Financial Behavior of Members of a US-Based Ghanaian Church Community - Seeking Strategies for Improvement



Afriyie, Joyce
(2021) Financial Behavior of Members of a US-Based Ghanaian Church Community - Seeking Strategies for Improvement. Doctor of Business Administration thesis, University of Liverpool.

[img] Text
201135962_May2021.pdf.pdf - Unspecified

Download (3MB) | Preview

Abstract

ABSTRACT This research thesis seeks to better understand the financial behavior of members of an Immigrant Ghanaian church community in the United States, by inquiring into the reasons behind their behavior. The enhanced understanding gained is then leveraged to find, develop and enact appropriate financial strategies to effectively manage members’ financial behavior toward improved financial behavior and wellbeing of members and the church organization as a whole. Unlike extant immigrant financial behavior literature, none of which has explored immigrants’ financial behavior in a holistic and systematic way, this present thesis takes an encompassing approach to examining immigrants’ financial behavior. It does this by exploring all key financial behavior aspects including: spending, savings, cash flow management, debt management, risk management and investment. The present research takes a further step to seek, develop and enact appropriate financial strategies to improve identified flawed aspects of participants’ financial behaviors. This is done with the aim of enhancing their financial behavior and wellbeing. Also, through this research, two key financial behavior models (Financial Health Model by Huston (2015) and Conceptual Model of Young Adults’ Financial Capability by Serido et al. (2013)) are leveraged to develop a ‘New Proposed Conceptual Model of Financial Behavior and Well-being’. This new proposed model, which has been leveraged and validated in the present study, combines key variables of the two above mentioned existing models and introduces an important variable - cultural factors – which has been silenced in the earlier models, but which is critical to managing financial behavior, especially for a culture-sharing group. This study leverages an action research strategy that employs two research methods (ethnographic research and action research methods). The ethnographic research acts as a precursor leading into the conduct of the action research. Thus, the first ethnographic research phase addresses the study’s first two research questions concerning describing the financial behavior of members of the church community and why they behave the way they do. The second action research phase leverages the understanding gleaned from the first research phase to addresses the third and final research question relating to iteratively seeking, developing, and enacting appropriate financial strategies to facilitate improved financial behavior and wellbeing of members and the church organization as a whole.

Item Type: Thesis (Doctor of Business Administration)
Divisions: Faculty of Humanities and Social Sciences > School of Management
Depositing User: Symplectic Admin
Date Deposited: 03 Jun 2021 10:32
Last Modified: 09 Nov 2021 08:22
DOI: 10.17638/03120356
Supervisors:
  • Lucianetti, Lorenzo
  • Matheus, Thomas
  • Sambrook, Sally
URI: https://livrepository.liverpool.ac.uk/id/eprint/3120356