The relationship between financial socialization and financial attachment with the mediating role of financial stress
Subject Areas :
Alireza Hooshmandi
1
,
Omid *Pourheidari
2
,
Amirhossein Taebi Noghondari
3
1 - Faculty of Literature and Humanities
2 - عضو هیئت علمی دانشگاه شهید باهنر کرمان
3 - Faculty of Literature and Humanity, Islamic Azad University, Kerman Branch
Keywords: Financial socialization, financial attachment, financial stress,
Abstract :
The current research has explained the psychological concept of financial stress in building the relationship between financial socialization and financial attachment by using the principles of behavioral finance. The applied research method is survey type. Accordingly, 450 questionnaires were received online from investors in Tehran Stock Exchange and 420 questionnaires were accepted. For data analysis, structural equation method (SEM) and EMOS software version 26 and SPSS software version 27 were used. Also, the maximum likelihood estimation (MLE) method has been used to estimate the value of unknown parameters. The findings of the research indicate that there is a positive and significant direct and indirect relationship between financial socialization and financial attachment. On the other hand, the findings showed that the complete model has a better fit than the indirect model, which indicates the mediation of financial stress. That is, financial stress has partially explained the relationship between financial socialization and financial attachment. The results of this research have provided valuable information for people to identify and understand various psychological characteristics that can lead to the creation of satisfactory and safe investments so that people can protect their investments from various risks with greater peace of mind.
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