Financial Matters Research Articles

Analysis of Monetary Policy and its Effect on Indian Economy

Financial strategy matters for development both in the short-run and long-run. This study centres around the assessment of financial strategy and its effect on Indian economy. By means of observing the degree of cash supply, the national bank endeavours to safeguard cost strength. The review is finished utilizing different markers and factors like Total national output as reliant variable and repo rate, invert repo rate, joblessness, Unfamiliar direct venture and expansion as free factor. Utilizing these factors, it was figured out that the economy of a country is absolutely reliant upon these variables. The boundary of ascertaining Gross domestic product was unique. The target of the exploration is to know viability of financial approach in India and to examine the effect of chosen money related instruments on Indian Economy.

Does Society Influence the Gender Gap in Risk Attitudes? Evidence from East and West Germany

Previous international research suggests that women are on average more risk averse than men. This gives rise to the question of whether the gender gap in risk attitudes is shaped by the social environment. We address this question by examining risk attitudes among East and West Germans. Even many years after reunification, East Germans have much more equal gender roles than West Germans. Thus, if the gender gap reflects socially constructed norms, it should be smaller among East Germans. Using data of the German Socio-Economic Panel (SOEP), our empirical analysis confirms this prediction. Specifically with respect to career and financial matters, the gender gap in risk tolerance is smaller among East Germans. We find no evidence that the East German gender gap has converged to the higher West German level after reunification. By contrast, our estimates provide some cautious indications that the West German gap has narrowed over time.

Tying energy resiliance and digital upgradation of technology transformation of electric power system: Does financial flexibility matters?

As the energy sector undergoes rapid technological transformation, the resilience of electric power systems has become a focal point in the context of climate change and energy security. This paper examines the interplay between energy resilience and the digital upgradation of electric power systems in China, with a particular emphasis on the role of financial flexibility. Using panel data from 2005 to 2023 across 30 provinces in China, we employ the Generalized Method of Moments (GMM) model to investigate how financial flexibility—measured through capital access and adaptive financial strategies—affects the integration of digital technologies such as smart grids, renewable energy systems, and advanced monitoring infrastructures. Our findings demonstrate that financial flexibility significantly enhances the resilience of electric power systems by facilitating quicker adoption of digital technologies and enabling systems to better withstand external shocks, such as fluctuating energy demands and environmental stressors. The study offers policy insights, underscoring the importance of supportive financial mechanisms to accelerate the digital transformation and sustainability of China's energy infrastructure. This research contributes to the ongoing discourse on energy resilience by highlighting the critical role of financial flexibility in enabling technological advancements within the power sector.

A Critical Review of Overconfidence in Investment Decisions: A Bibliometric Analysis

The precedence of behavior bias-based studies with respect to investment is quite prevalent. Hence, a bibliometric analysis of available literature may lead to fresh topics in association with overconfidence bias. The literature ranging between 1970 and 2024 were scanned using terms related to overconfidence in finance as keywords to reach the related publications. After screening, 1327 publications related to overconfidence, 728 documents were identified. Martin Weber emerged as the most cited author. SSRN electronic journal, qualitative research in financial matters and review of behavioral finance have published most cited papers in the field of overconfidence and investment decision. The United States have published highest number of papers and citations, while Germany, India and China have also emerged as nations with highest citations. The United States of America has published highest number of papers with citations. Germany, India and China have also emerged as nations with highly citated papers. Considering year on year growth in the publications, more work may be expected from the arena of overconfidence, and authors of the present study have taken the liberty to suggest a few possibilities that can be explored. Studies with risk tolerance, after pandemic impact, experience and financial/tax literacy, loss aversion and availability bias-based studies may be considered by researchers in accordance to overconfidence.

Kewirausahaan Sosial dalam Perspektif Ekonomi Islam

Business is a movement to satisfy needs that are overwhelmingly popular by many gatherings. Business venture today has encountered a change in direction from one benefit to another situated to be a social mission. Social business venture/social business exercises viewed as an option in taking care of monetary issues social. As a country where most individuals are Muslims what's more, considering the inescapable development of social business venture, then Islamic financial matters accompanies a perspective on data about the connection between friendly business and the upsides of Islamic regulation. Social exercises business when seen from the execution program plays practically a similar part with the point of Islamic financial matters itself with an end goal to increment development and financial prosperity. This study utilizes the writing survey strategy, in particular by gather a few ideas that are ordered from the exploration factors then, at that point, consolidated into another logical review. Moreover, the reason for making This examination is to add a little reference to the investigation of Social Entrepreneurship in the viewpoint of Islamic Economics.

From sustainable development towards resilience: Does digital finance matter in enhancing ecological resilience?

AbstractDigital finance, as a representative of the digital economy, provides unprecedented opportunities for enhancing the adaptability and resilience of ecosystems. However, there is currently no literature that integrates digital finance and urban ecological resilience into the same research framework. In light of this, we utilize panel data from 2011 to 2019 to investigate the impact of digital finance on ecological resilience. Our results indicate that (1) Digital finance can effectively enhance ecological resilience, a conclusion corroborated by both theoretical frameworks and empirical evidence. Specifically, the coverage breadth and usage depth of digital finance can effectively enhance ecological resilience, while the digitization level has not shown a significant impact. (2) Green technological innovation, improvements in energy efficiency, and the agglomeration of producer services are identified as effective channels through which digital finance promotes ecological resilience. (3) The impact of digital finance on ecological resilience exhibits significant regional heterogeneity, with more pronounced effects observed in cities with advanced traditional financial systems, non‐resource‐based cities, and central cities. These findings will help policymakers better understand the relationship between digital finance and urban ecological resilience, and formulate targeted policies that leverage digital finance development to enhance ecological resilience.

Establishing the Effect of Democratic Governance on the Performance of Public Hospitals in Selected Counties in Kenya

Background The study critically evaluates the effect of democratic governance on the performance of public hospitals in Kenyan counties, following the 2010 Constitution that introduced devolved governance. This shift aimed to enhance local decision-making, accountability, and service delivery, specifically in the health sector, by empowering county governments. Democratic governance principles, such as transparency, accountability, and citizen participation are critical for addressing long-standing challenges like inequitable resource distribution, underfunding, and inefficiencies in public health services. This study explored the effect of democratic governance on the performance of public health hospitals in Kenya.  Methodology A mixed-methods approach was employed combining quantitative data from surveys with qualitative insights from interviews with county officials. Factor analysis was used to assess the relationship between democratic governance indicators - transparency, accountability, citizen participation, and public health service performance. Qualitative data, were gathered through interviews and content analysis of responses from county officials complemented the quantitative findings.  Results The study revealed that while democratic governance positively influences the performance of public hospitals in delivering health services in Kenyan counties, there are discrepancies in implementation across counties. Most respondents agreed that public participation and transparency in decision-making are strong, but the accessibility of financial records and county documents remains limited. Factor analysis confirmed that democratic governance significantly impacts health service outcomes, but qualitative findings indicated moderate transparency in financial matters, with only 8.3% of respondents rating transparency as high.  Recommendations To improve the performance of public hospitals in the delivery of health services, county governments should enhance the accessibility of public records, strengthen financial reporting and transparency, and foster deeper citizen engagement in governance. Improved oversight mechanisms and better governance practices are essential for leveraging the benefits of devolved governance.

When young muslims meets online lending: Examining legal awareness and assessment of lending platforms

This study aims to fill the gap in the literature by investigating the perspectives of young Muslims on online lending platforms. The article explores young Muslims' understanding of online lending based on Sharia principles and their perceptions of the ethical and legal dilemmas associated with online lending, which are closely linked to their religious and social knowledge. This study starts from the assumption that online lending involves various issues intricately connected to recent legal and financial advancements. Online lending encompasses not only economic and financial matters but also ethical, moral, and legal issues. The research findings indicate that the understanding of Muslim youth regarding the legal aspects of online lending in the study area is quite high. Data shows that 62% of the Muslim youth (student) respondents are knowledgeable about both Sharia compliance and national legal issues concerning online lending. However, the data also reveals that only approximately 60% of the respondents know how to handle legal issues involving online lending platforms. This implies that respondents need further education and information on these matters. Following data collection, we provided socialization and information on legal awareness and the evaluation of online lending platforms, which improved their understanding. The findings of this study highlight several potential directions for future research, such as assessing the effectiveness of legal awareness programs for digital financial services and P2P lending, and creating more effective methods for legal education. Additionally, future studies should expand to include different cities and regions and a broader range of respondents to achieve a deeper understanding of online lending and legal awareness.

THEORETICAL ASPECTS OF FORMATION FINANCIAL RESOURCES TO ENSURE SUSTAINABLE DEVELOPMENT

The article aims to study the mechanism of financing sustainable development to ensure a balanced approach to economic, social, and environmental development. The article examines the theoretical aspects of forming financial resources necessary for sustainable development. Sustainable development involves a balanced approach to economic growth, social well-being, and environmental protection, which requires adequate funding. The main conceptual approaches to defining sustainable development and financial resources are analyzed, focusing on their interrelationship. One of the key issues of the concept of sustainable development is the search for effective sources of financing for the implementation of sustainable development projects. The article considers the possibilities of attracting both public and private funds, including investments, grants, loans and other financial instruments. However, it also emphasizes the crucial role of international financial institutions and organizations in supporting national sustainable development strategies, highlighting the global nature of the issue and the need for international cooperation. The question of the distribution of financial resources between different economic sectors was studied to achieve the maximum effect from their use. Financial planning and management tools that can ensure optimal use of resources are considered separately. The positive dynamics of the growth of expenses for financing sustainable development in Ukraine are shown; however, a negative trend can be observed in terms of the direction of funds from 2022, namely, the volume of financing has decreased in all directions except for the allocation of funds for social protection and social security. The impact of financial resources on the implementation of sustainable development programs is analyzed, including issues of efficiency and transparency of their use. The importance of creating favorable conditions for attracting investments, developing partnerships between the public and private sectors, as well as the need to increase the financial literacy of the population was determined. This underscores the need for education and empowerment in financial matters, as it is a key factor in the successful implementation of sustainable development strategies. Based on the conducted research, it was concluded that the effective formation and management of financial resources is a key factor in the successful implementation of sustainable development strategies. It is recommended to develop a comprehensive system of monitoring and evaluating the effectiveness of the use of financial resources to ensure the achievement of sustainable development goals.

A Comprehensive Review of Tax Policy Changes and Tax Revenue in Kenya

Government revenue is crucial for fostering economic growth, especially in emerging economies where financial autonomy matters. Mobilising this revenue is key to achieving the United Nations Sustainable Development Goals (SDGs) focused on productivity and inclusive growth. This study analyses Kenya's tax revenue trends from 2001 to 2021, particularly the impact of tax policy reforms on the tax-to-GDP ratio. The findings reveal a significant increase in Kenya's tax revenue from 182,418 million shillings in 2001 to 1,692,662 million shillings in 2021, reflecting the effectiveness of tax reforms. It notes a shift towards direct taxes, which increased both in absolute terms and as a portion of total revenue, indicating improved compliance and administrative efficiency. Key reforms, such as the Tax Modernization Programme and the digital iTax system, enhanced revenue collection by improving compliance and tax base widening. While indirect taxes have traditionally dominated, the gap with direct taxes has narrowed, leading to a more balanced revenue structure. The study also highlights challenges, including political disruptions in 2007 and the economic effects of the COVID-19 pandemic in 2020, emphasising the need for resilient revenue strategies. Ultimately, the research concludes that continuous tax policy reform and improved administrative efficiency are essential for Kenya's fiscal sustainability and broader economic development goals.

Challenges and Opportunities in the Digital Age: A Case Study of Private University Libraries in Bangalore

The digitalization of library materials is now a widespread worldwide trend and a novel method for managing library collections, particularly in academic libraries. The paper explores many factors driving digitalization and provides insights into the process and criteria for selecting digitalization initiatives. Additionally, it addresses the many concerns and obstacles associated with the digitization process in academic libraries, including legal considerations and financial matters. This research investigates the evolving aspects of electronic resources and existing procedures related to their acquisition, selection, procurement methods, promotion, development policy, challenges, and future strategies. Additionally, it emphasizes the techniques used to obtain resources and the strategy for preservation. It also acknowledges the obstacles that hinder the digitization of academic libraries. Lastly, it concludes by stating that despite the challenges, in order to execute digitalization in a regulated and controllable way, information workers and librarians need to have both the practical abilities and the vision.

The efficiency of financial management systems in selected schools in the Amathole West education district in the Eastern Cape, South Africa

Managing school finances by school governing bodies (SGBs) in South African secondary schools has proven to be a challenge that has several negative consequences for education, infrastructure, and other resources. The purpose of this article was to assess the efficiency of financial management systems (FMSs) in selected schools in the Amathole West education district. A case study design and qualitative approach were employed in the study. Purposive sampling was used to select SGB members from 2 schools in the district. The research participants were interviewed using face to face and telephonic interviews. We found that while there is understanding and alignment of financial systems by SGBs, insufficient or limited financial resources, inconsistencies in dealing with financial management matters, and government deposit allocation delays, SGBs’ level of education and bank operations pose challenges and lead to the misalignment of school operations. Based on the study, we suggest that SGBs adopt strategies to enhance the financial management of schools, namely monitoring and evaluation, the appointment of qualified SGB members, increased training, a stipend system for SGBs and timeous deposit of funds to schools.

Mental health and financial risk attitudes: Panel data evidence from Australia

AbstractWe examine the impact of mental health on financial risk attitudes using panel data from Australia. In an instrumental‐variables framework that tries to address the endogeneity of mental health, we find that poor mental health can lead to a higher willingness to take risks. Specifically, a standard deviation decrease in mental health leads to a 10.3 percentage point increase in the likelihood of taking financial risks. This finding remains robust across various sensitivity checks and highlights the significant role that mental health plays in risk‐taking preferences in financial matters.

The systemic position of the local government treasurer in the terms of labor law, public finance law and the act on local government employees

Pursuant to the provisions of the Act of August 27, 2009 on public finances, the chief accountant of a public finance sector entity is an employee to whom the manager of the entity entrusts duties and responsibilities in the scope of keeping the entity's accounting, executing cash orders, and performing preliminary control of the compliance of economic operations. and financial with the financial plan, completeness and reliability of documents regarding economic and financial operations. Therefore, entrusting the function of an accountant consists of two elements: entrusting duties and, consequently, responsibility in this respect. The chief accountant is therefore an employee of the entity. The provisions of both the Act on Public Finance, Local Government Employees and the Labor Code apply to it. Recognizing the relevant legal regulations is important when answering questions and problems related to the performance of the function of treasurer (chief accountant). The treasurer's actions are a consequence of the statutory tasks assigned to him and the function entrusted by the unit manager. The function of treasurer of a commune, district or voivodeship is an obligatory function. The head of the unit cannot entrust the tasks specified in the Public Finance Act to a functional employee other than the treasurer. Exceptions in this respect cannot lead to the transfer of financial matters to another organizational unit within the office structure.

Rise From the Ashes: The Modeling–Compensation Hypothesis Applied to Parent Financial Socialization

According to family financial socialization theory and previous research, parent financial modeling (i.e., children learning financial matters by observing parental behavior) is positively associated with emerging adults’ financial behaviors and financial outcomes. However, qualitative evidence and the modeling–compensation hypothesis suggest that emerging adults can intentionally compensate for negative modeling (i.e., those whose parents performed bad financial behaviors can intentionally enact good behaviors themselves). Using a diverse sample of 4,182 US emerging adults, this study is the first to quantitatively explore the modeling–compensation hypothesis in the context of parent financial modeling. We identified four groups: Intergenerational Financial Flourishers (received positive modeling and were good money managers; 56.6%), Financial Phoenixes (received negative modeling and were good money managers; 21.6%), Socialization Squanderers (received positive modeling and were bad money managers; 15.9%), and Intergenerational Financial Flounderers (received negative modeling and were bad money managers; 5.9%). In terms of financial outcomes (financial independence, financial satisfaction, and financial distress), the Intergenerational Financial Flourishers were the best off, followed by the Financial Phoenixes. Thus, while high-quality parent financial modeling is ideal, there is hope for those who received negative modeling, and financial educators and practitioners can help.

PELATIHAN METODE PENELITIAN KOMPREHENSIF BAGI KARYAWAN RUMAH SAKIT DI BAWAH YAYASAN JAMAAH HAJI KLATEN

The training program on comprehensive research methods for entities under the Jamaah Haji Klaten Foundation aims to equip participants with theoretical and practical skills for conducting applied research to address institutional problems. The training materials comprise content ranging from basic to medium levels. The chosen topics mostly relate to organizational and financial matters, which are most suitable for their organizational context. Participants are obliged to conduct their own research under the supervision of instructors. Five research proposals have been submitted and are currently under supervision.. Keywords: research methods, applied research, organizational context, financial context

Bridging Compassion and Commerce: Veterinarians’ Ethical Dilemmas in Providing Care for Homeless Animals

Abstract This research seeks to expand the in-depth knowledge on the ethical dilemmas veterinary doctors face while providing care for homeless animals, brought to clinics by volunteers. Fifteen semi-structured interviews were conducted with veterinary doctors in Latvia. The study reveals the complex emotions involved in the interactions between veterinarians and volunteers, as well as the factors affecting a veterinarian’s decision made about homeless animals. The results show a positive attitude towards the altruism of volunteers, but significant concerns around financial matters and the use of animals for fundraising. Debates about charging for stray care highlight potential disagreements between veterinarians and activists. Veterinarians prioritise education and advocacy, providing compassionate assistance to pet owners. Societal expectations strongly shape how they perceive their role, emphasising the reduction of animal suffering and the improvement of animal welfare.

Financial Management Practices and Financial Accounting Standards Compliance: Case of MSMEs in the Northern Philippines

Starting a business appeared simple; however, many businesses fail to maintain their operations in the long run. Based on this issue, this study explores the depth of understanding and knowledge of MSME business owners in Ilocos Norte, Philippines, regarding compliance with Financial Accounting Standards (FAS) and Financial Management Practices (FMP). Additionally, it seeks to determine the relationship between FAS and FMP and the success of businesses. The methodology used was a descriptive and correlational design. The data was gathered from 379 MSMEs through a survey questionnaire. A 4-Likert scale was used to analyze and interpret the results. Also, researchers used the International Business Machines Statistical Package for the Social Sciences (IBMSPSS), specifically regression analysis, to correlate the financial performance of the MSMEs to their financial management practices and compliance with the financial accounting standards. The study revealed that micro, small, and medium enterprises (MSMEs) in Ilocos Norte maintain a moderate level of implementation of financial management practices and compliance with financial accounting standards, concentrating on the Statement of Comprehensive Income. The study also revealed a significant relationship between financial management practices, compliance with financial accounting standards, and business performance, leading to success. It is justified that effectively and efficiently managing financial matters can contribute to the enhancement of business performance.

Unaffordable, untrustworthy, or unnecessary? Reasons for foregoing building, home contents, and comprehensive car insurance in disaster‐prone Australia

AbstractIn Australia, building, home contents, and comprehensive car insurance facilitate the accumulation of assets associated with rational, responsible citizenship while promising protection in case of events such as fire, flooding, car accident, or theft. Yet many Australians lack these insurance products, risking exposure to devastating financial losses when disaster strikes. This article compares the findings of online surveys of insured and uninsured Australians and explores the factors driving some to forego insurance coverage. Our findings show that inability to afford premiums is a major driver of noninsurance in Australia, particularly for people with low levels of disposable income and assets, or those living in areas affected by rising disaster risk. Yet the decision to forego insurance is also influenced by attitudes to financial matters. Australians who forego insurance have lower levels of trust in insurance and are less likely to consider themselves under a social obligation to be insured. However, contrary to portrayals of the uninsured as risk‐takers, the decision to forego coverage does not appear to be driven by lesser risk aversion among uninsured Australians relative to those who do purchase building, home contents, and comprehensive car insurance policies.

Religious Cooperation between Thailand and Sri Lanka in the 19th Century: A Study Based on Exchanged Pāli Letters

When it comes to relations between Thailand (Siam) and Sri Lanka (Ceylon), the Buddhist connections between the two countries are often discussed and are highly valued. Communications between Thai and Sinhalese monks can be traced back to the 13th century: the Sukhothai era. These communications were then continuously maintained in the Ayutthaya era and have been up until the present day. Despite being situated far from each other and being separated by the sea, the people in these countries have been interacting through maritime routes and cooperating with each other regarding religious, cultural, financial, diplomatic, and political matters for centuries. The continuous interactions between the two came to a halt in the 18th century due to political instability in both countries. Only in the middle of the 19th century did Buddhists from the two countries resume their travels and interactions, rebuilding their bilateral relations and cooperation. There are very few studies that provide information regarding the religious cooperation between Siam and Ceylon in the 19th century. Religious cooperation between the two countries in the 19th Century has never been thoroughly studied and presented in detail. The purpose of the research paper is to investigate how Buddhists in these two countries cooperated with each other to achieve continuity and solidarity in Theravada Buddhism in both countries. We will address this question by analyzing the available data, which can mainly be found in the form of letters written in the Pāli language exchanged between Buddhists in the two countries. These letters have been published in Pālisandesāvalī in Sri Lanka and in Samaṇasāsana in Thailand.