Search results
1 – 10 of over 121000This study examines the antecedents and outcomes of using mobile fintech applications, including mobile banking, mobile payments, mobile transfer and mobile financial money…
Abstract
Purpose
This study examines the antecedents and outcomes of using mobile fintech applications, including mobile banking, mobile payments, mobile transfer and mobile financial money management tools.
Design/methodology/approach
This paper examines the antecedents (i.e. financial education and financial literacy) and outcomes (i.e. desirable financial behaviors and financial well-being) of the utilization of mobile fintech. Using data from the 2018 National Financial Capability Study and structural equation modeling techniques, this study provides empirical evidence to show significant direct and indirect relationships among these factors.
Findings
The structural equation modeling results revealed that financial education was positively associated with both financial literacy and mobile fintech utilization. Interestingly, financial literacy was negatively associated with mobile fintech utilization and served as a negative mediator between financial education and mobile fintech utilization, while it positively correlated with desirable financial behaviors, enhancing financial well-being. Utilization of mobile fintech was negatively associated with desirable financial behaviors and indirectly and negatively associated with financial well-being. The alternative model highlighted a direct and negative association between mobile fintech usage and financial well-being, and a direct positive association between financial literacy and financial well-being.
Originality/value
This study makes contributions to the literature on financial well-being by examining pathways of antecedents and outcomes of mobile fintech utilization. The findings provide new insights into the rapid evolution of mobile fintech innovations and provide important policy and practical implications.
Details
Keywords
Mohamed Aghel, S.M.Ferdous Azam and Md Kassim Aza Azlina
The purpose of this research is to undertake a bibliometric analysis of financial performance research in of higher education sector. The study examines papers over the last…
Abstract
Purpose
The purpose of this research is to undertake a bibliometric analysis of financial performance research in of higher education sector. The study examines papers over the last 2 decades and performed performance analysis, co-citation analysis, bibliographic coupling and scientific mapping.
Design/methodology/approach
The study examines 616 documents retrieved from the Scopus database using bibliometric analysis, performance analysis and thematic clustering. The study looked at the scientific productivity of papers, prolific authors, most influencing papers, institutions and nations, keyword cooccurrence, thematic mapping, co-citations and authorship and country collaborations. VOS viewer was employed as a tool in the research to conduct the performance analysis and thematic clustering.
Findings
This study delves into the recent advancements in financial performance research within higher education, focusing particularly on the year 2023, characterized by a peak of productivity with 46 significant articles. Notable institutions contributing substantially to this discourse include the University of Sussex (UK), and Ratio Institute Stockholm (Sweden), each referenced 227 times. The United Kingdom has emerged as a leader in financial performance research, amassing 3,850 citations from 92 publications. Key journals driving this conversation include “Entrepreneurship: Theory and Practice” and “The British Journal of Political Science.” The most cited study examines the impact of business-university partnerships on innovation and financial outcomes.”
Originality/value
This is the first study that provides a performance analysis and scientific mapping of the financial performance literature in the higher education sector. In addition, this study is the initial one to do a thorough analysis and organized representation of financial performance in the higher education sector, providing an unparalleled understanding of a hitherto uninvestigated area of academic research.
Details
Keywords
Andrea Lučić, Dajana Barbić and Dijana Bojčeta Markoja
Educating audiences towards positive transformational change and targeted towards the improvement of quality of life in the field of strategic communication is almost a fairy…
Abstract
Educating audiences towards positive transformational change and targeted towards the improvement of quality of life in the field of strategic communication is almost a fairy tale. The controversy surrounding the Croatian pension fund system and its reform, low pensions, the negative demographic trends and low levels of financial and retirement literacy has put pension funds in a constant position of dealing with crisis communication strategies. At the same time, strategic communication in the industry is very traditional and is usually unnoticed. Taking a step back from a traditional goal of customer acquisitions, Croatian pension funds have pooled their efforts within the Association of Pension Funds and Pension Fund Insurance Companies in order to act as a unified group when dealing with joint interest. Recognizing the need of society to raise awareness of personal engagement in the process of retirement savings, they have decided to use education as a tool of strategic communication. This chapter has the purpose of showing how purposeful content-based valuable information can be created with the aim of influencing attitudes and behaviours in the field of personal and pension savings. During the project a quantitative study was conducted in order to investigate the effectiveness of the education on the attitudes and knowledge related to pension fund savings. The results of the quasi experiment indicate that the education has increased respondents' knowledge and positive attitudes towards retirement savings.
Details
Keywords
Introduction: The Republic of Moldova’s economy faces risks caused by the war in Ukraine and the economic crisis, proving that citizens’ prosperity is essential for national…
Abstract
Introduction: The Republic of Moldova’s economy faces risks caused by the war in Ukraine and the economic crisis, proving that citizens’ prosperity is essential for national stability and that financial knowledge influences the standard of living. A minimum financial education provides information, knowledge, and tools to make correct decisions based on informed consent in an increasingly complex financial system. In the financial-banking and academic environment, in-depth research of consumers’ financial education level helps to optimise, streamline, and balance bank–client relations with fairness. This work is the consequence of studying the level of financial education among consumers of financial-banking services, with direct implications for their financial well-being.
Purpose: The main aim of this research is to measure the financial knowledge of consumers of financial-banking services, developing recommendations for measures to improve the situation.
Methodology: To explain the factors of influence, the following research techniques were used: analysis and synthesis of conceptual approaches to financial education; deduction and induction; analysis of the findings of sociological research on the level of financial education of users of financial-banking services; and recommendation synthesis.
Findings: The research validates that enhancing financial education has a positive effect on individuals and the economy, reinstates confidence in financial markets, makes an innovative contribution to accurately assessing consumers’ financial knowledge enabling the implementation of proactive measures.
Implications: This chapter provides insights into consumers’ financial education level, serving as a crucial indicator for institutions and public authorities in formulating and promoting effective educational initiatives to ensure minimal skill gaps.
Details
Keywords
Meri Indri Hapsari, Amin Hanif Mahmud, Sri Herianingrum, R. Moh Qudsi Fauzy, Siti Ngayesah Ab. Hamid, Arka Prabaswara and Lina Mawaddatul Masfiyah
The purpose of this study is to analyse, firstly, whether education, financial inclusion, financial literacy and financial planning can be antecedents that affect Islamic welfare…
Abstract
Purpose
The purpose of this study is to analyse, firstly, whether education, financial inclusion, financial literacy and financial planning can be antecedents that affect Islamic welfare and, secondly, whether productivity can be a mediator to improve Islamic welfare.
Design/methodology/approach
This study involved quantitative research using data obtained from a survey. The respondents were 538 Muslim families in East Java, Indonesia. Structural equation modelling was used for the analysis.
Findings
This study tested 13 hypotheses, of which 10 were accepted. The accepted hypotheses refer to the effects of financial literacy on productivity, financial inclusion on productivity, financial planning on productivity, financial planning on Islamic welfare, education on Islamic welfare, productivity on Islamic welfare, financial literacy and productivity on Islamic welfare, financial inclusion and productivity on Islamic welfare and financial planning and productivity on Islamic welfare, as well as the effects of financial inclusion on Islamic welfare. Meanwhile, three hypotheses were not accepted; they refer to the effects of financial literacy on Islamic welfare, the effect of education on productivity, as well as the impact of education and productivity on Islamic welfare.
Research limitations/implications
The study was conducted only with respondents living in East Java, so the results depict the condition of Muslim families’ welfare in East Java.
Originality/value
Research into the antecedents of Islamic welfare has received little academic attention, so this study explores how education, financial inclusion, financial literacy, financial planning and productivity could affect Islamic welfare among Muslim families.
Details
Keywords
João Jungo, Mara Madaleno and Anabela Botelho
This study aims to examine the impact of financial inclusion and financial innovation on corruption, considering the moderating role of education, as well as identify the specific…
Abstract
Purpose
This study aims to examine the impact of financial inclusion and financial innovation on corruption, considering the moderating role of education, as well as identify the specific modality of digital inclusion and payments that contribute to corruption reduction.
Design/methodology/approach
The study uses a representative sample consisting of 46 African countries in three different years 2011, 2014 and 2017. On the data, feasible generalized least squares (FGLS), instrumental variables – two stages least squares (IV-2SLS) and two-stage generalized method of moments (IV-2GMM) model estimation methods were employed.
Findings
The results suggest that financial inclusion and education significantly reduce corruption. As well, the interaction between financial inclusion and education reduces corruption. Additionally, the authors find that the expansion of bank credit and the use of credit and debit cards are the specific modes of financial inclusion and digital payments that can contribute to corruption reduction.
Research limitations/implications
This study awakens policymakers in African countries about the need to consider education as an alternative measure to support financial inclusion and reduce the use of physical cash in transactions for an effective fight against corruption.
Practical implications
Regarding practical implications, the study shows that financial inclusion besides reducing poverty for households can contribute to macroeconomic stability in Africa.
Originality/value
The study uses a representative sample composed of 46 African countries and considers the role of education in moderating the relationship between financial inclusion and financial innovation on corruption. Furthermore, the study identifies the specific modality of financial inclusion and digital payments that contribute to corruption reduction.
Details
Keywords
Huanhuan ZHang and Xueping Xiong
Using survey data from Shandong, Henan and Guizhou provinces of China, the purpose of this paper is to accurately measure the impact of rural residents’ financial education on…
Abstract
Purpose
Using survey data from Shandong, Henan and Guizhou provinces of China, the purpose of this paper is to accurately measure the impact of rural residents’ financial education on financial literacy.
Design/methodology/approach
This paper chooses one province from the Eastern, Central and Western Regions of China, namely, Shandong, Henan and Guizhou, respectively, and 1,565 samples are obtained through a questionnaire survey. First, the paper constructs a financial literacy assessment framework and, then, scores the financial literacy of the respondents. Second, using ordinary least squares, feasible generalized least squares method and forward search method, the paper estimates the impact factors of financial literacy level. To avoid sample selection errors and endogeneity problems, the authors divide the respondents into treatment group (participated in financial education) and control group (non-participating in financial education) and, then, adopt propensity score matching (PSM) to analyze the impact of rural residents’ financial education on financial literacy.
Findings
The results show that education level and risk level have significant impact on rural residents’ participation in financial education, and some unobservable abilities and qualities also affect their participation. Therefore, the process of rural residents’ participation in financial education exists, which gives rise to self-selection and endogeneity problems; financial education is promoting rural residents’ financial literacy, but the effect of promotion becomes smaller after taking into account sample self-selection and endogenous problems. Rural residents of female, higher age, single, higher education level, higher parental education level, agricultural type, higher family annual per capita income and lower risk level show stronger effects on their financial literacy level, if they participate in financial education.
Research limitations/implications
The survey sample was drawn from three provinces randomly but the site selection was not random. The implication is in rural China, financial education has positive effect on residents’ financial literacy level but considering the sample self- selection and endogenous nature, its impact becomes smaller.
Practical implications
The government should encourage rural residents to participate fully in financial education activities, especially those with a low educational level, low risk preference and mainly engaged in agricultural production.
Originality/value
The effect of financial education on financial literacy has not reached a consistent conclusion, and there is fewer quantitative discussion about this issue. The originality of this paper is based on the Organization for Economic Co-operation and Development evaluation index system; this paper constructs the evaluation index system of rural residents’ financial literacy in China and uses the PSM method to accurately measure the effect of financial education on financial literacy.
Details
Keywords
For the first time, a UK financial services regulator will have a statutory duty to enhance financial education in the UK. The Financial Services Authority is now beginning to set…
Abstract
For the first time, a UK financial services regulator will have a statutory duty to enhance financial education in the UK. The Financial Services Authority is now beginning to set out in some detail how it will go about fulfilling that duty, and the issues it faces. As well as increasing consumer awareness of the financial industry and improving consumers' ability to identify their financial needs, the FSA aims to enable consumers to decide upon the purchase of financial products through the provision of the FSA's own information and advice — what may be referred to as a form of ‘solution education’. This will place the FSA in a relationship with the general public where the rights, responsibilities and expectations of, and upon, consumers must be made clear and accepted. The inability of the current regulatory regime to establish unequivocally what constitutes adequate or appropriate advice does not augur well.
Ana Luiza Paraboni, Fabricio Michell Soares, Ani Caroline Grigion Potrich and Kelmara Mendes Vieira
Financial education has become an essential component of the economic balance for families, and much is being discussed about the methods, which raise the levels of financial…
Abstract
Purpose
Financial education has become an essential component of the economic balance for families, and much is being discussed about the methods, which raise the levels of financial education of the population. Thus, the overall objective of this study was to evaluate the effect of formal and business education on the level of financial education.
Design/methodology/approach
This research is characterized as a quasi-experimental study, with undergraduate students. As a data collection technique, a structured questionnaire was used.
Findings
The results confirm the importance of formal and business education, as well as gender, for the financial education of individuals. More specifically, being male and having contact with a greater number of financial disciplines increase the level of financial education of the individual.
Originality/value
This article demonstrated that the trajectory of the knowledge traversed by individuals within the same level of schooling is of paramount importance. The results show that formal and business education can improve the levels of financial education and reinforce the relevance of strategic actions in this area.
Details
Keywords
Shulin Xu, Syed Tauseef Ali, Zhen Yang and Yunfeng Li
China's New Rural Pension Program (NRPP) has been implemented for a decade, but the factors that facilitate rural residents' participation have received little attention. This…
Abstract
Purpose
China's New Rural Pension Program (NRPP) has been implemented for a decade, but the factors that facilitate rural residents' participation have received little attention. This study aims to investigate whether financial literacy has an influence on rural residents' behavior of participation in the NRPP. In particular, this study further verifies if high financial literacy is important and whether financial education can enhance the impact of financial literacy on current, long-term and dynamic pension decisions of rural households.
Design/methodology/approach
This study investigates the impact of financial literacy on rural residents' participation in China's NRPP using the China Household Financial Survey (CHFS) Data of 2015 and 2017. This study constructs an analytical framework for current, long-term and dynamic impacts and comprehensively analyzes the value of financial literacy in the decision making of the NRPP. This study uses the instrumental variable method to solve the possible endogeneity problem. In addition, the authors also demonstrate the positive role of high financial literacy in household pension decisions. Further analysis reveals gender and regional heterogeneity in the impact of financial literacy on pension decisions. The moderating effect model explores whether financial education has a significant moderating effect on financial literacy and pension decision making of the NRPP.
Findings
Financial literacy can improve the participation behavior of households in rural areas (dynamic effect) and promote their current and long-term participation in the NRPP, choosing a higher pension contribution level in the NRPP. However, financial literacy has no significant effect on the change in the contribution amount of the NRPP. Further research finds that high financial literacy has comparative advantages in household pension decision making in rural areas. There are gender and regional differences in the impact of financial literacy on pension decisions. In addition, effective financial literacy education enhances the current, long-term and dynamic impacts of residents' financial literacy on NRPP participation and pension contributions.
Practical implications
This study comprehensively considers the impact of financial literacy on pension decision making behavior from three aspects: current, long-term and dynamic, making up for the dearth in the existing literature that only focuses on the impact of financial literacy on current financial behaviors and bridging the gap between the theoretical framework and experimental results. Our study proposes new policy implications: (1) Governments and financial institutions should pay attention to financial literacy and education levels in rural areas and carry out financial education and training programs to increase social welfare levels by increasing rural residents' participation and pension contribution. (2) The community can strengthen the policy advocacy of the NRPP and make people develop a stronger sense of trust toward it. The government can also subsidize individual accounts through financial support.
Originality/value
This study comprehensively considers the impact of financial literacy on pension decision-making behavior from three aspects: current, long-term and dynamic, making up for the dearth in the existing literature that only focuses on the impact of financial literacy on current financial behaviors and bridging the gap between the theoretical framework and experimental results. Our study proposes new policy implications: (1) Governments and financial institutions should pay attention to financial literacy and education levels in rural areas and carry out financial education and training programs to increase social welfare levels by increasing rural residents' participation and pension contribution. (2) The community can strengthen the policy advocacy of the NRPP and make people develop a stronger sense of trust toward it. The government can also subsidize individual accounts through financial support.
Details