Advancing Farmers’ Vocational Education: Innovative Strategies and Practices for Integrating Financial Literacy Enhancement in China

The importance of professional competence (PC) in business administration (BA) has increased considerably in many industrial nations over the past several years. However, while economic competence is being assessed internationally in the Assessment of Higher Learning Outcomes (AHELO) study, the modeling and assessment of PC in BA needs more research, particularly from an international perspective. We defined and modeled the construct of PC in BA based on theoretical analyses and evidence from international studies and, for the assessment, focused on knowledge of BA as a key facet of PC in BA. In this article, we describe the developed structural model of knowledge in BA and present the specifications and findings for the example of financial knowledge (FK). In the model, we describe cognitive levels of FK in relation to subject content and subject didactics. Moreover, we discuss influence factors on FK. Subsequently, we present the results from the empirical analyses on FK. Assessment data was gathered using an adapted and further developed international test instrument. The sub-sample for the analyses comprised 773 students from 23 institutions of higher education in Germany. We used item response models to confirm the theoretically modeled levels and multilevel modeling to analyze influence factors on FK. The Rasch model showed a good fit to the data and confirmed the theoretically modeled levels. From the perspective of vocational education and training, we investigated the extent to which FK is influenced positively by commercial vocational training completed prior to higher education studies. We analyzed this while controlling personal influence factors, such as mother tongue and gender, and study-related influence factors such as completion of subject-related courses at university, number of semesters, and type of institution of higher education. We found that prior commercial vocational training affected FK even when the other influence factors were controlled. These results support the assumption that during dual vocational education and training students acquire professional knowledge and gain experience related to their job or practical training that are not or cannot be taught in this way at universities or universities of applied sciences.

Financial literacy is an essential skill that significantly influences individuals’ financial behavior and investment decision-making, particularly among MBA students who are expected to manage financial resources effectively in their professional and personal lives. This study titled “Financial Literacy and Its Impact on Investment Decision among MBA Students” aims to assess the level of financial literacy among MBA students and examine its impact on their investment decisions. The study focuses on understanding students’ knowledge of financial concepts such as budgeting, savings, risk–return relationship, financial planning, and awareness of various investment instruments. Primary data were collected through a structured questionnaire administered to MBA students, while secondary data were gathered from journals, books, and online sources. The collected data were analyzed using suitable statistical tools to identify patterns and relationships between financial literacy and investment behavior. The findings indicate that MBA students with higher financial literacy levels tend to make more informed, rational, and diversified investment decisions, showing better risk assessment and long-term financial planning. In contrast, students with lower financial literacy exhibit limited awareness of investment options and higher risk aversion. The study highlights the importance of incorporating practical financial education into MBA curricula to enhance students’ financial knowledge and decision-making abilities, thereby contributing to improved personal financial management and overall economic well-being. KEYWORDS: Financial Literacy, Investment Decision, MBA Students, Financial Awareness, Risk and Return, Financial Planning, Investment Behavior.

This study observed how financial behavior, financial literacy, and self-control relate to one another among higher education staff members. The aim was to understand the impact of these factors on their financial decisions and general financial wellbeing. Questionnaires were used to assess university employees' self-control, financial conduct, and financial understanding from different departments. The results showed that higher financial knowledge was linked to better financial habits. Additionally, self-control was found to influence how financial knowledge affected behavior, with people with more self-control making smarter financial decisions. The study offers valuable insights into how psychological and educational factors impact financial outcomes for university employees. It also emphasizes how crucial financial education initiatives are to enhancing workers' financial security and decision-making abilities. The study examines the connections between employees' behavior, financial literacy, and self-control using descriptive correlational and causal research methods. The outcomes show that participants, primarily young, female, single, and educated, generally demonstrate good financial behaviors, financial literacy, and self-control, particularly regarding responsibility management and financial knowledge—emphasizing the necessity of better financial education. Improving employees' self-control and financial knowledge may improve their financial results.

This study examines the impact of the financial literacy level on the effectiveness of financial planning. Survey among a sample of 100 undergraduates in Sri Lankan university system was used to gather data. Purpose of the study is to identify whether the financial literacy is playing a vital role in financial planning of university students. Financial literacy was measured by Knowledge level on financial concepts, financial risk, financial system components, investments, loans and saving products. Effectiveness of Financial planning was measured through the questions relevant to cash management, saving and investment planning and execution in debt management. Regression Analysis through E-Views has been used to major statistical analysis. Through the analysis, it was founded that financial knowledge about financial risk, financial concepts, savings, investments and loans are leading a person towards a better financial behavior and planning. However, the knowledge about financial system components is not having a significant impact on effectiveness of financial planning. Results of the research study would assist to understand the importance of financial knowledge and literacy on personal financial success which would lead towards a successful nation as well.

Financial literacy is a combination of awareness, knowledge, abilities, attitudes, and behaviors needed to make financial decisions. This study aims to find a behavioral model of financial literacy. This study uses a survey method with a quantitative approach. Respondents involved homemakers in Maros Regency, South Sulawesi, to fill out the questionnaire provided. Path Analysis was used to analyze the data SPSS and Winistep are used as tools in analyzing the data. Specifically, the data analysis used in this study used Structural Equation Modeling (SEM) data analysis techniques. Statistically, the value of the sample covariance matrix must not differ significantly from the population covariance matrix value. Financial Literacy Attitudes had a direct effect on Financial Literacy Behavior. Basic Knowledge of Financial Literacy had a direct effect on Financial Literacy Behavior. Financial literacy behavior is determined by financial literacy attitudes and basic financial literacy knowledge. Therefore, financial literacy knowledge and attitudes need to be improved to improve financial literacy behavior among homemakers. Financial Literacy Attitudes contribute the most to financial literacy factors. financial attitudes that have a more significant influence on financial knowledge in financial management practices.

Financial literacy is a crucial asset within the human capital pool, whether individuals are working within or outside the hospital setting. Professionals in various fields benefit from financial literacy, and the main recipients include individuals, the broader economy, businesses, and the overall financial system. In the context of medical professionals, the expectation is often that they make informed business decisions and effectively manage healthcare facilities. However, a notable challenge is the potential lack of essential skills in financial literacy among these professionals. In Kenya, a considerable number of healthcare professionals face a deficiency in financial literacy skills, hindering their ability to proficiently handle even small businesses in private practices and oversee financial matters in hospital departments, both in public and private healthcare facilities. Consequently, the objective of this study is to present healthcare professionals with a roadmap to identify and address gaps to enhance their financial literacy. A survey was conducted from June to July 2023, involving 339 doctors, including medical doctors, dentists, and pharmacists. The findings were interesting concerning gender performance and global comparisons. Unlike previous studies, female doctors demonstrated a higher financial knowledge, behavior, and attitude, suggesting a well-rounded financial proficiency compared to their male counterparts. At the global level, the descriptive analysis revealed strong financial knowledge, positive attitudes, and prudent financial behaviors among the Kenyan participating doctors compared to the OECD global averages. For example, unlike the OECD global average of 52.5% in financial knowledge and literacy, the findings for the Kenyan counterparts stood at 77%; while the OECD global average for financial attitude was 70%, that of the Kenyan counterparts was at 75%; and compared to the OECD global average of prudent financial behavior of 59%, that of the Kenyan counterparts was 69%. It seems that socio-demographic factors, coupled with financial knowledge, attitudes, and behaviors, intricately influence the financial literacy of healthcare professionals. The findings highlight the importance of implementing multi-level solutions to enhance overall financial literacy among healthcare professionals. These solutions include tailored financial programs, self-paced online courses with interactive elements, and the integration of financial literacy into medical undergraduate and postgraduate training curricula. Keywords: healthcare professionals, financial literacy, Kenya, multi-level solutions

Financial literacy empowers individuals to make informed financial behaviors, leading to better planning and management of life milestones like education, housing, savings, and retirement. This study analyzed the nexus between financial literacy and financial behavior among individuals by synthesizing existing theoretical frameworks and empirical research. The analysis reveals that financial literacy is significantly impacted by a combination of demographic (gender, income), educational (level), and personality characteristics (financial behavior, attitude, and influence). These findings highlight the multifaceted nature of financial literacy and financial behavior and underscore the need for targeted interventions that address the diverse factors shaping students' financial knowledge and decision-making abilities.

Abstract. The article is devoted to the problem of developing the professional and pedagogical competence of instructors in technical higher education institutions. Based on a theoretical analysis of psychological, pedagogical, and philosophical research on the professional development of personality, and in accordance with the logic of differentiating the basic concepts of “competence”, “competency” , “professional competence”, “pedagogical competence”, and “teacher’s professional competence”, the professional and pedagogical competence of instructors of specialized disciplines in technical higher education institutions and its main components have been defined. A structural-functional model for the development of professional and pedagogical competence of instructors of specialized disciplines in technical higher education institutions is presented as a theoretically grounded, holistic framework outlining how improved (modernized) professional development of academic staff should occur within the process of continuing education. The stepwise implementation of the proposed structural-functional model is described in accordance with five consecutive stages: motivational-instructional, prognostic-design, cognitive-informational, activity-process, and reflectiveresultative.The diagnostic methodological framework for assessing the level of professional and pedagogical competence of instructors of specialized disciplines in technical higher education institutions is outlined, encompassing criteria, corresponding indicators, and levels of component development. The results of an experimental evaluation of the structural-functional model’s effectiveness indicate that, by the end of the study, the experimental group demonstrated significantly higher numbers of participants achieving productive and creative levels for each criterion of professional and pedagogical competence compared to the control group. Based on the results of the experimental work, it is concluded that the broad implementation of innovations aimed at modernizing and optimizing the process of professional development for instructors of specialized disciplines in technical higher education institutions is advisable.

Financial literacy is crucial for financial control and opportunity navigation, yet often overlooked, particularly in South Asian countries where literacy levels lag behind developed nations. Enhancing financial literacy can significantly benefit individuals from lower socioeconomic backgrounds, improving income generation over time. This study examines the impact of financial literacy workshops on high school students in rural Chhattisgarh, India, focusing on improving financial knowledge. Using a quantitative approach, surveys were conducted with 286 students from three government schools, measuring financial knowledge before and after the workshops. The survey employed the financial knowledge scale developed in 2019 by NCFE. Results show a significant increase in knowledge, with mean scores rising from 5.08 to 8.71. Gender analysis reveals females initially had higher financial knowledge, but males surpassed them post-workshop. Age analysis indicates older students (above 15) had higher pre-test scores, yet younger students (15 and below) showed greater improvement. These findings demonstrate the effectiveness of interactive workshops in enhancing financial literacy and emphasise the need for targeted educational strategies. The study highlights workshops as valuable tools for financial education, fostering significant improvements across demographics. Insights from this research are crucial for educators, policymakers, and curriculum designers aiming to enhance financial literacy among rural youth. Future research should replicate these findings in other regions and explore various educational interventions to further boost financial literacy. This study contributes to understanding the role of financial education in equipping students with essential skills for personal and economic resilience.

The professionalism of vocational education and training (VET) teachers and the related career and competence development processes of VET teachers face many challenges related to institutionalization and reforms in the VET system of Lithuanian schools. Despite these challenges and problems, many VET teachers are aware of the meaning and importance of their work. The aim of the article is to present the results of the research on the needs of VET teachers in terms of content, learning and competence assessment, and to provide insights into how VET teachers construct their careers by developing pedagogical and professional competencies. The study involved 324 VET teachers from 10 VET centers (2 VET centers in larger cities, 2 VET centers in regional centers and 6 VET centers in rural areas. Age range: 38% aged 41–50, 35% over 51 years, 21% were between the ages of 31–40 and 6% were between the ages of 21 and 30. The study used structural equation modeling. Data were evaluated using the WLSMV tool Software: Mplus Version 8.3. The results of the research will allow the development of an online self-assessment tool that will allow vocational teachers to self-evaluate their professional and pedagogical competences and to plan their professional career development.

This study aims to analyze the level of financial literacy and examine its influence on the household welfare of vegetable farmers. Agricultural households, particularly smallholder vegetable farmers, frequently experience economic vulnerability due to several structural challenges such as unstable agricultural income, seasonal production patterns, fluctuating market prices, limited access to formal financial services, and inadequate financial management skills. These conditions often make farm households more susceptible to economic shocks, including crop failure, input price increases, or sudden market price declines. In this context, financial literacy becomes an essential capability that enables farmers to manage their financial resources more effectively.This research employed a quantitative research design using a survey approach. The study involved 120 vegetable farmers selected as respondents from major vegetable-producing areas. Data were collected through structured questionnaires designed to measure farmers’ financial literacy levels and household welfare conditions. Financial literacy was assessed through indicators such as financial knowledge, financial behavior, and financial attitudes, while household welfare was evaluated based on indicators including consumption stability, education and health expenditures, savings capacity, and overall economic resilience. The collected data were analyzed using descriptive statistics to describe the characteristics and financial literacy levels of respondents, and multiple linear regression analysis to examine the relationship between financial literacy and household welfare.The results of this study highlight the importance of strengthening financial education programs targeted at agricultural communities. Improving financial literacy among vegetable farmers can contribute not only to better household financial management but also to broader rural economic development. Therefore, financial education initiatives should be integrated into agricultural extension programs, farmer group activities, and local government development strategies. Such initiatives may include training in household financial planning, simple bookkeeping for farm businesses, savings management, and responsible credit use. By enhancing farmers’ financial capabilities, these programs can help improve household welfare, strengthen rural economic resilience, and support the long-term sustainability of the agricultural sector.

Are Economics and Financial Literacy Education Substitutes? A Difference-in-Difference Approach to Measuring the Returns to Financial Literacy Education.

This research aims to analyze the level of financial literacy of students of the Economic and Business Faculty. This research was designed as quantitative descriptive research. This research used a financial literacy test questionnaire to collect responses through purposive sampling. The result shows that the average financial literacy of students is in the high financial literacy category. Based on the outcome, students' financial literacy is influenced by parents' education. There is no significant influence of age and gender on students' financial literacy levels. Older students do not necessarily understand financial literacy, and younger students do not necessarily misunderstand financial literacy. Men and women students have the same perspective about financial literacy in this period. With this finding, students who receive or do not receive education or information about financial knowledge from their parents can dig deeper into financial concepts through formal and non-formal education, such as through universities, social media, and study group discussions. A high level of financial literacy can affect many social aspects of society, which are becoming more developed, and financial perspectives are becoming more modern.

Advancements in financial system and technology, enlarged individual responsibility for financial decisions, and rapid information expansion, have fundamentally transformed women's need to be functionally literate and financially capable, especially after the COVID-19 pandemic. The personality also has long term implications on financial well-being. The aim of the paper is to study the dominating role of financial attitude, financial awareness & skills, and financial behaviour on financial competence and the moderating role of personality on financial knowledge, financial behaviour, financial attitude, and financial capability. Multi stage stratified random sampling has been used to collect data from 530 urban working women in both the Public and Private sectors, self-employed professionals, and entrepreneurs. Smart-PLS is used by applying Structure Equation Modelling (SEM) to study the moderating role of personality on financial attitude, behaviour, knowledge, and capability. Further the Chi-square test and Tukey test and Kruskal Wallis Test are used to test the hypothesis. The study found that Financial Knowledge of working women with gold personalities influences their financial capability (Beta, 0.578) the most, While, Financial Behaviour is the primary influencer having green (Beta, 0.396) & blue (Beta, 0.638) personalities. Working women having Green Personality are found to be superior with respect to Financial Behaviour, Financial Capability and Financial Knowledge. It is also observed that working women having blue personality characteristics, have comparatively better financial attitude.

Financial literacy is a persistent problem in society, exemplified by poor financial knowledge among college students and exacerbated by high student debt and inadequate understanding of savings concepts. The goal of this study was to better understand how college students develop financial literacy. This qualitative exploratory case study was guided by the overarching research question: How do students at a large northeastern university develop their financial knowledge? Sub-questions of this study were: (a) In what ways do students' family experiences influence their financial attitudes, beliefs, and behaviors? (b) How do students describe their financial attitudes, beliefs, and behaviors after completing the financial literacy course at a large northeastern university? To understand how college students develop financial knowledge, attitudes, beliefs, and behaviors, this study focused on 10 college students who completed a financial literacy course and on students' financial experiences with family and non-family socializers. Semi-structured interviews were utilized to illuminate the experiences of the selected college students. Findings from the study suggest that students gain financial knowledge and confidence both from family and non-family members as well as from financial literacy classes. Students described being directly and indirectly financially socialized by family and non-family members. After taking the financial literacy course, students perceived an increase in general financial knowledge, specifically regarding stocks, mutual funds, retirement accounts, and debt. Moreover, five of the ten participants described behavioral changes after taking the financial literacy course, including establishing credit, using budgeting apps, opening investment and individual retirement accounts (Roth IRAs), and investing in mutual funds. Findings from the study suggest that students have a strong interest in learning about investments and a strong understanding of debt and credit concepts, and that their direct financial socialization may influence both knowledge and behaviors. To bolster college students' financial knowledge and confidence, it is recommended that institutions of higher education provide financial literacy courses. Future research could evaluate financial literacy course effectiveness and explore the concept of indirect financial socialization.