Abstract
The Global financial crisis of 2008 raised huge disturbance on the
trend of individual employment as well as one’s psychological health
around the globe. Pakistan is confronted with the challenges of
financial threats in the form of low GDP, increasing inflation and
rising unemployment. Pakistan is facing various categories of
macroeconomic complications e.g. joblessness, less per capita income,
inflationary pressure etc. Approximately more than 3.5 million people
of Pakistan are jobless, because of this Pakistan is facing 6%
unemployment rate. Inflationary rate was 10.8 % in 2012. Therefore,
the purpose of this study was to explore the relationship between
financial threat and individual’s motivations to change one’s financial
behavior in Pakistan. This study examined the determinants of the
financial threat through the sample of the business graduates of
Pakistan. Different descriptive and inferential statistical techniques
were applied to examine the collected data. The results of the structural
equation modeling described that anxiety was significantly associated
with financial threat while financial threat was also related to the one’s
willingness to change. However, economic hardship was negatively
related with financial threat. On the other hand, it was positively
associated with willingness to change. Additionally, financial threat
mediated the association among anxiety and willingness to change.
This research has made valuable contribution in the existing literature
and provided various policy and practical suggestions to address the
problems which are facing by the university graduates related to their
financial threat
Muhammad Ishtiaq, Muhammad Shahid Tufail, Khurram Shahzad, Muhammad Aamir Naseer. (2019) Impact of Financial Threat on Individual's Willingness to Change Financial Behavior , The Dialogue, Volume 14, Issue 2.
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