Financial Distress and Health

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Author(s): Hande Şahin (Kırıkkale University, Turkey)and Sibel Erkal (Hacettepe University, Turkey)
Copyright: 2015
Pages: 11
Source title: Handbook of Research on Behavioral Finance and Investment Strategies: Decision Making in the Financial Industry
Source Author(s)/Editor(s): Zeynep Copur (Hacettepe University, Turkey)
DOI: 10.4018/978-1-4666-7484-4.ch007

Keywords: Accounting & Finance / Accounting and Finance / Business & Management / Business Science Reference

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Abstract

The fundamental socio-economic effects of economic crises on societies are decreasing income, unemployment and hence, negative progress of living standards, increasing income inequality and poverty. According to the Commission on Social Determinants of Health Report of World Health Organization, crises adversely affect many social determinants of health and thus threat health in many aspects. An important part of overall psychological well-being is satisfaction with various aspects of life. One of those domains is one's financial situation. Financial distress has been described as judgments about and responses to one's financial condition. Financial distress is a subjective phenomenon. Two individuals with the same levels of income and economic resources may have different levels of perceived financial distress. Financial distress can result in or result from poor health, or both. The purpose of the study was to explore the relationships between financial distress and health.

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