Financial awareness, investment strategies and investor satisfaction: a multilayered empirical model testing in the Indian context

Shallu Saini, Tejinder Sharma, Satyanarayana Parayitam
{"title":"Financial awareness, investment strategies and investor satisfaction: a multilayered empirical model testing in the Indian context","authors":"Shallu Saini, Tejinder Sharma, Satyanarayana Parayitam","doi":"10.1108/sajbs-02-2023-0039","DOIUrl":null,"url":null,"abstract":"<h3>Purpose</h3>\n<p>This research explores the relationships between financial awareness and investor satisfaction about retirement planning, particularly in the Indian context. We developed a conceptual model involving double moderation effects of post-retirement objectives and external factors influencing investor satisfaction.</p><!--/ Abstract__block -->\n<h3>Design/methodology/approach</h3>\n<p>A carefully crafted survey instrument was designed to collect data from the 480 employees working in six administrative departments in the northern part of India. After checking the measurement properties of the survey instrument through the Lisrel package of structural equation modeling, the hypotheses were tested using Hayes PROCESS macros.</p><!--/ Abstract__block -->\n<h3>Findings</h3>\n<p>The results indicate that financial awareness is positively related to (1) investor satisfaction and (2) investment purpose; investment purpose is positively related to investor satisfaction; post-retirement objectives moderate the relationship between financial awareness and investment purpose; external factors moderate the moderated relationship between financial awareness and post-retirement objectives (first moderator) and investor satisfaction mediated through investment purpose.</p><!--/ Abstract__block -->\n<h3>Practical implications</h3>\n<p>The outcomes of this study have important implications for the employees embarking on making decisions concerning their retirement. The conceptual model provides a simple framework explaining how financial awareness and investor satisfaction are affected by the post-retirement objectives of individuals. This study highlights the importance of considering the effect of external factors influencing financial decisions.</p><!--/ Abstract__block -->\n<h3>Originality/value</h3>\n<p>The three-way interactions in this exploratory research contribute to the growing literature on behavioral finance, particularly concerning retirement planning involving pension.</p><!--/ Abstract__block -->","PeriodicalId":55618,"journal":{"name":"South Asian Journal of Business Studies","volume":null,"pages":null},"PeriodicalIF":2.1000,"publicationDate":"2024-08-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"South Asian Journal of Business Studies","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.1108/sajbs-02-2023-0039","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 0

Abstract

Purpose

This research explores the relationships between financial awareness and investor satisfaction about retirement planning, particularly in the Indian context. We developed a conceptual model involving double moderation effects of post-retirement objectives and external factors influencing investor satisfaction.

Design/methodology/approach

A carefully crafted survey instrument was designed to collect data from the 480 employees working in six administrative departments in the northern part of India. After checking the measurement properties of the survey instrument through the Lisrel package of structural equation modeling, the hypotheses were tested using Hayes PROCESS macros.

Findings

The results indicate that financial awareness is positively related to (1) investor satisfaction and (2) investment purpose; investment purpose is positively related to investor satisfaction; post-retirement objectives moderate the relationship between financial awareness and investment purpose; external factors moderate the moderated relationship between financial awareness and post-retirement objectives (first moderator) and investor satisfaction mediated through investment purpose.

Practical implications

The outcomes of this study have important implications for the employees embarking on making decisions concerning their retirement. The conceptual model provides a simple framework explaining how financial awareness and investor satisfaction are affected by the post-retirement objectives of individuals. This study highlights the importance of considering the effect of external factors influencing financial decisions.

Originality/value

The three-way interactions in this exploratory research contribute to the growing literature on behavioral finance, particularly concerning retirement planning involving pension.

查看原文
分享 分享
微信好友 朋友圈 QQ好友 复制链接
本刊更多论文
金融意识、投资策略和投资者满意度:印度背景下的多层实证模型检验
目的 本研究探讨了财务意识与投资者对退休规划满意度之间的关系,尤其是在印度的情况下。我们建立了一个概念模型,该模型涉及退休后目标和影响投资者满意度的外部因素的双重调节效应。设计/方法/途径我们精心设计了一份调查问卷,从印度北部六个行政部门的 480 名员工中收集数据。通过结构方程建模软件包 Lisrel 检验了调查工具的测量属性后,使用 Hayes PROCESS 宏对假设进行了检验。研究结果研究结果表明,财务意识与(1)投资者满意度和(2)投资目的正相关;投资目的与投资者满意度正相关;退休后目标调节财务意识与投资目的之间的关系;外部因素调节财务意识与退休后目标(第一调节因子)之间的调节关系,投资者满意度通过投资目的调节。概念模型提供了一个简单的框架,解释了财务意识和投资者满意度如何受到个人退休后目标的影响。这项研究强调了考虑外部因素对财务决策影响的重要性。原创性/价值这项探索性研究中的三方互动为日益增多的行为金融学文献做出了贡献,尤其是在涉及养老金的退休规划方面。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
求助全文
约1分钟内获得全文 去求助
来源期刊
CiteScore
6.30
自引率
8.30%
发文量
18
期刊最新文献
Fostering sustainable employability: the nexus of social support and career competencies in healthcare Financial awareness, investment strategies and investor satisfaction: a multilayered empirical model testing in the Indian context Analytical modeling of perceived authenticity in AI assistants: application of PLS-predict algorithm and importance-performance map analysis Manifestations of loan growth – profitability and non-performing loans – a study of the Indian banking sector Unlocking subsidiary performance: exploring the impact of subsidiary TMT composition, PCN tenure and subsidiary age
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
现在去查看 取消
×
提示
确定
0
微信
客服QQ
Book学术公众号 扫码关注我们
反馈
×
意见反馈
请填写您的意见或建议
请填写您的手机或邮箱
已复制链接
已复制链接
快去分享给好友吧!
我知道了
×
扫码分享
扫码分享
Book学术官方微信
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术
文献互助 智能选刊 最新文献 互助须知 联系我们:info@booksci.cn
Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。
Copyright © 2023 Book学术 All rights reserved.
ghs 京公网安备 11010802042870号 京ICP备2023020795号-1