Unveiling the Impact of Psychological Traits on Innovative Financial Decision-making in Small Tourism Businesses

Navjot Sandhu () and Hatem El-Gohary ()
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Navjot Sandhu: Birmingham City University
Hatem El-Gohary: Qatar University

Journal of the Knowledge Economy, 2023, vol. 14, issue 3, No 10, 2284-2317

Abstract: Abstract Understanding factors affecting innovative financial decision-making involves the usage of more than one theory-driven model including those related to psychological behaviour (e.g. theory of planned behaviour). This study validates a conceptual framework extending the traditional financing model (TFM) and behavioural financial decision (BFD) to explain innovative financial decision-making utilising both qualitative and quantitative approaches. Based on a sample of 140 small tourism businesses, employing structured equation modelling, the findings reinforce the importance of the behavioural approach on innovative financial decision-making in small tourism businesses. The findings does not only make a respectable contribution the field, but also offer a practical evidence for the adaptation of the theory of planned behaviour in developing countries.

Keywords: Innovative financial decision-making; Entrepreneurs; Financing preferences; Personal finance; SMEs; India; Tourism firms; Theory of planned behaviour; Family firms (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s13132-022-00987-y

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