Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda

Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda

PurposeThe purpose of this paper is to investigate the current state of research on Personal Financial Management Behavior (PFMB), with a prime focus on its antecedents and the consequences. By analyzing the research trends, methods, determinants and outcomes, the PFMB literature is synthesized, and...

Full description

Saved in:
Bibliographic Details
Published in:International journal of bank marketing 2021-10, Vol.39 (7), p.1166-1207
Main Authors: Goyal, Kirti, Kumar, Satish, Xiao, Jing Jian
Format: Article
Language:eng
Subjects:
Behavior
Cash flow
Economics
Estate planning
Financial literacy
Financial management
Households
Knowledge
Systematic review
Trends
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
recordid cdi_proquest_journals_2586379457
title Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda
format Article
creator Goyal, Kirti
Kumar, Satish
Xiao, Jing Jian
subjects Behavior
Cash flow
Economics
Estate planning
Financial literacy
Financial management
Households
Knowledge
Systematic review
Trends
ispartof International journal of bank marketing, 2021-10, Vol.39 (7), p.1166-1207
description PurposeThe purpose of this paper is to investigate the current state of research on Personal Financial Management Behavior (PFMB), with a prime focus on its antecedents and the consequences. By analyzing the research trends, methods, determinants and outcomes, the PFMB literature is synthesized, and agenda for future research is suggested. A framework is presented that portrays PFMB's antecedents and consequences and further specification of the mediation and moderation linkages.Design/methodology/approachThe review is based on 160 articles published during 1970–2020. It follows a systematic approach and presents the definitions and theories of PFMB, publication trends based on time, region, sample population, research designs, data collection and analysis techniques, along with antecedents and outcomes through content analysis.FindingsThe synthesis draws upon various factors affecting PFMB, such as demographics, socio-economic, psychological, social, cultural, financial experience, financial literacy (FL) and technological factors. The prominent outcomes of PFMB include financial satisfaction, relationship satisfaction, quality of life, financial success, happiness, financial vulnerability/resilience and financial well-being. The future research agenda sums up the recommendations in the form of research questions on variables and their linkages, followed by methodological advancements.Originality/valueThis paper covers the scholarly work done in this area in the past 51 years. To the best of authors' knowledge, this is the first attempt to offer a most comprehensive and collective scholarship of this subject. It further gives an extensive future research agenda.
language eng
source Emerald Management 120; ABI/INFORM Global
identifier ISSN: 0265-2323
fulltext fulltext
issn 0265-2323
1758-5937
url http://sfxeu10.hosted.exlibrisgroup.com/loughborough?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2024-05-22T18%3A14%3A30IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_emera&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=Antecedents%20and%20consequences%20of%20Personal%20Financial%20Management%20Behavior:%20a%20systematic%20literature%20review%20and%20future%20research%20agenda&rft.jtitle=International%20journal%20of%20bank%20marketing&rft.au=Goyal,%20Kirti&rft.date=2021-10-28&rft.volume=39&rft.issue=7&rft.spage=1166&rft.epage=1207&rft.pages=1166-1207&rft.issn=0265-2323&rft.eissn=1758-5937&rft_id=info:doi/10.1108/IJBM-12-2020-0612&rft_dat=%3Cproquest_emera%3E2586379457%3C/proquest_emera%3E%3Cgrp_id%3Ecdi_FETCH-LOGICAL-c357t-c8df733a6d38f121befc385b4e8d22870a09ca6cf705fabe2f8464be7934a2303%3C/grp_id%3E%3Coa%3E%3C/oa%3E%3Curl%3E%3C/url%3E&rft_id=info:oai/&rft_pqid=2586379457&rft_id=info:pmid/
container_title International journal of bank marketing
container_volume 39
container_issue 7
container_start_page 1166
container_end_page 1207
fullrecord <record><control><sourceid>proquest_emera</sourceid><recordid>TN_cdi_proquest_journals_2586379457</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>2586379457</sourcerecordid><originalsourceid>FETCH-LOGICAL-c357t-c8df733a6d38f121befc385b4e8d22870a09ca6cf705fabe2f8464be7934a2303</originalsourceid><addsrcrecordid>eNptkU9PAjEQxRujiYh-AG9NPK_2z-626w2IKAaiBz03Q3cqS6CL7YLh6Dd3V7iYeJrJ5L2XvN8Qcs3ZLedM302eh7OEi0QwwRKWc3FCelxlOskKqU5Jj4k8S4QU8pxcxLhkjKWqyHvke-AbtFiibyIFX1Jb-4ifW_QWI60dfcUQaw8rOq48eFu12ww8fOC6tdAhLmBX1eGeAo372OAamsrSVdVggGYbkAbcVfj1G-22x0tECHZB2xBfwiU5c7CKeHWcffI-fngbPSXTl8fJaDBNrMxUk1hdOiUl5KXUjgs-R2elzuYp6lIIrRiwwkJunWKZgzkKp9M8naMqZApCMtknN4fcTajbfrExy3ob2mbRiEznUhVpploVP6hsqGMM6MwmVGsIe8OZ6UibjrThwnSkTUe69bCDp2USYFX-a_nzHPkDSf2CCg</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><isCDI>true</isCDI><recordtype>article</recordtype><pqid>2586379457</pqid></control><display><type>article</type><title>Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda</title><source>Emerald Management 120</source><source>ABI/INFORM Global</source><creator>Goyal, Kirti ; Kumar, Satish ; Xiao, Jing Jian</creator><creatorcontrib>Goyal, Kirti ; Kumar, Satish ; Xiao, Jing Jian</creatorcontrib><description>PurposeThe purpose of this paper is to investigate the current state of research on Personal Financial Management Behavior (PFMB), with a prime focus on its antecedents and the consequences. By analyzing the research trends, methods, determinants and outcomes, the PFMB literature is synthesized, and agenda for future research is suggested. A framework is presented that portrays PFMB's antecedents and consequences and further specification of the mediation and moderation linkages.Design/methodology/approachThe review is based on 160 articles published during 1970–2020. It follows a systematic approach and presents the definitions and theories of PFMB, publication trends based on time, region, sample population, research designs, data collection and analysis techniques, along with antecedents and outcomes through content analysis.FindingsThe synthesis draws upon various factors affecting PFMB, such as demographics, socio-economic, psychological, social, cultural, financial experience, financial literacy (FL) and technological factors. The prominent outcomes of PFMB include financial satisfaction, relationship satisfaction, quality of life, financial success, happiness, financial vulnerability/resilience and financial well-being. The future research agenda sums up the recommendations in the form of research questions on variables and their linkages, followed by methodological advancements.Originality/valueThis paper covers the scholarly work done in this area in the past 51 years. To the best of authors' knowledge, this is the first attempt to offer a most comprehensive and collective scholarship of this subject. It further gives an extensive future research agenda.</description><identifier>ISSN: 0265-2323</identifier><identifier>EISSN: 1758-5937</identifier><identifier>DOI: 10.1108/IJBM-12-2020-0612</identifier><language>eng</language><publisher>Bradford: Emerald Publishing Limited</publisher><subject>Behavior ; Cash flow ; Economics ; Estate planning ; Financial literacy ; Financial management ; Households ; Knowledge ; Systematic review ; Trends</subject><ispartof>International journal of bank marketing, 2021-10, Vol.39 (7), p.1166-1207</ispartof><rights>Emerald Publishing Limited</rights><rights>Emerald Publishing Limited 2021</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c357t-c8df733a6d38f121befc385b4e8d22870a09ca6cf705fabe2f8464be7934a2303</citedby><cites>FETCH-LOGICAL-c357t-c8df733a6d38f121befc385b4e8d22870a09ca6cf705fabe2f8464be7934a2303</cites><orcidid>0000-0001-5200-1476 ; 0000-0003-3252-5672 ; 0000-0002-8270-3134</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktohtml>$$Uhttps://www.emerald.com/insight/content/doi/10.1108/IJBM-12-2020-0612/full/html$$EHTML$$P50$$Gemerald$$H</linktohtml><link.rule.ids>315,787,791,2139,27985,27986,36125,53599</link.rule.ids></links><search><creatorcontrib>Goyal, Kirti</creatorcontrib><creatorcontrib>Kumar, Satish</creatorcontrib><creatorcontrib>Xiao, Jing Jian</creatorcontrib><title>Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda</title><title>International journal of bank marketing</title><description>PurposeThe purpose of this paper is to investigate the current state of research on Personal Financial Management Behavior (PFMB), with a prime focus on its antecedents and the consequences. By analyzing the research trends, methods, determinants and outcomes, the PFMB literature is synthesized, and agenda for future research is suggested. A framework is presented that portrays PFMB's antecedents and consequences and further specification of the mediation and moderation linkages.Design/methodology/approachThe review is based on 160 articles published during 1970–2020. It follows a systematic approach and presents the definitions and theories of PFMB, publication trends based on time, region, sample population, research designs, data collection and analysis techniques, along with antecedents and outcomes through content analysis.FindingsThe synthesis draws upon various factors affecting PFMB, such as demographics, socio-economic, psychological, social, cultural, financial experience, financial literacy (FL) and technological factors. The prominent outcomes of PFMB include financial satisfaction, relationship satisfaction, quality of life, financial success, happiness, financial vulnerability/resilience and financial well-being. The future research agenda sums up the recommendations in the form of research questions on variables and their linkages, followed by methodological advancements.Originality/valueThis paper covers the scholarly work done in this area in the past 51 years. To the best of authors' knowledge, this is the first attempt to offer a most comprehensive and collective scholarship of this subject. It further gives an extensive future research agenda.</description><subject>Behavior</subject><subject>Cash flow</subject><subject>Economics</subject><subject>Estate planning</subject><subject>Financial literacy</subject><subject>Financial management</subject><subject>Households</subject><subject>Knowledge</subject><subject>Systematic review</subject><subject>Trends</subject><issn>0265-2323</issn><issn>1758-5937</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2021</creationdate><recordtype>article</recordtype><recordid>eNptkU9PAjEQxRujiYh-AG9NPK_2z-626w2IKAaiBz03Q3cqS6CL7YLh6Dd3V7iYeJrJ5L2XvN8Qcs3ZLedM302eh7OEi0QwwRKWc3FCelxlOskKqU5Jj4k8S4QU8pxcxLhkjKWqyHvke-AbtFiibyIFX1Jb-4ifW_QWI60dfcUQaw8rOq48eFu12ww8fOC6tdAhLmBX1eGeAo372OAamsrSVdVggGYbkAbcVfj1G-22x0tECHZB2xBfwiU5c7CKeHWcffI-fngbPSXTl8fJaDBNrMxUk1hdOiUl5KXUjgs-R2elzuYp6lIIrRiwwkJunWKZgzkKp9M8naMqZApCMtknN4fcTajbfrExy3ob2mbRiEznUhVpploVP6hsqGMM6MwmVGsIe8OZ6UibjrThwnSkTUe69bCDp2USYFX-a_nzHPkDSf2CCg</recordid><startdate>20211028</startdate><enddate>20211028</enddate><creator>Goyal, Kirti</creator><creator>Kumar, Satish</creator><creator>Xiao, Jing Jian</creator><general>Emerald Publishing Limited</general><general>Emerald Group Publishing Limited</general><scope>AAYXX</scope><scope>CITATION</scope><orcidid>https://orcid.org/0000-0001-5200-1476</orcidid><orcidid>https://orcid.org/0000-0003-3252-5672</orcidid><orcidid>https://orcid.org/0000-0002-8270-3134</orcidid></search><sort><creationdate>20211028</creationdate><title>Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda</title><author>Goyal, Kirti ; Kumar, Satish ; Xiao, Jing Jian</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c357t-c8df733a6d38f121befc385b4e8d22870a09ca6cf705fabe2f8464be7934a2303</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2021</creationdate><topic>Behavior</topic><topic>Cash flow</topic><topic>Economics</topic><topic>Estate planning</topic><topic>Financial literacy</topic><topic>Financial management</topic><topic>Households</topic><topic>Knowledge</topic><topic>Systematic review</topic><topic>Trends</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Goyal, Kirti</creatorcontrib><creatorcontrib>Kumar, Satish</creatorcontrib><creatorcontrib>Xiao, Jing Jian</creatorcontrib><collection>CrossRef</collection><jtitle>International journal of bank marketing</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Goyal, Kirti</au><au>Kumar, Satish</au><au>Xiao, Jing Jian</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>Antecedents and consequences of Personal Financial Management Behavior: a systematic literature review and future research agenda</atitle><jtitle>International journal of bank marketing</jtitle><date>2021-10-28</date><risdate>2021</risdate><volume>39</volume><issue>7</issue><spage>1166</spage><epage>1207</epage><pages>1166-1207</pages><issn>0265-2323</issn><eissn>1758-5937</eissn><abstract>PurposeThe purpose of this paper is to investigate the current state of research on Personal Financial Management Behavior (PFMB), with a prime focus on its antecedents and the consequences. By analyzing the research trends, methods, determinants and outcomes, the PFMB literature is synthesized, and agenda for future research is suggested. A framework is presented that portrays PFMB's antecedents and consequences and further specification of the mediation and moderation linkages.Design/methodology/approachThe review is based on 160 articles published during 1970–2020. It follows a systematic approach and presents the definitions and theories of PFMB, publication trends based on time, region, sample population, research designs, data collection and analysis techniques, along with antecedents and outcomes through content analysis.FindingsThe synthesis draws upon various factors affecting PFMB, such as demographics, socio-economic, psychological, social, cultural, financial experience, financial literacy (FL) and technological factors. The prominent outcomes of PFMB include financial satisfaction, relationship satisfaction, quality of life, financial success, happiness, financial vulnerability/resilience and financial well-being. The future research agenda sums up the recommendations in the form of research questions on variables and their linkages, followed by methodological advancements.Originality/valueThis paper covers the scholarly work done in this area in the past 51 years. To the best of authors' knowledge, this is the first attempt to offer a most comprehensive and collective scholarship of this subject. It further gives an extensive future research agenda.</abstract><cop>Bradford</cop><pub>Emerald Publishing Limited</pub><doi>10.1108/IJBM-12-2020-0612</doi><orcidid>https://orcid.org/0000-0001-5200-1476</orcidid><orcidid>https://orcid.org/0000-0003-3252-5672</orcidid><orcidid>https://orcid.org/0000-0002-8270-3134</orcidid><oa>free_for_read</oa></addata></record>