The effect of social responsibility on the relationship between financial literacy and attitude towards money and financial well-being

Articles in Press

Document Type : Original Article

Authors

1 Department of accounting.Qom branch.Islamic azad UniverCity.Qom. Iran

2 Department of accounting.East tehran branch.Islamic azad univercity .Tehran. iran

3 Department of accounting.Qom branch.Islamic azad University.Qom. Iran

10.22034/iaas.2023.360664.1350

Abstract

Governments, through financial services organizations, enact regulations to improve financial literacy and inclusion for consumers or the general public. According to these regulations, all financial service businesses are required to prepare an activity plan to promote financial literacy in the society. The implementation of the plan can be part of the company's social responsibility activities and as an effort to support programs to increase financial literacy and strengthen financial inclusion so that they can have a closer and more intensive interaction with people directly. Therefore, the purpose of this article is to investigate the effect of financial literacy and attitude towards money with the mediating role of social responsibility on financial well-being.

This study uses a mixed approach (primary qualitative and quantitative case study). The number of sample members was used from Cochran's formula for unlimited society and data was collected from 398 people through a questionnaire among managers, experts, students and ordinary people living in Tehran and in the time period of 1400. Structural equation modeling method and PLS software were used to test the hypotheses.

The results showed that financial literacy and attitude towards money have an effect on financial well-being as a mediator of social responsibility. Learning experiences increase understanding of the importance of ethics and personal responsibilities and help individuals develop interpersonal skills, cultural skills, and ethical sensitivity while improving technical skills in their field.

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Main Subjects

Accounting and Auditing Studies

Articles in Press, Accepted Manuscript
Available Online from 11 October 2023

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