Social Capital Theory, Social Exchange Theory, Social Cognitive Theory, Financial Literacy, and the Role of Knowledge Sharing as a Moderator in Enhancing Financial Well-Being: From Bibliometric Analysis to a Conceptual Framework Model.

Asha Thomas,Vikas Gupta

doi:10.3389/fpsyg.2021.664638

Abstract

A person’s financial well-being (FWB) is the complete contentment gained from one’s present financial condition. This has a powerful impact on the entire achievement of an employee’s “well-being.” Researchers, financial analysts, financial planners, educationists, and economists have explored the “enablers” to improve employees’ living standards by investigating the possible “FWB” resources for decades. There is no literature available to show the connection between social capital theory, social exchange theory (SET), social cognitive theory (SCT), financial literacy and FWB, and employees’ financial knowledge sharing a moderator to expand the complete FWB.

Highlights

Financial well-being (FWB) has recently become a hot topic (Joo and Grable, 2004; Shim et al, 2009; Brüggen et al, 2017; Netemeyer et al, 2018; Collins and Urban, 2020)
This research incorporated bibliometric analysis on 192 scientific research papers that were culled out from the online web of science (WoS) database relating to the theme “financial well-being (FWB);” bibliometric R-package and biblioshiny were applied to attain and document the quantitative data relating to the numerous articles chosen; and based on a detailed review, this study proposes a conceptual model and testable propositions
Themes relating to the contentment of life and customer’s contentment are presented in the lower-left quadrant and the same are weak and insignificant

Summary

Introduction

Financial well-being (FWB) has recently become a hot topic (Joo and Grable, 2004; Shim et al, 2009; Brüggen et al, 2017; Netemeyer et al, 2018; Collins and Urban, 2020). Policymakers placed financial resilience and FWB on the top of the schedule. This offered a possibility to re-concentrate on the important factors of “financial literacy” (OECD, 2020). With savings rates at record lows and inadequate long-term financial planning for retirement (Taft et al, 2013), FWB has become an important topic for individuals and households as well as for societies and countries. There are very few researches on the aspects relating to how FWB aids an organization’s employees (Choi et al, 2020; Sabri et al, 2020).

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Conclusion