DIGITAL ENGAGEMENT AS A PREDICTOR OF FINANCIAL CAPABILITY, FINANCIAL ADVICE, AND FINANCIAL SATISFACTION

Khurram Ajaz Khan and Mohammad Anam Akhtar
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Khurram Ajaz Khan: Tomas Bata University in Zlin, Czech Republic
Mohammad Anam Akhtar: IMT Business School, Dubai International Academic City, Dubai

Studies in Business and Economics, 2021, vol. 16, issue 2, 127-141

Abstract: This paper investigates direct and indirect impacts of an individual’s digital engagement on their financial satisfaction considering a significant role of an individual’s financial capability and financial advice. The study is administered on the individual level, surveyed the working youth in northern India. PLS-SEM were employed using SMART-PLS version 3 for a confirmatory analysis and structural model assessment. Digital engagement has been established as a vital factor substantially influencing the individual’s financial advice, financial capability and financial satisfaction both directly and indirectly. The outcome of the study strongly favours the role and importance of digital engagement in the individual’s financial satisfaction. What is more, this paper contributes to the current knowledge by clarifying digital engagement as a possible predictor of financial capability, financial advice and financial satisfaction in the context of a low-income, developing country and applies it as a variable with the selected financial constructs. The originality and novelty of the study may be found useful to design effective policies.

Keywords: Digital engagement; financial capability; financial advice; financial satisfaction; developing country; India (search for similar items in EconPapers)
Date: 2021
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