state-fixed effects.
Findings
The authors find a significant impact of single parents' cognitive abilities on their financial resilience. This study also found that gender, age, university degree, employment status and staying with parents influence single parents' financial resilience. Single mothers are found to have higher levels of both cognitive abilities and financial resilience scores than single fathers.
Practical implications
Financial institutions, marketers and financial advisors can find innovative ways to increase the financial resilience of single parents by improving their cognitive ability. Also, policymakers should focus on interventions to increase single parents' education level to increase their financial resilience and provide policy support to those without any parental support system.
Originality/value
This study extends the literature on financial resilience in two directions – by establishing a relationship between cognitive abilities and financial resilience and studying the financial resilience of a vulnerable societal section-millennial single parents. The study also extends the literature on single parents' financial vulnerability by establishing a relationship between key demographic variables and their financial resilience.