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Open Access
Article
Publication date: 7 June 2022

Wiebke 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…

2995

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.

Details

Journal of Service Management, vol. 33 no. 6
Type: Research Article
ISSN: 1757-5818

Keywords

Abstract

Details

International Journal of Bank Marketing, vol. 37 no. 4
Type: Research Article
ISSN: 0265-2323

Content available
Article
Publication date: 20 July 2021

Abhishek Behl and Justin Zuopeng Zhang

404

Abstract

Details

Young Consumers, vol. 22 no. 3
Type: Research Article
ISSN: 1747-3616

Open Access
Article
Publication date: 2 March 2023

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…

1497

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.

Details

New England Journal of Entrepreneurship, vol. 26 no. 1
Type: Research Article
ISSN: 2574-8904

Keywords

Open Access
Article
Publication date: 18 August 2021

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.

5854

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.

Details

International Journal of Gender and Entrepreneurship, vol. 14 no. 1
Type: Research Article
ISSN: 1756-6266

Keywords

Open Access
Article
Publication date: 28 October 2022

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…

1841

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.

Details

Journal of Economics, Finance and Administrative Science, vol. 27 no. 54
Type: Research Article
ISSN: 2218-0648

Keywords

Content available
Article
Publication date: 24 September 2019

Kate Westberg and Sarah Jane Kelly

336

Abstract

Details

Sport, Business and Management: An International Journal, vol. 9 no. 4
Type: Research Article
ISSN: 2042-678X

Open Access
Article
Publication date: 6 October 2021

Godfred Matthew Yaw Owusu

In this study, the author examines the effect of financial knowledge, financial attitude and responsible financial management behaviour on financial satisfaction and investigates…

17243

Abstract

Purpose

In this study, the author examines the effect of financial knowledge, financial attitude and responsible financial management behaviour on financial satisfaction and investigates the association between financial satisfaction and psychological wellbeing of individuals. The author examines these relationships having controlled for the influence of key demographic variables including age, gender, marital status, income level and employment status of respondents on the predicted relationships.

Design/methodology/approach

Data was gathered by means of a self-administered questionnaire to postgraduate business students from a large public university in Ghana. The hypothesized relationships of the study were tested using the Partial Least Square Structural Equation Modelling (PLS-SEM) technique.

Findings

The author shows from the structural model analysis using the bootstrapping procedure that financial knowledge, financial attitude and sound financial management behaviour have important implications on financial satisfaction levels of individuals. Further, the author finds financial satisfaction to be an important predictor of the psychological wellbeing of individuals.

Practical implications

The paper highlights the relevance of financial satisfaction on the psychological wellbeing of an individual and identifies some of the dominant factors that are associated with financial satisfaction.

Originality/value

This study examines the concept of financial satisfaction at the individual level and uniquely highlights the psychological implications of financial satisfaction.

Details

Journal of Humanities and Applied Social Sciences, vol. 5 no. 1
Type: Research Article
ISSN: 2632-279X

Keywords

Content available
Article
Publication date: 1 March 2005

Jill Kickul and Robert S. D'Intino

We examine the various components of entrepreneurial self-efficacy within the entrepreneurship literature from a measurement perspective. Two published entrepreneurial…

2477

Abstract

We examine the various components of entrepreneurial self-efficacy within the entrepreneurship literature from a measurement perspective. Two published entrepreneurial self-efficacy instruments are tested and compared. Additionally, we study how self-efficacy relates with many of the tasks and roles identified within the entrepreneurial new venture life-cycle. Our study suggests relationships between self-efficacy, perceived skills, and abilities to manage a new venture, and entrepreneurial intentions to start a new venture. We discuss relationships between entrepreneurship research and university teaching and make specific suggestions on how further work on improving measurement in entrepreneurship will benefit both research and teaching effectiveness.

Details

New England Journal of Entrepreneurship, vol. 8 no. 2
Type: Research Article
ISSN: 2574-8904

Content available
Article
Publication date: 1 March 2002

Gerry Segal, Dan Borgia and Jerry Schoenfeld

Social Cognitive Career Theory (SCCT; Lent, Brown, and Hackett 1994, 1996) proposes that career interests, goals, and choices are related to self-efficacy beliefs and outcome…

4793

Abstract

Social Cognitive Career Theory (SCCT; Lent, Brown, and Hackett 1994, 1996) proposes that career interests, goals, and choices are related to self-efficacy beliefs and outcome expectations. It suggests that peopleʼs self-efficacy beliefs and outcome expectations with regard to self-employment would predict their goals to become selfemployed. This study explores the ability of SCCT to predict goals for self-employment in a sample of 115 undergraduate business students. Results indicated that students with higher entrepreneurial self-efficacy and higher self-employment outcome expectations had higher intentions to become self-employed. These findings imply that educators and policy-makers may boost student entrepreneurial intentions by (1) enhancing studentsʼ confidence to succeed in an entrepreneurial career and (2) enhancing studentsʼ expectations of strong positive outcomes resulting from an entrepreneurial career

Details

New England Journal of Entrepreneurship, vol. 5 no. 2
Type: Research Article
ISSN: 2574-8904

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