Employees Of Financial Institutions Research Articles

Considerations of Religion and Situational Factors, Internal Control on the Occurrency of Fraud Trends: An Experimental Study of the Financial Services Sector in Indonesia

Financial statement fraud does not only occur in the private sector but can also occur in the government sector in the form of material misrepresentation of financial statements to cover up the actual financial condition by carrying out financial engineering. This study aims to examine religious considerations and situational factors, namely pressure or directives from superiors and internal controls against committing fraud tendencies. Literature reveals that religion plays a dominant role in shaping employees' values in their work. This study used an experimental method on 33 financial institution employees divided into two sessions to see the impact of scenarios. The analysis technique using Analysis of Variances (ANOVA) is used to perform multivariable comparative analysis. The results of empirical testing show that internal control factors have a negative influence on fraudulent behavior, and pressure factors or superior directions have a positive effect on the tendency to commit fraud. Meanwhile, religious considerations have less influence on fraud tendencies.

The Concept, Types, and Penalties of Tax Violations: A Study of Afghan Laws Perspective

Aim: The main purpose of this study was to clarify the concept, types, and penalties of tax violations according to the laws of Afghanistan, and propose necessary solutions to prevent tax violations in Afghanistan.
 Methods: Descriptive and explanatory methods were used in the research of the relevant content. The topic of the research was guided by the Afghanistan Income Tax Law, the Law on Taxation Affairs Administration, the guidelines and manuals of the Ministry of Finance, and the Penal Code of Afghanistan.
 Results: The findings of the research show that according to the laws of Afghanistan, some actions are considered tax violations. These are late payment of taxes, the imposition of withholding taxes, failure to submit financial statements on time, failure to protect financial documents, submitting an incorrect identification number, providing false information to employees of financial institutions and obstructing the activities of taxation employees. 
 Conclusion: The financial laws of Afghanistan have provided some penalties to prevent tax violations, and these punishments play an important role in preventing tax contraventions. However, tax violations still occur due to the lack of professional capabilities of tax agency employees and the weakness of the financial system.
 Recommendations: The Afghan government should make some amendments to the income tax law and the law on taxation affairs administration, taking into account the economic conditions of the society and the state of taxpayers. The Ministry of Finance of Afghanistan and Afghanistan Revenue Department (ARD) should design and implement the training courses and workshops about taxation, accounting and interpersonal skill to improve the professional skills and capacity of the employees of the tax agencies, also to undertake necessary measures for the motivation and awareness of taxpayers.

MEASUREMENT OF EMPLOYEE INFORMATION SECURITY AWARENESS: CASE STUDY AT FINANCIAL INSTITUTION

The lack of awareness regarding information security among employees in financial institutions can have detrimental impacts on both customers and the institution itself, both financially and in terms of trust. Therefore, this research aims to assess the information security awareness at PT XYZ, a financial institution, in order to identify the existing level of awareness, which will be used to provide recommendations. The method applied in this research is quantitative, using a questionnaire as a tool for data collection and distribution with a voluntary sampling technique among PT XYZ employees concerning their awareness of information security. The assessment of information security awareness covers 8 specific aspects, with 7 of them drawing sources from HAIS-Q and another 1 referring to the KAMI Index, using the Analytic Hierarchy Process (AHP) for weighting each area. The total number of respondents participating in this research is 52. The research results affirm that PT XYZ employees have a positive awareness of information security, indicating that there are no urgent actions needed at present. However, there are specific areas with potential for improvement, hence recommendations are provided to enhance and sustain information security awareness among employees.

Fostering workplace civility in the Financial Sector: The influence of ethical leadership practices and ethical work climate

The research investigates ethical work climate as a mediator in the nexus between ethical leadership practice and workplace civility among employees of financial institutions in Ghana. Convenience sampling was adopted to obtain responses from 432 respondents from April to October 2022 using a self-reported questionnaire. The data gathered was analyzed using a partial least squares structural equation model. The findings of the study indicate that ethical leadership positively influences workplace civility and the ethical work climate. Additionally, the ethical work climate influences workplace civility and further mediates the association between ethical leadership and workplace civility. It is recommended that financial institutions work to create an ethical work climate where leaders can exhibit appropriate ethical leadership traits to enhance civility at the workplace. This study is a valuable contribution to the existing body of ethical literature since it fills a gap by examining interactions that have not been previously investigated within the ethical literature context.

Antecedents of big data adoption in financial institutions

Big data (BD) adoption is still relatively slow despite the numerous business opportunities that it embodies. Within the context of financial institutions in South Africa, the specific drivers of big data adoption remain largely indeterminate. Consequently, this study explores the possible relationships between perceived usefulness and perceived ease of use and actual big data adoption, while being duly cognisant of the role that behavioural intention to adopt big data could play. The study employed a survey research approach and relied on data collected from a purposive sample of 195 management level employees of financial institutions. Regression analysis to test the hypothesised relationships in the study revealed that perceived usefulness and perceived ease of use were statistically significant predictors of big data adoption. Instructively, this relationship was subject to the extent of behavioural intention of respondents. For respondents with a low behavioural intention to adopt big data, perceived usefulness and perceived ease of use displayed a statistically insignificant relationship with big data adoption. Conversely, the regression model for the group of respondents with a high behavioural intention to adopt big data is statistically significant. These findings enrich literature related to big data from a developing country context while concurrently identifying veritable antecedents of big data adoption in financial institutions.

Influence of the Selection Criteria for Regional Industrial Projects on Their Implementation Efficiency

The purpose of this study is to determine the most important criteria for the selection of regional industrial projects. As part of the study, the authors conducted a review of modern literature on this topic and identified 19 criteria for the selection of regional industrial projects. To determine the most priority of these criteria, an expert survey was conducted using the ranking method. Entrepreneurs who have implemented several projects in the Zhambyl region, as well as employees of state bodies, representatives of the scientific sphere and employees of financial institutions were selected as experts. To summarize the data obtained as a result of the expert survey, descriptive statistics methods were used (indicators characterizing the degree of consistency of expert opinions, and coefficients of variation were calculated). According to the results of the study, the most important criteria for the selection of regional industrial projects were determined. After determining the criteria for the selection of regional industrial projects, an analysis was carried out on those projects that, a few years after the launch of the project, did not reach their design capacity. Analysis of the reasons for their stoppage or failure to reach the design capacity showed that the criteria identified by us as a result of this study are a priority. The results of this study may be of interest to both researchers and heads of regional government agencies when selecting projects for inclusion in the industrialization map of the region.

Professional Certifications of a University Master’s Degree and Employability: Impact on Students’ Perception

<p style="text-align: justify;">Professional certifications represent for many university degrees, especially postgraduate degrees, a recognition of their academic quality and the future employability of the graduates. This article contributes to the analysis of the impact of external accreditations on students’ perception of employability and satisfaction. We offer a case of study, a Master of Science (MSc) in Banking and Finance that became the first academic degree in Spain to obtain the two professional accreditations required for employees in financial institutions since 2019. A survey to a sample of students who graduated two academic years before and two years after the MSc was recognised is used to measure students' motivations for enrolment and satisfaction. The results provide significant evidence that professional accreditation became a key motivation for students to enrol the master, is associated with a more diverse geographical origin of students, and students highlight the higher quality and better coordination of the teaching staff.</p>

Pozicija osiguranja u finansijskom sektoru Republike Srbije

The need for insurance dates back to the distant past with the main goal to avoid risks and to share the costs in case of its realization. A lot of time has passed from unorganized to institutionalized insurance. Today, insurance plays a significant role in the financial system, which is different depending on the achieved level of economic development. The subject of the analysis is the development of insurance and its position in the financial sector of the Republic of Serbia in the last seven years. In this sense were analyzed the movement of balance sheet amounts, capital and the number of employees in financial institutions and its participation in the financial sector. The data indicates an increasingly important role of insurance, especially when it comes to employment. Not only insurance, but also the entire financial sector in the observed period achieves positive tendencies in all considered categories. However, regardless of the positive trend, the development of insurance is still modest, so its full potential and significance for the financial system will be realized in the future.

Modeling Individual Beliefs to Transfigure Technology Readiness into Technology Acceptance in Financial Institutions

Over the past few decades, financial institutions have been considerably influenced by swift technological advancements. Therefore, it is critical to understand employees’ reactions and adoption of cutting-edge technologies in order to build up their morale, efficiency and work quality. Furthermore, there is slow technology adoption and learning in Pakistani financial institutions owing to a lack of infrastructure, lack of trust, improper knowledge, security, and quality of services offered by financial institutions. Thus, this study intentions to empirically examine the effects of personality dimensions (optimism, innovativeness, discomfort, and insecurity) of TRI (Technology Readiness Index) on the cognitive dimensions of TAM (Technology Acceptance Model) for online readiness, as well as to investigate this relationship with the moderating role of individual beliefs (subjective norms and self-efficacy) in financial institutions of Pakistan. In this study, a self-administered questionnaire was utilized to acquire 351 valid responses from the employees of financial institutions in Pakistan. The model was tested employing the collected data with the help of the Partial Least Structural Equation Modeling (PLS-SEM) technique applied through SmartPLS 3.3.2 software. The findings reveal that both technology readiness and technology acceptance are cardinal in shaping employees’ behavioral intentions toward the internet banking system. Furthermore, the results posit that individual beliefs significantly concatenate TRI and TAM into TRAM. This study suggests that integrating TRI with TAM in relationship with moderating roles of subjective norms and self-efficacy would give countenance to the employees of financial institutions in adopting avant-garde technology to boost their efficiency and work quality.

Banking on the Cloud: Insights into Security and Smooth Operations‎

Cloud computing facilitates the online provisioning of IT resources, and banks are progressively adopting it to enhance operational efficiency. Despite its usefulness, combining cloud services is not without its difficulties. This study examines the pros and cons of using cloud services in banking, focusing on data security, infrastructure stability, and ongoing business functions. For the purpose of this study, we interviewed a number of leaders in the field, such as officials from a major cloud provider and an Omani bank. The importance of addressing environmental considerations, personnel training, data privacy, security, and system integration was highlighted through key insights. It was concluded that, in order to make a smooth shift to the cloud, financial institution employees must have a thorough understanding of its features. The findings of this research add to the ongoing discussion about banking’s embrace of the cloud and provide useful pointers for working with the cloud.

What’s in it for me? Compliance toward change comes with Personal Valence

For today’s organizations, survival and growth depend on responding quickly to the changes occurring in the environment. Effective execution of change programs depends to a considerable degree on the extent to which their employees value change. Therefore, making them understand that change is beneficial for them is imperative for enactment of any change program. Grounded in the theory of planned behavior, this research aims at examining the direct impact of personal valence on employees’ compliance toward change. Further, change readiness and commitment to change are proposed as sequential mediators between personal valence and compliance toward change. Self-administered questionnaires were utilized to collect primary data. The selected 583 respondents were officer-ranked employees in financial institutions, as well as media and telecom in the Punjab province and Islamabad, Federal Capital Territory of Pakistan. To test the hypotheses, PROCESS macros are employed for measuring the effects of mediation. The findings supported the hypothesized relationships of the study that personal valence directly influences compliance toward change. Moreover, change readiness and commitment to change also mediate, in sequence, the relationship between personal valence and employees’ compliance toward change. These findings establish that for the effective implementation of change programs in an organization, it is indispensable that employees must perceive the change program as beneficial and valuable to them. Limitations and future research avenues regarding this study are also discussed accordingly.

Going ESG: The Economic Value of Adopting an ESG Policy

Does having an environmental, social, and governance (ESG) policy have an impact on stakeholders? This research presents a unique model that allows us to measure the economic value of adopting an ESG policy for financial institutions’ stakeholders. Using the results of a questionnaire distributed among financial institution employees and customers, we find that, on average, employees are willing to forgo 11% of their salary to work for a company that has adopted and implemented such a policy. In addition, customers are willing to pay 47% more in management fees to do business with financial institutions that have such a policy. To our knowledge, this is the first study that quantifies the benefits for financial institutions stakeholders of adopting an ESG policy.

Impact of Human Resource Management Practices on Organizational Citizenship Behavior in Nepalese Financial Institutions

Human resource management (HRM) practices refer to all the activities necessary for manpower management of the organization. It is the process of acquisition, development, utilization, and maintenance of human resources in the organization for its long-term sustainability. The emergence of a liberal economy and globalization bring a rapid change in HRM practices and its impact on organizational citizenship behavior for improving organizational competitive strengths. At present human resources are said to be the human capital that can play a significant role in improving competitive advantage and sustaining business activities of all organizations including financial institutions. The purpose of this study is to examine the impact of HRM practices on the organizational citizenship behavior of employees working in Nepal's financial institutions, which include commercial banks, development banks, finance companies, and insurance companies. In this study, HRM practices involve four variables consisting of training and development, performance appraisal, compensation system and employee participation. For the study, the opinions of 405 employees of financial institutions working at managerial, officer and assistant levels are taken into account. Pearson Correlation is used to determine the relationship between HRM practices and organizational citizenship behavior, whereas multiple regression is used to examine the impact of HRM practices on organizational citizenship behavior. The findings reveal that HRM practices have a positive association and also have an impact on the organizational citizenship behavior of Nepalese financial institutions.

Should I Stay or Should I Go? Explaining the Turnover Intentions with Corporate Social Responsibility (CSR), Organizational Identification and Organizational Commitment

The aim of this paper was to investigate the relationship between corporate social responsibility (CSR), organizational commitment, and organizational identification with turnover intentions. This paper also explains the mediating relationship between organizational commitment and organizational identification with the corporate social responsibility and turnover intentions. The data were gathered from banking professionals working in different banks in Pakistan. The participants were recruited through convenient sampling; in total, three hundred participants were involved in this study. The resulting data were analyzed, and the conclusions were drawn through regression and correlation analysis using the SPSS Software. The findings of this study show that corporate social responsibility plays a significant role in determining the organizational commitment and organizational identification of internal stakeholders and employees in financial institutions. This study will be help organizations determine their social responsibility and all the benefits that they can receive through the implementation of CSR practices.

A Study on Emotional Intelligence on the Decision Making by the Employees of Financial Institutions in India

A Study on Emotional Intelligence on the Decision Making by the Employees of Financial Institutions in India

Korporativna društvena odgovornost i očekivane koristi u finansijskom sektoru - empirijsko istraživanje u Srbiji

As one of the pillars of the economy, financial institutions play important role in implementation of the concept of corporate social responsibility (CSR). The paper is focused on CSR in the financial sector, i.e. the perception of employees in banks and insurance companies in Serbia on the level of development of CSR regarding its external dimensions, such as responsibility toward beneficiaries, community and environment. The aim is to identify the employees' perceptions of external aspects of CSR in the financial sector, as well as to determine the impact of selected external aspects on the expected CSR benefits. The results of the conducted empirical research demonstrate a positive attitude of employees in financial institutions in the Republic of Serbia towards external aspects of CSR, as well as statistically significant impact of CSR towards beneficiary and environment on the expected CSR benefits. Additionally, the results indicate that CSR towards the community does not affect the expected benefits. Accordingly, we identified some practical and theoretical implications that can serve as a basis for creating and implementing a strategic approach to CSR in financial institutions.

Antecedents of Knowledge Hiding and Their Impact on Organizational Performance

Research on knowledge management has rapidly increased in the last decade, leaving a huge gap on how, why, and what triggers knowledge hiding in inter-organizational setups. Furthermore, the fostering factors for knowledge sharing have also remained unexplored because the employees in an organization are unwilling to share their knowledge with others for several reasons. The current study has attempted to explore the reasons that make employees hide their knowledge from other employees in order to excel. The individual factors considered in this study that make employees hide their knowledge are the lack of rewards for knowledge sharing, internal competition, and psychological entitlement. Furthermore, the interesting consequent factor of knowledge hiding in this study was found to be significant. The moderating role of employees’ social status has a significant moderating effect on the relationship between knowledge-hiding behavior and organizational performance. The population of the study was the managerial employees of financial institutions of China and the sample size taken in his study was 446 via convenient sampling technique. The independent factors in this study found significant results of knowledge-hiding behavior, thus approving the mediating role of knowledge hiding in the organizational performance of the financial institutions of China. The software used in this study for the data analysis was smart PLS and the technique used was partial least square SEM for the measurement of the hypothesis of the study. The study’s findings also have certain implications for policymaking in financial institutions that may hinder knowledge hiding practices and support the uninterrupted flow of knowledge among employees.

ENGAGEMENT AND INVOLVEMENT OF PERSONNEL DURING REMOTE WORK

The COVID-19 pandemic has altered the majority of the world’s organisations through making remote work a part and parcel of everyday life. The number of people working remotely has increased substantially creating a challenge for the organisations to manage and involve their personnel. Engagement and involvement of the personnel are major factors contributing to a positive outcome of the remote work processes. The aim of this research paper is to establish what the engagement and involvement of the personnel are while practising remote work in the Latvian financial institutions. This research paper put forward the following issues for exploration: what is the engagement of the financial institutions’ personnel in their work while working remotely? What is the involvement of the financial institutions’ personnel in their work while working remotely? Is there a link between engagement and involvement of the financial institutions’ personnel during remote work? This paper explores the definitions of engagement and involvement by various authors and many forms of remote work putting emphasis on expansion of remote work due to the pandemic. The research made use of 3 surveys: a survey on the engagement of personnel during remote work, a survey on involvement of the personnel during remote work and a survey on the personnel’s opinion on remote work compiled by the authors of this research paper. There were 98 full-time employees of financial institutions participating in the research who were transferred from office jobs to a form of remote work during the COVID-19 pandemic. The results of the research demonstrate that only a fraction of the financial institutions’ personnel were engaged and involved during their remote work and that institutions had to resort to additional measures in order to promote involvement and engagement of the rest of the personnel and attain better operational results. The major problems highlighted by the results of the research are: insufficient internal information exchange and co-operation. The personnel feel responsible for the performance of their work, but admit to lacking inspiration that would foster their engagement. They also acquired negative experiences while working remotely. The results of the research identify a need for further research on the significance of the internal culture and communication of financial organisations for the promotion of involvement and engagement of personnel during remote work.

Financial literacy and financial behavior with the mediating effect of family financial socialization in the financial institutions of Lahore, Pakistan

PurposeThe main purpose of this study was to find out the relationship between financial literacy and financial behavior and to discover the mediating influence of family financial socialization on this relationship. The study also particularizes that how personal knowledge of finance of an employee and whatever they have learned through family socialization will help them to make sound decisions having a financial impact on them and their family.Design/methodology/approachEmployees of financial institutions employed and residing in Lahore, Pakistan, were the target population of this report. It was a cross-sectional quantitative research study. By using a detailed questionnaire, primary data were obtained. The sample size was 330; through convenience sampling, employees employed in banks were chosen. Descriptive analysis, parametric test, reliability test, and correlational examination with the aid of SPSS 23 and the use of SmartPLS 3.0. are knowledge investigation techniques used in this examination study to infer outcomes.Results/findingsThe outcomes which are created from this exploration include: (1) there was no distinction in the financial conduct of representatives from various socioeconomics gatherings. Financial education has a critical positive relationship with financial behavior. (2) Family financial socialization additionally shows a huge positive relationship with financial education and financial behavior. (3) Financial education demonstrated a remarkable abnormal impact on financial behavior through family financial socialization. (4) Family financial socialization shows partial mediation between financial literacy and financial behavior. We can accomplish that formal, as well as informal, training of finance decides the financial behavior of people.Originality/valueThis study is the first of this kind to examine the association between financial literacy, and financial behavior using family financial socialization as a mediator and employees of financial institutions as the target population.

Using financial board games in teaching financial literacy at general secondary education institutions

The article substantiates the ways of using educational games to teach financial literacy at level of secondary school in Ukraine. The methodology of conducting original financial games is described in brief and the influence of the latter on shaping a financially literate next generation is proved. The article presents an overview of the «Ponzi Scheme» board game, which was created to provide children with a clear explanation of Ponzi schemes and risks of monetary losses inherent to such illegal means of moneymaking. It is established that in addition to important educational aspects, the children develop a habit of making informed financial decisions in the course of playing. Research has shown that nowadays fraudsters have become so convincing that it is very difficult to distinguish between them from the real employees of financial institutions. The «Financial Fraudsters» board game enables players to learn specific communicative skills necessary to avoid various types of financial fraud, therefore the authors substantiate the methodology of enacting it. The article considers the peculiarities of playing the «Economy is Alive» board game, which is designed to demonstrate the human impact on the environment and the need for conservation of resources. The game makes it possible to master the comprehension of the relationships between objects and phenomena and creates the basis for environmentally conscious upbringing of children by satisfying their curiosity and involving them in active observation of the environment. Approbation of these games has shown that they organically combine the theory that makes learning exciting and the practice that clarifies the knowledge acquired by the educational process participants. In view of the research results, it is determined that under modern conditions edutainment must become a significant supplement to the classical methods of teaching financial literacy within the system of general secondary education in Ukraine.