Financial Experience Research Articles

Financial teaching by parents and financial education at school or workplace

This study investigates the differential roles of financial socialization within the family versus fi- nancial education at school or the workplace, using data from a representative sample of 25,000 Japanese individuals. The results indicate that different platforms may play different roles. While the adults’ short-term financial behaviors, which involve regular feedback and immediate consequences for deviation, are primarily related to their parent’s financial advising in childhood, long-term finan- cial behaviors, which require complex planning and decision-making, are primarily related to finan- cial education received at school or the workplace. The results also suggest the benefits of accumulating financial experiences and education in different stages.

E22 Experiences among parents caring for children with juvenile idiopathic arthritis at a tertiary referral hospital in Kenya

Abstract Background Juvenile idiopathic arthritis (JIA) is a highly morbid disease associated with significant rates of preventable permanent damage. The burden and distribution of JIA in African countries vary compared with data across the globe. High-income countries have shown a higher prevalence of JIA compared with low-income countries. Recent studies done in Zambia and Nigeria demonstrated contrasting results in the distributions of the subtypes of JIA within the African continent and those seen in Western countries. Most of these studies were quantitative in nature, looking at health related quality of life within this cohort of patients. Studies done looking at the parental experiences in caring for children for JIA have been reported in high income countries. No studies have been reported within our region to assess the impact of JIA has on parents/guardians caring for children suffering from JIA. Studies from high income countries have shown negative impacts on the social, emotional and financial well-being of guardians caring for children with JIA. We aim to look at impact JIA has on guardians caring for children affected within our context. A few studies in high income countries reported that parental experiences and perceptions play a big role in the long term wellbeing of the child. It still remains unknown the impact JIA might have within our population. Methods This will be a phenomenological type of qualitative study design. 18 potential participants (below 16 years) with a confirmed diagnosis of JIA will be purposively selected from the Kenya pediatric rheumatology registry database (KAPRI). Guardians of patients who meet the inclusion criteria will be scheduled for an introductory meeting on specific days of the week in line with their pediatric rheumatology appointment and in the presence of the primary investigator and the rheumatology consultant. Parental experiences will have been conceptualized using four major indicators: social experience, financial experiences, psychological experience, and medical and treatment-related experiences which impact their overall quality of life. These four concepts have been operationalized using various indicators which were retrieved from literature. The interview guide questionnaire was informed by the conceptual framework which was developed from extensive literature review findings on lived experiences of patients with various health conditions. The concepts in the framework will also serve as the pre-determined themes guiding the deductive thematic data analysis. We shall carry out a deductive thematic data analysis. Hence pre-determined themes extracted from the conceptual framework which was developed from extensive literature review findings on lived experiences of patients will be used in analyzing the data. At the same time, any other new emerging themes will be considered. The transcribed data will be analyzed using the Max for Qualitative Data Analysis (MAXQDA) software program version 2022. Results This project is in its preliminary data collection phase and enrolment of participants is ongoing at the Aga khan University Hospital Nairobi after approval by the Institutional Scientific and Ethical Review Committee (ISERC). Conclusions The results in this study will open avenues for further bigger studies to help promote patient centered care. The results in this study will depict the impact of JIA within our context, as studies done outside of Africa cannot be extrapolated because of the differences in social, economic, and cultural standards and capabilities of practice. Currently, the paucity of data from Africa makes it difficult to predict the burden and impact that JIA pauses on families. This study being a qualitative design, will give an in-depth view on the impact the disease has on the families compared with quantitative studies looking at the quality of life which scarce and despite their values, have limitations such as the inability to include social and cultural aspects and emotional aspects of children's lives and their families and the meaning of life.

Board of Directors, Audit Committee and Firms’ Performance

This study explores the different attributes of audit committees and boards of directors' effect on firm performance. Mainly the board’s size and independence and the audit committee’s employment, size, independence, financial experience, and frequency of meetings. This paper also talks about resource dependency theory which considers that. Non-independent directors have a positive effect on firm performance. On the contrary, agency theory suggests that the more independent the board is, the better the performance. Many accounting scandals and worldwide failures in corporate governance have occurred in the past few decades, affecting stakeholders and taking a heavy toll on national and global economies. After many infamous corporates, the United States passed the Sarbanes-Oxley Act (SOX), which acted to heighten the responsibilities of the board of directors in corporations, promotes fairness to both shareholders and stakeholders alike by enforcing listed companies to employ independent, knowledgeable, and proactive audit committees and directors and ultimately set the utmost importance on the protection of investors and stakeholders.  Taking a sample of 96 companies, the results show that a more extensive and independent board positively affects business results, and the same applies to the implementation of an audit committee. However, our results found no link between the different characteristics of audit committees with firm performance. The findings above give us insight into how companies’ governance operates.

Analysis of Digital Bank Services in Indonesia Based on Consumer Perception

This study aims to find out that Financial Performance in a company that provides Digital Bank services can be influenced by consumer perceptions represented through the variables of Customer Experience, Customer Satisfaction and Customer Loyalty. The data were collected using a survey aimed at users of Digital Bank services in Indonesia which was then tested statistically by analysis of the Outer Model and the Inner Model using Partial Least Square (PLS). Unlike other studies, this study used NPS (Net Promoter Score) as an indicator of Financial Performance Customer Experience, Customer Satisfaction and Customer Loyalty. The results of the study showed that Customer Experience, Customer Loyalty and Customer Satisfaction had a positive effect on Financial Performance, Customer Experience had a positive effect on Customer Loyalty and Customer Satisfaction. This study also found that Customer Loyalty and Customer Satisfaction mediate the influence of Financial Experience on Financial Performance.

Analysis of Digital Bank Services in Indonesia Based on Consumer Perception

This study aims to find out that Financial Performance in a company that provides Digital Bank services can be influenced by consumer perceptions represented through the variables of Customer Experience, Customer Satisfaction and Customer Loyalty. The data were collected using a survey aimed at users of Digital Bank services in Indonesia which was then tested statistically by analysis of the Outer Model and the Inner Model using Partial Least Square (PLS). Unlike other studies, this study used NPS (Net Promoter Score) as an indicator of Financial Performance Customer Experience, Customer Satisfaction and Customer Loyalty. The results of the study showed that Customer Experience, Customer Loyalty and Customer Satisfaction had a positive effect on Financial Performance, Customer Experience had a positive effect on Customer Loyalty and Customer Satisfaction. This study also found that Customer Loyalty and Customer Satisfaction mediate the influence of Financial Experience on Financial Performance.

Analysis of Digital Bank Services in Indonesia Based on Consumer Perception

This study aims to find out that Financial Performance in a company that provides Digital Bank services can be influenced by consumer perceptions represented through the variables of Customer Experience, Customer Satisfaction and Customer Loyalty. The data were collected using a survey aimed at users of Digital Bank services in Indonesia which was then tested statistically by analysis of the Outer Model and the Inner Model using Partial Least Square (PLS). Unlike other studies, this study used NPS (Net Promoter Score) as an indicator of Financial Performance Customer Experience, Customer Satisfaction and Customer Loyalty. The results of the study showed that Customer Experience, Customer Loyalty and Customer Satisfaction had a positive effect on Financial Performance, Customer Experience had a positive effect on Customer Loyalty and Customer Satisfaction. This study also found that Customer Loyalty and Customer Satisfaction mediate the influence of Financial Experience on Financial Performance.

Financial Nexus: Empirical Analysis of Knowledge, Income, and Behavior

This study investigates the relationship between financial knowledge, financial experience, income, lifestyle, and the financial behavior of employees in a financial institution. A sample of 37 employees from PT. Pegadaian CP Mega Legenda Batam was utilized. The research employed a saturated sample method, and validity and reliability tests were conducted for instrument trials. The findings indicate that financial knowledge exerts a positive and significant influence on financial behavior, while financial experience, income, and lifestyle do not individually impact financial behavior significantly. Moreover, when considered collectively, financial knowledge, financial experience, income, and lifestyle collectively exhibit a positive impact on financial behavior. These variables collectively account for 41.8% of the variance in financial behavior, with the remaining 58.2% attributed to unexamined factors. This study provides insights into the complex relationship between employee characteristics and financial behavior, highlighting the need for targeted interventions to enhance financial literacy and decision-making among employees, thereby fostering improved financial well-being.
 Highlights:
 
 Financial knowledge positively influences employee financial behavior.
 Financial experience, income, and lifestyle do not significantly affect financial behavior individually.
 Collectively, financial knowledge, experience, income, and lifestyle have a positive impact on financial behavior.
 
 Keywords: Financial Knowledge, Financial Experience, Income, Lifestyle, Financial Behavior.

Racial Disparities in COVID-19 Experiences Among Older Adults With Disabling Conditions.

This paper examines the health, work, and financial experiences of older adults with disabling conditions during the COVID-19 pandemic. It also explores the role of county- and state-level conditions in these experiences. Using data from the 2020 Health and Retirement Study, we estimated regression models to assess differences in outcomes between those with and without disabling conditions and by race/ethnicity. We used multilevel modeling to assess whether and how county or state factors might be associated with the differences in these effects. Older adults with disabilities were more likely to report experiencing financial hardships, delaying health care, and experiencing effects on work than those without disabilities; these differences are heighted between race and ethnicity. Older adults with disabilities were more likely to live in counties with greater social vulnerability. This work underscores the importance of developing a robust, disability-inclusive public health response that protects older adults.

The Effect of Financial Knowledge, Financial Experience, and Locus of Control on Financial Management Behavior at Batik Msmes in Tuban

The global financial recession that occurs in Indonesia is now one of the phenomena that can reduce the stamina of the national economy. With the recession in 2023, it will have a negative impact on MSMEs in Indonesia. MSMEs have a positive influence on the Indonesian economy and regional economy, one of which is Tuban Regency which is a batik producing area, but its existence is still not widely known to people. In opening a business such as batik MSMEs, knowledge, experience, and locus of control are needed, in managing the finances of these batik MSMEs. This study is intended to identify how the influence of financial knowledge, financial experience and locus of control on financial management behavior in Batik MSMEs in Tuban. This research method is quantitative by taking a sample of 95 respondents and the distribution of this questionnaire is assisted by Google Form. The samples in this study were taken using probability sampling techniques. The sample consisted of respondents from the Batik MSME Center in Tuban. The data used in this study are primary data and secondary data. The analytical techniques used in this study are (PLS) with validity tests, reliability tests and hypothesis tests. The results of this study found that the variables of financial knowledge, financial experience, and locus of control had an effect and were significant on the variables of financial management behavior. Financial knowledge plays an important role in the financial management behavior of Batik MSMEs. The higher an individual's understanding of financial knowledge, the higher the level of financial management behavior, so that financial knowledge has a positive influence on financial management behavior in Batik MSMEs in Tuban.

ChatGPT, a Product of AI, and its Influences in the Business World

Specifically the study analyzes how ChatGPT AI is transforming business operations and enhancing customer experience in customer service, e-commerce, healthcare, finance, marketing, and developer business sectors. Using a comprehensive literature review approach.The study explores the implications of ChatGPT AI for businesses, including its potential to improve efficiency, reduce costs, and enhance competitiveness. Additionally, ethical and legal considerations surrounding the use of ChatGPT AI in business operations are evaluated, including issues related to data privacy, bias, and transparency.The study provides insights into future directions for the application of ChatGPT AI in business and the potential impact of this technology on various business sectors. The objective is to provide a comprehensive review of the influence of ChatGPT AI on businesses, its potential benefits, and challenges for businesses looking to adopt this technology. Overall, this study highlights the importance of considering the benefits and limitations of AI adoption in businesses, as well as the ethical and legal implications of its use.

A Comparative Study of the Investment Behavior of Financial Asset Investors

In China's capital market, investors can be divided into two categories: individual investors and institutional investors. Different from foreign capital markets, in China's capital market, individual investors account for a relatively high proportion of investors, China's market is basically dominated by individual investors, retail characteristics are obvious. Due to the short establishment of China's capital market, it is not a completely effective market, the entry threshold is low, the education of investors is not perfect, the investment literacy and investment knowledge accumulation of individual investors is not high enough, and due to the existence of investor cognitive bias, individual investors are often in a weak position in the capital market, and the investment returns of individual investors are often lower than those of institutional investors. Therefore, the research in this paper is aimed at the investment behavior of individual investors. The research includes the influence of individual characteristics of investors on investment decision-making behavior, the effect of Internet media use on urban and rural households' financial investment behavior, the regional heterogeneity of residents' choice of financial assets, the role of risk aversion and subjective well-being on family participation in risk financial markets, and the influence of family age structure, health status, financial experience, financial literacy and trust on household financial asset allocation.

Exploring the Implication of ChatGPT AI for Business: Efficiency and Challenges

This empirical study aims to examine the impact of ChatGPT AI on various business sectors, evaluating its benefits and challenges. Specifically, the study analyzes how ChatGPT AI is transforming business operations and enhancing customer experience in customer service, e-commerce, healthcare, finance, marketing, and developer business sectors. Using a comprehensive literature review approach, this study draws on relevant academic articles to identify and analyze the key applications of AI in the business sector, the benefits realized, and the challenges faced in adopting this technology. The study explores the implications of ChatGPT AI for businesses, including its potential to improve efficiency, reduce costs, and enhance competitiveness. Additionally, ethical and legal considerations surrounding the use of ChatGPT AI in business operations are evaluated, including issues related to data privacy, bias, and transparency. The study provides insights into future directions for the application of ChatGPT AI in business and the potential impact of this technology on various business sectors. The objective is to provide a comprehensive review of the impact of ChatGPT AI on businesses, its potential benefits, and challenges for businesses looking to adopt this technology. Overall, this study highlights the importance of considering both the benefits and limitations of AI adoption in businesses, as well as the ethical and legal implications of its use.

The Effect of Financial Experience and Economic Rationality on The Economic Decision of Household Women in Jambi City Mediated By Economic

This study aims to determine the effect of financial experience and economic rationality on the economic decisions of Jambi city housewives mediated by economic literacy. This study uses a quantitative method with a type of explanatory research. The research sample is 379 housewives in the districts of Pelayangan and Danau Teluk. Data analysis uses Structural Equation Modeling (SEM) with smartPLS 3.0 software. The results of the study show 1) Financial Experience Has a Positive and Significant Influence on the Economic Decisions of Housewives, 2) Economic Rationality Has No Influence and is Not Significant on the Economic Decisions of Housewives, 3) Economic Literacy Has a Positive and Significant Influence on the Economic Decisions of Housewives, 4) Financial Experience Has a Positive and Significant Influence on the Economic Literacy of Housewives, 5) Economic Rationality Has a Positive and Significant Influence on the Economic Literacy of Housewives, 6) Financial Experience Has a Positive and Significant Influence on the Economic Decisions of Housewives Through Economic Literacy as a Mediating Variable, 7) Rationality Economics Has a Positive and Significant Influence on the Economic Decisions of Housewives Through Economic Literacy as a Mediating Variable. The implications of the research: 1) Economic literacy strengthens the effect of financial experience and economic rationality on economic decisions, 2) Housewives need to improve their financial experience, good economic rationality, and economic literacy so they can make the right economic decisions. This increase is necessary because the economic situation is sometimes less stable and difficult to predict.

Micro and Small Enterprises in Developing Countries: What Hampers Growth?

Objective: The current study aims to know the most challenges facing the Micro and Small Enterprises (MSEs) sector in Yemen.Methodology: The present study is descriptive, in which the secondary data were obtained from books and published research papers and theses; however primary data were obtained from the owners of Micro and Small Enterprises (MSEs) in Yemen through a self-administered questionnaire. Originality/Relevance: This study is one of the few studies that dealt with the problems and challenges facing the small projects sector in Yemen. This sector is one of the most important economic components of any country, but there is a great neglect of it in research, so this study seeks to shed light on the problems that hinder the growth of this sector. A country of under-studied subjects of high importance.Results: This study concludes that Micro and Small Enterprises (MSEs) are important to most economies, as they often provide jobs and contribute to economic growth. However, MSEs also often face several challenges that can limit their ability to succeed and grow. Some of the most common challenges facing MSEs include the ongoing conflict and economic crisis, limited access to financing, lack of managerial and financial experience, The COVID-19 pandemic, etc. The findings of this study could lead to several solutions and recommendations to address the problems facing the MSEs sector in Yemen.

Financial responsibility of the state: a comparative analysis of the European countries’ approaches in peacetime and wartime

The aim of the article was to unveil the essence of the financial responsibility of the State within a comparative analysis of the approaches of European countries, in times of peace and war. The complexity of the subject led to the complex application of research methods, in particular: dialectical, systemic, comparative, synergistic, normative and logical analysis, synthesis. The practice of the implementation of State responsibility in some European and Asian countries was studied and it was concluded that it had been established particularly in times of peace. However, it is argued that such experience of public finance could also be useful in the Ukrainian realities of reconstruction and recovery. Ukrainian legal instruments concerning the financial responsibility of the state were also examined and the respective court decisions were researched. Among other things, it is concluded that, the financial liability of the subjects of public administration and their officials or employees is to be understood in terms of compensation of damages for wrongful acts in the form of decisions or actions that led to infringement or disregard of the rights and legitimate interests of the payers.

PENGARUH LITERASI DAN PENGALAMAN KEUANGAN TERHADAP PENGELOLAAN KEUANGAN MELALUI NIAT BERPERILAKU PADA PENGRAJIN KASUR BUSA KECAMATAN PAKISAJI KABUPATEN MALANG

In developing a business, financial management of MSMEs plays an important role. This study aims to examine the effect of financial literacy and experience on the financial management of foam mattress craftsmen, as well as to examine whether behavioral intention is a mediating variable between financial literacy and experience with financial management. The survey was conducted on foam mattress craftsmen using total sampling technique, and the data were analyzed using Path Analysis. The results showed a significant positive influence between financial experience and financial management behavior. In addition, this study proves that financial literacy has an indirect effect on financial management through behavioral intentions. The managerial implications of this study emphasize the importance of having good financial experience in improving financial management. In addition, this study provides new insights that individuals with high financial literacy also need to have good Financial behavioral intentions to manage their business finances more carefully.

BEHAVIORAL ACCOUNTING: THE BEHAVIORAL IMPACT OF FISHERIES SOCIAL ASSISTANCE RECIPIENTS OF ARU ISLANDS REGENCY WITH A PLANNED BEHAVIOR THEORY APPROACH

This study aims to determine how the impact of accounting behavior related to financial attitudes, financial literacy, and financial experience of recipients of fisheries social assistance funds of the Aru Islands Regency Government using the Theory of Planned Behavior (TPB) on fishermen groups. The method in this study is qualitative descriptive research with a phenomenological approach, the approach in this study using phenomenological methods is trying to understand the meaning of various events and human interactions in certain situations. The results of this study suggest that financial attitudes, literature, and experience can be the drivers of financial behavior in Planned Behavior Theory (TPB) is a continuation of the theory of reasoned action required by the limitations of the original model of behavior in which limited humans will control financial behavior. The contribution of good research to the Theory of Planning Behavior (TPB) is to develop attitudes, literacy, and experience in managing the finances of fisheries social assistance funds by fishermen groups of the Aru Islands Regency Government so that the reporting of social assistance fund accountability has value and is systematized by the nature of the accountability report of the Aru Islands Regency Government.

Divine Relations as a Basis of Subjective Social Status During Later‐Life: Direct and Moderating Effects

AbstractEarly social theorists, including W.E.B Du Bois, recognized the importance of religion and its links to inequality, particularly in how religious vocabularies are attuned to frictions with inimical concrete social and political realities. We apply these ideas to research on the intersection of religious beliefs and economic deprivation, examining how beliefs in divine relations not only structure subjective social status (SSS), but also the association between financial stress and SSS. Analyses of data from the Caregiving, Aging, and Financial Experiences Study—a national study of Canadian older adults (N = 4010)—show that financial strain is associated with lower SSS, but better divine relations (higher support from a divine power and lower troubled relationships with a higher power) benefit SSS. Divine support also attenuates the association between financial strain and SSS. This research suggests a Du Bosian “double consciousness,” in which relations with a divine power serve as a basis for individual conceptualizations of social status that run counter to predominant narratives based on economic standing. We suggest directions for future research to explore the nuances of SSS within the religious context informed by a Du Boisian mode of inquiry.

ANALISIS FAKTOR-FAKTOR YANG BERPENGARUH PADA PERILAKU MANAJEMEN KEUANGAN KELUARGA (STUDI PADA RUMAH TANGGA DESA KALIANGET TIMUR)

The behavior of family financial management is fundamental to be considered by household financial managers. Finance is one of the most critical factors in the family. Family finance actors must be wise in applying it in everyday life. This study aims to determine family financial management carried out by the community. This study uses quantitative methods. The sampling technique in this study uses the accidental method. The independent variables used in this research are financial literacy, financial attitude, financial knowledge, financial experience, education level, and personality. The dependent variables used in this research are the behavior of family financial management. This study uses multiple linear regression analysis. The results of the research that has been carried out state that the variables that are significantly related are financial knowledge and financial experience. At the same time, financial literacy, financial attitude, education level, and personality are unrelated. Family financial management is influenced by financial knowledge and financial experience. This can reveal that good financial knowledge and financial experience can manage family finances properly.

STOCK MARKET ANALYSIS OF ELECTRONIC FINANCIAL MARKETS AND ADOPTION OF CRYPTOCURRENCIES, BLOCKCHAIN APPLICATIONS OF THE ECUADORIAN FINANCIAL SYSTEM AND ITS LEGISLATIONN

The present work of carrying out a Stock Market Analysis of the Financial Markets for the Adoption of Cryptocurrencies and Blockchain Applications in the Ecuadorian Financial System, which will allow to have an overview of the situation in which the population finds itself with respect to the use and knowledge of cryptocurrencies and the investments that can be made with them. The research was carried out through the application of surveys and interviews aimed at users of the financial system and managers of banks and cooperatives who could make a judgment based on their experience and knowledge in finance. As a result of them, it was determined that the Ecuadorian population does not have the necessary knowledge to be able to start using cryptocurrencies on a daily basis, and that users of the financial system are accustomed to traditional financial culture, so it would require a change and update at the technological level as well. The proposal contains information on the most used cryptocurrencies and the suggestion of which would be the best cryptocurrency to adopt when the society was ready for it, with the necessary reasons and justifications on the decision taken. Therefore, the present research work may serve as a foundation for possible future research to be carried out further so that this transition can be developed in a successful manner and at the right time.