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100 _aIram, T.,
_938664
245 _aDoes Financial Mindfulness Make a Difference? A Nexus of Financial Literacy and Behavioural Biases in Women Entrepreneurs
300 _a7-21 p.
520 _aThis article aims to determine the intervening strength of financial mindfulness between financial literacy and behavioural biases in women entrepreneurs. The literature has an enduring discussion regarding the profoundly unique financial behaviour of women. Financial literacy and behavioural biases constitute a recurrent research topic, yet how this nexus exists in the premise of women’s entrepreneurship is not well known. Building on this gap, we examined the impact of financial literacy on women entrepreneurs’ behavioural biases by focusing on financial mindfulness as a potential moderator. A random sample of 346 women entrepreneurs operating in Pakistan was analysed using structural equation modelling through AMOS 21. The results revealed a significant direct impact of financial literacy on reducing anchoring and herding bias; however, financial literacy was found to be unrelated to mental accounting bias. The moderation analysis further revealed interesting indirect impacts, such that financial literacy strongly reduced mental accounting and herding bias for financially mindful women. Nonetheless, financial mindfulness does not negatively catalyse the relationship between financial literacy and anchoring bias. By encompassing the concepts of financial literacy, mindfulness and behavioural biases, we offer a unique theoretical strand with practical implications for women entrepreneurs. We suggest new avenues for the longstanding dilemma related to the factors instigating suboptimal financial decision-making in women entrepreneurs in developing markets.
653 _aFinancial literacy,
653 _afinancial mindfulness,
653 _a herding bias,
653 _aanchoring bias,
653 _amental accounting
700 _aBilal, A. R.,
_938665
700 _aAhmad, Z.,
_938666
700 _aLatif, S.
_938667
773 0 _050183
_982601
_aSage Publication
_dNew Delhi Sage Publication
_o55513474
_tIIM KOZHIKODE SOCIETY AND MANAGEMENT REVIEW
942 _2ddc
_cJA-ARTICLE
999 _c54805
_d54805