Financial Planning and Self-control on Retirement Well-being through Financial Behaviour: Evidence from a Developing Country
This study explores how financial behaviour mediates the relationship between financial planning, self-control and retirement well-being among employees in Sri Lanka. Using quantitative methods and a cross-sectional research design, data was gathered from 672 employees across various sectors. The fi...
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| Format: | Article |
| Language: | English |
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Faculty of Management & Finance, University of Colombo
2024-12-01
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| Series: | Colombo Business Journal |
| Subjects: | |
| Online Access: | https://mgmt.cmb.ac.lk/cbj/wp-content/uploads/2024/12/2.-CBJ-V15I2-Financial-planning-retirement-well-being.pdf |
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| author | P. A. N. S. Anuradha T. Udayangani G. S. Jayarathna |
| author_facet | P. A. N. S. Anuradha T. Udayangani G. S. Jayarathna |
| author_sort | P. A. N. S. Anuradha |
| collection | DOAJ |
| description | This study explores how financial behaviour mediates the relationship between financial planning, self-control and retirement well-being among employees in Sri Lanka. Using quantitative methods and a cross-sectional research design, data was gathered from 672 employees across various sectors. The findings indicate a partial mediation of financial behaviour on financial planning and self-control on retirement well-being and a significant relationship between the two variables on retirement well-being. Individuals who engage in effective financial planning are more likely to exhibit positive financial behaviour, leading to better retirement well-being. Results highlight the critical role that financial behaviour plays in determining retirement well-being, with efficient financial planning having a greater impact than self-control. Findings provide valuable insights for individuals, policymakers, and researchers, facilitating informed decision-making regarding retirement well-being. Further, it contributes to the literature by introducing financial planning as having a significant impact on retirement well-being through financial behaviour in the context of a developing country. |
| format | Article |
| id | doaj-art-aa0740be9d404e3f844117e662390fe6 |
| institution | Kabale University |
| issn | 1800-363X 2579-2210 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | Faculty of Management & Finance, University of Colombo |
| record_format | Article |
| series | Colombo Business Journal |
| spelling | doaj-art-aa0740be9d404e3f844117e662390fe62025-01-04T08:06:07ZengFaculty of Management & Finance, University of ColomboColombo Business Journal1800-363X2579-22102024-12-01152285310.4038/cbj.v15i2.176Financial Planning and Self-control on Retirement Well-being through Financial Behaviour: Evidence from a Developing CountryP. A. N. S. Anuradha0https://orcid.org/0000-0003-1105-455XT. Udayangani1G. S. Jayarathna2Department of Finance, University of Sri Jayewardenepura, Sri LankaOpen University of Sri Lanka, Sri LankaFaculty of Management, Horizon Campus, Sri LankaThis study explores how financial behaviour mediates the relationship between financial planning, self-control and retirement well-being among employees in Sri Lanka. Using quantitative methods and a cross-sectional research design, data was gathered from 672 employees across various sectors. The findings indicate a partial mediation of financial behaviour on financial planning and self-control on retirement well-being and a significant relationship between the two variables on retirement well-being. Individuals who engage in effective financial planning are more likely to exhibit positive financial behaviour, leading to better retirement well-being. Results highlight the critical role that financial behaviour plays in determining retirement well-being, with efficient financial planning having a greater impact than self-control. Findings provide valuable insights for individuals, policymakers, and researchers, facilitating informed decision-making regarding retirement well-being. Further, it contributes to the literature by introducing financial planning as having a significant impact on retirement well-being through financial behaviour in the context of a developing country.https://mgmt.cmb.ac.lk/cbj/wp-content/uploads/2024/12/2.-CBJ-V15I2-Financial-planning-retirement-well-being.pdffinancial planningself-controlfinancial behaviourretirement well-beingsri lanka |
| spellingShingle | P. A. N. S. Anuradha T. Udayangani G. S. Jayarathna Financial Planning and Self-control on Retirement Well-being through Financial Behaviour: Evidence from a Developing Country Colombo Business Journal financial planning self-control financial behaviour retirement well-being sri lanka |
| title | Financial Planning and Self-control on Retirement Well-being through Financial Behaviour: Evidence from a Developing Country |
| title_full | Financial Planning and Self-control on Retirement Well-being through Financial Behaviour: Evidence from a Developing Country |
| title_fullStr | Financial Planning and Self-control on Retirement Well-being through Financial Behaviour: Evidence from a Developing Country |
| title_full_unstemmed | Financial Planning and Self-control on Retirement Well-being through Financial Behaviour: Evidence from a Developing Country |
| title_short | Financial Planning and Self-control on Retirement Well-being through Financial Behaviour: Evidence from a Developing Country |
| title_sort | financial planning and self control on retirement well being through financial behaviour evidence from a developing country |
| topic | financial planning self-control financial behaviour retirement well-being sri lanka |
| url | https://mgmt.cmb.ac.lk/cbj/wp-content/uploads/2024/12/2.-CBJ-V15I2-Financial-planning-retirement-well-being.pdf |
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