The Mediating Effect of Financial Self-Efficacy on Financial Behavior and Financial Well-Being of College Students in Region XI
Journal Title: American Journal of Economics and Business Innovation (AJEBI) - Year 2024, Vol 3, Issue 1
Abstract
A significant proportion of financial stress on students is often related to challenges like covering tuition fees, purchasing textbooks, and managing day-to-day expenses. This measures their ability to navigate financial difficulties and maintain sound financial well-being. Others point out that financial well-being is correlated with effective money management and the ability to handle financial challenges. This research investigated the influence of financial behavior (FB) on the financial well-being (FWB) of college students in Region XI and whether or not their financial self-efficacy (FSE) mediated such a relationship. This study utilized adapted questionnaires in the form of Likert scales and surveyed 350 college students from various universities and colleges in Region XI through Google Forms. Using tests for reliability and validity, the measurement model obtained satisfactory indices for Cronbach’s alpha, Average variance extracted (AVE), and heterotrait-monotrait ratio (HTMT). Using Smart-PLS 4.0 software, the hypothesized mediation model was assessed. It was found that significant direct effects exist in the paths between FB & FWB, FB & FSE, and FSE & FWB. Moreover, FSE was found to partially mediate the relationship between FB and FWB of college students.
Authors and Affiliations
Brandon Nacua Obenza, Nycred Bryce G. Cuaresma, Yvan Gille D. Carandang, Lyca Jane S. Dalugdug, Kurt Sidric M. Resus, Bea Cecilia A. Jumamoy, Princess Ashlhie T. Mamon, Ken Chester Y. Chi
Keywords
Related Articles
- EP ID EP731119
- DOI https://doi.org/10.54536/ajebi.v3i1.2313
- Views 49
- Downloads 0
Nigeria’s Inflation in the Era of Liquefied Natural Gas Exports: Insights from 2000-2021 ARDL Cointegration Analysis
This paper presents a comprehensive analysis of the impact of Liquefied Natural Gas (LNG) exports on inflation in Nigeria over the period 2000–2021. Utilizing the Autoregressive Distributed Lag (ARDL) bound co-integratio...
Research on the Issues and Effects of Big Data on Business Economic Management
With the advent of the big data era, the application of big data has become more and more common and mature, gradually changing social production and lifestyle, and also has a certain impact on business and economic mana...
Does Purchasing Power Parity Hold Between Asian Economies Before and After the Financial Crisis? Evidence from the Time-Series Model
In exchange rate determination models, the purchasing power parity (PPP) acts as a fundamental theory, which provides the basis for exchange rate determination across countries respectively. The main objective of this st...
The Regime Changing Behavior of Exchange Rates and Stock Market Prices of Selected Emerging Countries: An application of the Markov Switching Vector Autoregressive model (MS-VAR)
This article aims to analyze the dynamic relationship between stock market returns and exchange rate movements for emerging countries (Brazil, Argentina, Mexico and India), from January 2005 to December 2021, using Marko...
Impact of Inventory Management on Financial Performance of MSMEs in Santiago City
The study aims to investigate the impact of inventory management on the operational efficiency and financial performance of micro, small, and medium enterprises (MSMEs) in Santiago City. A correlational descriptive cross...