- Original authors / creators
- Fatima Hashmi; Hira Aftab; José Moleiro Martins; Mário Nuno Mata; Hamza Ahmad Qureshi; António Abreu; Pedro Neves Mata
- Original publication
- PLoS ONE · PLOS · 2021-09-07
- License & retained notices
- CC BY 4.0
© 2021 Hashmi et al
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This is an open access article distributed under the terms of the Creative Commons Attribution License, which permits unrestricted use, distribution, and reproduction in any medium, provided the original author and source are credited. Article-specific license URI: https://creativecommons.org/licenses/by/4.0/ - Edition changes
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- Evidence limits
- Adjacent research, not a directly sampled family-office study. Applicability to a family office requires separate assessment. Some of the limitations of the present study are: data collection done via online survey exhibit a self-report inventory. One of the problems with self-reported data is that there is a possibility for the respondents to misunderstand the questions or intentionally or unintentionally give wrong answers according to what they think is desired for a particular question thus, causing social desirability bias. Secondly, since the data was collected during the time of a global pandemic, COVID-19, which might have affected individual’s both physically and mentally thus, in turn influencing their responses. The instrument used for measuring the general financial behavior consisted of some question related to loans payments, credit cards and their usage, such behaviors are relatively rare for the students (with some exceptions), though these items were provided with an option of “Not Applicable”. Future studies should make use of such questions that better describe the financial behavior of students. Moreover, the sample only consisted of university students, future studies should make use of a sample population other than the students such as entrepreneurs, who manage small or medium level businesses and play a role in the economy of the country. There are a large number of other non-cognitive factors such as intuition, locus of control and self-efficacy, future studies should also throw light on the roles played by these factors on the financial capabilities and well-being of the individuals. After the pandemic is over, this study could be conducted to learn about the financial behavior and financial well-being of the individuals which they would exhibit under normal circumstances.
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- Rights and full text checked 2026-11-05. Included in this volume on 2026-11-05. Original source dates remain unchanged.
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