An exploratory study of financial well-being among Malaysian households

Purpose The purpose of this paper is to empirically explore the financial well-being (FWB) of Malaysian households and to construct a subjective FWB index with present and future time perspectives. Design/methodology/approach...

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Những tác giả chính:	Mahdzan, Nurul Shahnaz, Zainudin, Rozaimah, Abd, Sukor Mohd Edil, Zainir, Fauzi, Wan, Ahmad Wan Marhaini
Định dạng:	Bài viết
Ngôn ngữ:	English
Được phát hành:	University of Economics Ho Chi Minh City 2023
Truy cập trực tuyến:	https://www.emerald.com/insight/content/doi/10.1108/JABES-12-2019-0120/full/html http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115432
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spelling	oai:scholar.dlu.edu.vn:DLU123456789-1154322023-03-08T03:56:07Z An exploratory study of financial well-being among Malaysian households Mahdzan, Nurul Shahnaz Zainudin, Rozaimah Abd, Sukor Mohd Edil Zainir, Fauzi Wan, Ahmad Wan Marhaini Purpose The purpose of this paper is to empirically explore the financial well-being (FWB) of Malaysian households and to construct a subjective FWB index with present and future time perspectives. Design/methodology/approach Data were collected from 1,867 respondents across five major regions in Malaysia. Adapting the InCharge Financial Distress/Financial Well-being (IFDFW) Scale by Prawitz et al. (2006) and the method of computing an index by Devlin (2009), this study develops an FWB index using subjective measures that include future time perspectives (retirement). The index was employed to measure the FWB across low-, middle- and high-income groups and socio-demographic characteristics. Findings This study finds evidence that Malaysians' FWB is at an average level (46.8). Middle-income households' FWB (46.1) flanks between the financial well-being index (FWBI) levels of the low-income (37.4) and high-income households (58.7). Across age groups, education levels and employment sectors, the FWB of Malaysians significantly varies, although not across different ethnics, religions, zones and residential areas. Overall, the results suggest that the detrimental effects of FWB are perceived by all Malaysian households nationwide regardless of their religion, ethnicity and residential areas. Practical implications The results of this study complement the other well-being indices used by policymakers and may serve as a useful input for government and policymakers for them to formulate appropriate strategies to promote higher FWB of Malaysian households based on their socio-demographic characteristics. Originality/value This study used primary data and developed a subjective FWB index that leverages on people's perceptions of their own financial well-being while including present and future time perspectives. The main contribution of this paper is to construct an index that is easily interpretable and that complements the existing FWB indices, and to identify the segments of society that have low vis-à-vis high FWB. 2023-03-08T03:56:07Z 2023-03-08T03:56:07Z 2020 Article 2515-964X https://www.emerald.com/insight/content/doi/10.1108/JABES-12-2019-0120/full/html http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115432 10.1108/JABES-12-2019-0120 en Journal of Asian Business and Economic Studies, Volume 27, Issue 3; p. 285-302 application/pdf University of Economics Ho Chi Minh City
institution	Thư viện Trường Đại học Đà Lạt
collection	Thư viện số
language	English
description	Purpose The purpose of this paper is to empirically explore the financial well-being (FWB) of Malaysian households and to construct a subjective FWB index with present and future time perspectives. Design/methodology/approach Data were collected from 1,867 respondents across five major regions in Malaysia. Adapting the InCharge Financial Distress/Financial Well-being (IFDFW) Scale by Prawitz et al. (2006) and the method of computing an index by Devlin (2009), this study develops an FWB index using subjective measures that include future time perspectives (retirement). The index was employed to measure the FWB across low-, middle- and high-income groups and socio-demographic characteristics. Findings This study finds evidence that Malaysians' FWB is at an average level (46.8). Middle-income households' FWB (46.1) flanks between the financial well-being index (FWBI) levels of the low-income (37.4) and high-income households (58.7). Across age groups, education levels and employment sectors, the FWB of Malaysians significantly varies, although not across different ethnics, religions, zones and residential areas. Overall, the results suggest that the detrimental effects of FWB are perceived by all Malaysian households nationwide regardless of their religion, ethnicity and residential areas. Practical implications The results of this study complement the other well-being indices used by policymakers and may serve as a useful input for government and policymakers for them to formulate appropriate strategies to promote higher FWB of Malaysian households based on their socio-demographic characteristics. Originality/value This study used primary data and developed a subjective FWB index that leverages on people's perceptions of their own financial well-being while including present and future time perspectives. The main contribution of this paper is to construct an index that is easily interpretable and that complements the existing FWB indices, and to identify the segments of society that have low vis-à-vis high FWB.
format	Article
author	Mahdzan, Nurul Shahnaz Zainudin, Rozaimah Abd, Sukor Mohd Edil Zainir, Fauzi Wan, Ahmad Wan Marhaini
spellingShingle	Mahdzan, Nurul Shahnaz Zainudin, Rozaimah Abd, Sukor Mohd Edil Zainir, Fauzi Wan, Ahmad Wan Marhaini An exploratory study of financial well-being among Malaysian households
author_facet	Mahdzan, Nurul Shahnaz Zainudin, Rozaimah Abd, Sukor Mohd Edil Zainir, Fauzi Wan, Ahmad Wan Marhaini
author_sort	Mahdzan, Nurul Shahnaz
title	An exploratory study of financial well-being among Malaysian households
title_short	An exploratory study of financial well-being among Malaysian households
title_full	An exploratory study of financial well-being among Malaysian households
title_fullStr	An exploratory study of financial well-being among Malaysian households
title_full_unstemmed	An exploratory study of financial well-being among Malaysian households
title_sort	exploratory study of financial well-being among malaysian households
publisher	University of Economics Ho Chi Minh City
publishDate	2023
url	https://www.emerald.com/insight/content/doi/10.1108/JABES-12-2019-0120/full/html http://scholar.dlu.edu.vn/thuvienso/handle/DLU123456789/115432
_version_	1765278132890238976

An exploratory study of financial well-being among Malaysian households

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