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Article
Publication date: 13 June 2016

Susan Hoadley, Leigh N Wood, Leonie Tickle and Tim Kyng

– The purpose of this paper is to investigate and identify threshold concepts that are the essential conceptual content of finance programmes.

Abstract

Purpose

The purpose of this paper is to investigate and identify threshold concepts that are the essential conceptual content of finance programmes.

Design/methodology/approach

Conducted in three stages with finance academics and students, the study uses threshold concepts as both a theoretical framework and a research methodology.

Findings

The study identifies ten threshold concepts in finance that are clearly endorsed by finance academics. However, the extent to which students are explicitly aware of the threshold concepts in finance is limited.

Research limitations/implications

As well as informing further research into the design and delivery of finance programmes, the findings of the study inform the use of threshold concepts as a theoretical framework and a research methodology. The study does not explore the bounded, discursive, reconstitutive and liminal aspects of threshold concepts. Implications include the lack of recognition of more modern concepts in finance, and the need for input from industry and related disciplines.

Practical implications

The threshold concepts in finance provide the starting point for finance educators in the design and delivery of finance programmes. In particular, the threshold concepts in finance need to be made more explicit to students.

Social implications

Using the threshold concepts in finance as well as the other findings of this study to inform to finance curriculum design and delivery is likely to achieve better quality educational outcomes for finance students as well as better prepare them for professional finance roles.

Originality/value

The finance curriculum is under researched and for the first time this study identifies the threshold concepts in finance to inform the design of finance programmes.

Details

Education + Training, vol. 58 no. 5
Type: Research Article
ISSN: 0040-0912

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Article
Publication date: 7 June 2019

Samar Ashour, Craig G. Rennie and Sergio Santamaria

The purpose of this paper is to describe lessons learned from integrating student-managed investment funds (SMIFs) in finance education systems based on the case of the…

Abstract

Purpose

The purpose of this paper is to describe lessons learned from integrating student-managed investment funds (SMIFs) in finance education systems based on the case of the Raymond Rebsamen Investment Fund at the Sam M. Walton College of Business, University of Arkansas.

Design/methodology/approach

The paper has three main parts. First, it describes how the Rebsamen Fund operates as an integral part of undergraduate and graduate finance education at the Walton College. Second, it explains how the Fund spawned creation of sister funds, an institute, a 62-seat trading center, and coordinates with other agencies and stakeholders. Third, it lists strengths, weaknesses, opportunities and threats facing future SMIF integration into finance education.

Findings

The use of innovative experiential learning solutions like SMIFs bridging theory and practice can be enhanced by integrating them into effective systems of finance education.

Practical implications

Lessons learned include benefits of SMIF management by class, licensing and professional certification, trading centers, use of SMIF finances to support other components of education, proliferation of SMIFs, SMIF stimulation of academic units like centers/institutes, SMIF facilitation of collaboration, importance of tying SMIFs to student finance clubs, coordination of industry speaker visits between SMIF classes and clubs, and use of SMIFs in addressing cutting-edge challenges.

Originality/value

This paper discusses how SMIFs can be integrated in finance education.

Details

Managerial Finance, vol. 46 no. 4
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 26 August 2014

Robert C. Knoeppel, Patricia F. First, Matthew R. Della Sala and Chinasa A. Ordu

The purpose of this paper is to explore the connections between state education finance distribution models and student achievement. To date, lawsuits challenging the…

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Abstract

Purpose

The purpose of this paper is to explore the connections between state education finance distribution models and student achievement. To date, lawsuits challenging the constitutionality of state finance systems have been heard in 45 states; the judicial interpretation of the requirement to provide equality of educational opportunity has led to changes in finance distribution models as well as the implementation of accountability policy.

Design/methodology/approach

The study included district level finance and achievement data from five states. Researchers reviewed the relevant judicial interpretation of the finance system, the accountability policy, and the finance distribution system. Next, researchers calculated the equity of both the finance distribution model and measures of student achievement. Finally, an equity ratio was developed and calculated to discern the degree to which state distribution models resulted in equitable measures of student achievement.

Findings

Findings reveal that no state has both an equitable system of finance and equitable measures of student achievement. The way that states define proficiency significantly impacts the percentage of students that reach proficiency. This impacts the provision of equality of opportunity.

Originality/value

Traditionally, the measurement of equity has only been applied to finance distribution systems. The authors of this paper have applied these concepts to measures of student achievement and aligned the two concepts with the equity ratio. Since states are charged with providing sufficient resources to enable students to reach proficiency, an understanding of the interaction between resources and achievement is a critical tool in analyzing the provision of equal opportunity.

Details

Journal of Educational Administration, vol. 52 no. 6
Type: Research Article
ISSN: 0957-8234

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Book part
Publication date: 4 July 2019

Ercan Özen and Gürsel Ersoy

Introduction – Markowitz (1952) argues that individuals act rationally in their financial decisions. In contrast, Kahneman and Tversky (1979) claim that the psychological…

Abstract

Introduction – Markowitz (1952) argues that individuals act rationally in their financial decisions. In contrast, Kahneman and Tversky (1979) claim that the psychological characteristics of people significantly affect financial decisions. In making these decisions, factors such as age, gender, and educational status may have an impact.

Purpose – The purpose of this study is to determine whether financial literacy has an impact on individuals’ cognitive biases related to financial investments.

Methodology – A sample of 444 individuals were surveyed.

Findings – In the results of study (1) it was determined that financial literacy leads to differences in cognitive biases; and (2) cognitive biases of individuals who do not receive finance education are different from individuals who receive finance education and professionals in the business world. The findings indicate that the increase in the level of financial literacy of individuals will reduce the cognitive biases and heuristics, and therefore will have a positive effect on the investor behavior in financial markets.

Details

Contemporary Issues in Behavioral Finance
Type: Book
ISBN: 978-1-78769-881-9

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Article
Publication date: 13 June 2016

Christopher Bajada, Walter Jarvis, Rowan Trayler and Anh Tuan Bui

The purpose of this paper is to explore some of the implications for curriculum design by operationalizing threshold concepts and capabilities (TCC) in subject delivery…

Abstract

Purpose

The purpose of this paper is to explore some of the implications for curriculum design by operationalizing threshold concepts and capabilities (TCC) in subject delivery. The motivation for undertaking this exploration is directly related to addressing public concerns for the business school curriculum.

Design/methodology/approach

A post facto analysis of a compulsory subject in finance that is part of an Australian business degree and the impact on a subsequent finance subject.

Findings

Customary approaches to granting part-marks in assessing students, (fractionalising) understanding of content can mean students pass subjects without grasping foundational concepts (threshold concepts) and are therefore not fully prepared for subsequent subjects.

Research limitations/implications

Students passing subjects through fractionalization are poorly equipped to undertake deeper explorations in related subjects. If replicated across whole degree programs students may graduate not possessing the attributes claimed for them through their qualification. The implications for undermining public trust and confidence in qualifications are profound and disturbing.

Practical implications

The literature has exposed risks associated with operationalizing threshold through assessments. This highlights a risk to public trust in qualifications.

Originality/value

Operationalizing threshold concepts is an underexplored field in curriculum theory. The importance of operationalizing customary approaches to assessments through fractionalising marks goes to the legitimacy and integrity of qualifications granted by higher education. Operationalizing assessments for TCC presents profound, inescapable and essential challenges to the legitimacy of award granting institutions.

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Book part
Publication date: 11 January 2016

Ira Abdullah, Alisa G. Brink, C. Kevin Eller and Andrea Gouldman

We examine and compare current practices in teaching preparation in U.S. accounting, finance, management, and economics doctoral programs.

Abstract

Purpose

We examine and compare current practices in teaching preparation in U.S. accounting, finance, management, and economics doctoral programs.

Methodology/approach

We conduct an anonymous online survey of the pedagogical training practices experienced by Ph.D. students in accounting, finance, management, and economics programs in the United States.

Findings

Results indicate that accounting, finance, and management perform similarly with respect to providing doctoral students with first-hand teaching experience and requiring for-credit courses in teacher training. Accounting and management appear to utilize doctoral students as teaching assistants less than the other disciplines. A lower proportion of accounting doctoral students indicate that their program requires proof of English proficiency prior to teaching, and pedagogical mentoring is rare across disciplines. Accounting and management doctoral students feel more prepared to teach undergraduate courses compared to finance and economics students. However, all disciplines indicate a relative lack of perceived preparation to teach graduate courses.

Practical implications

This study provides empirical evidence of the current practices in pedagogical training of accounting, finance, management, and economics doctoral students.

Social implications

The results highlight several areas where accounting could possibly improve with regard to pedagogical training in doctoral programs. In particular we suggest (1) changes in the teaching evaluation process, (2) development of teaching mentorships, (3) implementing a teaching portfolio requirement, and (4) incorporation of additional methods of assisting non-native English speakers for teaching duties.

Originality/value

The study fills a gap in the literature regarding the pedagogical training in accounting doctoral programs.

Details

Advances in Accounting Education: Teaching and Curriculum Innovations
Type: Book
ISBN: 978-1-78560-767-7

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Article
Publication date: 28 October 2002

Sandra E. Strasser, Ceyhun Ozgur and David L. Schroeder

According to the Chronicle of Higher Education (2001), 15 percent of entering freshmen believe that there is a good chance they will change their college major and 8…

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633

Abstract

According to the Chronicle of Higher Education (2001), 15 percent of entering freshmen believe that there is a good chance they will change their college major and 8 percent are undecided. To gain insight into the criteria that students use to select a major, a model of the student decision making process was developed using the Analytic Hierarchy Process (AHP). This model predicted student’s first choice major with 88 percent accuracy for sophomores and seniors. An analysis of the criteria revealed judgement inconsistencies, particularly for accounting, finance, and decision science majors. Not surprisingly, sophomores were more inconsistent in their decision making than were seniors. It was also determined that students clustered the majors into two separate groups, viewing accounting, finance and decision science majors differently than marketing and management majors

Details

American Journal of Business, vol. 17 no. 2
Type: Research Article
ISSN: 1935-5181

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Case study
Publication date: 20 January 2017

S. Venkataraman, Saras D. Sarasvathy, Bidhan L. Parmar and Gosia Glinska

The case chronicles the development of Lumni, Inc., an international start-up offering innovative mechanisms for financing higher education. It focuses on: the details of…

Abstract

The case chronicles the development of Lumni, Inc., an international start-up offering innovative mechanisms for financing higher education. It focuses on: the details of decision making required to transform an idea into a viable business; building partnerships; the challenge associated with raising venture capital; and the challenges of creating a new market where human capital can be traded to finance higher education.

Details

Darden Business Publishing Cases, vol. no.
Type: Case Study
ISSN: 2474-7890
Published by: University of Virginia Darden School Foundation

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Article
Publication date: 20 February 2019

Ronald Kuntze, Chen (Ken) Wu, Barbara Ross Wooldridge and Yun-Oh Whang

The purpose of this paper is to develop and test through an experiment, an innovative online video teaching module that significantly improves financial literacy in…

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1485

Abstract

Purpose

The purpose of this paper is to develop and test through an experiment, an innovative online video teaching module that significantly improves financial literacy in college of business students. Specific business major financial literacy levels are also tested.

Design/methodology/approach

A total of 244 college of business students were given a financial literacy test. Half of the students were exposed to the “treatment” (watched a video module), while other half were not. The videos comprised 67 min of micro-lectures that students could download, free of charge, at their own convenience. The researchers analyzed the impact of a previous personal finance course on students’ financial literacy levels and tested across four business majors.

Findings

The video intervention was the most successful at increasing financial literacy, surprisingly more so than having taken a past personal finance course. Interaction effects were not significant. Four college majors were tested with a shorter, improved financial literacy measure – finding, to our surprise that non-quantitative business majors (particularly marketing students) are not less financially literate than other majors. Supporting past research, the authors found that female and African-American college students performed significantly lower on the test.

Originality/value

The research adds value to the literature by developing and testing a modern, novel teaching innovation to improve financial literacy in young adults. Using an experimental setting, the authors showed that the innovation was more effective than the commonly proscribed personal finance course. This is one of the few studies to measure financial literacy levels for specific college of business majors.

Details

International Journal of Bank Marketing, vol. 37 no. 4
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 29 May 2019

Erin Oldford

The purpose of this paper is to describe how a student-managed investment fund (SMIF) moved from an idea to an operational program over the period of a year at Memorial…

Abstract

Purpose

The purpose of this paper is to describe how a student-managed investment fund (SMIF) moved from an idea to an operational program over the period of a year at Memorial University in Newfoundland, Canada. The aim is to provide insight to other institutions on how to build capacity when developing their own SMIF.

Design/methodology/approach

I summarize the choices made with respect to funding source, governance structure, faculty involvement, recruitment, investment activities and integration into curriculum.

Findings

Underlying these choices were challenges pertaining to capacity, student competencies, the existing finance program and ties to industry. Through the development of the SMIF, efforts ensured that capacity was suitably developed in each of these areas.

Research limitations/implications

This paper provides insight to other institutions on how to build capacity while developing their own SMIF.

Practical implications

This account provides the field with a unique perspective. It is written following a year spent developing a SMIF that is about to launch.

Originality/value

This account provides the field with a unique perspective. It is written by a new faculty member following a year spent developing a SMIF that is about to launch.

Details

Managerial Finance, vol. 46 no. 4
Type: Research Article
ISSN: 0307-4358

Keywords

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