ORCID Profile
0000-0002-0207-1895
Current Organisation
The University of Lahore
Does something not look right? The information on this page has been harvested from data sources that may not be up to date. We continue to work with information providers to improve coverage and quality. To report an issue, use the Feedback Form.
Publisher: Emerald
Date: 20-03-2023
DOI: 10.1108/IJBM-09-2022-0431
Abstract: Financial risk-taking attitude (FRT) plays an important role in consumers' financial decisions, thereby determining consumer well-being. Motivated by the recent research on consumer well-being, this paper explores the relationships between financial literacy, a propensity to plan (PTP), FRT, financial satisfaction and life satisfaction. The authors use the Household, Income and Labour Dynamics in Australia (HILDA) survey to achieve the purpose of this paper. Furthermore, the authors use the variance-based partial least square structural equation modeling (PLS-SEM), also known as the PLS path modeling approach to test our proposed hypotheses empirically. The study finds a strong partial mediation of FRT between financial literacy and financial satisfaction. Moreover, the analyses reveal that a high PTP combined with a high FRT results in achieving high financial satisfaction, which leads to improved life satisfaction. The findings show the importance of creating financial plans in accordance with risk tolerance. While increasing financial literacy is relevant, the research suggests that tools that help consumers plan and invest in appropriate risky investments will lead to better outcomes. Though scholarly acumen of consumer well-being is rapidly developing, little remains known regarding the collective roles of financial literacy, PTP and FRT. The study addresses this gap by showing that financial literacy, risk-taking attitudes and planning propensities are all interconnected and necessary ingredients to improve financial and life satisfaction.
Publisher: Emerald
Date: 15-03-2022
DOI: 10.1108/IJBM-09-2021-0407
Abstract: This paper explores the direct and indirect associations between financial resilience and life satisfaction, using the moderation of non-impulsive behavior and mediation of financial satisfaction. The authors analyze the Australian household dataset, named the Household, Income and Labour Dynamics in Australia (HILDA) Survey, to meet the objectives of this paper. Furthermore, the authors use the PROCESS Models 4 and 7 to test the mediation and the combined moderated mediation relationships, respectively. The authors find the complete mediation of the relationship between financial resilience and life satisfaction by financial satisfaction. Also, this study finds that both financial resilience and non-impulsive behavior positively contribute to financial satisfaction, which is positively associated with life satisfaction. This research supports the need for consumers to build emergency funds as financial resilience is related to consumer well-being. This research also recommends that impulsive behavior should be addressed by the personal finance curriculum and financial advisors. This research contributes by showing that financial satisfaction is an important predictor of consumers’ well-being. The ability to access financial resources, which increases for non-impulsive consumers, is associated with increased life satisfaction but only via financial satisfaction.
Publisher: MDPI AG
Date: 26-10-2021
DOI: 10.3390/JRFM14110513
Abstract: “An excess of everything is bad”. This famous old proverb fits well with the current condition of Australian household debt that is continuously rising. Research in Australia’s household indebtedness is scarce and strategies to control the rising household debt remain contentious. The government of Australia has introduced financial literacy and financial capability measures to help control the rising household debt. Given that the literature highlights the importance of improving financial wellbeing, we analyse if financial wellbeing is a factor, which could be relevant to the reduced household debt. We use the Household, Income and Labour Dynamics in Australia panel survey in our analysis and find that improved financial wellbeing is associated with the reduced debt-taking behaviour of Australians. Our robust analysis confirms our findings. Finally, our empirical results suggest that improving households’ perception of their personal financial situation can bring improvement in their financial decisions, including the decision to take on debt.
Publisher: Inderscience Publishers
Date: 2018
Publisher: Emerald
Date: 12-07-2021
DOI: 10.1108/IJBM-09-2020-0490
Abstract: This study aims to test a moderated mediation model for a twofold purpose. First, to examine the mediating role of financial capability (FC) in the association between financial literacy (FL) and financial well-being (FW). Second, to analyze if non-impulsive future-oriented behavior (NIB) moderates the associations of FL with FC and FL with FW. The authors use the PROCESS macros in IBM SPSS Statistics to test the moderated mediation model and analyze the 2016 wave of the Household, Income and Labor Dynamics in Australia Survey. The empirical analysis shows that FC partially mediates the association between FL and FW. Furthermore, the moderated mediation analysis shows that NIB strengthens the associations of FL with FC and FL with FW. Specifically, the positive associations of FL with FC and FL with FW significantly increase for those consumers who score high on NIB. The findings have implications for the financial services industry. Professional financial planners can positively improve the ability of consumers to deal with their financial matters by highlighting the importance of FL and NIB. The study findings suggest educating consumers to discourage impulsive behavior and encourage them to create financial plans as it will enhance their ability to conduct financial tasks efficiently, improving their FW. To the authors’ knowledge, this is the first study to assess a moderated mediation model, which examines the role of FC as a mediator variable and NIB as a moderator variable in the association between FL and FW.
Publisher: Edward Elgar Publishing
Date: 15-06-2023
No related grants have been discovered for Muhammad Tahir.