The Impact of Financial Management Elements and Behavioral Intention on the Financial Performance

Abstract
To better understand how behavioural intention (BI) and financial management elements
(FME) affect insurance companies' financial performance (FP), this study will examine the
relationship. Two hundred seventy-seven insurance (277) firms in Iraq were questioned for this
cross-sectional study. Using principal component analysis, we were able to minimise the
number of variables and pinpoint the key parts that best represented the FME, BI, financial
health and performance of insurance businesses. Apart from that, we proposed and evaluated
two hypotheses regarding the significance of the association between these three insurance
company characteristics. PLS-SEM, or partial least squares-structural equation modeling, was
utilised to analyse the data. Note that a better financial success of insurance firms is correlated
with robust FME. The results strongly correlate with the insurance companies' FP and BI.
Additionally, it has been discovered that BI and FP have a strong positive link. The results
proved that BI possess a mediating impact on the relationship between FP and FME. Despite
the abundance of material on FP, FME, and BI, there is a dearth of work on effective
conceptualisation. This could have impacted how the study was conceptualised and the vague
notion of BI. As a result, we do not assert very sophisticated measuring notions in this study.
In addition, while many of the studies that are now available have examined FP statistically,
fundamentally qualitative process elements can better account for variations in the financial
success concept. Hence, more research is required to hone the qualitative notions used in this
study. The adoption of FME that give insurance businesses a persistent BI advantage over their
rivals must coincide with management efforts to improve FP at insurance companies. This
study demonstrates the importance of determining the role of BI in the association between
FME and FP to understand the FP of insurance companies. It draws on social economics