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Evaluation of the Financial Threat Scale (FTS) in four European, non-student samples

Author

Listed:
  • Marjanovic, Zdravko
  • Greenglass, Esther R.
  • Fiksenbaum, Lisa
  • De Witte, Hans
  • Garcia-Santos, Francisco
  • Buchwald, Petra
  • Peiró, José María
  • Mañas, Miguel A.

Abstract

The Financial Threat Scale (FTS) was designed to assess levels of fear, uncertainty, and preoccupation about the stability and security of one's finances. In previous research with Canadian university students, it was shown that the FTS was a psychometrically sound measure, associated with failing personal financial conditions, threat-related personality characteristics, and depreciated psychological health. The present investigation further examines the FTS in a diverse set of non-student European samples. Data were collected in four countries using a self-report questionnaire which included measures of ones’ financial situation, personality, and psychological health. Results were highly similar to the findings of the previous study. The FTS is unidimensional, reliable, and its validity was supported by moderate statistical relations with variables such as job insecurity, self-esteem, and emotional exhaustion. Importantly, financial threat was higher in countries that fared poorly in the recent financial crisis than countries that fared well, and it mediated the relation between economic hardship and psychological well-being. Implications for researchers are discussed.

Suggested Citation

  • Marjanovic, Zdravko & Greenglass, Esther R. & Fiksenbaum, Lisa & De Witte, Hans & Garcia-Santos, Francisco & Buchwald, Petra & Peiró, José María & Mañas, Miguel A., 2015. "Evaluation of the Financial Threat Scale (FTS) in four European, non-student samples," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 55(C), pages 72-80.
    • Handle: RePEc:eee:soceco:v:55:y:2015:i:c:p:72-80
    DOI: 10.1016/j.socec.2014.12.001
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    References listed on IDEAS

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    1. Burgard, Sarah A. & Brand, Jennie E. & House, James S., 2009. "Perceived job insecurity and worker health in the United States," Social Science & Medicine, Elsevier, vol. 69(5), pages 777-785, September.
    2. Marjanovic, Zdravko & Greenglass, Esther R. & Fiksenbaum, Lisa & Bell, Chris M., 2013. "Psychometric evaluation of the Financial Threat Scale (FTS) in the context of the great recession," Journal of Economic Psychology, Elsevier, vol. 36(C), pages 1-10.
    3. Beatriz SORA & Amparo CABALLER & José María PEIRÓ, 2010. "The consequences of job insecurity for employees: The moderator role of job dependence," International Labour Review, International Labour Organization, vol. 149(1), pages 59-72, March.
    4. David N. F. Bell & David G. Blanchflower, 2011. "Young people and the Great Recession," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 27(2), pages 241-267.
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    Cited by:

    1. de Bruijn, Ernst-Jan & Antonides, Gerrit, 2020. "Determinants of financial worry and rumination," Journal of Economic Psychology, Elsevier, vol. 76(C).
    2. Carlos-María Alcover & Sergio Salgado & Gabriela Nazar & Raúl Ramírez-Vielma & Carolina González-Suhr, 2022. "Job Insecurity, Financial Threat, and Mental Health in the COVID-19 Context: The Moderating Role of the Support Network," SAGE Open, , vol. 12(3), pages 21582440221, September.
    3. Hussain Mehdi & Huma Ali & Shaukat Malik & Zeeshan Rasool, 2021. "Impact of Financial Threat on the Change of Investor Behavior: The Moderating Effect of Social Support During Covid-19 in Pakistan," Apuntes del Cenes, Universidad Pedagógica y Tecnológica de Colombia, vol. 40(72), pages 47-70, July.
    4. Carlota de Miquel & Joan Domènech-Abella & Mireia Felez-Nobrega & Paula Cristóbal-Narváez & Philippe Mortier & Gemma Vilagut & Jordi Alonso & Beatriz Olaya & Josep Maria Haro, 2022. "The Mental Health of Employees with Job Loss and Income Loss during the COVID-19 Pandemic: The Mediating Role of Perceived Financial Stress," IJERPH, MDPI, vol. 19(6), pages 1-14, March.
    5. Magdalena Adamus & Matúš Grežo, 2021. "Individual Differences in Behavioural Responses to the Financial Threat Posed by the COVID-19 Pandemic," MUNI ECON Working Papers 2021-09, Masaryk University, revised Feb 2023.

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