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Gupta, Abha
- Financial Literacy Leads to Retirement Financial Planning: A Structural Equation Modelling Approach
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Authors
Kamini Rai
1,
Abha Gupta
2
Affiliations
1 Associate Professor, IITM, Delhi, IN
2 Assistant Professor, Rukmini Devi Institute of Advanced Studies, GGS Indraprastha University, Delhi, IN
1 Associate Professor, IITM, Delhi, IN
2 Assistant Professor, Rukmini Devi Institute of Advanced Studies, GGS Indraprastha University, Delhi, IN
Source
Journal of Commerce and Accounting Research, Vol 10, No 4 (2021), Pagination: 9-18Abstract
The present article examines (i) the dimensions of financial literacy and (ii) financial literacy as a second-order (higher order) factor measuring retirement financial planning of working individuals in the city of Delhi. The study incorporated cross-sectional data of working individuals (N = 538) from different public/private sector organisations in Delhi & NCR. For data collection, a well-designed online questionnaire was framed on a five-point Likert scale and data were analysed using the AMOS (version 20) software using structural equation modelling approach (SEM). The results of the study showcased that when dimensions of financial literacy modelled directly with retirement financial planning (RFP), only financial knowledge, financial behaviour, and financial attitude are significantly associated with RFP, whereas financial awareness is not found to be associated in a significant manner. However, when financial literacy modelled as a second-order (higher order) factor with RFP, the results showed a significant association with RFP. Thus, financial literacy as a second order is the preferred model.Keywords
Financial Literacy, Financial Awareness, Financial Behaviour, Retirement Financial Planning, Financial KnowledgeReferences
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- Role of Financial Innovation on Firm’s Financial Performance: Mediating Role of R&D Spending Instability with Special Reference to the Indian Banking Sector
Abstract Views :194 |
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Authors
Kamini Rai
1,
Abha Gupta
2
Affiliations
1 Associate Professor, IITM, Delhi, IN
2 Assistant Professor, Rukmini Devi Institute of Advanced Studies, GGS Indraprastha University, Delhi, IN
1 Associate Professor, IITM, Delhi, IN
2 Assistant Professor, Rukmini Devi Institute of Advanced Studies, GGS Indraprastha University, Delhi, IN
Source
Journal of Commerce and Accounting Research, Vol 11, No 3 (2022), Pagination: 45-55Abstract
Innovation is a well-thought-out crucial chauffeur in today’s viable markets for ensuring great success of the firms. This present study tried to find the effect of financial innovation on financial performance of the Indian banking sector. The mediating role of the research & development investment instability is also measured. Data for the study were obtained from working professionals employed in different scheduled banks of India in the Delhi – NCR region. CFA and structural equation modelling techniques were used for data analysis via SPSS & AMOS. Process Macro was also used for mediation analysis. The major findings of this research acknowledge that the different dimensions of financial innovation that are important for a bank’s financial performance are financial product innovation and financial process innovation. A direct noteworthy relationship exists between financial innovation and financial performance. In addition, there exists a partial mediation between research & development investment fluctuation, and financial innovation and financial performance. The real-world inference of this study is that selecting the suitable financial innovation forms can boost the bank’s financial performance.Keywords
Indian Banks, Financial Innovation, Financial Performance, Investment Fluctuation, Research & DevelopmentReferences
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