The Role of Financial Capability and Culture in Financial Satisfaction

被引:13
|
作者
Cera, Gentjan [1 ,2 ]
Khan, Khurram Ajaz [1 ]
Belas, Jaroslav [1 ]
Ribeiro, Humberto Nuno Rito [3 ]
机构
[1] Tomas Bata Univ, Mostni 5139, Zlin 76001, Czech Republic
[2] Agr Univ Tirana, Tirana, Albania
[3] Univ Aveiro, Aveiro, Portugal
来源
ECONOMIC PAPERS | 2020年 / 39卷 / 04期
关键词
financial satisfaction; financial capability; financial advice; risk tolerance; culture; LIFE SATISFACTION; LITERACY; BEHAVIOR; EDUCATION; PREDICTORS; KNOWLEDGE; COUNTRIES; VARIANCE; SEEKING; ADVICE;
D O I
10.1111/1759-3441.12299
中图分类号
F [经济];
学科分类号
02 ;
摘要
This paper presents an integrated framework for understanding the determinants of financial satisfaction in the context of two European nations with different cultural environments. The direct, indirect and interactive effects were tested through the path analysis method. It was found that to be financially capable is imperative because it governs the impacts of financial attitude and financial knowledge on financial satisfaction. Moreover, findings show that culture matters in explaining differences between countries. Hence, individualistic societies, compared to collectivistic ones, reflect a stronger relationship between financial attitude and financial satisfaction. Additionally, countries showing a high propensity in avoiding uncertainty reflect a negative association between risk tolerance and financial satisfaction, while those lacking such preference manifest a positive relationship.
引用
收藏
页码:389 / 406
页数:18
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