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This study aims to examine the association between parental financial socialization and life satisfaction and the mediating roles of desirable financial behavior in the association between parental financial socialization and life satisfaction of college students in India. Furthermore, this research also explores the moderating effects of parents’ socioeconomic characteristics (education, income and professions) in the association between parental financial socialization and desirable financial behavior.

A sample of 1,161 college students was collected in India. Parental financial socialization is measured by direct parental teaching in this study. The first stage moderated mediation model is performed to examine the direct and indirect effects through financial behavior of parental financial on life satisfaction as well as the moderating role of parents’ socioeconomic characteristics.

The mediation analysis shows that parental direct teaching is positively associated with young adults’ financial behavior, which in turn contributes to their life satisfaction. Furthermore, this study also finds negative moderation effects of parental education on the association between parental direct teaching and children's financial behavior.

This study extends the knowledge of family financial socialization in the context of India. Moreover, it examines the mediation roles of desirable financial behavior in the association between parental direct teaching and children’s life satisfaction. Furthermore, this paper explores the potential influence of parents’ education, income and professions on children’s financial behavior and life satisfaction.

This study aims to evaluate Netemeyer and colleagues' much cited financial well-being scale in Brazil and India and compare responses from different demographics. It also compares the results using two analysis techniques, item response theory (IRT) and confirmatory factor analysis (CFA).

A total of 994 survey responses from Brazil and 1,081 from India were collected. IRT and CFA models were used to analyse the data.

The results demonstrate the two-dimensional structure of the financial well-being scale and show that different items are differentially useful in measuring the construct across different groups. These findings may support the scale's future refinement and use in applied studies that will target specific groups (e.g. males, females, younger respondents and older respondents).

This study serves as an example to others who can explore the advantages of IRT over classical test theory methods to assess the psychometric properties of scales aimed at measuring latent constructs of interest in the field of marketing.

The correct diagnosis of financial well-being is important to guide interventions by governments and non-governmental entities, as well as by financial institutions interested in better understanding individuals.

The authors show how the identification of the characteristics of scale items provided by the IRT technique allows for a better understanding of its properties and how it can be improved.

This study tests the influence of Big Five Personality Traits (BFPTs) and demographic factors on Facebook behavior of Posting, Feature Usage, and Making Friends in India, home to the highest number of Facebook users in the world. Gen-Z is the demographic most involved in social media, thus this age group’s behavior can be most accurately gauged from Facebook habits and so it forms the basis of this study. Facebook behavior identified in this study was the outcome of an elicitation study conducted among university students. The sample survey consisted of 290 Facebook users aged between 17 and 24 years. The chapter uses factor analysis and structural equation modeling (SEM) for data analysis. Results revealed that extroverts and those open to experiences would post more. Meanwhile, the conscientious were less inclined to use features such as emoticons while those more agreeable embraced them. Women and those more neurotic would not befriend strangers. Also, posting and feature usage increased with user age. Study results highlight the potential of analyzing Facebook behavior to gauge personalities, which could benefit recruiters and marketers. Academically, this is the first study related to India where a scale for Facebook behavior is developed (namely Posting, Feature Usage, and Making Friends) and then validated for future research work.