Impact of Negative Emotions on Financial Behavior: An Assessment through General Strain Theory

• Autorzy: Khurram Ajaz Khan , Zdenko Metzker , Justas Streimikis , John Amoah
• Języki publikacji: EN

Abstrakty

EN

Research background: The research has two objectives and employs a serial mediation approach. First, using the general strain theory, it examines the mediating role of negative feelings and impact of economic adversity on people's risk tolerance and prudent financial behavior. The second is determining the various categories' variations according to age. Purpose of the article: The study's main objective is to evaluate financial behaviour of people with lower and medium incomes after the second wave of COVID-19 in India, and to contribute to the body of knowledge on general strain theory. Methods: The study examined the proposed framework and tested the serial mediation model based on the general strain theory used as a survey method for data collection, targeting lower and middle-income individuals in India's most populated state. The study applied PLS-SEM to test the framed hypotheses. Furthermore, the Kruskal Wallis test was applied to identify the difference in the various groups classified based on age. Findings & value added: The results reveal the economic hardship significantly influences improved financial behavior. Risk aversion attitude, loneliness, and depression mediate the relationship between economic hardship and financial behavior. Moreover, the study found quite a few significant differences between the different age groups. The present study will add to the existing literature on financial behavior under the scope of general strain theory and probably be among the few that test general strain theory with financial variables impact on lower and middle-income group individuals from a developing nation in post-COVID-19 period.(original abstract)

Słowa kluczowe

EN

COVID-19; Risk; Depression; Finance

PL

COVID-19; Ryzyko; Depresja; Finanse

• Czasopismo: Equilibrium
• Rocznik: 2023
• Tom: 18
• Numer: nr 1
• Strony: 219--254

Twórcy

autor

Khurram Ajaz Khan

• Tomas Bata University in Zlin, Czech Republic

autor

Zdenko Metzker

• Tomas Bata University in Zlín, Czech Republic

autor

Justas Streimikis

• Lithuanian Centre for Social Sciences

autor

John Amoah

• Tomas Bata University in Zlín

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Identyfikatory

DOI

https://doi.org/10.24136/eq.2023.007