Adding to the behavioural science domain, the principal idea behind the study is to investigate the impact of an array of behavioural, psychological, and demographic factors on financial decision making. The study utilizes a structured questionnaire to collect the opinions of 634 investors using a blend of random and snowball sampling techniques. The partial least squares structural equation modelling has been used to test hypotheses. PLS Predict has been applied to estimate the out-of-sample predictive power of the proposed model. Finally, the multi-group analysis has been applied to assess the differences across gender. Our findings attest the relevance of digital financial literacy, financial capability, financial autonomy, and impulsivity on financial decision making. Additionally, financial capability partially mediates the nexus between digital financial literacy and financial decision making. Also, Impulsivity negatively moderates the relationship between financial capability and financial decision making. The overall results of this comprehensive and unique study portray the influence that various psychological, behavioural, and demographic factors have on financial decision making, favouring the design of a feasible and lucrative financial portfolio to ensure financial well-being of households in the long run.

Purpose: The purpose of this paper is to integrate conventional corporate governance (CG) mechanisms into the Islamic banking framework in order to examine their impact on Islamic banks (IBs) financial performance (IBFP) within the Gulf Cooperation Council (GCC) context.Design/methodology/approach: The study uses a sample of 22 full-fledged IBs operating in the GCC countries over an 11-year period from 2005 to 2015. Using panel data approach, the paper develops an empirical model consists of five CG mechanisms and three control variables. The model parameters are estimated using feasible generalized least squares framework.Findings: The results show that five internal CG mechanisms have statistically significant relationship with IBFP, measured byQ-ratio. Insider shareholding is found to be positively associated with IBFP, while institutional and government shareholdings are found to be negatively related toQ-ratio, the results being consistent with the agency theory, strategic alignment theory and property rights theory, respectively. Moreover, the results reveal that large board size and CSR engagement negatively influence IBFP, once again lending support to agency theory and trade off theory, respectively. The control variables, namely, leverage, size and age are also found to have a statistically significant relationship with IBFP.Practical implications: IBs are urged to ensure transparency in the provision of innovative products fundamentally in contrast to conventional banking products as well as cater to the untapped markets by weaving Islamic values into the existing CG fabric, as a feasible solution to remain competitive.Originality/value: The paper examines the relationship between internal CG mechanisms and financial performance of listed and non-listed full-fledged IBs operating in the GCC countries.