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The purpose of this paper is to present a review of the student managed investment fund at the School of Business, University of Connecticut.

The authors trace the history and growth of the fund and identify the special features and dimensions that have contributed to its success.

The operation of the fund is a constantly evolving program and the authors discuss the important changes and improvements made in the program since its inception in the early 2000s in response to growth in the number of finance majors, new career opportunities in the field of investments and most importantly, the strength of capital markets and the development of new instruments in the capital markets. The authors also discuss the common features of over 300 student funds in the USA. The authors close with a discussion of the limitations and constraints the fund advisors at, and possibly, at other schools, face in the management and administration of the fund, and also what developments and adjustments the authors expect to see in these funds in the future.

The authors combine extensive analyses of fund history and performance. The authors also provide some suggestions for the future direction and priorities for student funds.

The paper aims to investigate differences in non-professional and professional stock investors’ trust in and tendency to follow financial analysts’ buy and sell recommendations.

Online experiment conducted in Sweden in March 2022 comparing non-professional private investors (n = 80), professional investors (n = 33), and master students in finance (n = 28). Information was presented about four company stocks listed on the New York stock exchange. Two stocks were buy-recommended and two stocks sell-recommended by financial analysts. For one stock of each type, the recommendation was presented to participants. Dependent variables were predictions of the stock price after three months, ratings of confidence in the predictions and choices of holding, buying or selling the stock. Ratings were also made of the importance of presented stock-related information as well as trust in analysts’ skill and integrity.

More positive return predictions were made of buy-recommended than sell-recommended stocks. Non-professionals and to some degree finance students tended to trust financial analysts more than professional investors did and they were more influenced by the presentation of the buy recommendations. All groups made too optimistic return predictions, but the professionals were less confident in their predictions, more likely to sell the stocks and lost less on their investments.

A new finding is that non-professional stock investors are more likely than professional stock investors to trust financial analysts and follow their recommendations. It suggests that financial analysts’ recommendations influence non-professional investors to take unmotivated investment risks. Non-professionals in the stock market should hence be advised to exercise more caution in following analysts’ recommendations.

Generation Y early-career workers have the highest turnover rates ever seen. To better understand this phenomenon, this study combines the P-O values fit with the Cohort perspectives to (1) identify the work-related values of this generation, (2) explore the relation between values and turnover intentions and examine how the field of study influences this relationship and (3) verify if the turnover intentions materialized one year after the first data collection.

We interviewed 71 early-career workers and applied thematic analysis to identify the value categories. A classification decision tree tested whether the field of study influences the relation between values and turnover intentions. A post-test was conducted to determine whether the reported turnover intentions were materialized one year later.

Thematic analysis yielded 285 themes that were grouped into 12 values’ categories. Decision trees revealed that the combination of values that most predicted turnover was substantially different between Finance graduates (more instrumental and future-oriented values) and Innovation and Entrepreneurship graduates (more social and job-oriented values). The post-test confirmed that the number of respondents who reported an intention to quit their jobs during the interview with us and did quit one year later was statistically significant.

To our knowledge, this is the first study that uses critical incident interviews to explore the work-related values of this specific cohort and their relation to turnover. Our findings on the moderating effects of the field of study are unprecedented. We also identified three new work-value categories, and, to our knowledge, this is the first study that used decision trees to explore the relation between values and turnover.

The purpose of this study is to evaluate the effect of some internal features that influence the efficiency of non-bank financial institutions (NBFIs) in Bangladesh.

The study selected the top 15 Dhaka Stock Exchange (DSE)-listed NBFIs according to purposive sampling. The study period was from 2016 to 2020. Secondary data were collected from annual reports. The cost-to-income ratio was a dependent variable that was used as a proxy of operational efficiency. The ordinary least square regression technique was applied to measure the impact of firm-specific factors on efficiency.

Results showed that number of employees, branch number, firm size and deposit ratio have a significant effect on efficiency at 5% level. The number of branches and employees showed a negative impact, whereas firm size and deposit ratio showed a positive effect on the firms' efficiency. The deposit ratio is negatively related because deposit interest expenses were more than offset by interest income generation through the conversion of deposits into loans.

The study has practical and policy implications on NBFIs' managers, employees, shareholders, depositors, clients, regulatory authorities and government as efficiency enhancement would bring financial soundness.

This study shed light on some firm-specific factors that can be changed to increase operational efficiency or reduce the cost-to-income ratio. The novelty of the study is that it identified some significant associations between firm-specific factors and the operational efficiency of NBFIs.

This paper aims to provide empirical evidence for using the prospect theory (PT) basic assumptions in the Argentine context. Mainly, this study analysed the financial decision-making process in students of the economic-administrative academic area of two universities, one public and one private, in Córdoba.

The analysis methodology included (1) the descriptive statistical analysis to identify the presence of the certainty, reflection and isolation effects; (2) the construction of a set of indicators on the application of the PT; (3) the chi-squared independence test, to determine if the decisions made are independent of the degree course taken; (4) the non-parametric Kruskal–Wallis test, to determine if the decisions made by individuals vary according to the semesters taken or students' levels of progress; and (5) the non-parametric Mann–Whitney test, to determine if there are differences between the decisions made by men and women.

The empirical results provided evidence on the effects of certainty, reflection and isolation in both universities, concluding that the study participants make financial decisions in situations of uncertainty based more on PT than on expected utility theory.

This study contributes to the empirical evidence in a different Latin-American context, confirming that individuals make financial decisions based on the PT independently of their degree course, semester, level of advance, gender or the kind of university where they belong (public or private).

This paper aims to examine prospective graduate students' attitudes toward educational loan borrowing in an experimental setting.

Participants were randomly assigned to two treatment groups and one control group. Subjects in experimental group 1 received financial education: a short online course on the economic viability of getting a master's degree and how to finance it with a graduate student loan, while subjects in experimental group 2 received financial education along with information on the availability bias.

Relying on a control group in the assessment of financial literacy education intervention impacts, this research finds positive causal treatment effects on individuals’ attitudes toward debt-financed graduate education. In comparison to the control group, experimental subjects perceived the possibility of going into debt with a graduate loan to complete a master’s degree as less stressful and worrying.

This study has important educational policy implications to prevent students from stopping investing in human capital by perceiving educational loan debt as something stressful or worrying. The results can help potential (and current) grad students develop a feasible financial plan for graduate school by encouraging higher education institutions to implement educational loan information and financial education into university seminar courses for better graduate student loan decision-making.

Student attitudes toward debt have been analyzed in the context of higher education, but only a few researchers internationally have used an experimental design to study personal financial decision-making.

This study aims to develop a valid and reliable Islamic financial literacy (IFL) scale that can capture all the segments of the Islamic financial sectors and which could be considered applicable for all jurisdictions across the globe.

To build the measure, this study followed a scale development process by collecting 698 a priori items from 81 respondents. Later, it generated an item pool through the analysis of the items with experts and gave the last form (40 items) to 287 respondents in Turkey with another IFL scale that is frequently used in the literature and a scale assessing religiosity. With explanatory factor analysis, the scale demonstrates a four-factor construct with 20 items. This construct provides good fit indexes and reliability scores.

Results of the correlation analysis and comparison of the fit indexes of alternative structures provided supportive evidence for discriminant and convergent validity of the scale and its sub-dimensions. As a result, an applicable scale is developed for countries where Islamic financial institutions are operating and where they are not.

One of the strengths of this study is that it represents a comprehensive scale development for the entire Islamic financial system, including banking, takāful (Islamic insurance) and fund management. In addition, the attempt to design an IFL scale applicable to any economy or individual is a pioneering attempt in the literature.

The purpose of this paper is to explore the causes and impact of predatory online publishing on Islamic economics and finance.

The method adopted involves a library literature scan to identify the origin and expansion of predatory publishing, as references listed in the paper show. The personal experience and observation of the author over the decades of teaching at various universities endorses the evidence.

The focus on “publish or perish” has led to division of Islamic scholars into conservative and modern economists, and it led to the overuse of mathematical and parametric modeling to the disadvantage of the discipline essentially imbued with unquantifiable ethical norms and values.

The study seeks to induce fruitful and purposive change in the research designs and direction of Islamic economics and finance.

This research initiates discussion on predatory publishing, an issue so far untouched in Islamic economics. It explores its impact on the discipline and suggests ways to curb the malady.

Before the turn of the century, taking overseas students was more about a diplomatic issue dominated by the state in China, for which reason this section is relatively independent within the higher education system. However, evidence from a series of new policy documents and their impacts suggests that international student mobility (ISM) has been intensively shaped by the central government in the desire to promote its national strategy, namely the belt and road initiative. ISM policy, although with a significant proportion marketized, was introduced for a clear purpose of cultural diplomacy. The paper aims to discuss these issues.

Looking beyond the debate of market-driven vs state-dominated, this paper attempts to provide a thorough understanding of this changing pattern based on examination of key changes of policy statements along with official data analysis.

This paper argues that the new pattern must be understood against a context of a hierarchy of higher education institutes in contemporary China: a sector led by a small number of prestigious universities generously funded by the central government with a large number of ordinary universities underfunded and eager to generate income. Prestigious institutes enroll international students to satisfy performance indicators listed by policies like “Double First-rate”; other universities, benefiting from the reputation and momentum generated by the top ones, take self-funded students for profit.

By making good use of both performance indicators and market motives, the country managed to move a state-dominated ISM policy in the twentieth century into the existing state-steering marketization model and made China a major destination for overseas study.

The paper aims to address the gap in the literature related to students’ mindsets and learning activities through investigation of the differences in students’ expectations of, feelings towards, and perceptions of an overseas study tour based on their mindset. The study provides an in-depth analysis of students with different mindsets and proposes the use of overseas tours and intercultural learning to foster students’ growth mindset.

An overseas study tour hosted by a self-financing tertiary institution in Hong Kong was selected for investigation. 13 sub-degree students participated in the study tour during the summer term in 2018. Two types of primary data – quantitative (i.e., a questionnaire survey) and qualitative (i.e., in-depth interviews) – of fixed mindset and growth mindset students were collected for analysis.

The findings indicate differences in students’ expectations of, feelings towards, and perceptions of an overseas study tour depending on whether they demonstrate a fixed or growth mindset. The growth mindset students had more and higher expectations of the study tour, all of which were related to personal growth and development. The fixed mindset students did not have as much of a desire for personal development and their expectations were easily met. Both growth and fixed mindset students had positive feelings and perceptions of the tour.

Research on the application value of overseas study tours in helping students from self-financing tertiary institutions develop a growth mindset is scarce, and thus warrants further investigation.