IDEAS home Printed from https://ideas.repec.org/a/rfh/bbejor/v11y2022i1p14-23.html
   My bibliography  Save this article

An Empirical Investigation Of Financial Inclusion On Financial Wellbeing Of Working Women: A Mediating Role Of Financial Capability

Author

Listed:
  • SANA RASHID

    (PhD Scholar, Hailey College of Commerce, University of the Punjab, Pakistan)

  • ZULFQAR AHMED BOWRA

    (Dean of Commerce, Principal Hailey College of Commerce, University of the Punjab, Pakistan)

  • ABID HUSSAIN

    (PhD Scholar, Hailey College of Commerce, University of the Punjab, Pakistan)

Abstract

The study is designed to investigate the impact of financial inclusion on financial wellbeing of the working women. This study aims to find how financial inclusion impact the financial wellbeing while considering the mediating role of financial capability. Stratified sampling technique was used to draw sample size. Using a quantitative research methodology, data was collected from the respondents through a survey (a self-administered questionnaire). As a part of lager study, 650 questionnaires were distributed from which 550 responses were collected from the participants, which shows 84% response rate. In order to analyze the responses, SPSS and AMOS were used. To test the hypothesis, structural equation modeling technique was used. The findings show that partial mediation is witnessed between financial inclusion and financial well-being of working women as direct beta without mediation is significant and positive. The study is significant for women working at different hierarchal levels, policy makers and governing authorities to up surge the financial wellbeing of the women by ensuring their access to appropriate financial products and required services with the help of their financial abilities and skills. For the future study the male respondents can also be included in the population to examine the effects of the proposed study on the male. A comparison between the male and female respondents can also be done for extending the research scope.

Suggested Citation

  • Sana Rashid & Zulfqar Ahmed Bowra & Abid Hussain, 2022. "An Empirical Investigation Of Financial Inclusion On Financial Wellbeing Of Working Women: A Mediating Role Of Financial Capability," Bulletin of Business and Economics (BBE), Research Foundation for Humanity (RFH), vol. 11(1), pages 14-23, March.
    • Handle: RePEc:rfh:bbejor:v:11:y:2022:i:1:p:14-23
    as

    Download full text from publisher

    File URL: https://bbejournal.com/index.php/BBE/article/view/287/267
    Download Restriction: no
    File URL: https://bbejournal.com/index.php/BBE/article/view/287
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Esther Duflo, 2012. "Women Empowerment and Economic Development," Journal of Economic Literature, American Economic Association, vol. 50(4), pages 1051-1079, December.
    2. Brüggen, Elisabeth C. & Hogreve, Jens & Holmlund, Maria & Kabadayi, Sertan & Löfgren, Martin, 2017. "Financial well-being: A conceptualization and research agenda," Journal of Business Research, Elsevier, vol. 79(C), pages 228-237.
    3. Richard G Netemeyer & Dee Warmath & Daniel Fernandes & John G LynchJr. & Eileen FischerEditor & Olivier ToubiaAssociate Editor, 2018. "How Am I Doing? Perceived Financial Well-Being, Its Potential Antecedents, and Its Relation to Overall Well-Being," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 45(1), pages 68-89.
    4. Laura Luukkanen & Outi Uusitalo, 2019. "Toward Financial Capability—Empowering the Young," Journal of Consumer Affairs, Wiley Blackwell, vol. 53(2), pages 263-295, June.
    5. Pascaline Dupas & Jonathan Robinson, 2013. "Savings Constraints and Microenterprise Development: Evidence from a Field Experiment in Kenya," American Economic Journal: Applied Economics, American Economic Association, vol. 5(1), pages 163-192, January.
    6. Adele Atkinson & Stephen McKay & Sharon Collard & Elaine Kempson, 2007. "Levels of Financial Capability in the UK," Public Money & Management, Taylor & Francis Journals, vol. 27(1), pages 29-36, February.
    7. Vanesa Pesqué‐Cela & Lihui Tian & Deming Luo & Damian Tobin & Gerhard Kling, 2021. "Defining and measuring financial inclusion: A systematic review and confirmatory factor analysis," Journal of International Development, John Wiley & Sons, Ltd., vol. 33(2), pages 316-341, March.
    8. Ali, Muhammad Arsalan & Rehman, Khalil ur & Maqbool, Adnan & Hussain, Shahid, 2021. "The Impact of Behavioral Finance Factors and the Mediating Effect of Investment Behavior on Individual’s Financial Well-being: Empirical Evidence from Pakistan," Journal of Accounting and Finance in Emerging Economies, CSRC Publishing, Center for Sustainability Research and Consultancy Pakistan, vol. 7(2), pages 325-336, June.
    9. Vernon Loke & Laura Choi & Margaret Libby, 2015. "Increasing Youth Financial Capability: An Evaluation of the MyPath Savings Initiative," Journal of Consumer Affairs, Wiley Blackwell, vol. 49(1), pages 97-126, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Sana Rashid & SMuhammad Bilal & SAbid Hussain & SManzoor Ahmad Shah, 2022. "Impact of Financial Inclusion on Financial Well-Being: Moderating Effect of Orientation towards Finance," Journal of Economic Impact, Science Impact Publishers, vol. 4(2), pages 124-133.
    2. Fu, Jonathan, 2020. "Ability or opportunity to act: What shapes financial well-being?," World Development, Elsevier, vol. 128(C).
    3. Hoffmann, Arvid O.I. & Plotkina, Daria, 2020. "Why and when does financial information affect retirement planning intentions and which consumers are more likely to act on them?," Journal of Business Research, Elsevier, vol. 117(C), pages 411-431.
    4. Noviarini, Jelita & Coleman, Andrew & Roberts, Helen & Whiting, Rosalind H., 2023. "Financial literacy and retirees' resource allocation decisions in New Zealand," Pacific-Basin Finance Journal, Elsevier, vol. 79(C).
    5. Mette, Frederike Monika Budiner & de Matos, Celso Augusto & Rohden, Simoni F. & Ponchio, Mateus Canniatti, 2019. "Explanatory mechanisms of the decision to buy on credit: The role of materialism, impulsivity and financial knowledge," Journal of Behavioral and Experimental Finance, Elsevier, vol. 21(C), pages 15-21.
    6. Jeffrey Anvari-Clark & David Ansong, 2022. "Predicting Financial Well-Being Using the Financial Capability Perspective: The Roles of Financial Shocks, Income Volatility, Financial Products, and Savings Behaviors," Journal of Family and Economic Issues, Springer, vol. 43(4), pages 730-743, December.
    7. Malik, Faiza & Ishaq, Muhammad Ishtiaq, 2023. "Impact of minimalist practices on consumer happiness and financial well-being," Journal of Retailing and Consumer Services, Elsevier, vol. 73(C).
    8. Almås, Ingvild & Somville, Vincent, 2020. "The effect of gender-targeted transfers: Experimental Evidence from India," CEPR Discussion Papers 15218, C.E.P.R. Discussion Papers.
    9. Wang-Ly, Nathan & Newell, Ben R., 2022. "Allowing early access to retirement savings: Lessons from Australia," Economic Analysis and Policy, Elsevier, vol. 75(C), pages 716-733.
    10. Admasu A. Maruta & Habtamu T. Edjigu & Woubet Kassa, 2023. "Does financial inclusion empower women in Africa?," Economic Notes, Banca Monte dei Paschi di Siena SpA, vol. 52(3), November.
    11. Zelu, Barbara Ama & Iranzo, Susana & Perez-Laborda, Alejandro, 2024. "Financial inclusion and women economic empowerment in Ghana," Emerging Markets Review, Elsevier, vol. 62(C).
    12. Julie Birkenmaier & David Rothwell & Mary Agar, 2022. "How is Consumer Financial Capability Measured?," Journal of Family and Economic Issues, Springer, vol. 43(4), pages 654-666, December.
    13. Hampson, Daniel P. & Gong, Shiyang & Xie, Yi, 2021. "How consumer confidence affects price conscious behavior: The roles of financial vulnerability and locus of control," Journal of Business Research, Elsevier, vol. 132(C), pages 693-704.
    14. Shekinah E. Dare & Wilco W. Dijk & Eric Dijk & Lotte F. Dillen & Marcello Gallucci & Olaf Simonse, 2023. "How Executive Functioning and Financial Self-efficacy Predict Subjective Financial Well-Being via Positive Financial Behaviors," Journal of Family and Economic Issues, Springer, vol. 44(2), pages 232-248, June.
    15. Gentjan Çera & Khurram Ajaz Khan & Jaroslav Belas & Humberto Nuno Rito Ribeiro, 2020. "The Role of Financial Capability and Culture in Financial Satisfaction," Economic Papers, The Economic Society of Australia, vol. 39(4), pages 389-406, December.
    16. Fred van Raaij, W. & Riitsalu, Leonore & Põder, Kaire, 2023. "Direct and indirect effects of self-control and future time perspective on financial well-being," Journal of Economic Psychology, Elsevier, vol. 99(C).
    17. Noelia Camara & Ximena Pena & David Tuesta, 2014. "Factors that Matter for Financial Inclusion: Evidence from Peru," Working Papers 1409, BBVA Bank, Economic Research Department.
    18. Angela Sorgente & Casey J. Totenhagen & Margherita Lanz, 2022. "The Use of the Intensive Longitudinal Methods to Study Financial Well-Being: A Scoping Review and Future Research Agenda," Journal of Happiness Studies, Springer, vol. 23(1), pages 333-358, January.
    19. Carole Comerton‐Forde & John de New & Nicolás Salamanca & David C. Ribar & Andrea Nicastro & James Ross, 2022. "Measuring Financial Wellbeing with Self‐Reported and Bank Record Data," The Economic Record, The Economic Society of Australia, vol. 98(321), pages 133-151, June.
    20. Armand Fouejieu & Ratna Sahay & Martin Cihak & Shiyuan Chen, 2020. "Financial inclusion and inequality: A cross-country analysis," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 29(8), pages 1018-1048, November.

    More about this item

    Keywords

    Financial Inclusion; Financial Capability; Financial Wellbeing; Working Women;
    All these keywords.

    JEL classification:

    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rfh:bbejor:v:11:y:2022:i:1:p:14-23. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Muhammad Irfan Chani (email available below). General contact details of provider: https://edirc.repec.org/data/rffhlpk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.