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Examining theories, mediators and moderators in financial well-being literature: a systematic review and future research agenda

Ifra Bashir (Department of Management Studies, University of Kashmir, Srinagar, India)
Ishtiaq Hussain Qureshi (Department of Management Studies, University of Kashmir, Srinagar, India)

Qualitative Research in Organizations and Management

ISSN: 1746-5648

Article publication date: 20 July 2023

Issue publication date: 7 November 2023

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Abstract

Purpose

The United Nation's 2030 mission provides scholars, practitioners and governments with a valuable framework to direct their research in a way that tackles societal issues. Towards this aim, some key Sustainable Development Goals focus on improving the well-being of humans and societies; however, the literature dealing with individual financial well-being is still underdeveloped and fragmented. To address this significant research gap, this paper reviews the literature on financial well-being. It provides an in-depth analysis of different theories, mediators and moderators employed in financial well-being studies to deepen the theoretical framework and widen the scope of financial well-being research.

Design/methodology/approach

Using the Web of Science Core Collection database (WoS), the literature on financial well-being was reviewed (n = 32) following a systematic review approach.

Findings

Findings revealed that (a) there is a limited application of theories in financial well-being studies (n = 19) with the majority of studies (n = 15) employing only one theory; (b) twenty-one different theories were used with the maximum number of theories employed by any study was four; (c) the theory of planned behavior was the most commonly used (n = 4); (d) While a reasonable number of studies examine mediators and moderators in antecedents-financial well-being relationships, studies examining mediators and moderators relationships in financial well-being-outcomes relationships are limited. Based on these findings, this review identified a need for future theory-based financial well-being research and examining the role of underlying and intervening mechanisms in antecedents-financial well-being-outcomes relationships.

Originality/value

The study concludes by suggesting some relevant theories and prospective variables that can explain potential financial well-being relationships. To the best of the author's knowledge, this is the first review on the use of theories, mediators and moderators in financial well-being studies.

Keywords

Citation

Bashir, I. and Qureshi, I.H. (2023), "Examining theories, mediators and moderators in financial well-being literature: a systematic review and future research agenda", Qualitative Research in Organizations and Management, Vol. 18 No. 4, pp. 265-290. https://doi.org/10.1108/QROM-04-2022-2314

Publisher

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Emerald Publishing Limited

Copyright © 2023, Emerald Publishing Limited

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