The Mediating Effect of Financial Self-Efficacy on the Financial Literacy-Behavior Relationship: A Case of Generation Y Professionals

Dipendra Singh (), Albert A Barreda (), Yoshimasa Kageyama () and Nripendra Singh ()

The Economics and Finance Letters, 2019, vol. 6, issue 2, 120-133

Abstract: A comprehensive financial literacy questionnaire surveyed prospective psychological constructs as antecedents (financial literacy, economic perception, financial self-confidence, financial behavior, and personal financial performance) of applying financial self-efficacy in a large sample of working students in the hospitality and tourism industry. It is expected that financial literacy and economic perception are key antecedents of financial self-efficacy, which in turns may influence financial behaviors and personal financial performance in shaping a working student’s future skills for designing effective financial plans. For this purpose, the structural equations model was empirically tested. Moreover, the mediating indirect effects of financial self-efficacy in the relationships between financial literacy and economic environment on financial behavior and financial performance were tested through a two-phase methodological analysis. This study contributes to the literature by investigating the effects of financial self-efficacy, financial literacy and economic perception on personal financial behavior. The significance of the contribution is to propose and examine empirically a theory-based model of financial self-efficacy and financial behavior-performance in a service context among Generation Yers.

Keywords: Generation Y; Financial behavior; Financial self-efficacy; Financial literacy; Financial performance; Economic perception; Hospitality (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

Downloads: (external link)
https://archive.conscientiabeam.com/index.php/29/article/view/1625/2262 (application/pdf)
https://archive.conscientiabeam.com/index.php/29/article/view/1625/4850 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pkp:teafle:v:6:y:2019:i:2:p:120-133:id:1625

Access Statistics for this article

More articles in The Economics and Finance Letters from Conscientia Beam
Bibliographic data for series maintained by Dim Michael ().