Financial literacy is essential for every individual concerned with public welfare and household portfolio choices. In this study, we investigate the impact of household financial literacy on individuals’ financial behavior using the China Household Financial Survey Data of 2015 and 2017. The results show that financial knowledge has significant current, long-term, and dynamic effects on financial behavior. This finding suggests that financial literacy is an important factor in shaping and improving (...) financial behavior. Second, financial literacy can improve residents’ limited attention, and residents with high attention tend to have formal bank accounts, participate in the stock market, and engage in financial behaviors in situations such as risky financial markets. High attention also helps to improve residents’ financial behavior. This relationship suggests that financial literacy positively impacts formal bank account holding, participation in financial markets, participation in commercial insurance, participation in pension plans, and credit card holdings through limited attention channels that facilitate access to specific financial information. In addition, heterogeneity analysis showed that the impact of financial literacy on financial behavior differs significantly between urban and rural households, between men and women, and between high and low education levels. The study provides valuable insights for policy implications to enhance financial literacy, such as carrying out financial training to improve residents’ knowledge about financial aspects, which further helps to optimize household financial decision-making. (shrink)

Through the guidelines of D.O No. 22, s. 2021, the study finds that the majority of 304 teachers from both public elementary and secondary schools are married females between the ages of 30 and 40 with 1 to 4 years of work experience and 15,000 to 30,000 monthly income. Findings exposed the “high level of comprehension perceived” in financial knowledge, behavior, and attitude. Also, the perception of asset acquisitions as the highest priority, along with other relevant factors from budgeting (...) and decision-making and retirement preparedness, demonstrated “importance” in the level of their comprehension. The significant difference through test variation in teachers' retirement preparedness and asset acquisitions towards the age variable is significant. Thus, teachers' retirement preparedness based on their perceptions of budgeting has a strong impact on their teaching experience. Accordingly, financial literacy and retirement preparedness have an essential or direct relationship. This indicates a strong impact of financial preparedness on financial literacy. (shrink)

Financial literacy has gained much attention amongst scholars, policymakers and other stakeholders due to its role in backing up investment decisions, improving personal financial management and increasing financial wellbeing. This study examines the influence of financial literacy on investment decisions with the moderating effect of the overconfidence behavioural bias. Data were collected from 180 respondents in Saudi Arabia using a questionnaire, and a convenience sampling technique was applied. The study’s findings were analysed using the (...) partial least squares structural equation modelling technique. It was found that financial literacy positively and significantly influenced investment decisions. Moreover, the results show that overconfidence positively affected investment decisions and that the relationship between financial literacy and investment decisions was positively and significantly moderated by overconfidence. (shrink)

The level of financial literacy of rural residents will affect their financial decisions and the financial well-being behind the decisions. This paper uses mediating effect and moderating effect to test the influence path of rural residents’ subjective and objective financial literacy on their financial decision-making with survey data from Henan and Anhui provinces in China. The results show that subjective and objective financial literacy have positive effects on financial market participation. (...) Subjective and objective financial literacy have negative direct effects on insurance market participation. Subjective financial literacy plays an incomplete mediating effect in the impact of objective financial literacy on financial market and insurance market participation. Objective financial literacy is adjusted by subjective financial literacy on financial market participation and insurance market participation. At the same time, we introduce financial technology penetration as a threshold variable in the model and find that the financial literacy has stronger impact on financial decision-making if the financial technology penetration is above the threshold. (shrink)

This study explored the impact of financial literacy on potential entrepreneurs' intent in Saudi Arabia. It also examined saving behavior as a mediator in the relationship between financial literacy and entrepreneurial intention. The study's data were collected by an online questionnaire sent to a sample of 270 potential entrepreneurs at Abqaiq Applied College, affiliated with King Faisal University. Data analysis was done using partial least squares structural equation modeling. According to the findings, there is no direct (...) relationship between financial literacy and entrepreneurial intent. However, it has been reported that saving behavior can mediate between financial literacy and entrepreneurial intent. (shrink)

This article uses data from the 2020 TIAA Institute-GFLEC Personal Finance Index to show that many American families were financially fragile well before the COVID-19 pandemic hit the U.S. economy. Financial fragility is particularly severe among specific demographic groups, such as African-Americans and those with low income. The article also shows that financial fragility is strongly linked to financial literacy and that many Americans are ill-equipped to deal with the financial decisions needed to navigate through (...) a financial crisis. Suggestions are provided to deal with personal finance decisions in times of emergency. (shrink)

To have enough financial literacy, an investor must be able to make intelligent investment choices, and on the other hand, the heuristic bias, the framing effect, cognitive illusions, and herd mentality are all variables that contribute to the formation of behavioral biases, also known as illogical conduct, in the decision-making process. The current research looks specifically at behavioral biases and financial literacy influence investment choices, particularly on stock market investment. For the research, a representative sample of (...) 450 individual investors was evaluated. A structured questionnaire was designed using the Likert’s scale method to elicit the research variables, and the data acquired were analyzed using the SEM method. According to the findings, there was a statistically significant link between heuristic bias and the development of behavioral bias in decision-making. Nevertheless, cognitive illusions, the herd mentality, and the framing effect all have a deleterious impact on behavioral biases. In addition, investors often adhere to heuristic biases rather than other irrational strategies when making investment judgments. Therefore, individual investors’ financial literacy level greatly influences the choices made about investments in the stock market. (shrink)

Establishing Financial Literacy (FL) programs for K-12 students is an emerging concern for policymakers worldwide. Such programs esteem the market a preferred arena for economic decision-making than the civic arena. In parallel, media organizations in many capitalist economies are devoting increasing resources to popular coverage of finance, which could be regarded as an informal form of FL. We build on the distinction between episodic and thematic framing to consider two divergent approaches to FL in Israel: one developed by (...) a non-profit for use in public education and the other developed by a commercial news organization for broader dissemination. We found that the commercial news organization blended episodic and thematic framing to contextualize financial products and institutions temporally and spatially, uncovering the political processes that shape the economic landscape. This paper argues that such a civic and critical approach to financial literacy hails students as citizens with the capacity to reform and re-imagine finance, rather than act solely as passive consumers. (shrink)

We provide an empirical investigation of leadership characteristics and social justice issues in the context of financial literacy service-learning. Using a unique dataset of student self-ratings, we find that students experience statistically significant increases in 8 of the 10 leadership dimensions and 7 of the 7 social justice issues examined in this study. Leadership dimensions include: persuasion, building community, “commitment to the growth of people,” stewardship, empathy, awareness, foresight, and listening. Interest in social justice issues include: dignity of (...) the human person, community and the common good, rights and responsibilities, option for the poor, dignity of work, solidarity, and care for God’s creation. The statistically significant increases in these dimensions following the completion of the service-learning suggest positive effects on students’ self-perception of leadership qualities and interests in social justice issues: business school students sense improvement in nurturing growth of employees and colleagues, commitment to serving the need of others, understanding and empathizing with others, ethics, ability to foresee the likely outcome of a situation, and listening intently to others. As a consequence of the financial literacy service-learning, we believe that business students become more prepared toward becoming ethical leaders and citizens with compassion to serve the world for the well-being of all people, rich and poor alike. (shrink)

Till now, comprehensive and quantitatively meaningful analyses of stock market participation outcomes of retail investors have been limited by data sources in developing countries. This article devised a special questionnaire related to stock investment to measure the financial literacy and stock investment return for the subjects with stockownership in China and to theoretically and empirically study the effects of objective FL, self-assessed FL, and their composite FL on SIR. The results of the comparative analysis showed that self-assessed FL (...) has a greater effect on SIR than objective FL, and the effect is mediated by risk preference. In addition, we found that competent and overconfident respondents have higher SIR, while under confident respondents cannot gain from the stock market. We also found that risk preference has a positive mediating effect in the relationship between competence and overconfidence and SIR, and a negative mediating effect in the relationship between under confidence and SIR. We thus concluded that confident investors can gain more stockholding returns via taking more risks regardless of the level of their actual financial knowledge. Our findings would be a meaningful complement to the studies of stock market participation. (shrink)

The motivation of the study is to gauge the effects of access to finance, technical know-how, and financial literacy on women’s empowerment through establishing women’s entrepreneurial development. A sample of 950 women-owned SMEs was considered, and structured questionnaires were sent from getting target responses. After careful assessment through the data cleansing procedure, it was found that only 795 responses are suitable for further investigation, implying the sample response rate for the study is 74.71%. The study implemented structural equation (...) modeling and multivariate regression analysis for gauging the causal association that is direct and indirect effects of target variables. According to findings, a positive statistically significant linkage was revealed with women’s entrepreneurship sustainability and women empowerment. Furthermore, the mediating effects were also established for women’s empowerment. According to the study findings, it is suggested that for women entrepreneurship sustainability, effective policies surrounding financing accessibility, technical knowledge expansion, and financial understating have to be promulgated in the economy, which allows bringing women empowerment at large. (shrink)

A person’s financial well-being is the complete contentment gained from one’s present financial condition. This has a powerful impact on the entire achievement of an employee’s “well-being.” Researchers, financial analysts, financial planners, educationists, and economists have explored the “enablers” to improve employees’ living standards by investigating the possible “FWB” resources for decades. There is no literature available to show the connection between social capital theory, social exchange theory, social cognitive theory, financial literacy and FWB, (...) and employees’ financial knowledge sharing a moderator to expand the complete FWB. (shrink)

Cryptocurrency could redefine the interplay of Internet-connected world markets by eliminating constraints set by traditional local currencies and exchange rates. It has the potential to revolutionise digital markets through the use of duty-free trading. This study investigates the factors which influence the behavioural intention to use cryptocurrency based on the Technology Acceptance Model 3 (TAM 3) during the COVID-19 (SARS-COV-2) pandemic. Data were collected through a cross-sectional questionnaire from 357 Pakistani business-educated adults, including investors who had a rudimentary understanding of (...) the technology and financial instruments. Partial least square (PLS)-based structural equation modeling (SEM) was used to test the developed theoretical framework based on the Technology acceptance model 3. The PLS model has explained 72.1% of what constitutes the behavioural intention to use cryptocurrency. Surprisingly, risk was not a major consideration. This might be due to the fact that the majority of respondents thought working with cryptocurrency was hazardous. Willingness to handle cryptocurrency risk, on the other hand, might be a stumbling block to acceptance. The most essential aspect of a cryptocurrency's success was the perceived usefulness. Moreover, the moderating role of experience was not substantiated in this study. However, perceived usefulness was identified as a partial mediator of subjective norm and the perceived ease to use. This study contributed to the literature through the application of TAM 3 (an extension of the technology acceptance models) to investigate the fundamental qualities a cryptocurrency should have in order to influence investor's behavioural intention to use it. These findings provide revolutionary insights for the present and future market players for investment planning and for improved cryptocurrencies development. (shrink)

The adoption of mobile payment (m-payment) and mobile banking (m-banking) is low in several countries, despite its associated benefits. The present study examines the impact of Pakistani consumers’ financial skills and digital literacy on their intention to adopt m-payment/m-banking using the Technology Acceptance Model (TAM). The data were collected from 454 individual smartphone users residing in Punjab province via an online and offline questionnaire survey. Structural equation modeling was used to analyze the consumers’ data. The results endorse that (...) (1) their financial skills have no association with intention to adopt but through perceived usefulness; (2) their digital literacy bridges a strong association with intention and through perceived ease of use. Furthermore, this study discusses the theoretical and practical implications of the findings, as well as limitations and future directions. (shrink)

Microfinance is the vanguard of financialization today. This is especially true in Colombia, where microfinance rivals any other type of formal credit. Entangled with Colombia’s micro-financialization is the phenomenon of microfinance corporations in joint ventures with Christian organizations that broker their microfinance programs. These faith-based corporations temper the surge in microfinance with ascetic discipline and the infusion of an entrepreneurial spirit. Economic discipline, say the microfinanciers, is required for what is referred to as ‘financial literacy’ and ‘financial (...) inclusion’ programs that instil a distinctly Christian corporate order. This article, based on 2 years of sustained fieldwork in Colombia, focuses on one such microfinance program run by a transnational Christian credit organization. With microfinance, souls are disciplined through debts and ideals of an ascetic prosperity. In the end, the article concludes that there is a Christian morality to financialized capitalism that is exercised at the level of the interior soul. (shrink)

Previous research has shown that the UK has low levels of financial literacy by international standards, particularly among those in lower socio-economic groups. This may have an impact upon young people, with social inequalities in financial attitudes, behaviours and skills perpetuating across generations. Using parent-child linked survey data from 3,745 UK families, we find sizeable socio-economic inequalities in young people’s financial capabilities, aspects of their mindset, and their financial behaviours. Sizeable differences are also observed in (...) the financial education that socio-economically advantaged and disadvantaged children receive at school, and how they interact with their parents about money. Parental interactions can account for part of the socio-economic gap in money confidence, money management, financial connections, and financial behaviours, but less so in boosting financial abilities. However, we find no evidence of differences in financial education in schools driving differences in young people’s financial capabilities. (shrink)

Financial gerontology can be defined as investigating relations between finances and aging. Authors such as Neal E. Cutler, Kouhei Komamura, Davis W. Gregg, Shinya Kajitani, Kei Sakata, and Colin McKenzie affirm that financial literacy is an effect of aging with concern about the issue of finances, as well as stating that it is the effect of longevity and aging on economies or the financial resilience of older people.

Borrowing behavior may be more resistant to formal educational treatments than other financial behaviors. In order to study the process and results of infographics-based debt education, we used eye tracking technology (SMI RED 500 Hz) to monitor the oculomotor behavior of 108 participants (68 females) aged 18 to 60 who were shown 4 infographics. The study used an experimental design with repeated measures and an internal comparison group. We also used scales of debt literacy and a set of (...) information literacy scales: numerical, graph, and linguistic. The results confirm that short-term infographics-based debt education can improve debt literacy significantly. The difference in processing the educational contents that were not known to participants before the educational session suggests that participants with better information literacy make more considerable debt literacy progress. Specifically, we found that numerical literacy is a significant mediator of debt education results, depending on the initial level of debt literacy; this relation is moderated by the focus of visual attention on negatives of debt. We found no significant relationship between debt literacy education results and those of graph and linguistic literacy. (shrink)

Saving money benefits individuals and the economy. This research examines the factors affecting Malaysian military personnel's saving habits. The study focuses on the impact of financial literacy, financial inclusions, financial stress, peer influence, military culture, and self-discipline on saving habits. The positivist study design was based on a survey questionnaire of 1000 Malaysian Armed Forces military personnel. Data from the pilot and main survey were analysed using SPSS 29.0 and SmartPLS4, respectively. The study randomly selected respondents (...) from a population of approximately 120,000 actively serving military personnel. The respondents include officers and other ranks deployed at various military bases and camps in Malaysia. Except for self-control, financial stress, and financial inclusions, the remaining three variables have strong connections with the savings habit. The findings support life cycle and planned behaviour theories. This study sheds light on military personnel and the necessity of savings strategies for financial readiness. (shrink)

Based on a 12-year bibliographic record collected from the Web of Science database, the present study aims to provide a macroscopic overview of the knowledge domain in financial decision making. A scientometric and bibliometric analysis was conducted on the literature published in the field from 2010 to 2021, using the CiteSpace software. The analysis focuses on the co-occurring categories, the geographic distributions, the vital references, the distribution of topics, as well as the research fronts and emerging trends of (...) class='Hi'>financial related decision making. The steady increase of papers published year by year demonstrated the increasing interest on this topic at the international level. The scientometric analysis of the literature showed that financial decision, investment decision, and financing decision stood out of the crowd of the research on FDM, suggesting their important role in FDM and its research. The results of citation burst analysis predicted the focus of topics, i.e., the impact of individual differences such as financial literacy, gender and age on FDM in the coming years. Different from the traditional approach of literature review, this bibliometric analysis offers a scientometric approach to reveal the status quo and the development trend of FDM by macro and quantitative means. In addition, future research directions for the field are recommended. (shrink)

The study aimed to investigate the impact of behavioral biases on herding for Islamic financial products with the mediation of shariah literacy. An adopted questionnaire from several published studies was used to collect data. The data were collected from 410 respondents and were analyzed with SmartPLS. The results for the direct impact showed that self-attribution, illusion of control, and information availability have a positive and significant impact on herding for Islamic financial products while shariah literacy showed (...) an insignificant impact on herding. The results for mediation showed that previously significant and positive impact turned to insignificant when shariah literacy was introduced as mediating variable between the illusion of control, self-attribution, information availability, and herding. From a theoretical perspective, this study would contribute to the existing body of knowledge of financial decision making from shariah literacy point-out. On the other hand, the findings of this study may be useful for investors to avoid herding in the Islamic financial markets. The authors synthesize the contribution made by behavioral finance studies in extending the knowledge of herding behavior in Islamic financial products with a mediating role of shariah literacy. The key limitation of the study includes data that were collected from three districts of Punjab, Pakistan. (shrink)

Primary healthcare plays a fundamental role in advancing public health, and the evaluation of its effectiveness is crucial part for ongoing enhancement and evolution. The escalating prevalence of non-communicable diseases is placing significant burden on the healthcare resources of both developed and developing countries. The aim of this study is to evaluate the financial efficiency and quality of care provided through telemedicine in virtual clinics compared to traditional clinical visits for chronic patients attending Primary Healthcare Centers (PHCs) in Makkah, (...) Saudi Arabia. This research is using an analytical cross-sectional study design, and it included all adults registered in the HIS for 2023 with DM or HTN. The researcher compared in-person and virtual visit costs and some of the health outcomes. The study included 106,828 participants, with 392,441 visits to Primary Health Centers. The distribution was 52.12% male and 47.88% female, with 53.89% having DM and 46.11% HTN. Education level significantly influences visit preferences (p = 0.003), with higher educated participans evenly splitting between in-person and virtual visits, while those with no literacy favored in-person visits. Significant cost differences were observed between in-person and virtual visits (p <.001), with in-person visits incurring higher lab test counts and costs. In conclusion, our findings show that virtual visits and telehealth services have lower costs compared to the in-person consultations, with almost identical health outcomes for both groups. Which indicates that the virtual and in-person consultations have comparable quality. (shrink)

Few recent developments in information technology have been as hyped as blockchain, the first implementation of which was the cryptocurrency Bitcoin. Such hype furnishes ample reason to be skeptical about the promise of blockchain implementations, but I contend that there’s something to the hype. In particular, I think that certain blockchain implementations, in the right material, social, and political conditions, constitute excellent bases for common knowledge. As a case study, I focus on trust in election outcomes, where the ledger records (...) not financial transactions but vote tallies. I argue that blockchain implementations could foster warranted trust in vote tallies and thereby trust in the democratic process. Finally, I argue that if the promise of blockchain implementations as democratic infrastructure is to be realized, then democracies first need to ensure that these material, social, and political conditions obtain. (shrink)

Individual differences in mental accounting have rarely been studied, and empirical evidence regarding the relation between mental accounting and personality characteristics is scarce. The present paper reports three studies applying a Likert-type scale to assess the extent individuals engage in mental accounting practices. In each study, the five items of the measure loaded on a single dimension and had acceptable reliability, with a Cronbach’s α between.72 and.77. Study 1 (N = 165) regards the mental processing of prior losses in the (...) theater-ticket problem (Tversky and Kahneman 1981). Study 2 (N = 114) is based on prior work on income source effects (Fogel 1997) and analyzes mental accounting of prior gains. In both studies, individual differences in mental accounting moderated the effects of the experimental treatments. In an explorative survey conducted for Study 3 (N = 373), the extent of engaging in mental accounting was found to be positively correlated with being female, with conscientiousness, and financial literacy, and negatively related with education and non-planning impulsivity. Identification of individual differences and their correlates adds to existing evidence for some of the core assumptions of mental accounting theory. A practical implication of the findings is that providers of financial services must take individual differences into account when designing trainings and supportive tools for money management. (shrink)

In a context where individuals are increasingly more sensitive to corporate social responsibility (CSR) practices and where mobilization of savings for the energy transition is essential, our article is the first to study the drivers of online green bank adoption. By analyzing 1075 questionnaires from a panel of French individuals in charge of financial decisions in their households, we show that altruism and green consumption values are significant drivers of individuals' green banking adoption and reveal that willingness to adopt (...) a green bank is mediated by the preference for green savings. These results extend the nascent literature dealing with the link between responsible consumption and saving behaviors. Briefly speaking, green banks (and associated savings products) have the potential to enable households to express their consumption values through their investments. That said, our results suggest that households' financial well-being and financial literacy can be barriers to the mobilization of green savings. Our results also demonstrate the significant influence of information system variables, such as personal innovativeness and trust, on willingness to adopt green banking. By shedding light on the drivers of individuals' green bank adoption, our results provide valuable insights for the banking industry. (shrink)

A student considering a career as a financial advisor is confronted by a common industry practice that some consider misleading and unethical. The case fosters financial literacy by allowing students to connect theory to practice through the analysis of a highly realistic brokerage statement using Microsoft Excel. It permits an instructor to seamlessly inject an ethical component into an accounting or finance course while simultaneously sharpening students' understanding of key financial concepts such as bond valuation and (...) yield to maturity. (shrink)

Understanding how learners regulate their emotions and engage in metacognitive strategies is crucial for fostering self-regulated learning, particularly in technology-mediated learning. This study examines the temporal relationships between two emotion regulation (ER) strategies, reappraisal and suppression, frustration, and use of progress monitoring as metacognitive strategy, within the context of an educational game on financial literacy. The study involved 82 undergraduate students whose levels of frustration, progress monitoring behaviour, ER strategies were assessed at various points during the learning task. (...) Findings revealed that the use of both reappraisal and suppression decreased during the learning task. Additionally, both ER strategies were negatively associated with frustration, although the relationship between reappraisal and frustration diminished over time. Frustration was negatively related to progress monitoring, indicating that effective emotion regulation can help maintain engagement in metacognitive strategies by keeping cognitive resources available. Notably, suppression and progress monitoring showed a positive relation that increased over time, highlighting the potential usefulness of suppression in extended learning tasks, despite its generally lower effectiveness compared to reappraisal. The results highlight the importance of considering temporal dynamics in the application of ER strategies during extended learning. Practical implications for the design of technology-mediated learning environments and educational interventions are proposed. (shrink)

The church is called to be a tangible messenger of hope in society. Communities of poverty, especially, need a church that carries its mandate both through proclamation and through deed. This research is a case study of a team located in South Africa that is part of an international missional order called InnerCHANGE. The latter focuses on discipleship and the nurturing of local leaders who are community builders in areas of poverty. This focus is expressed through practical ministry initiatives. The (...) latter necessitates finances through the team does not always have. A desire to overcome its financial challenges led it to decide to get some training in financial literacy, so that it can improve its fundraising efforts. This training was provided by a finance broker. The latter started his teaching with personal finances before going into organisational finances. He believed that good personal financial stewardship leads to good corporate financial stewardship. The outcome of this training led ICSA staff and the board of directors to diversify their fundraising efforts and to set the target of saving 15% of its income. The work is still in progress for reaching this target. However, for 2 years in a row, ICSA has been making some good progress in increasing its income and savings. This article concludes by advising the body of Christ serving from below to pursue training in financial management so that it can strengthen its checks and balance system which could lead to sustainability.Contribution: This article contributes to the on-going discussions about financially sustainable models of the church from below in Africa so that the church can remain an important role player in serving local communities practically. It uses InnerCHANGE South Africa as a case study of such efforts. (shrink)

In general, few people have comprehensively researched the cost of machine ownership. This research will present a new model to calculate the cost of machine ownership that is influenced by several critical factors such as Initial Cost, Maintenance Cost, and Operating Cost. The financial literacy gap in this sector causes many heavy equipment owners to be unaware of their business income potential. The methodology used is mathematical modeling that combines several methods to create a new model of heavy (...) equipment ownership cost analysis. The main result of this research shows that the developed model provides a new perspective in calculating the cost of ownership. The model shows that the machine has the most optimal value if the cost is paid in installments. In addition, the model considers external factors such as changes in primary energy prices and fluctuations in backup power generation costs, thus providing a more accurate picture of costs. The implications of this research are that it makes it easier for machine owners to calculate ownership costs, improve operational efficiency, and support better investment decisions. (shrink)

Social impact investing is transforming the availability of private capital for nonprofits and social enterprises, but demand is not yet meeting supply. This paper analyzes the perceived barriers faced by nonprofits in engaging with SII, arguing the need to assess differences using a policy field framework. Four parameters of a subsector are conceptualized as shaping participation in SII: the scale of investment required, embeddedness in place, the need for radical innovation, and the configuration of intermediaries. Based on 25 interviews with (...) leaders of nonprofits and intermediaries in affordable housing and community economic development in Canada, the study finds that significant barriers are a lack of knowledge of the market, inadequate financial literacy, and the challenges of measuring and valuing social impacts. In addition, nonprofits report that, in spite of the inherent importance of social impact in this form of investing, they currently make limited use of evaluation and impact metrics, and perceive that intermediaries and investors, particularly in affordable housing, still put a greater emphasis on financial over social returns. (shrink)

This study investigates the development of service-learning models for business school students in Azerbaijan. Drawing on the United Nations Sustainable Development Goals, this study identifies field projects and financial literacy immersions that benefit society while also promoting partnerships between Azerbaijan’s business schools, Central Bank, and international non-profit organizations. Based on the conceptual framework of Brower (Academy of Management Learning & Education 10:58-76, 2011) and theoretical underpinnings of Kolb (2015), this article develops two service-learning models for business schools in (...) Azerbaijan and presents new corollaries between issues of sustainable community development, service-learning, and experiential learning theory. In one service-learning model, business school students complete a service-oriented consulting project based on real-world assignments from the United Nations Food and Agriculture Organization. In a separate service-learning model, business school students partner with the Central Bank of Azerbaijan and Junior Achievement in exerting servant leadership by serving as mentors for Azerbaijan’s schoolchildren in the area of financial literacy. The service-learning models in this study are distinctive and innovative in the context of Azerbaijan, both in terms of management education development and the potential to infuse and teach the United Nations Sustainable Development Goals into the business curricula. (shrink)

Capacity-building projects are crucial for developing the skills of indigenous communities, fostering sustainable business growth, and empowering individuals. However, women in the Higaonon community had limited access to modern technologies and business management training. To address this gap, a project was implemented by the Non-Timber Forest Products- Exchange Programme (NTFP-EP), in collaboration with the Food Technology Department of Bukidnon State University. After several years of implementation, the project’s impact on the community remained uncertain. To evaluate this impact, a convergent mixed-methods (...) research study was conducted to assess the project’s impact on the socioeconomic well-being of Higaonon women and the effectiveness of the trainings in enhancing their financial management and technology operation and maintenance skills. The study was grounded in the theory of change framework. Participants were members of a Higaonon women-led social enterprise. Descriptive analysis revealed that the trainings were highly effective in addressing the women’s capacity- building needs. Thematic analysis yielded four relevant themes: empowerment and improved livelihoods, capacity building and skill development, challenges and opportunities, and community development and sustainability. A joint display analysis further confirmed that the trainings’ effectiveness aligned with the capacity building and skill development theme. These enhanced skills empowered women, improved their livelihoods, and opened new opportunities to overcome challenges. The improved financial literacy, technical skills, and business management capabilities have the potential to contribute to the long-term sustainability and prosperity of the community. Future research could explore the scalability of this social impact to inform policy and practice in community-based enterprise development. (shrink)

Introduction / Jeffrey R. Di Leo, Peter Hitchcock, and Sophia A. McClennen -- Theory and history -- The rights to debt? / Sophia A. McClennen -- Kant at the Federal Reserve : on the aesthetics of quantitative easing / Peter Hitchcock -- Materialism : debt and sensuality / Christopher Breu -- The indebted man's cognitive mapping : boundaries and biohorror in the neoliberal debt economy / Liane Tanguay -- Living in the debt age -- The debt experience / Jeffrey J. (...) Williams -- Paying your debt to society : the neoliberal state and the logic of quid pro quo / Esther Peeren -- Indebted youth and neoliberalism / Tyler J. Pollard -- Austerity politics and the neoliberal target austerity politics and the neoliberal targeting of the body in public education / Kenneth J. Saltman -- Resisting the debt age -- On debt resistance / Jeffrey R. Di Leo -- Debt and financial literacy education : an ethics for capital or the other / Chris Arthur -- Student debt and the social functions of consolidation college / Christopher Newfield -- Confronting the creditor class / Andrew Ross -- Index. (shrink)

O fenómeno FinTech revolucionou o modo de prestar serviços financeiros e transformou a relação entre o prestador destes serviços e o consumidor, sendo as plataformas digitais e aplicações o meio através do qual o consumidor passou a relacionar-se com o seu prestador de serviços financeiros. O sector bancário precisa adaptar-se de forma célere e urgente à nova realidade. O perfil do consumidor de serviços financeiros alterou-se e quanto mais digital e tecnológico se tornarem os prestadores de serviços financeiros, surgem novas (...) desigualdades sociais. Propomo-nos analisar que desigualdades se geraram e quais os atuais impactos sociais. (shrink)

The strength of democracy lies in its ability to self-correct, to solve problems and adapt to new challenges. However, increased volatility, resulting from multiple crises on multiple fronts – humanitarian, financial, and environmental – is testing this ability. By offering a new framework for democratic education, Teaching Democracy in an Age of Uncertainty begins a dialogue with education professionals towards the reconstruction of education and by extension our social, cultural and political institutions. -/- This book is the first monograph (...) on philosophy with children to focus on democratic education. The book examines the ways in which education can either perpetuate or disrupt harmful social and political practices and narratives at the classroom level. It is a rethinking of civics and citizenship education as place-responsive learning aimed at understanding and improving human-environment relations to not only face an uncertain world, but also to face the inevitable challenges of democratic disagreement beyond merely promoting pluralism, tolerance and agreement. -/- When viewed as a way of life democracy becomes both a goal and a teaching method for developing civic literacy to enable students to articulate and apprehend more than just the predominant political narrative, but to reshape it. This book will be of interest to scholars of philosophy, political science, education, democratic theory, civics and citizenship studies, and peace education research. (shrink)

In this article, we explore the world's response to the increasing impact of carbon emissions on the sobering threat posed by global warming: the carbon offset market. Though the market is a relatively new one, numerous offset providers have quickly emerged under both regulated and voluntary regimes. Owing to the lack of technical literacy of some stakeholders who participate in the market, no common quality or certification structure has yet emerged for providers. To the contrary, the media warns that (...) a relative "cowboy" atmosphere prevails in the current environment, and that there are "widespread instances of people and organizations buying worthless credits that do not yield any reductions in carbon emissions" (Harvey and Fidler, Financial Times, 2007). At this point in the evolution of the market, only a handful of offset provider-rating schemes exist; and, even these systems leave consumers with few answers when they seek to find a means by which to ensure that the said systems are having their intended impact. The purpose of this article is, first, to provide a grounded understanding of the nature of the offset market, a tendency toward carbon neutrality as a possible point of equilibrium, and the ethical tensions that surround it from the perspective of the consuming public. Second, we outline the standards environment for offset providers to illustrate most effectively the need for a single set of criteria among providers that is readily understandable by the common consumer stakeholder. We then explore the differences among the providers and articulate the specific criteria upon which providers may be evaluated by this particular stakeholder constituency, by bringing together best practices based on currently available analyses. Finally, we share the results of preliminary data collection in connection with 117 offset providers and highlight early findings. These findings allow us comparing providers effectively and efficiently on a common scale that services both providers, who thereby have greater guidance for self-assessment purposes, as well as consumer stakeholders, who then have the ability to make useful and more informed choices about carbon emission reduction in the future. (shrink)

ABSTRACT The aim of this study is to determine how stakeholder engagement can be adapted for the conduct of COVID‐19‐related clinical trials in sub‐Saharan Africa. Nine essential stakeholder engagement practices were reviewed: formative research; stakeholder engagement plan; communications and issues management plan; protocol development; informed consent process; standard of prevention for vaccine research and standard of care for treatment research; policies on trial‐related physical, psychological, financial, and/or social harms; trial accrual, follow‐up, exit trial closure and results dissemination; and post‐trial (...) access to trial products or procedures. The norms, values, and practices of collectivist societies in Sub‐Saharan Africa and the low research literacy pose challenges to the conduct of clinical trials. Civil‐society organizations, members of community advisory boards and ethics committees, young persons, COVID‐19 survivors, researchers, government, and the private sector are assets for the implementation and translation of COVID‐19 related clinical trials. Adapting ethics guidelines to the socio‐cultural context of the region can facilitate achieving the aim of stakeholder engagement. (shrink)

The Demise of California's “Master Plan for Higher Education”After buying a home, a university education is the largest financial investment that most Americans ever make. Universities provide the learning environment to produce an informed electorate, support basic research and train professionals. A college education prepares a skilled workforce but, above all, the main purpose of higher education is to create and transmit knowledge, promote critical thinking and literacy, and prepare students to be enlightened, active citizens. California taxpayers generally (...) considered public higher education one of the best investments they could make in the future of their state. Since 1960…. (shrink)

An analysis of the specific yogurt and phone microcredit schemes in Bangladesh is made along three lines of argument. It is important to note that these schemes are pulled together by NGO’s (non-governmental organizations) to assist women and children in developing areas to attain financial independence—the first line employs leftist criticism of the corporate constructs, and an additional line of inquiry compares some of the programs to those in other nations. A final line of argument analyzes the specific cultural (...) views of Bengali Islam and the long tradition of Bengali literacy. It is concluded that, despite areas of difficulty, the programs are in general beneficial. (shrink)

Thomas Sankara was 33 years old when he seized power in a bloodless coup. During the four years of his governance, he organized adult literacy campaigns and mass vaccination of children, promoted women's rights and fought corruption as well as desertification caused by inappropriate agricultural practices introduced during the colonial period. Within two years, child mortality and illiteracy dropped significantly and vaccination coverage increased. Beyond these quantitative results, Sankara firmly believed that the decolonization of his country started from the (...) formation of the conscience of citizens, from learning to “rely on themselves” – materially and psychologically – and from the abandonment of a logic of technological and financial dependence that generated hunger and debt. To achieve his goals, he launched campaigns to “consume Burkinabè,” to plant trees and preserve rainwater in areas affected by desertification. (shrink)

To achieve environmental sustainability, the role of human capital and financial inclusion has been debated in limited empirical studies. Employing a reliable ARDL model approach, this study examines the dynamic link between human capital and ICT, financial inclusion, and CO2 emissions using the China economy dataset over the period 1998–2020. The vivacious side of human capital shows that literacy rate and average year of schooling curb CO2 emissions in long run. The results of human capital are also (...) based on facts in magnitude as well as in direction. Also, empirics unfold that digital financial inclusion significantly increases CO2 emissions. Based on these novel findings, a wide set of economic policies are repaired for environmental quality. Environmental education should be considered at early levels of education. The authorities and policymakers should fix energy-related issues through education. The China government should stimulate the educational sector to conduct a clean and green revolution that acts as a mechanism for a green and clean economy. This study's finding is more effective than the previous unlike empirical studies for policy-making because of the advanced econometric method. (shrink)

With the intensifying shortage of care-providers and mounting financial burden of an aging population in Japan, artificial intelligence (AI) offers a potential solution through AI-driven robots, chatbots, smartphone apps, and other AI medical services. Yet Japanese acceptance of medical AI, especially patient care, largely depends on the degree of ‘humanness’ that can be integrated into intelligent technologies. As empathy is considered a core value in the practice of healthcare workers, artificially intelligent agents must have the ability to perceive human (...) emotions and respond in an affective, human-like manner. This paper presents the results of a nationwide survey in Japan 2023 about the public perception of the use of emotionalized AI (EAI) in healthcare. The sample included 2000 Japanese citizens from 20 to 69 years old with an average age of 45 years. The questionnaire included 65 items in six categories: demographic, perception of the existing healthcare system, attitude towards the use of AI, and EAI in healthcare, trust and privacy concerns and fear of AI, and seeking literacy on new technologies. The analysis of the responses demonstrates that overall, the Japanese population has a limited knowledge of AI, EAI, and smart technologies but trusts the healthcare system, physicians, and staff to use it properly, with little worries over the potential pitfalls related to data security and safety. However, they prefer the use of more human resources and are concerned about privacy and the high cost of new technology, and believe little information is being provided to them through government and media. (shrink)

In lieu of an abstract, here is a brief excerpt of the content:Reviewed by:Dr. Ambedkar and Untouchability: Fighting the Indian Caste SystemChristopher S. QueenDr. Ambedkar and Untouchability: Fighting the Indian Caste System. By Christophe Jaffrelot. New York: Columbia University Press, 2005. xiii + 205 pp.Outside of India, Bhimrao Ramji Ambedkar remains virtually unknown. Everyone knows that Mahatma Gandhi led the fight for Indian independence and that his nonviolent marches inspired Dr. King and the American civil rights movement. Most educated men (...) and women have heard of Nehru and some of the political and literary figures that India has produced in modern times. But few know of the first Untouchable to attend college, who went on to earn advanced degrees in the social sciences and law at Columbia University, the London School of Economics, and Grays Inn, who returned to India in the 1920s to launch a civil rights movement for Untouchables, [End Page 168] who drafted the constitution for the Republic of India as its first law minister, and who led a mass conversion to Buddhism weeks before this death.Dr. B. R. Ambedkar (1891–1956) is venerated by millions of Buddhist and low-caste followers in India today, and at the same time feared by politicians determined to preserve the Hindu caste system he vowed to destroy. Admirers call him Babasaheb Ambedkar or simply Baba, using a traditional term of respect for a guiding elder, and many use the greeting Jai Bhim (“Victory to Bhimrao”) within the Untouchable communities. Ambedkar is portrayed on ubiquitous wall calendars, public statues, and home altars alongside that of the Buddha, wearing a Western suit and tie, with the horn-rimmed glasses and pocket pens of a scholar and diplomat. Although widely regarded as a bodhisattva or Buddhist saint, he is never pictured in the robes of a holy man or entreated in prayer by his devotees. And while most of his campaigns for Untouchable human rights were driven back by the Hindu nationalists, many of the provisions of his path-breaking legislation were eventually adopted after his death. In the intervening decades, amid deepening polarization over his legacy, the state government of Maharashtra has published eighteen volumes of Ambedkar’s collected works and the government of India has bestowed on him its highest civilian honor, the Bharat Ratna.Given the dearth of Western scholarship on Ambedkar’s place in the history of modern India and the emergence of socially engaged Buddhism, I welcome Chris-tophe Jaffrelot’s Dr. Ambedkar and Untouchability: Fighting the Indian Caste System. As a social scientist and director of the Centre d’Études et de Recherches Internatio-nales (CERI) who has published more than a dozen books on South Asian politics, Jaffrelot is well qualified to assess Ambedkar’s life and thought. Drawing on a wide range of materials on the social reform movements of the nineteenth and twentieth centuries and Ambedkar’s contributions to sociology and politics, the author aims to redress Ambedkar’s neglect by Indian scholars before the 1990s, when the low-caste movement began finally to gain traction. However, he does not address the anomaly of Ambedkar’s neglect by all but a small circle of Western authors.1The strength of Dr. Ambedkar and Untouchability is its concise analysis of the geographical, political, and social context of Ambedkar’s career. Jaffrelot shows how British recruitment of the Mahars, members of Ambedkar’s lowly but numerous caste, for service in the colonial army resulted in disproportionate levels of literacy. Ambedkar was the fourteenth child in such a military family, whose father held the rank of major and served as a school master for the barracks. Both parents and all of Bhimrao’s uncles could read and write, compared to less than one percent of Mahars in village life. Moreover, in spite of his brilliance and determination, Ambedkar could not have continued his education without the financial support of Maratha maharajahs who opposed the Brahmins’ monopoly in education. “Ambedkar was the heir to a regional tradition; his struggle harked back to the anti-Brahmin movements which emerged in western Maharashtra from the mid-nineteenth century onward, a precocity that only the Dravidian South—the other key area of anti-Brahmin mobilization—could match.”Jaffrelot presents... (shrink)

Health equity matters, but there is no universally accepted definition of this or associated terms, such as inequities, inequalities, and disparities. Given the flexibility of these terms, investigating how policymakers understand them is important to observe priorities and perhaps course correct. Accordingly, this study analyzed the perceptions high-level policymakers within the WHO African Region. An online survey was distributed to attendees of the WHO’s Fifth Health Sector Directors’ Policy and Planning Meeting for the WHO African Region by email. After responses (...) were collected, both inductive and deductive coding were applied. Inductive coding was undertaken to glean central concepts from free-form responses on understandings of health equity and deductive coding was used to assess alignment with four theories of distributive justice using a coding framework. In analyzing central concepts, three became apparent: access to health services and/or health care, financial protection, and recognizing subgroups. And when we investigated alignment with theory, most respondents’ understandings of health equity aligned with Rawls’ ‘Theory of Justice’ (95%). Of these responses, 70% were exclusively aligned with Rawls’ ‘Theory of Justice’ and 30% aligned also with another theory (this 30% was split 55% utilitarianism and 45% Sen’s Capabilities Approach). Respondent understandings of health equity showed limited alignment with other theories of distributive justice, which were: utilitarianism (n = 7/39; 17.95%), Sen’s Capabilities Approach (n = 5/39; 12.82%), and libertarianism (n = 2/39; 5.13%). Our study demonstrates that alignment with certain theories is tied to specific themes (i.e., theoretical underpinnings may guide policymakers to favour certain policy approaches). For instance, a utilitarian-minded policymaker may be focused on a widespread vaccination campaign, whereas a Rawlsian-aligned policymaker may focus on a targeted approach to reach communities that have lower vaccination rates, and a Senian-aligned policymaker may focus on health literacy programs targeted at addressing vaccine-hesitant individuals within communities with lower vaccination rates. These findings can guide high-level policymakers and international organizations to optimize decision-making by clarifying ethical alternatives. (shrink)

Analyses of the global financial crisis that assign causality to the erosion of parts of the welfare state that protected individuals miss the importance of macro level regulation that protected firms and the financial system from itself. Post-Depression macro level regulation of finance prevented the emergence of mismatched maturities where deposits lacked state guarantees, and thus prevented runs on banks or near-banks. A balance sheet approach shows that macro regulation linked long duration liabilities in housing finance to long (...) duration assets. Deregulation permitted the reemergence of mismatched maturities, providing both a necessary and sufficient condition for the current financial crisis. (shrink)

A systematic review was carried out on the production and publication of research papers related to the study of the variables Administrative Accounting, Innovation, Financial Management and Sustainability, the PRISMA approach (Preferred Reporting Items for Systematic reviews and Meta-Analyses). The purpose of the analysis proposed in this document was to know the main characteristics of the publications registered in the Scopus and Wos databases and their scope in the study of the proposed variables, achieving the identification of 58 publications (...) in total. Thanks to this first identification, it was possible to refine the results through the keywords entered in the search button of both platforms, the following keywords: MANAGEMENT ACCOUNTING, INNOVATION, FINANCIAL MANAGEMENT, SUSTAINABILITY, reaching a total of 15 documents, excluding duplicates and those that did not meet the analysis criteria. From this analysis, it is expected to know the contributions of the scientific community to the study of the contributions of administrative accounting in sustainable financial management, in support of decision-making by senior management, always seeking the optimization of resources and increase profitability through innovation and the principles of sustainability. (shrink)