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Mindset to Money: How Gender Impacts the Relationship between Self-Efficacy and Financial Satisfaction

Author

Listed:
  • Shakira Mukhtar
  • Anisa Jan
  • Hadiya Altaf
  • Danish Mehraj

Abstract

This study analyzes the relationship between financial self-efficacy and financial satisfaction of individual investors, with a particular emphasis on examining whether this relationship is moderated by gender. The study adopted a quantitative research approach and employed an online survey to gather data from a sample of 216 individual investors. Structural equation modeling (SEM) is employed to examine the direct effect of financial self-efficacy on financial satisfaction and the moderating effect of gender on this relationship. The results show that financial self-efficacy has a positive and significant impact on financial satisfaction. Furthermore, the findings indicate that gender moderates this relationship, with male investors exhibiting a stronger relationship between financial self-efficacy and financial satisfaction than female investors. These findings suggest that financial self-efficacy is an important predictor of financial satisfaction for both men and women and gender differences should be taken into account when examining the relationship between these variables. The study highlights the importance of financial self-efficacy in achieving financial satisfaction and emphasizes the need for interventions that improve financial self-efficacy, particularly for women investors who may experience greater barriers to financial success.

Suggested Citation

  • Shakira Mukhtar & Anisa Jan & Hadiya Altaf & Danish Mehraj, 2023. "Mindset to Money: How Gender Impacts the Relationship between Self-Efficacy and Financial Satisfaction," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 15(2), pages 137-148, December.
    • Handle: RePEc:rfb:journl:v:15:y:2023:i:2:p:137-148
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    References listed on IDEAS

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    Cited by:

    1. C. Hitesh Kumar & Supreet Sandhu, 2024. "Digital Financial Literacy and Perceived Financial Well-Being Among Indian Adolescents and Young Adults: The Importance of Financial Capability and Resilience," The Review of Finance and Banking, Academia de Studii Economice din Bucuresti, Romania / Facultatea de Finante, Asigurari, Banci si Burse de Valori / Catedra de Finante, vol. 16(2), pages 231-247, December.

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