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1 – 10 of 939Wiebke Eberhardt, Thomas Post, Chantal Hoet and Elisabeth Brüggen
The authors develop and validate a conceptual model, the retirement engagement model (REM), to understand the relationships between behavioral engagement (retirement information…
Abstract
Purpose
The authors develop and validate a conceptual model, the retirement engagement model (REM), to understand the relationships between behavioral engagement (retirement information search), cognitive factors and engagement (e.g. beliefs and financial knowledge), emotional engagement (e.g. anxiety), and socio-demographic factors. Approach: The authors derive the REM through a three-step procedure: (1) an extensive literature review, (2) interactive feedback sessions with experts to confirm the model's academic and managerial relevance, and (3) an empirical test of the REM with field data (N = 583). The authors use a partial least squares (PLS) structural equation model and examine heterogeneity through a finite mixture model.
Design/methodology/approach
Around the globe, people are insufficiently engaged with retirement planning. The customer engagement literature offers rich insights into antecedents, outcomes, and barriers to engagement. However, customer engagement literature lacks insights into cognitive, emotional and behavioral factors that drive engagement in retirement planning, a utilitarian service context, which is important for financial well-being.
Findings
Beliefs such as perceived susceptibility, severity, benefits, barriers, and self-efficacy, together with trust and retirement anxiety, explain people's search for pension information. These factors can be used to define three clear, actionable segments of consumers.
Originality/value
The findings advance the customer engagement and transformative service research literature by generating insights on engagement with retirement planning, a utilitarian rather than hedonic service context that is especially relevant for financial well-being. The findings inform managerial practice and emphasize the relevance of including cognitive and emotional engagement factors that trigger behavioral engagement. The REM can help to improve pension communication. For example, the results indicate that marketers should stress the benefits of, rather than the barriers to, acquiring information.
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Minhajul Islam Ukil, Muhammad Shariat Ullah and Dan K. Hsu
Although few studies indicate that financial concerns matter to social entrepreneurs, the literature is unclear about the extent to which a financial motive affects the intention…
Abstract
Purpose
Although few studies indicate that financial concerns matter to social entrepreneurs, the literature is unclear about the extent to which a financial motive affects the intention to start a new social enterprise. Moreover, prior research suggests that the intention to start a new enterprise heavily depends on the societal context in which the enterprise operates. Therefore, this study aims to examine the seminal model of social entrepreneurial intention (SEI) developed by Hockerts (2017) in a different social context; additionally, it proposes a new antecedent of SEI – perceived financial security.
Design/methodology/approach
This study used two different measurement scales and samples (n = 436 and 241) in a developing country to validate the model and propose a new antecedent, i.e. the perceived financial security, of SEI. Furthermore, the authors employed the partial least square-structural equation model to test the hypotheses.
Findings
The results demonstrate that social entrepreneurial self-efficacy, perceived social support and perceived financial security directly predict SEI; they further mediate the relationship between prior experience and SEI. Consequently, the model by Hockerts is extended.
Originality/value
This study established perceived financial security as a strong antecedent of SEI, thereby offering a novel insight that a social entrepreneur can be motivated by potential financial concerns.
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Josep Llados-Masllorens and Elisabet Ruiz-Dotras
This study aims to determine the contribution of financial skills to entrepreneurial intentions among women involved in university education.
Abstract
Purpose
This study aims to determine the contribution of financial skills to entrepreneurial intentions among women involved in university education.
Design/methodology/approach
Clustering and logistic regression analyses were used to infer the determinants and motivators of entrepreneurial intention in a sample of women students at a Spanish online university.
Findings
Financial and numerical skills could play a significant role in boosting entrepreneurial culture, overcoming reticence and increasing awareness of business opportunities, particularly when women are motivated to increase their autonomy and income. The study offers meaningful implications for policymakers.
Research limitations/implications
Further research will be needed before these conclusions may be inferred to other settings and circumstances. Comparison with a similar sample of potential male entrepreneurs may also be necessary to deduce the influence of gender.
Practical implications
The introduction of certain financial content into the education system by governments and policymakers would produce remarkable results on entrepreneurship intention among women.
Social implications
Relational capital and positive social influences also contribute to mitigating the effects of risk aversion, one of the main barriers for potential female entrepreneurs.
Originality/value
The role of financial literacy in entrepreneurial intention among women has scarcely been addressed in academic research. The literature also has paid little attention to the analysis of what motivates women into entrepreneurship, and whether women who decide to embark on a business venture show different profiles. The aim of this study is to contribute to closing these gaps, exploring the effect of cognitive skills, personality traits, contextual factors and motivations.
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Raúl Armando Cardona-Montoya, Vivian Cruz and Samuel Arturo Mongrut
Our findings indicate that workers with more financial education were more prepared to face the negative effects on their finances from COVID. This ability reduces the probability…
Abstract
Purpose
Our findings indicate that workers with more financial education were more prepared to face the negative effects on their finances from COVID. This ability reduces the probability of becoming financially fragile and experiencing financial stress.
Design/methodology/approach
The authors applied a survey questionnaire to 856 Colombian adults and used principal component analysis to build an index for each factor. Then, the authors used a linear regression model with the indexes to test our hypotheses and verify our results using a structural equation model.
Findings
Our findings indicate that workers who have more financial education are more prepared to face the negative effects on their finances, which reduces the probability of becoming financially fragile and having financial stress.
Research limitations/implications
The authors found that there is no significant relationship between financial literacy and financial fragility, neither between financial literacy and financial stress, so a better financial education will not lower financial fragility and stress unless it is being applied by households through better financial preparedness.
Practical implications
It is important to highlight that the pandemic not only taught us to improve biosecurity measures but also that financial strength, ability to work remotely and income diversification were key factors in facing this adverse shock, the authors show that high levels of financial education have a positively relationship with the ability of individuals to manage their resources, so private and public institutions have to promote better financial education.
Originality/value
This is the first study that applies the four different indexes to an emerging country (i.e. Colombia), and the first one to create and use a financial stress index.
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