The Factors Analysis of Financial Conditions of Working Women Sandwich Generation

Sayu Ketut Sutrisna Dewi, I Gusti Bagus Wiksuana

Abstract


Balinese women are known as primary caregivers and breadwinners for their families, strength, and involvement in various community activities. The purpose of this study was to examine the factors that influence financial conditions and the role of financial literacy in mediating the relationship between factors that affect financial conditions. This research is descriptive-quantitative research using SEM-PLS analysis. The findings reveal that culture, social support, and financial literacy simultaneously positively impact financial conditions. From this research, it is also known that financial literacy acts as a mediator between the influence of culture and social support on financial conditions and also the influence of financial literacy on financial conditions. Therefore, financial literacy is very important to avoid financial pressure. Moreover, for the women of the sandwich generation to perform well while dealing with financial stress, social support is needed.

How to Cite:

Dewi, S. K. S., & Wiksuana, I. G. B. (2022). The Factors Analysis of Financial Conditions of Working Women Sandwich Generation. Signifikan: Jurnal Ilmu Ekonomi, 11(2), 299-318. https://doi.org/10.15408/sjie.v11i2.25635.

JEL Classification: M14, L31, F36, G530


Keywords


culture; social support; financial literacy; financial condition

Full Text:

PDF

References


Agarwalla, S. K., Barua, S. K., Jacob, J., & Varma, J. R. (2015). Financial Literacy among Working Young in Urban India. World Development, 67, 101–109. https://doi.org/10.1016/j.worlddev.2014.10.004.

Ashida, S., & Heaney, C. A. (2012). Differential Associations of Social Support and Social Connectedness with Structural Features of Social Networks and the Health Status of Older Adults. Journal of Aging and Health, 20(7), 872–893. https://doi.org/10.1177/0898264308324626.

Biener, C., Eling, M., & Schmit, J. T. (2014). Regulation in Microinsurance Markets: Principles, Practice, and Directions for Future Development. World Development, 58, 21–40. https://doi.org/10.1016/j.worlddev.2013.12.012.

Brown, M., Henchoz, C., & Spycher, T. (2017). Culture and Financial Literacy: Evidence from a Within-Country Language Border. Journal of Economic Behavior and Organization, 150, 62-85. https://doi.org/10.1016/j.jebo.2018.03.011.

Chijwani, M. M., & Vidyapeeth, D. Y. P. (2014). A Study of Financial Literacy Among Working Women in Pune. International Journal for Scientific Research & Development, 1(11), 2456–2458.

Craigs, C. L., Twiddy, M., Parker, S. G., & West, R. M. (2014). Understanding Causal Associations between Self-rated Health and Personal Relationships in Older Adults: A Review of Evidence from Longitudinal Studies. Archives of Gerontology and Geriatrics, 59(2), 211–226. https://doi.org/10.1016/j.archger.2014.06.009.

Deegan, A., & Dunne, S. (2022). An Investigation into the Relationship between Social Support, Stress, and Psychological Well‐being in Farmers. Journal of Community Psychology, 50(7), 3054-3069. https://doi.org/10.1002/jcop.22814.

Dewi, V. I., Febrian, E., Effendi, N., Anwar, M., & Nidar, S. R. (2020). Financial literacy and I’ts Variables: The Evidence from Indonesia. Economics & Sociology, 13(3), 133–154.

Duru, M., Therond, O., Martin, G., Martin-Clouaire, R., Magne, M.-A., Justes, E., Journet, E.-P., Aubertot, J.-N., Savary, S., & Bergez, J.-E. (2015). How to Implement Biodiversity-based Agriculture to Enhance Ecosystem Services: A Review. Agronomy for Sustainable Development, 35(4), 1259–1281. https://doi.org/10.1007/s13593-015-0306-1.

Farida, M. N., Soesatyo, Y., & Aji, T. S. (2021). Influence of Financial Literacy and Use of Financial Technology on Financial Satisfaction through Financial Behavior. International Journal of Education and Literacy Studies, 9(1), 86–95. https://doi.org/10.7575.aiac.ijels.v9n1.86.

Fletschner, D., & Mesbah, D. (2012). Gender Disparity in Access to Information: Do Spouses Share What They Know? World Development, 39(8), 1422–1433. https://doi.org/10.1016/j.worlddev.2010.12.014.

Garg, N., & Singh, S. (2018). Financial Literacy Among Youth. International Journal of Social Economics, 45(1), 173-186. https://doi.org/10.1108/IJSE-11-2016-0303.

Gottlieb, B. H., & Bergen, A. E. (2012). Social Support Concepts and Measures. Journal of Psychosomatic Research, 69(5), 511–520. https://doi.org/10.1016/j.jpsychores.2009. 10.001.

Grohmann, A. (2018). Financial Literacy and Financial Behavior: Evidence from the Emerging Asian Middle Class. Pacific-Basin Finance Journal, 48, 129–143. https://doi.org/10.1016/j.pacfin.2018.01.007.

Guin, B. (2017). Culture and Household Saving. European Central Bank Working Paper Series no. 2069.

Guiso, L., Sapienza, P., & Zingales, L. (2012). Does Culture Affect Economic Outcomes? Journal of Economic Perspectives, 20(2), 23–48.

Hayes, A. F. (2017). Introduction to Mediation, Moderation, and Conditional Process Analysis: A Regression-based Approach. Guilford Publications. New York.

Henchoz, C., Coste, T., & Wernli, B. (2019). Culture, Money Attitudes and Economic Outcomes. Swiss Journal of Economics and Statistics, 155(1), 1–13.

Heo, W., Lee, J. M., & Park, N. (2020). Financial-related Psychological Factors Affect Life Satisfaction of Farmers. Journal of Rural Studies, 80, 185–194. https://doi.org/10.1016/j.jrustud.2020.08.053.

Hung, A., Parker, A. M., & Yoong, J. (2009). Defining and Measuring Financial Literacy. RAND Labor and Population Working Paper Series. RAND Publication.

Hsu, J. W. (2016). Aging and Strategic Learning: The Impact of Spousal Incentives on Financial Literacy. Journal of Human Resources, 51(4), 1036–1067. https://doi.org/10.3368/jhr.51.4.1014-6712r.

Jamal, A. A. A., Ramlan, W. K., Karim, M. A., & Osman, Z. (2015). The Effects of Social Influence and Financial Literacy on Savings Behavior: A Study on Students of Higher Learning Institutions in Kota Kinabalu, Sabah. International Journal of Business and Social Science, 6(11), 110–119.

Kalnadi, D. (2013). Pengukuran Penerimaan dan Penggunaan Teknologi Pada UMKM Dengan Menggunakan Metode UTAUT. Universitas Lampung.

Loprinzi, P. D., & Joyner, C. (2016). Source and Size of Emotional and Financial-related Social Support Network on Physical Activity Behavior Among Older Adults. Journal of Physical Activity and Health, 13(7), 776–779. https://doi.org/10.1123/jpah.2015-0629.

Lusardi, A. (2012a). Financial Literacy and Financial Decision-Making in Older Adults. Generations, 36(2), 25–32.

Lusardi, A. (2012b). Numeracy, Financial Literacy, and Financial Decision-Making. NBER Working Papers No. 17821. https://doi.org/10.3386/w17821.

Lusardi, A., Michaud, P. C., & Mitchell, O. S. (2018). Optimal Financial Knowledge and Wealth Inequality. Journal of Political Economy, 125(2), 431-477. https://doi.org/10.1086/690950.

Mitchell, O. S. (2012). Managing Risks in Defined Contribution Plans: What Does the Future Hold? Wharton School, University of Pennsylvania.

Nirwana., Halim, A., Said, D., & Habbe, A. H. (2014). Mediation Effect of Cultural Capital on the Influence of Human Resources Capital and Physical Resources Capital towards Regional Financial Condition of the Government of South Sulawesi. Journal of Research Business and Management, 2(10), 48–53.

Nurhaliza, S. (2022). Mudah Stress, Ini Tiga Tipe Generasi Sandwich yang Perlu Diketahui. Retrieved from: https://www.idxchannel.com/milenomic/mudah-stress-ini-tiga-tipe-generasi-sandwich-yang-perlu-diketahui

OECD. (2016). Development Co-operation Report 2016 - The Sustainable Development Goals as Business Opportunities. OECD. Paris, France.

QM Financial. (2021). Pentingnya Literasi Keuangan dan 4 Cara untuk Meningkatkannya. Retrieved from: https://qmfinancial.com/2021/07/meningkatkan-literasi-keuangan/

Reed, M., & Cochrane, D. (2012). Student Debt and the Class of 2011. Project on Student Debt.

Sharif, S. P., Naghavi, N., Nia, H. S., & Waheed, H. (2020). Financial Literacy and Quality of Life of Consumers Faced with Cancer: a Moderated Mediation Approach. International Journal of Bank Marketing, 38(5), 1009-1031. https://doi.org/10.1108/IJBM-10-2019-0355..

Singh, U. (2014). Financial Literacy and Financial Stability are two aspects of Efficient Economy. Journal of Finance, Accounting & Management, 5(2), 59-76.

Swamy, V. (2014). Financial Inclusion, Gender Dimension, and Economic Impact on Poor Households. World Development, 56, 1–15. https://doi.org/10.1016/j.worlddev.2013. 10.019.

Te’eni-Harari, T. (2016). Financial Literacy Among Children: the Role of Involvement in Saving Money. Young Consumers, 17(2), 197-208. https://doi.org/10.1108/YC-01-2016-00579.

Usman, A., & Wirawan, H. (2021). The Effect of Human Capital and Physical Capital on Regional Financial Condition: the Moderating Effect of Management Control System. Heliyon, 7(5), e06945. https://doi.org/10.1016/j.heliyon.2021.e06945.

Waters, L. E., & Moore, K. A. (2012). Predicting Self‐Esteem During Unemployment: The Effect of Gender, Financial Deprivation, Alternate Roles, and Social Support. Journal of Employment Counseling, 39(4), 171–189. https://doi.org/10.1002/j.2161-1920.2002.tb00848.x.

Wijesinghe, C. J., Cunningham, N., Fonseka, P., Hewage, C. G., & Østbye, T. (2015). Factors Associated with Caregiver Burden among Caregivers of Children with Cerebral Palsy in Sri Lanka. Asia Pacific Journal of Public Health, 27(1), 85-95.

Yakoboski, P. J., Lusardi, A., Hasler, A., & Center, E. (2019). Financial Literacy in the United States and Its Link to Financial Wellness. The George Washington University School of Business and Global Financial Literacy Excellence Center (GFLEC).

Yesil, S., & Kaya, A. (2013). The Effect of Organizational Culture on Firm Financial Performance: Evidence from a Developing Country. Procedia-Social and Behavioral Sciences, 81, 428–437. https://doi.org/10.1016/j.sbspro.2013.06.455.

Zhao, F., Sun, J., Devasagayam, R., & Clendenen, G. (2018). Effects of Culture and Financial Literacy among Chinese-Americans on Participating in Financial Services. Journal of Financial Services Marketing, 23, 62–75. https://doi.org/10.1057/s41264-018-0044-y.

Zulkifli, N. S., Shukor, Z. A., & Rahman, M. (2017). Intellectual Capital Efficiency and Firm Performance in Malaysia: The Effect of Government Ownership. Asian Journal of Accounting and Governance, 8, 93–105.




DOI: https://doi.org/10.15408/sjie.v11i2.25635 Abstract - 0 PDF - 0

Refbacks

  • There are currently no refbacks.




View My Stats