Financial Behaviour Of Working People Influenced By Financial Literacy And Financial Self-Efficacy: A Sem Approach

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Sushila , Dr. Anindita Chakraborty


The objective of this study is to examine the relationship between financial literacy, financial self-efficacy, and financial behaviour of the respondents who are working in the private sector. In this study, the social cognitive theory is used to provide the basis for establishing relationships among the variables. Data was collected through a questionnaire using an online mode and the questionnaire was adapted from previous literature. Data from 165 respondents were received, out of which 129 were usable. We use PLS-3 for analysis purposes, in which we run CFA and SEM as statistical tools to analyze the data. The result of the study says that financial literacy is positively related to financial self-efficacy and financial behaviour, and financial self-efficacy acts as a mediation variable between financial literacy and financial behaviour. Financial self-efficacy mediates through competitive mediation between the two variables.

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