Search results

1 – 4 of 4
Per page
102050
Citations:
Loading...
Access Restricted. View access options
Article
Publication date: 22 February 2021

Benard Alkali Soepding, John C. Munene and Laura Orobia

Little is known about how self-determination and financial attitude are linked to retirees’ financial well-being in Nigerian context. Drawing from the theory of reasoned action…

377

Abstract

Purpose

Little is known about how self-determination and financial attitude are linked to retirees’ financial well-being in Nigerian context. Drawing from the theory of reasoned action, the purpose of this paper is to examine the connection of self-determination, financial attitude and financial well-being. Also, this paper examines the mediating role of financial attitude between self-determination and financial well-being.

Design/methodology/approach

A cross-sectional study was used in collecting quantitative data from 399 retirees drawn from North Central Nigeria. Hypotheses are tested through structural equation modelling using the Analysis of Moments of Structures (AMOS) software, version 23.

Findings

Results from the research indicate that financial attitude serves as a trajectory through which self-determination leads to financial well-being. Therefore, self-determination and financial attitude significantly contribute to the financial well-being of retirees.

Research limitations/implications

The use of a cross-sectional design may undermine the causal conclusions of the findings. This study adds to existing research on financial well-being by showing that financial attitude is significant in attaining financial well-being and how self-determination variable impact financial well-being.

Originality/value

This study contributes to literature by establishing the mediating role of financial attitude in the relationship between self-determination and financial well-being. Thus, instead of concentrating on only the direct effects of self-determination and financial well-being, the indirect effect of financial attitude is tested.

Details

Working with Older People, vol. 25 no. 2
Type: Research Article
ISSN: 1366-3666

Keywords

Access Restricted. View access options
Article
Publication date: 16 March 2022

Benard Alkali Soepding

This study aims to determine the contribution effect of learning experience on the financial well-being of government retirees in North-Central Nigeria. Special emphasis was…

75

Abstract

Purpose

This study aims to determine the contribution effect of learning experience on the financial well-being of government retirees in North-Central Nigeria. Special emphasis was placed on the contribution effect of the elements of the learning experience.

Design/methodology/approach

This study used correlational and cross-sectional research designs based on a questionnaire survey of 376 retirees drawn from North-Central Nigeria. A confirmatory factor analysis was used to identify the factors of learning experience using the Analysis of Moments of Structures (AMOS) software, version 23. The contributory effect of the confirmed sub-domains of learning experience on the financial well-being of retirees was established using hierarchical regression.

Findings

Confirmatory factor analysis results confirmed that financial knowledge, financial planning and financial self-efficacy are factors of learning experience. Although the sub-domains of the learning experience are significant predictors of financial well-being, financial knowledge has a significant effect on financial well-being, followed by financial planning and financial self-efficacy. The sub-domains of learning experience collectively explain about 46.5% of the variance in the financial well-being of retirees in North-Central Nigeria.

Originality/value

Unlike most other documentation on financial well-being, which has focused on the general effect of the learning experience as a global variable, this study explores the role played by the three dimensions of learning experience and methodologically isolates the contribution of each dimension with respect to retirees in developing countries. As such, we uncover the reality that all the sub-domains of the learning experience are significant for the financial well-being of retirees in a developing country context, though in varying effects.

Details

Working with Older People, vol. 27 no. 1
Type: Research Article
ISSN: 1366-3666

Keywords

Access Restricted. View access options
Article
Publication date: 27 January 2021

Benard Alkali Soepding, John C. Munene and Dagwom Yohanna Dang

The purpose of this paper is to investigate the financial well-being of often-neglected group in the society. The authors examined the role of risk management and social capital…

452

Abstract

Purpose

The purpose of this paper is to investigate the financial well-being of often-neglected group in the society. The authors examined the role of risk management and social capital in the financial well-being of the retirees in Nigeria.

Design/methodology/approach

A quantitative method of research is used with a six-point Likert scale questionnaire. A survey was conducted to 376 retirees from public organizations to determine the perception of their financial well-being in post-retirement era. The sample population is selected using the simple random sampling technique. An exploratory factor analysis, confirmatory factor analysis and structural equation modeling are used to analyze the data.

Findings

The results indicate that both risk management and social capital are significant predictors of retirees’ financial well-being in the Nigeria context. All respondents have a good education background.

Research limitations/implications

This study focused on retirees who have worked in public organizations in Nigeria. Thus, it is likely that the results may not be generalized to other settings. The results show that to promote financial well-being among retirees, the focus should be put mainly on individual risk management and maintaining good social capital.

Originality/value

The present study is first of its kind that focuses on contributory role of risk management and social capital in influencing the financial well-being of retirees in Nigeria. Findings make a novel contribution to retirees’ financial well-being literature by clarifying the significant role played by risk management and social capital in promoting the financial well-being of retirees in a developing country, specifically in Nigeria.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 16 no. 2
Type: Research Article
ISSN: 1750-6204

Keywords

Access Restricted. View access options
Article
Publication date: 8 February 2021

Benard Alkali Soepding, John C. Munene and Ernest Abaho

This study aims to review the relationship between financial self-efficacy, financial attitude and financial well-being from an individual perspective. Individual decision-making…

385

Abstract

Purpose

This study aims to review the relationship between financial self-efficacy, financial attitude and financial well-being from an individual perspective. Individual decision-making concerning finance is influenced by a number of factors; hence, it becomes pertinent to explore these factors. Financial well-being is an emerging field in finance that has drawn the attention of researchers and it explains individual perception on his/her ability to meet current and future financial obligations.

Design/methodology/approach

To achieve the research objectives, the study used cross-sectional research design and data were collected from retirees in the north-central Nigeria. Statistical package for social science (SPSS) version 23 was used to analyze the data. Descriptive statistics, correlations and regression analyses were generated to explain the relationship between financial self-efficacy, financial attitude and financial well-being of retirees in Nigeria.

Findings

The results revealed significant relationship between financial self-efficacy, financial attitude and financial well-being of retirees. Furthermore, the results also indicated that educational qualification has significant effects on the financial well-being of retirees in Nigeria.

Research limitations/implications

The study used cross-sectional design, hence, leaving out longitudinal study. Future research using longitudinal data that explore behaviors of retirees over time could be suitable. In addition, only quantitative data were used to measure constructs under study and use of qualitative data were ignored. Further studies using qualitative data are possible.

Originality/value

To the best of the authors’ knowledge, this is the first attempt to examine the relationship between financial self-efficacy, financial attitude and financial well-being of the retirees in a developing country situation. These factors are missing in finance literature in promoting financial well-being, especially in Nigeria.

Details

International Journal of Ethics and Systems, vol. 37 no. 2
Type: Research Article
ISSN: 2514-9369

Keywords

1 – 4 of 4
Per page
102050