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1 – 10 of over 66000Jayashree Bhattacharjee and Ranjit Singh
The purpose of this paper is to systematically review the literature published on the various aspects of awareness about equity investment. The paper highlights the major issues…
Abstract
Purpose
The purpose of this paper is to systematically review the literature published on the various aspects of awareness about equity investment. The paper highlights the major issues and aspects with respect to equity investment awareness. It also aims to raise specific questions for future research.
Design/methodology/approach
The study is based on secondary information collected primarily through the review of existing literature.
Findings
It is found that the important determinants of equity awareness are demographic, socio-economic and psychological factors. Financial well-being is attributable largely to financial awareness. Growth of the financial market can be credited to equity awareness. Equity awareness enables an investor to make better financial decisions, to appreciate their rights and responsibilities and to understand and manage the risk as an investor.
Practical implications
Policy makers can design the equity awareness campaign considering the different demographic and socio-economic factors. While designing such a campaign, the impact and importance of equity awareness should be illustrated, considering their demographic and socio-economic profile.
Originality/value
This study is the first one using the literature review method in the area of equity investment awareness, in particular, and financial awareness in general. This paper will be useful to researchers, academicians and those working in the area of equity investment awareness and in their understanding about the various aspects of awareness about equity investment. The paper is first of its kind, hence original in nature.
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Joyce K.H. Nga, Lisa H.L. Yong and Rathakrishnan D. Sellappan
Credit card bankruptcies in Malaysia trebled from 2006 to 2007 and study loan defaults increased by 103 percent in the same period. In response to this, the paper aims to…
Abstract
Purpose
Credit card bankruptcies in Malaysia trebled from 2006 to 2007 and study loan defaults increased by 103 percent in the same period. In response to this, the paper aims to investigate the level of general financial and product awareness among young adults. The two research questions addressed are: how do demographic factors (age, gender and education level) influence the general financial awareness, and whether undertaking a business degree promotes greater financial and product awareness amongst youth today.
Design/methodology/approach
A survey method was employed using a sample of 280 students at a private higher education institution in Subang Jaya, Malaysia. The study also develops valid and reliable scales for general financial awareness and financial product awareness. Hypothesis testing was conducted using multivariate analysis of covariance.
Findings
The findings of the study revealed that the level of education and majors influence general and financial product awareness among youths. Also, males were found to have higher levels of financial awareness compared to females.
Research limitations/implications
Future research is required to investigate whether family background has an impact on personal finance knowledge.
Practical implications
By identifying the specific areas where financial product awareness may be lacking, the paper may assist educators, regulators and financial institutions to design financial planning courses in helping youths to achieve greater financial freedom and be better equipped for retirement.
Originality/value
This paper also develops reliable and valid measurement scales for both general and financial product awareness which were not evident in previous studies. The paper's findings may prompt the educational institution and government authorities to be concerted in promoting financial planning awareness nationwide.
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Lan Thi Mai Nguyen and Phi Hoang Dinh
The authors investigate whether firms can ensure their financial stability during the coronavirus disease 2019 (COVID-19) pandemic by having ex-ante risk management.
Abstract
Purpose
The authors investigate whether firms can ensure their financial stability during the coronavirus disease 2019 (COVID-19) pandemic by having ex-ante risk management.
Design/methodology/approach
The authors study 279 Vietnamese listed firms by investigating their disclosure of risk awareness and risk management tool(s) in the 2019 annual reports. The authors then examine whether prior risk awareness and adoption of risk management tool(s) can enhance the firms' financial ratios during the COVID-19 pandemic.
Findings
The authors find that firms that disclose their risk management tool(s) in the 2019 annual reports have better asset utilization and higher liquidity during the COVID-19 pandemic than the others. However, firms that simply express their risk awareness exert no stronger financial stability. In addition, the authors document that debt management is the most popular and most effective tool to ensure firms' financial stability during the crisis.
Originality/value
The study highlights the need for ex-ante risk management for future pandemics. The authors also suggest that stakeholders can rely on the degree of risk management tool utilization to evaluate the financial stability of firms.
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Swati Anand, Kushendra Mishra, Vishal Verma and Taruna Taruna
The coronavirus disease 2019 (COVID-19) pandemic has become a global humanitarian challenge. This scourge has impacted people from all walks of life as well as every economic…
Abstract
The coronavirus disease 2019 (COVID-19) pandemic has become a global humanitarian challenge. This scourge has impacted people from all walks of life as well as every economic sector and activity, from travel to automotives, hotels to banking, and supply chain to retail. The pandemic has affected not only physical and mental health but also financial health. Studies have examined the pandemic's economic impact, but very few have examined its impact on personal finances. Efforts to contain the pandemic's spread, such as lockdowns, have resulted in suspended business operations throughout the world that have intensified joblessness. To prepare and protect people from such unforeseen situations, financial education and planning are necessary. We attempt to expand the evidence on this issue by applying a structural equation modelling approach to identify the mediating role of financial literacy programs in preparing and protecting household wealth against sudden worldwide setbacks. The research design is descriptive and exploratory using snowball sampling technique. The data was collected through an internet survey. In total, 400 survey responses were obtained. After testing the measurement model for key validity dimensions, the hypothesised causal relationships are examined in several path models. The results indicated that coronavirus awareness exerts a direct or indirect influence on the financial health of individuals through financial literacy. We conclude that financial literacy has a full mediating effect on the personal finance of individuals during the COVID-19 pandemic. The findings not only contributed to the need and understanding of financial literacy but also have managerial implications. Financial literacy programs provide investment advice and suggestions which are actionable and also work to help individuals to come out stronger in terms of knowledge and skill set when the COVID-19 crisis passes.
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Raed Khamis Alharbi, Sofri Bin Yahya and Salina Kassim
This study aims to examine the relationship between religiosity and branding on small- and medium-scale enterprises (SMEs’) performance in Saudi Arabia. It also examines the…
Abstract
Purpose
This study aims to examine the relationship between religiosity and branding on small- and medium-scale enterprises (SMEs’) performance in Saudi Arabia. It also examines the mediating role of financial literacy on the relationship among Islamic religiosity, branding and SMEs’ performance.
Design/methodology/approach
This study adopts the purposive sampling technique in three major commercial cities, namely, Riyadh, Jeddah and Al-Qassim to sample 100 SMEs each, resulting in a total sampling of 300 SMEs in Saudi Arabia. Structural equation modeling is used to analyze the hypotheses formulated in this study. The structural equation modeling is aided with the help of Smart-PLS software.
Findings
This study finds that Islamic branding (on customer, compliance and origin) significantly affect financial attitude, while Islamic religiosity affects financial awareness among the SMEs. Findings reveal that there is a mediating role of financial awareness on the relationship between Islamic branding and Islamic religiosity with the SMEs’ performance. No mediation effect was recorded for financial attitude and financial knowledge. Further investigation reveals that financial attitude, financial awareness, Islamic branding (compliance and origin) and Islamic religiosity were the most significant determinants of SMEs’ performance in the context of Saudi Arabia.
Research limitations/implications
This study is conducted on SMEs in Saudi Arabia only. Further studies are required to examine SMEs in other Islamic countries and regions to improve the explanatory power of financial literacy on Islamic religiosity and Islamic branding for improved SMEs performance.
Originality/value
This study establishes that Islamic religiosity and branding could further increase the predictive power of financial literacy on SMEs’ performance. This study concludes that efforts to improve financial literacy should be religion-based as well as culture-based depending on where the SMEs are located so that specific strategies can be implemented, to enable the conducive growth of the SMEs and maximize the contribution of the SMEs to economic growth.
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Hazlina Mohd Padil, Eley Suzana Kasim, Salwa Muda, Norhidayah Ismail and Norlaila Md Zin
This study aims to examine the relationship between budgeting skills and financial goals and the level of awareness of investment scams among university students.
Abstract
Purpose
This study aims to examine the relationship between budgeting skills and financial goals and the level of awareness of investment scams among university students.
Design/methodology/approach
An online survey was administered to university students in Malaysia. A total of 211 responses were received. The data was analysed using partial least square method based on structural equation modelling technique by using SmartPLS-3.0 and SPSS-20 statistical software.
Findings
Findings indicated that having adequate budgeting skills can significantly affect awareness of investment scam among students. This implies that early financial management education among students should focus on instilling disciplined budgeting habit to prevent them from becoming victims of investment scams. Nevertheless, when examining financial goals among the respondents, the study found that having a clear financial goal does not significantly contribute to their awareness in identifying investment scams. As such, students need to be properly guided in setting their financial objectives such as avoiding unrealistic goals to lead a luxurious lifestyle using “fast and easy” money.
Social implications
This study recommends that higher education institutions need to work together with relevant regulators and law enforcers in providing necessary financial literacy education as part of the investment scam prevention measures.
Originality/value
This study contributes to the literature gap on the need to focus on financial literacy in creating awareness towards investment scams among university students.
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Haruna Musa, Nor Hayati Binti Ahmad and Alias Mat Nor
This study aims to expand the theory of planned behaviour (TPB) to understand determinants of financial inclusion participation behaviour through the mediating effect of Islamic…
Abstract
Purpose
This study aims to expand the theory of planned behaviour (TPB) to understand determinants of financial inclusion participation behaviour through the mediating effect of Islamic finance product (IFP) adoption.
Design/methodology/approach
A quantitative research design was deployed using primary data from a survey conducted within the Muslim-dominated regions in Nigeria, which was analysed using partial least squares structural equation modelling.
Findings
It was found that the original TPB variables, attitude, subjective norms, perceived behavioural control (PBC) and behavioural intention have strong positive influences on financial inclusion participation behaviour, however, among the new variables, government support and IFPs adoption directly influence, while awareness and access to banking and digital channels were not. Furthermore, IFPs adoption significantly mediates the relationship between attitude, behavioural intention, government support and access to banking and digital channels and financial inclusion participation, but it failed to mediate that of subjective norms, PBC and awareness.
Research limitations/implications
These findings imply the need to establish more Islamic financial institutions or conventional banks to introduce IFPs in Muslim-dominated regions in Nigeria, as such products are desirable in expanding financial inclusion. While such is being pursued, policymaking bodies responsible for financial inclusion should design appropriate programmes to create awareness of IFPs for expanding financial inclusion.
Originality/value
To the best of the authors’ knowledge, this study could be the first to expand the TPB by integrating IFP adoption as a mediator within the context of financial inclusion participation as well as the incorporation of awareness, government support and access to banking and digital channels as additional variables.
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Eley Suzana Kasim, Noor Rohin Awalludin, Nurazilah Zainal, Allezawati Ismail and Nurul Huda Ahmad Shukri
This study aims to investigate the effects of financial literacy, financial behaviour and financial stress on awareness of investment scams among retirees.
Abstract
Purpose
This study aims to investigate the effects of financial literacy, financial behaviour and financial stress on awareness of investment scams among retirees.
Design/methodology/approach
Using a questionnaire survey, data was distributed to 200 retirees. A total of 53 responses were obtained. The data was subsequently analysed using PLS-SEM version 3 software.
Findings
Findings indicated that while financial literacy has a significant influence on awareness, there is no conclusive evidence to support the relationship between financial behaviour and financial stress on awareness. These results highlighted the critical need to strengthen financial literacy among retirees as a prevention mechanism for them to avoid from being scammed.
Research limitations/implications
The finding from this study is relevant to regulators and law enforcement agencies to aid potential and actual retirees by educating them on the danger of investment scams.
Originality/value
As there are relatively few studies conducted on investment scams specifically among retirees, this study extends the investment scam literature by examining the underlying factors that affect their awareness towards the fraudulent activities.
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Mohammed Hersi Warsame and Edward Mugambi Ireri
The purpose of this paper is to examine the direct and indirect moderation effects of demographic and socio-economic(s) factors on the adoption of Islamic banking in UAE.
Abstract
Purpose
The purpose of this paper is to examine the direct and indirect moderation effects of demographic and socio-economic(s) factors on the adoption of Islamic banking in UAE.
Design/methodology/approach
Convenience sampling was done on the residents of Sharjah, Dubai, and Abu Dhabi. A closed-ended questionnaire with 30 items was designed and pre-tested before the start of the study. Path analysis and moderation testing were the main analytical approach. A total of 320 respondents completed the survey.
Findings
The research revealed that demographic and socio-economic(s) moderators may have direct and indirect moderation effects on the adoption of the Islamic banking in the UAE, which indicates the importance of these factors in the provision of Islamic banking products and services in the UAE.
Practical implications
This study further revealed that these moderators have huge practical implications for Islamic bank managers and marketers as they can exploit these demographics to enhance their market share in the UAE.
Social implications
In UAE, minimal attention has been directed toward the role moderators would play in the criterion that individual investors would use in the adoption of Islamic banking products and services in a cosmopolitan environment that is experiencing competition from conventional banks.
Originality/value
An extensive review of the existing literature on the adoption of Islamic banking reveals that no empirical research has been undertaken to explore the role played by demographic and socio-economic(s) moderators in the adoption of Islamic banking in UAE and internationally. This study attempts to fill this gap.
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Manaf Al-Okaily, Hamza Alqudah, Anas Ali Al-Qudah, Naim S. Al-Qadi, Hamzah Elrehail and Aws Al-Okaily
Despite extensive discussion of this topic in the life and financial transactions of people, there is a lack of empirical evidence related to challenges and opportunities of…
Abstract
Purpose
Despite extensive discussion of this topic in the life and financial transactions of people, there is a lack of empirical evidence related to challenges and opportunities of digital financial inclusion sustainability in the existing literature. Accordingly, this study aims at investigating the factors that influence the diffusion rate of digital financial services.
Design/methodology/approach
In this study, the authors propose an integrated model by synthesising the extended Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) with the perceived security and perceived privacy as independent variables, as well as the financial awareness as the moderator variable. The survey was distributed to the potential users of digital financial services rather than the actual users. A total of 270 responses were analysed by a quantitative method of Partial Least Squares-Structural Equation Modelling (PLS-SEM).
Findings
The results indicated the significant role of the postulated hypotheses that behavioural intention to use digital financial services platforms is significantly and positively influenced by the subjective norm, performance expectancy, price value, perceived security and perceived privacy, whilst the financial awareness was found to moderate some specified relationships.
Originality/value
There are few studies on this topic for the Arabian context. The information presented in this article can be useful for professionals and researchers, and further, implications of the study are discussed.
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