Financial obligations of employees in industrial companies and their impact on financial management behavior

Abstract

This study intends to examine how employee behavior in financial management is influenced by financial trends, internal control location, and financial socialization variables. Employees in the financial department made up the study's population. Using a proportional random sampling method and sampling according to the Slovenian formula, 91 employees were included in the sample. A questionnaire was used to gather the information. Descriptive statistical analysis and structural equation modeling - partial least squares (SEM-PLS) analysis utilizing WarpPLS 6.0 software were the analytical techniques used. The findings demonstrated that financial trends significantly and favorably affect financial management behavior. Internal control's position has a positive and significant influence on how financial management behaves. Financial management behavior is significantly and favorably impacted by financial socialization agents. The guidance that can be gained from this research is the capacity to create favorable behavioral patterns of financial management by giving money for immediate requirements, the capacity to manage one's own money, and the capacity to stay current with financial information via a variety of media.