Financial Well-Being Model for Bank Employees: the Role of Financial Behavior as a Mediator

Hendro Setiawan; Rr Iramani

doi:10.14414/jebav.v26i2.3948

Vol. 26 No. 2 (2023), Articles

Vol. 26 No. 2 (2023)

Financial Well-Being Model for Bank Employees: the Role of Financial Behavior as a Mediator

Articles

DOI: 10.14414/jebav.v26i2.3948

Published 31-10-2023

Hendro Setiawan⁺⁻
Rr Iramani⁺⁻

Hendro Setiawan

Universitas Hayam Wuruk Perbanas

Rr Iramani

ID Scopus 57202376359, Universitas Hayam Wuruk Perbanas, Surabaya

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Keywords

Financial well-being
Financial knowledge
Financial socialization
Lifestyle
Financial stress
Financial behavior

How to Cite

Setiawan, H., & Iramani, R. (2023). Financial Well-Being Model for Bank Employees: the Role of Financial Behavior as a Mediator. Journal of Economics, Business, and Accountancy Ventura, 26(2), 205-219. https://doi.org/10.14414/jebav.v26i2.3948

This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.

Abstract

The aim of this study is to investigate the factors influencing the financial well-being of Bank Jatim employees in Indonesia. These factors encompass financial knowledge, financial socialization, internal locus of control, lifestyle, and current financial stress. Additionally, the study delves into the role of financial behavior as a mediator in this model of financial well-being. The respondents in this study are permanent employees of Bank Jatim, Indonesia, selected through purposive sampling. The findings reveal that financial knowledge, financial socialization, and current financial stress directly impact financial well-being. Internal locus of control affects financial well-being both directly and indirectly, mediated by financial behavior. However, financial behavior doesn't serve as a mediator for the influence of lifestyle on the financial well-being of bank employees. Furthermore, the results do not provide sufficient evidence for financial behavior mediating the effects of other determinant variables. For the company, this implies that enhancing the financial well-being of bank employees should involve efforts to augment their financial knowledge, promote financial socialization, and encourage a composed approach to managing their financial situations. As for bank employees, achieving financial well-being necessitates maintaining an internal locus of control and exhibiting prudent financial management behaviors.

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Financial Well-Being Model for Bank Employees: the Role of Financial Behavior as a Mediator

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