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1 – 4 of 4T.P. Arjun and Rameshkumar Subramanian
This paper aims to analyse how financial literacy (FL) is conceptualised and operationalised in the Indian context.
Abstract
Purpose
This paper aims to analyse how financial literacy (FL) is conceptualised and operationalised in the Indian context.
Design/methodology/approach
A systematic literature review (SLR) was conducted using the Preferred Reporting Items for Systematic Reviews and Meta-analyses (PRISMA) protocol. Thirty-six articles published between 2010 and 2020 were considered for analysis. The FL conceptualisation was examined based on knowledge, ability, skill, attitude and confidence elements. The FL operationalisation was analysed using the modified version of the Organisation for Economic Co-operation and Development’s (OECD) Programme for International Student Assessment (PISA) 2012 model for organising the domain for an assessment framework.
Findings
The findings indicate that, despite offering operationalisation details of the FL, 13 out of 36 studies did not include a conceptual definition of FL. Of the 23 studies that mentioned a conceptual definition, 87% are primarily focused on the “knowledge” element and only 39% have combined knowledge, ability/skill and attitude elements in defining FL. As in the developed countries, the Indian studies also preferred investment/saving-related contents in their FL measures. The volume of content focusing on the financial landscape is meagre amongst the FL measures used in India and developed countries. The survey instruments of most studies have been designed in the individuals’ context but have failed to measure the extent to which individuals apply the knowledge in performing their day-to-day financial transactions. Further, it was found that 20 out of 36 studies did not convert the FL level of their target groups into a single indicator or operational value.
Originality/value
To the best of our knowledge, this is the first study that explores the FL’s assessment practices in India. Further, this study offers new insights by comparing the contents of FL measures used in Indian studies with those used in developed countries.
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Madhavarao Singuru, Kesava Rao V.V.S. and Rama Bhadri Raju Chekuri
This study aims to investigate the optimal process parameters of the wire-cut electrical discharge machining (WCEDM) for the machining of the GZR-AA7475 hybrid metal matrix…
Abstract
Purpose
This study aims to investigate the optimal process parameters of the wire-cut electrical discharge machining (WCEDM) for the machining of the GZR-AA7475 hybrid metal matrix composite (HMMC). HMMCs are prepared with 2 Wt.% graphite and 4 Wt.% zirconium dioxide reinforced with aluminium alloy 7475 (GZR-AA7475) composite by using the stir casting method. The objective is to enhance the mechanical properties of the material while preserving its unique features. WCEDM with a 0.18 mm molybdenum wire electrode is used for machining the composite.
Design/methodology/approach
To conduct experimental studies, a Taguchi L27 orthogonal array was adopted. Input variables such as peak current (Ip), pulse-on-time (TON) and flushing pressure (PF) were used. The effect of process parameters on the output responses, such as material removal rate (MRR), surface roughness rate (SRR) and wire wear ratio (WWR), were investigated. The grey relational analysis (GRA) is used to obtain the optimal combination of the process parameters. Analysis of variance (ANOVA) was also used to identify the significant process parameters affecting the output responses.
Findings
Results from the current study concluded that the optimal condition for grey relational grade is obtained at TON = 105 µs, Ip = 100 A and PF = 90 kg/cm2. Peak current is the most prominent parameter influencing the MRR, whereas SRR and WRR are highly influenced by flushing pressure.
Originality/value
Identifying the optimal process parameters in WCEDM for machining of GZR-AA7475 HMMC. ANOVA and GRA are used to obtain the optimal combination of the process parameters.
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Vijay Amrit Raj, Sahil Singh Jasrotia and Siddharth Shankar Rai
Buy-now, pay-later (BNPL) services can put consumers into a debt trap by encouraging consumers to buy things they cannot afford, leading to a culture of materialism and…
Abstract
Purpose
Buy-now, pay-later (BNPL) services can put consumers into a debt trap by encouraging consumers to buy things they cannot afford, leading to a culture of materialism and consumerism. Therefore, this research aims to investigate how materialism can influence BNPL use and impulsive and compulsive buying. Additionally, the authors examine if BNPL use and impulsive buying mediate between materialism and compulsive buying.
Design/methodology/approach
Data from 556 participants were collected through a structured questionnaire via an online survey. Structural equation modeling (SEM) using SMART PLS 4 was employed to analyze the relationship between variables and to test the proposed hypotheses.
Findings
Materialism impact BNPL use and increases the inclination for impulse buying, precipitating compulsive buying behavior. However, BNPL use does not directly influence compulsive buying. The mediating relationship was identified, where BNPL use, and impulsive buying mediate the relationship between materialism and compulsive buying.
Practical implications
BNPL use alone does not inevitably lead to compulsive buying. The only way BNPL use could lead to compulsive buying is through impulsive buying. Therefore, BNPL service providers need to foster responsible buying habits due to the rise in impulsive buying, which, if not controlled, could lead to a debt trap resulting from compulsive buying.
Originality/value
This study contributes to the limited BNPL literature because there is speculation, but the scarcity of empirical evidence to substantiate, how materialism influences BNPL use and increases the inclination for impulse buying, precipitating compulsive buying behavior.
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Given the dearth of thorough summaries in the literature, this systematic review and bibliometric analysis attempt to take a meticulous approach meant to present knowledge on the…
Abstract
Purpose
Given the dearth of thorough summaries in the literature, this systematic review and bibliometric analysis attempt to take a meticulous approach meant to present knowledge on the constantly developing subject of stock market volatility during crises. In outline, this study aims to map the extant literature available on stock market volatility during crisis periods.
Design/methodology/approach
The present study reviews 1,283 journal articles from the Scopus database published between 1994 and 2022, using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) 2020 flow diagram. Bibliometric analysis through software like R studio and VOSviewer has been performed, that is, annual publication trend analysis, journal analysis, citation analysis, author influence analysis, analysis of affiliations, analysis of countries and regions, keyword analysis, thematic mapping, co-occurrence analysis, bibliographic coupling, co-citation analysis, Bradford’s law and Lotka’s law, to map the existing literature and identify the gaps.
Findings
The literature on the effects of crises on volatility in financial markets has grown in recent years. It was discovered that volatility intensified during crises. This increased volatility can be linked to COVID-19 and the global financial crisis of 2008, as both had massive effects on the world economy. Moreover, we identify specific patterns and factors contributing to increased volatility, providing valuable insights for further research and decision-making.
Research limitations/implications
The present study is confined to the areas of economics, econometrics and finance, business, management and accounting and social sciences. Future studies could be conducted considering a broader perspective.
Originality/value
Most of the available literature has focused on the impact of some particular crises on the volatility of financial markets. The present study is not limited to some specific crises, and the suggested research directions will serve as a guide for future research.
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