IDEAS home Printed from https://ideas.repec.org/a/taf/oaefxx/v12y2024i1p2431544.html
   My bibliography  Save this article

Exploring resilience: a Bayesian study of psychological and financial factors across gender

Author

Listed:
  • Arturo García-Santillán
  • Milka Elena Escalera-Chávez
  • Josefina C. Santana

Abstract

The study aims to demonstrate gender differences in financial health indicators, assessed through perceptions, lived experiences, and actions to deal with financial crises. The scale used is a composite instrument that includes the eight financial health indicators from BBVA and the Center for Financial Services Innovation (CFSI), together with a scale designed to measure lived experiences and actions to manage financial crises. The sample consisted of 951 participants, 394 (41.4%) men, 504 (53.0%) women, and 53 (5.6%) LGBTQ+. Bayesian analysis indicates that perceptions, lived experiences, and actions in managing economic crises do not differ significantly between genders. The study suggests no significant differences in financial resilience between men, women, and LGBTQ+ people. Actions to cope with economic crises also indicate that resilience does not vary significantly by gender. Despite the absence of gender differences in financial perceptions and experiences, it is inferred that participants possess an acceptable level of financial knowledge, which helps them manage unforeseen expenses and reduce dependence on loans. Financial education is a key factor in strengthening resilience and promoting financial inclusion, which is essential, especially in diverse socioeconomic contexts. The findings suggest that financial inclusion may improve household resilience, particularly in rural areas.This study sought to explore gender differences in financial health indicators, assessed through perceptions, lived experiences, and actions to deal with financial crises. Though the study found no significant differences in financial resilience between men, women, and LGBTQ+ people, it can be inferred that participants possess an acceptable level of financial knowledge, which helps them manage unforeseen expenses and reduce dependence on loans. This underscores the importance of financial education, especially in regions with frequent economic challenges.

Suggested Citation

  • Arturo García-Santillán & Milka Elena Escalera-Chávez & Josefina C. Santana, 2024. "Exploring resilience: a Bayesian study of psychological and financial factors across gender," Cogent Economics & Finance, Taylor & Francis Journals, vol. 12(1), pages 2431544-243, December.
  • Handle: RePEc:taf:oaefxx:v:12:y:2024:i:1:p:2431544
    DOI: 10.1080/23322039.2024.2431544
    as

    Download full text from publisher

    File URL: http://hdl.handle.net/10.1080/23322039.2024.2431544
    Download Restriction: Access to full text is restricted to subscribers.

    File URL: https://libkey.io/10.1080/23322039.2024.2431544?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    More about this item

    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:taf:oaefxx:v:12:y:2024:i:1:p:2431544. 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.

    We have no bibliographic references for this item. You can help adding them by using 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: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/OAEF20 .

    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.