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Parents or peers, wealth or warmth? The impact of social support, wealth, and a positive outlook on self-efficacy and happiness

Parents or peers, wealth or warmth? The impact of social support, wealth, and a positive outlook... PurposeThe purpose of this paper is to investigate the association between family wealth, positive outlook, and support from significant others, including parents and friends, on self-efficacy and happiness.Design/methodology/approachThe impact of family wealth, social support, and positive outlook on self-efficacy and one’s own happiness is analyzed through the partial least squared method.FindingsThere are five essential points that can be drawn from the statistical results. First, parents’ support tends to be more important than friends’ support for individuals’ happiness. Second, individuals that receive more support from parents tend to develop a higher level of self-efficacy. Third, individuals that are in a less wealthy family tend to develop a higher level of self-efficacy. Fourth, parents’ support plays a more important role in developing a higher level of self-efficacy for individuals that are in a less wealthy family than for individuals that are in a wealthier family. Finally, the positive link between happiness and self-efficacy was stronger for individuals in a wealthier family than for individuals in a less wealthy family.Research limitations/implicationsIn particular, although individuals in a wealthier family tend to exhibit a lower level of self-efficacy, and happiness alone had no significant impact on self-efficacy, happiness significantly promoted self-efficacy more for individuals in a wealthier family than for individuals in a less wealthy family.Social implicationsIn conclusion, the results from this research provide essential recommendations for individuals regarding the approach to happiness and self-efficacy. The results indicated how significant the role of parents’ support is in one’s happiness and that support from parents is more important for one’s self-efficacy and happiness than support from friends. Furthermore, individuals should be aware that money is not the ultimate answer for happiness and self-efficacy. Individuals in less wealthy families were able to enjoy a higher level of self-efficacy given that they were receiving sufficient support from their parents.Originality/valueThis study found that although individuals in a wealthier family tend to exhibit a lower level of self-efficacy, and happiness alone has no significant impact on self-efficacy, happiness significantly promote self-efficacy more for individuals in a wealthier family than for individuals in a less wealthy family. However, in the less-wealthier family, parents play more significant role and can generate high level of self-efficacy for their children. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Social Economics Emerald Publishing

Parents or peers, wealth or warmth? The impact of social support, wealth, and a positive outlook on self-efficacy and happiness

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References (42)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0306-8293
DOI
10.1108/IJSE-01-2015-0002
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to investigate the association between family wealth, positive outlook, and support from significant others, including parents and friends, on self-efficacy and happiness.Design/methodology/approachThe impact of family wealth, social support, and positive outlook on self-efficacy and one’s own happiness is analyzed through the partial least squared method.FindingsThere are five essential points that can be drawn from the statistical results. First, parents’ support tends to be more important than friends’ support for individuals’ happiness. Second, individuals that receive more support from parents tend to develop a higher level of self-efficacy. Third, individuals that are in a less wealthy family tend to develop a higher level of self-efficacy. Fourth, parents’ support plays a more important role in developing a higher level of self-efficacy for individuals that are in a less wealthy family than for individuals that are in a wealthier family. Finally, the positive link between happiness and self-efficacy was stronger for individuals in a wealthier family than for individuals in a less wealthy family.Research limitations/implicationsIn particular, although individuals in a wealthier family tend to exhibit a lower level of self-efficacy, and happiness alone had no significant impact on self-efficacy, happiness significantly promoted self-efficacy more for individuals in a wealthier family than for individuals in a less wealthy family.Social implicationsIn conclusion, the results from this research provide essential recommendations for individuals regarding the approach to happiness and self-efficacy. The results indicated how significant the role of parents’ support is in one’s happiness and that support from parents is more important for one’s self-efficacy and happiness than support from friends. Furthermore, individuals should be aware that money is not the ultimate answer for happiness and self-efficacy. Individuals in less wealthy families were able to enjoy a higher level of self-efficacy given that they were receiving sufficient support from their parents.Originality/valueThis study found that although individuals in a wealthier family tend to exhibit a lower level of self-efficacy, and happiness alone has no significant impact on self-efficacy, happiness significantly promote self-efficacy more for individuals in a wealthier family than for individuals in a less wealthy family. However, in the less-wealthier family, parents play more significant role and can generate high level of self-efficacy for their children.

Journal

International Journal of Social Economics – Emerald Publishing

Published: Jun 12, 2017

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