Money, Metropolis and Mindsets: Mapping the Dynamics of Investors’ Financial Behaviour and Satisfaction

The study investigates the key determinants of financial satisfaction among investors in India’s two leading metropolitan cities. Employing structural equation modelling, the research integrates the expectation confirmation model (ECM) and evaluative congruity theory (ECT) to examine the factors influencing financial satisfaction among 575 investors. The proposed model analyses both direct and indirect relationships through mediation and moderation techniques. Findings reveal that investors’ perceptions, financial socialization and metropolis investment opportunities impact financial behaviour, which, in turn, enhances financial satisfaction. Moreover, financial self-efficacy positively moderates the relationship between financial behaviour and satisfaction, whereas inflation weakens the relationship. The study offers valuable insights for financial professionals, investors, policymakers and educational institutions by emphasizing the dynamic interplay between individual, social and environmental factors in shaping financial behaviour and satisfaction. The study contributes to the theoretical development of financial satisfaction models by extending and integrating the ECM and ECT into a comprehensive conceptual framework.