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The objective of this study is to describe financial profiles of firms via data mining method and obtain vital characteristics of performance level for the firms, which have the best financial profile of the health sector. In this study, public hospitals needed an urgent financial solution under the health sector reform steps were selected for implementation. The study covered 645 Ministry of Health hospitals, which have revolving fund in Turkey. Year of 2004 data was used in the study. As the methodology of this study, the Chi‐Square Automatic Interaction Detector or CHAID decision tree algorithm, one of the most efficient and up‐to‐date data mining method used for segmentation According to the results of the study, it was determined that financial performance of 9.15% (59 hospitals) of the covered hospitals was classified as “good” whereas 90.85% (586 hospitals) of them displayed as “bad” financial performance. Also hospitals were categorized in 12 different profiles in terms of level of financial performance by CHAID. These profiles show us what financial indicators of the hospitals should focus on for good financial performance as well as those profiles should take example to improve their financial performances. As a result of the findings, financial management policies, financial strategies and legal regulations were suggested to improve financial performance of the public hospitals and for the success of the Turkish health sector reform steps.

This study aims to assess the risk profile of millennial investors residing in the Delhi NCR region. In addition, the relationship between the risk profile and demographic traits of millennial investors was also analyzed.

Data was collected using a structured questionnaire segregated into two sections. In the first section, millennials were asked questions on socio-demographic factors, and the second section contained ten Likert-type statements to cover the multidimensionality of financial risk. Factor analysis and one-way ANOVA were used to analyze the primary data collected for this study.

The findings indicate that the risk profile of millennials is mainly affected by three factors: risk-taking capacity, risk attitude and risk propensity. Except for educational qualification and occupation, all other demographic features, such as age, gender, marital status, income and family size, seem to significantly influence the factors defining millennials' risk profile.

Uncertainty is inherent in any financial decision, and an investor’s willingness to deal with these variations determines their investment risk profile. To make sound financial decisions, it is mandatory to understand one’s risk profile. The awareness of millennials' distinctive risk profile will come in handy to financial stakeholders because they account for one-third of India’s population, and their financial decisions will shape the financial world for the decades to come.

The purpose of this paper is to identify the tools, methods and models that UK manufacturing companies adopt and apply in order to achieve resiliency and economic sustainability. The results of this work can assist in developing the foundations for defining a new joint resiliency/sustainability paradigm to assist industry.

Through a detailed, triangulated secondary data analysis and industry survey, the authors initially identify and then analyse the key resiliency and sustainability characteristics surrounding manufacturing operations. This paper initially reviews key literatures around resiliency and sustainability models and frameworks and subsequently draws out their key features and weaknesses. The work then details the research survey undertaken in to manufacturing companies aimed at identifying the resiliency/sustainability approaches that are adopted in companies. A sample of 72 manufacturing companies are used in the survey and from which the results are based.

Through analysing the fundamental business data of sales and manufacturing costs for 72 manufacturing companies, the authors cluster the companies in to four key manufacturing profiles. The work then shows through a more detailed analysis of the profiles that companies which are sustainable and more resilient in nature are, better engaged and connected to the development and application of resiliency and sustainability models. It was found that companies who seem to struggle in achieving economic sustainability or lack the ability to bounce back from various set-backs either do not employ such models or at best apply tools and techniques in an ad hoc manner.

The paper provides key insights in to the adoption of tools, techniques and models surrounding the achievement of resiliency and sustainability in manufacturing companies. In so doing, the paper offers a new view on these issues and with the profiling exercise undertaken, companies will be able to identify their position in relation to the survey companies. This can be of benefit to the wider industrial and academic community. The development of a qualitative assessment around a relatively small sample size has its obvious limitations and it is crucial that further work with a range of companies in the area of manufacturing sustainability is key to developing (and also validating) a comprehensive set of resiliency and sustainability characteristics.

The paper highlights the issues surrounding existing academic resiliency/sustainability models and through the industry survey, it provides further information on where UK manufacturing companies are on adopting specific resiliency/sustainability models. The work suggests that the resiliency/sustainability landscape of UK manufacturing companies is much more complex and that a single strategic approach towards achieving improved manufacturing performance is somewhat dated and ineffective.

The development of a set of resiliency/sustainability profiles including the identification of the specific tools and techniques adopted by industry is aimed at tackling directly the issues of improving company performance and is considered by the authors as one of a kind. The results of the survey provide essential information on the resiliency/sustainability landscape of UK manufacturing companies.

Indian investors have been exposed to a plethora of investment opportunities in the past decade and a half, after the liberalization process which commenced in 1991. Over the years, the increased competition has brought a wind of change, not just in the economic environment within the country, but also a radical change in the choices and preferences of the financial consumers. In the endeavor to provide more personalized advice to the financial consumers, financial service providers need more insights into the minds of the consumers. However, little work has been done to understand the Indian individual investor. The purpose of this paper is to study the Individual investor in India: to segment the investor into distinct behavioural groups based on their biases; to understand the investment preferences and profile of the identified segments; and to understand the implications for financial services providers.

Exploratory research, using In‐depth interviews, was undertaken to explore the manifestations of the biases among the individual investors. The initial inventory of 97 items pertaining to biases was assessed for content and face validity and subject to pilot test and subsequent rounds of modification. The final data were collected on a sample of 377 respondents, using a questionnaire that captured eight biases: Reliance on experts; Overconfidence bias; Self‐control bias; Categorisation tendency; Budgeting tendency; Adaptive tendency; Socially responsible investing bias; and Spouse effect. The segments of investor biases were identified using cluster analysis.

A cluster analysis of data, collected from individual investors was conducted in India (n=377), yielded four main segments of individual investors biases, which have been termed as the Novice Learner, the Competent Confirmer, the Cautious Anticipator and the Efficient Planner. This typology has predictive validity with regard to financial satisfaction and perceived financial market knowledge.

The paper presents a very important practical tool which can help financial service providers define their target audience more sharply and understand how people in these segments differ, behaviorally. Better understanding of investor's perceptions would help in designing more attractive financial products and development of marketing strategies that would impact the customer's financial satisfaction levels and create trust and customer loyalty.

This paper is a first of its kind to empirically identify the segments of biased behavior among investors and contributes to furthering the understanding on investor behavior.

For years institutional investors have concentrated their holdings of common stock in a relatively small group, the “institutional favorites.” While the market performance and changes in the composition of institutional favorites were reported in financial literature from the 1950s, no recent studies concerning the characteristics of firms classified as institutional favorites have been presented. The purpose of this study is to establish a financial profile for firms currently favored by financial institutions, and to determine whether these firms differ significantly from firms selected at random. It is concerned with those variables that are indicators ofthe firm’s risk‐return trade off character. As in previous studies of this nature, Multiple Discriminant Analysis was used. The results were somewhat surprising in that institutions did not seem to be drawn to what are perceived to be growth firms. As was expected, however, institutional favorites were larger in size than firms selected at random.

The ongoing evolution of the Internet and the subsequent digitalisation of financial services, along with the ever-increasing innovation of financial products, have rendered consumers more vulnerable to a wider range of fraud in the banking sector and, particularly, to consumer financial fraud (CFF). This paper aims to analyse the factors that may contribute to CFF exposure and victimisation among Spaniards, with a special focus on financial literacy.

This paper provides a comprehensive overview of leading publications on the topic, followed by empirical analyses using regression models with a sample of 6,207 Spanish individuals drawn from the Survey of Financial Competences.

Objective and subjective financial knowledge are positively correlated with CFF exposure via email but do not protect against CFF victimisation. Similarly, financial knowledge overconfidence is positively related to the former but fails to constitute a driver of the latter. Financial inclusion, measured by the number of financial products held, not only increases the risk of this exposure but also contributes to its subsequent victimisation.

To the best of the authors' knowledge, no previous paper has analysed the relationship between CFF and financial literacy by differentiating two types of vulnerabilities to fraud (exposure and victimisation) while considering different constructs of financial literacy. Dissecting these two domains may explain why the same financial literacy construct can have different effects at both stages of financial fraud and, furthermore, how different financial literacy constructs may affect the same stage of financial fraud.

Decision-making in the equity market has been a challenging task for investors belonging to all age groups. This study aims to find linkages between the decision-making techniques in the equity market and the biological age of the investor.

This is an exploratory study and by surveying a sample of 436 secondary equity investors residing in the Chennai region of India, the study measured the decision-making techniques. Using the ANOVA test, the decision-making technique mostly used by investors belonging to an age category was determined. Further, the linkages were investigated in isolation for the male and female investors. By using regression analysis, a model was developed to predict the actual equity return. The financial characteristics of the various age groups were also analyzed using cross-tabulation.

The results of the study show that the age of the investor plays an important role in the choice of decision-making technique used. The younger investors, who earn the lowest returns were less likely to use industry analysis but more likely to use technical analysis and advocate’s recommendation. Specifically, the younger male investors were less likely to use industry analysis and more likely to use the advocate’s recommendation. The younger female investors were also less likely to use industry analysis. The middle-aged respondents, who earn the highest return were less likely to use technical analysis and advocate’s recommendation owing to lower means. Specifically, the middle-aged male investors were less likely to use the advocate’s recommendation and technical analysis. Then, middle-aged female investors were more likely to use industry analysis.

The findings would be beneficial for financial advisors and wealth managers to suggest age-appropriate strategies for the various investor groups. This age-based profiling of investors would make investors aware of their decision-making techniques and encourage them to make more rational decisions.

To provide financial service marketers with information useful in targeting and marketing financial services to Hispanic American consumers.

It profiles the changing demographics of the Hispanic American financial services market and, utilizing data from the Survey of Consumer Finances, tests three hypotheses to compare financial service consumption patterns of Hispanics with those of non‐Hispanic whites.

The paper shows that the Hispanic American segment has grown in size and importance over the last decade, but that Hispanics differ markedly from their non‐Hispanic White counterparts in terms of financial product preferences and investment asset portfolio composition. Further, Hispanic Americans trail their non‐Hispanic White counterparts in terms of breadth and depth of financial holdings, particularly in the area of more risky but historically higher return asset categories.

This study examines the results of financial decisions at one point in time. Future research could involve primary studies to determine whether, financial consumption behavior changes in Hispanics over time, as they become more acculturated, and why Hispanics favor liquid short‐term assets to more risky, but potentially higher returning, longer‐term instruments.

The article provides value to financial service providers by highlighting opportunities in the Hispanic American market and offering suggestions for more effectively marketing to the Hispanic community. Among the suggestions are recognizing and reflecting the importance of emotional positioning in financial services promotion, employing both Spanish and English language communications, and sponsoring Hispanic community‐based programs to build brand awareness and loyalty.

Using a very large sample of psychometrically derived risk profiles of adult Australians, the paper aims to explore the linkage between financial risk tolerance and gender.

The key proxy of risk tolerance score (RTS) derives from a 25 question survey devised by Finametrica and used in real client situations. Using multiple regression analysis in which RTS is the dependent variable, the paper tested the importance of gender in explaining cross‐sectional variation, while controlling for a range of demographic characteristics. The impact of gender was further explored through dummy variable enhanced regression analysis constructed to test the increment in each demographic coefficient derived from being female relative to the base case of being male.

The paper documents strong evidence that women differ from men in their attitude to financial risk taking. In general, women are shown to be less risk tolerant than counterpart males, with this differential varying depending on the demographic feature considered. We also find that marital status, number of dependents, age, education, income, combined income, and net assets are significant determinants of risk tolerance in their own right.

Given the extent to which women have more conservative risk profiles and the extent to which this conservatism is exacerbated with age (given the longevity advantage of women), one would expect to see asset allocation decisions leading to an overall shift to less risky investment portfolios.

This study analyzes farmers' preferences for agricultural credit and its market structure in rural Benin using the conjoint analysis approach.

The data used come from primary sources collected from 228 randomly selected farmers. The conjoint analysis approach was used to produce the results. The bias associated with the heteroscedasticity of the error terms was fixed using the weighted least squares estimation method. Agricultural credit markets were segmented using the Calinski algorithm.

The study results reveal that farmers prefer a long-term agricultural credit with a low interest rate received via mobile banking. The interaction between a type of credit with collateral and a low interest rate is positively correlated with farmers' credit demand. The authors also found that agricultural credit markets are heterogeneous because of the heterogeneity in farmers' credit demand. This result has led to three different rural credit market segments identified in the selected study's sites. The market share simulation reveals a significant market share for the type of credit preferred by farmers in two segments.

The proven evidence from this study can guide the development of appropriate agricultural financial products that promote financial inclusion among farmers in rural Benin. More specifically, agricultural financial policies that promote digital long-term credit with low interest rate and appropriate guarantee mechanisms can promote financial inclusion among farmers and reduce the problem of asymmetric information in agricultural credit market. The study also calls for the promotion of differentiated policies across the three identified segments in order to positively impact the welfare of all farmers.

The use of agricultural financial products that include digital long-term credit with low interest rate and appropriate guarantee mechanisms promote financial inclusion and reduce asymmetric information problems in agricultural credit markets in rural Benin.

The promotion of long-term digital and cheap credit improves farmers household's wellbeing in rural Benin.

This study contributes to a better understanding of the structure of rural credit markets. It also reveals the most preferred characteristics of rural credit profiles by farmers. Besides, it validates the importance of the use of guarantee as an appropriate mechanism which minimizes the problem of asymmetric information between financial agents and farmers.