Search results
1 – 10 of over 6000Mitali Panchal Arora, Sumit Lodhia and Gerard William Stone
With the accelerated global adoption of integrated reporting, this paper aims to understand the role of practicing accountants in integrated reporting.
Abstract
Purpose
With the accelerated global adoption of integrated reporting, this paper aims to understand the role of practicing accountants in integrated reporting.
Design/methodology/approach
Using the case study approach, data was collected from semi-structured interviews in six international organisations that have adopted integrated reporting. Institutional work provided the theoretical insights for this study.
Findings
The study found that accountants were an indispensable part of the integrated reporting process because of their strength and knowledge in corporate reporting. However, despite having the potential to engage, it was noted that accountants currently do not apply their key reporting skills in the integrated reporting context. It was observed that accountants’ roles were limited to carrying out their traditional routine financial reporting activities including reporting on the financial aspects of the report, developing key performance indicators and assisting with assurance related tasks.
Research limitations/implications
This study adds to the limited literature by providing a comprehensive understanding of how accountants are currently involved in integrated reporting. This study suggests that accountants are seeking to maintain their existing institutional practices.
Practical implications
A need for accountants to move beyond maintaining their institutional roles and engage more extensively in integrated reporting is emphasised.
Originality/value
Through its focus on human agency, this study applied institutional work to integrated reporting, thereby expanding literature on integrated reporting and the roles performed by accountants in this process. This study also contributes to the conceptualisation of maintaining institutions strategies through the development of the cooperative strategy.
Details
Keywords
Agnes Noelin Nassuna, Diana Nandagire Ntamu, Julius Kikooma, Samuel Ssekajja Mayanja and Edith Basalirwa
This paper investigates financial resilience within selected micro small and medium enterprises (MSMEs) and how it is used as a growth tool amidst coronavirus disease 2019…
Abstract
Purpose
This paper investigates financial resilience within selected micro small and medium enterprises (MSMEs) and how it is used as a growth tool amidst coronavirus disease 2019 (COVID-19) threats.
Design/methodology/approach
An appreciative inquiry qualitative approach using a positive orientation with a case study design instead of the conventional problem-oriented approach was used. It focuses on successful MSMEs that experienced growth amidst the first wave of COVID-19 despite the large number of MSMEs that were affected negatively by the pandemic.
Findings
The results indicate that the MSMEs that were growing at an epic rate during COVID-19 exhibited financial resilience due to savings, innovative leadership, financial knowledge, experience and social capital. These businesses maintained client relationships and accessed financial capital.
Research limitations/implications
The study was qualitative based on a few cases.
Practical implications
Business owners/managers should learn financial literacy, entrepreneurial skills and leadership skills and build social capital which are tenets of financial resilience during turbulent times.
Originality/value
The study contributes to the continuity of MSMEs in developing economies during times of uncertainty.
Details
Keywords
Andrea Lučić and Marija Uzelac
This study aims to explore possible behavioural change venues, beyond the traditional approach to financial education, using the capability-opportunity-motivation behaviour…
Abstract
Purpose
This study aims to explore possible behavioural change venues, beyond the traditional approach to financial education, using the capability-opportunity-motivation behaviour theoretical framework of behavioural change.
Design/methodology/approach
The study included 45, semi-structured, in-depth interviews of young adults to explore which elements of financial behaviour formation should interventions target to be effective.
Findings
To strengthen capability, the study recommends behavioural education and training for boosting financial knowledge and skills, enablement of financial independence and modelling for empowering self-control and reducing impulsiveness. To boost motivation, gamification of modelling is advised for boosting responsible financial behaviour as part of the identity and inducing consideration of future consequences. Persuasion is advised for inducing positive emotions while incentivization and coercion are advised for empowering self-conscious intentions. To rise opportunity, the study proposes incentivization and coercion imposed by parents, and governmental efforts regarding restriction, enablement and environmental restructuring.
Practical implications
The study brings recommendations for developing efficient interventions for strengthening responsible financial behaviour that may help design type-specific education programmes to promote responsible financial behaviour.
Originality/value
The present study attempts to explore new venues in intervention design that break away from the traditional approach of financial education focused on knowledge and skills that is proven to be ineffective
Details
Keywords
Introduction: The Republic of Moldova’s economy faces risks caused by the war in Ukraine and the economic crisis, proving that citizens’ prosperity is essential for national…
Abstract
Introduction: The Republic of Moldova’s economy faces risks caused by the war in Ukraine and the economic crisis, proving that citizens’ prosperity is essential for national stability and that financial knowledge influences the standard of living. A minimum financial education provides information, knowledge, and tools to make correct decisions based on informed consent in an increasingly complex financial system. In the financial-banking and academic environment, in-depth research of consumers’ financial education level helps to optimise, streamline, and balance bank–client relations with fairness. This work is the consequence of studying the level of financial education among consumers of financial-banking services, with direct implications for their financial well-being.
Purpose: The main aim of this research is to measure the financial knowledge of consumers of financial-banking services, developing recommendations for measures to improve the situation.
Methodology: To explain the factors of influence, the following research techniques were used: analysis and synthesis of conceptual approaches to financial education; deduction and induction; analysis of the findings of sociological research on the level of financial education of users of financial-banking services; and recommendation synthesis.
Findings: The research validates that enhancing financial education has a positive effect on individuals and the economy, reinstates confidence in financial markets, makes an innovative contribution to accurately assessing consumers’ financial knowledge enabling the implementation of proactive measures.
Implications: This chapter provides insights into consumers’ financial education level, serving as a crucial indicator for institutions and public authorities in formulating and promoting effective educational initiatives to ensure minimal skill gaps.
Details
Keywords
Meghna Chhabra, Lata Bajpai Singh and Syed Asif Mehdi
Women entrepreneurs contribute significantly to Asian economies. However, women in this region face an alarming array of barriers to entrepreneurship. This research study aims to…
Abstract
Purpose
Women entrepreneurs contribute significantly to Asian economies. However, women in this region face an alarming array of barriers to entrepreneurship. This research study aims to examine the factors, i.e. government support, family social support, financial literacy and managerial skills, in building the entrepreneurial capacity of women entrepreneurs under the lens of the person–environment (P-E) fit theory. Furthermore, the study also examines the moderating effect of socio-cultural barriers in the said relationships.
Design/methodology/approach
For the study, the data was collected from the owners of 311 women-owned manufacturing and services sector enterprises from the northern Indian community.
Findings
Findings suggest that all the factors significantly affect the entrepreneurial capacity of women entrepreneurs, and the barriers work as a moderator between the relationships.
Originality/value
Based on P-E fit theory, this unique research study proposes a model to test the role of factors such as government support, family social support, financial literacy and managerial skills in developing women entrepreneurs’ entrepreneurial capacity along with examining the moderating role of socio-cultural factors contributing to the entrepreneurial capacity of women.
Details
Keywords
Wael Abdallah, Fatima Tfaily and Arrezou Harraf
This study aims to examine the nexus between digital financial literacy and customers’ perceived financial behavior within the Kuwaiti context. Moreover, it will further explore…
Abstract
Purpose
This study aims to examine the nexus between digital financial literacy and customers’ perceived financial behavior within the Kuwaiti context. Moreover, it will further explore how digital financial literacy relates to financial behavior dimensions.
Design/methodology/approach
Data collection was facilitated by creating a questionnaire derived from multiple literature sources. This study used a cross-sectional, time-based dimension. Data was analyzed using the partial least square (PLS) structural equation modeling approach, using the Smart-PLS 4 software for computation.
Findings
Findings demonstrated a significant relationship between digital financial literacy and financial behavior, with a path coefficient of 0.542, a p-value of 0.000 and an R2 value of 0.581. The explorative model revealed substantial relationships between many dimensions of digital financial literacy and various dimensions of financial behavior. More precisely, financial knowledge, awareness and decision-making were the factors that had the most significant impact on financial behavior.
Practical implications
Kuwaiti policymakers should consider including digital financial literacy programs in comprehensive financial education programs to improve public understanding of digital financial instruments and their consequences.
Originality/value
As the authors know, this is the initial endeavor to evaluate the relationship between digital financial literacy, financial behavior and their respective dimensions.
Details
Keywords
T.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.
Details
Keywords
George Okello Candiya Bongomin, Charles Akol Malinga, Alain Manzi Amani and Rebecca Balinda
The main purpose of this study is to test for the interaction effect of digital literacy in the relationship between financial technologies (FinTechs) of biometrics and mobile…
Abstract
Purpose
The main purpose of this study is to test for the interaction effect of digital literacy in the relationship between financial technologies (FinTechs) of biometrics and mobile money and digital financial inclusion among the unbanked poor women, youth and persons with disabilities (PWDs) in rural Uganda.
Design/methodology/approach
Covariance-based structural equation modeling was used to construct the interaction effect using data collected from the unbanked poor women, youth and PWDs located in the four regions in Uganda as prescribed by Hair et al. (2022).
Findings
The findings from this study are threefold: first; the results revealed a positive interaction effect of digital literacy between FinTechs of biometrics and mobile money and digital financial inclusion. Second; the results also confirmed that biometrics identification positively promotes digital financial inclusion. Lastly; the results showed that mobile money positively promotes digital financial inclusion. A combination of FinTechs of biometrics and mobile money together with digital literacy explain 29% variation in digital financial inclusion among the unbanked poor women, youth and PWDs in rural Uganda.
Research limitations/implications
The data for this study were collected mainly from the unbanked poor women, youth and PWDs. Further studies may look at data from other sections of the vulnerable population in under developed financial markets. Additionally, the data for this study were collected only from Uganda as a developing country. Thus, more data may be obtained from other developing countries to draw conclusive and generalized empirical evidence. Besides, the current study used cross sectional design to collect the data. Therefore, future studies may adopt longitudinal research design to investigate the impact of FinTechs on digital financial inclusion in the presence of digital literacy across different time range.
Practical implications
The governments in developing countries like Uganda should support women, youth, PWDs and other equally vulnerable groups, especially in the rural communities to understand and use FinTechs. This can be achieved through digital literacy that can help them to embrace digital financial services and competently navigate and perform digital transactions over digital platforms like mobile money without making errors. Besides, governments in developing countries like Uganda can use this finding to advocate for the design of appropriate digital infrastructures to reach remote areas and ensure “last mile connectivity for digital financial services' users.” The use of off-line solutions can complement the absence or loss of on-line network connectivity for biometrics and mobile money to close the huge digital divide gap in rural areas. This can scale-up access to and use of financial services by the unbanked rural population.
Originality/value
This paper sheds more light on the importance of digital literacy in the ever complex and dynamic global FinTech ecosystem in the presence of rampant cyber risks. To the best of the authors' knowledge, limited studies currently exist that integrate digital literacy as a moderator in the relationship between FinTechs and digital financial inclusion, especially among vulnerable groups in under-developed digital financial markets in developing countries. This is the novelty of the paper with data obtained from the unbanked poor women, youth and PWDs in rural Uganda.
Details
Keywords
George Okello Candiya Bongomin, Pierre Yourougou, Rebecca Balinda and Joseph Baleke Yiga Lubega
Currently, consumers of financial products and services have become more vulnerable to predatory financial institutions, especially in the aftermath of Covid-19 pandemic…
Abstract
Purpose
Currently, consumers of financial products and services have become more vulnerable to predatory financial institutions, especially in the aftermath of Covid-19 pandemic. Therefore, financial consumers like the persons with disabilities (PWDs) should be equipped with knowledge and skills to help them to evaluate complex financial products on offer in financial markets, especially in developing countries to avoid being victims of fraudulent lending. The purpose of this study is to establish whether customized financial literacy mediates the relationship between financial consumer protection and financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic.
Design/methodology/approach
SmartPLS 4.0 was used to construct the measurement and structural equation models to test whether customized financial literacy significantly mediates the relationship between financial consumer protection and financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic.
Findings
The results revealed a partial mediating effect of customized financial literacy in the relationship between financial consumer protection and financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic. Conducting customized financial literacy increases financial consumer protection by 12 percentage points to promote financial inclusion of PWDs’ owned MSMEs in rural Uganda post Covid-19 pandemic.
Research limitations/implications
This study focused only on customized financial literacy and financial consumer protection to promote universal financial inclusion of PWDs’ owned MSMEs post Covid-19 pandemic. Future studies may use data collected from other vulnerable groups amongst the unbanked population in developing countries, Uganda inclusive. In addition, this study also collected only quantitative data from the selected population. Further studies can be conducted using key informant interviews and focused group discussion to get the perceptions of the PWDs on being protected from exploitation by unscrupulous financial institutions.
Practical implications
The findings from this study can help policymakers in developing countries like Uganda to revise the existing consumer protection law to include strong clauses on protection of people with special needs like the PWDs. The law must ensure that they are not exploited by financial institutions because of their conditions. The law ought to make sure that the PWDs are educated about their rights in the financial market place and all information on financial products offered by financial institutions should be simplified and interpreted to them before they make consumption decisions.
Originality/value
To the best of the authors’ knowledge, the present study is amongst the first few studies to provide a meticulous and unique discourse on the ever increasing role of financial literacy combined with consumer protection to reduce consumption risks within the financial markets, especially in developing countries in the aftermath of global pandemic shocks. This study uses the social learning theory, theory of reasoned action and theory of planned behaviour to elucidate how customized financial literacy can enhance consumer protection to increase financial inclusion of groups with special needs like the PWDs who have become more susceptible to exploitation by unscrupulous financial institutions in under-developed financial markets, especially in post Covid-19 pandemic.
Details
Keywords
Ismah Osman, Sharifah Faigah Syed Alwi, Mohsin Abdur Rehman, Ruhaini Muda, Faridah Hassan, Rohail Hassan and Hasni Abdullah
This study aims to empirically investigate the pathway to financial management behavioural intentions (FMBI) from Islamic perspectives, through dimensions of Islamic financial…
Abstract
Purpose
This study aims to empirically investigate the pathway to financial management behavioural intentions (FMBI) from Islamic perspectives, through dimensions of Islamic financial literacy (IFL; Islamic financial knowledge [IFK], financial skills [FS] and self-efficacy [SE]) based on an extension to the theory of planned behaviour (TPB) model.
Design/methodology/approach
Data was collected via a self-administered questionnaire by 300 millennials (Muslims) working in Malaysia. Structural equation modelling was used for data analysis purposes by using SmartPLS.
Findings
The results present the positive and significant influence of IFK on financial attitude (FA), FS on the elements of FA, subjective norm (SN), perceived behavioural control (PBC) and perceived moral obligation (PMO), SE on FA, FS on the elements of FA, SN and PBC. Furthermore, PBC and PMO were strong predictors of FMBI from an Islamic standpoint.
Originality/value
The findings successfully contribute to the theoretical extension of the TPB model via dimensions of IFL (IFK, FS and SE) as predictors of FA, SNs, PBC and PMO. Besides, this study provides some new insights of millennial Muslims concerning IFL and financial management from Islamic beliefs.
Details