Financial Knowledge Research Articles

Peran Fasilitator Pendamping dalam Meningkatkan Literasi Keuangan Nasabah BTPN Syariah Pucuk

The role of the companion facilitator in enhancing the financial literacy of customers at BTPN Syariah Pucuk branch is crucial. This research aims to examine this role and its impact on customers' financial literacy. Using a qualitative method with a case study approach, data were collected through in-depth interviews, observations, and document analysis. The findings indicate that the companion facilitator significantly improves customers' financial knowledge and skills, aiding them in making better financial decisions.

Evaluation of the Reliability and Validity of the Retirement Knowledge Scale (RKS).

The Retirement Knowledge Scale (RKS) consists of 10 questions that assess three aspects of financial planning for retirement: reflection about retirement plans, engagement with information on retirement preparedness, and evaluation of retirement preparedness. The RKS was administered to 1350 adults 50 and older in the Health and Retirement Study (HRS) as an experimental module for the 2020 wave along with the "Big Three" questions of financial literacy that assess knowledge about inflation, interest rate, and risk. Results of the study provide support for the reliability of the RKS scales in the full sample and separately for non-retired and retired adults. We also find support for the construct validity of the RKS based on its associations with the Financial Literacy Score (i.e. Big Three questions), retirement status, sociodemographic characteristics, financial outcomes and planning horizons, personality traits, and satisfaction with life and other related outcomes. We find that better RKS scores are correlated with higher objective financial knowledge and levels of education, being retired, better financial outcomes (value of financial assets, probability of leaving a 10,000 bequest, and IRA/Keogh, stock, checking and CD account balances), longer financial planning horizon, being extrovert, open and conscientious, and higher levels of satisfaction with life, income, personal financial situation, and health. We also conduct a multiple regression analysis that provides support for the validity of the RKS. The RKS is useful as it provides new information about knowledge gaps in financial planning for retirement.

The influence of fintech and financial knowledge on sustainable business success: exploring the mediating effect of financial accessibility in Indian

PurposeThe present study aims to investigate the effects of sector 4.0 technologies, particularly Financial Technology (Fintech), on Sustainable Business Success (SBS) within the Indian garment sector. It aims to analyse the impact of Fintech Integration (IF) and Extent of Financial Knowledge (EFK) on sustainability performance, with a focus on understanding the mediating effect of Financial Accessibility (FA) in this relationship.Design/methodology/approachThe study utilizes covariance-based structural equation modelling (CB-SEM) to analyse data collected from 683 enterprises in the Indian garment sector. The theoretical frameworks of Ecological Modernization Theory (EMT) and the Resource-Based View are employed to guide the research.FindingsThe investigation reveals that Fintech Integration (IF) and environmental friendliness knowledge significantly impact the promotion and maintenance of sustainability within the Indian garment sector. Moreover, the study highlights the moderating influence of financial Accessibility (FA) on the associations among fintech integration, Extent of Financial Knowledge, and sustainability attainment. Furthermore, sensitivity studies demonstrate that improved financial access positively affects a firm’s sustainability performance.Originality/valueThis study contributes to the existing literature by addressing significant knowledge gaps and offering practical insights for managers and policymakers in the Ready-Made Garments (RMG) industry. It provides a comprehensive approach that integrates fintech and financial expertise to enhance credit accessibility and foster long-term viability for enterprises within the Indian garment sector. The originality lies in its holistic perspective, combining technological integration with the Extent of Financial Knowledge to drive sustainability in a specific industrial context, thus providing valuable guidance for industry stakeholders.

Pendampingan Pengelolaan Keuangan dan Manajemen Usaha Pada Bisnis Rumah Makan Daerah Cikarang Selatan

A business can survive if it has good financial knowledge. Financial management and business knowledge have always been the foundation. Along with the times, especially in the digitalization era, it is unfortunate when business people ignore the financial aspects and optimization of their business management. When the company's human resources are able to adjust to the changing times in industry 4.o, then financial management can be done. The purpose of this activity is to assist and provide consultation to business owners in one of the nasi padang restaurants in Cikarang. We come from an environment where business people do not know much about financial education and how to build a business so that it can grow and adapt to digital developments, as well as the lack of training and education provided for business people, especially for micro businesses. The focus of this community service activity is to assist business actors from business management to finance, so as to maximize the ability of their human resources, which is very much needed by business actors who have high competitiveness in this digital era. In the end, it is expected to provide solutions that allow business actors to optimize all business activities in increasing profits and sales, so that the business can survive and develop.

Beyond Intuition: The Role of Financial Knowledge in Navigating Investments in Emerging Markets

Over the last century, global stock markets have crashed multiple times, leading to bankruptcy and unemployment and making individuals highly cautious about investing. Hence, individual investors in developing markets are highly prone to behavioural biases in their investment decisions, which influence their investment experience. The objective of this study is to examine the relationships between behavioural factors and investment experience, as well as the moderating effect of financial knowledge on individual investors in Bangladesh. Data was analysed using the partial least squares structural equation modelling (PLS-SEM) technique. The results revealed that behavioural factors such as anchoring, gambler’s fallacy, social interaction, and locus of control significantly influenced individual investors’ investment experiences. Moreover, financial knowledge had a moderating effect on these relationships. The study has important implications for investors, as it highlights the potential pitfalls of behavioural factors and the importance of financial knowledge in investors’ investment experience. The study’s findings imply that the government should develop new market opportunities through innovative products and take the necessary steps to incorporate regulations that will offer investors a better market experience.

Pengaruh Literasi Keuangan Terhadap Minat Masyarakat Dalam Menggunakan Pinjaman Online Pada Masyarakat Kota Kupang

Online loans are currently increasingly popular among the public with the development of technology. The sophistication of this technology has had a very significant impact on the survival of society, which will make people more consumptive through the arrival of electronic or non-cash means of payment, without cash this will create impulsive shopping behavior where someone buys products without planning. This research aims to analyze the influence of financial knowledge on online loan interest behavior, to determine the influence of financial behavior on online loan interest and to determine financial attitudes towards online loan interest in the Kupang city community. This research uses primary data by distributing questionnaires online to 100 respondents in Kupang City who are online loan users. This research uses non-probability purposive sampling. Data analysis in this research uses multiple linear regression analysis with the results of the research showing that financial knowledge, financial behavior and financial attitudes have a significant effect on interest in online loans among people in Kupang City.

Pengaruh Perilaku Keuangan Dan Pengetahuan Keuangan Terhadap Transaksi Pembayaran Non Tunai Pelaku UMKM di Daerah Perbatasan Kecamatan Raihat Kabupaten Belu

This study aims to analyze the influence of financial behavior on non-cash payment behavior and to determine the influence of financial knowledge on non-cash payment transactions in the community of Raihat District. This study uses primary data by distributing questionnaires to 30 respondents in Raihat District who are MSME actors. This study uses purposive sampling. The data analysis in this study uses multiple linear regression analysis with the results of the study showing that financial behavior and financial knowledge have a significant effect on non-cash payment transactions in the community in Raihat District.

WallStreetBets: Assessing the Collective Intelligence of Reddit for Investment Advice

The WallStreetBets (WSB) community on Reddit gained prominence for its role in the GameStop saga and the resulting meme stock phenomenon. Concurrently, this has boosted the popularity of finance-related communities on Reddit, with the top five totalling more than 25 million subscribers at the time of writing. However, little is known about the reliability of the advice disseminated in these communities, which is a relevant research question within the field of social computing. In this study, we examine the collective intelligence of WSB, the largest and most active subreddit focused on the stock market, and assess its potential as a democratizing force in enabling access to financial knowledge. First, we establish that WSB meets several criteria to be considered a collectively intelligent crowd. Then, we test our hypothesis quantitatively by analyzing Reddit posts and financial data from a 28-month period to evaluate how successful an investor relying on WSB recommendations could have been. We define a portfolio of WSB’s most discussed stocks which shows significant growth, outperforming the S&P 500 index over the reviewed time frame. We further find that following buy signals at the time they are posted on WSB leads to positive outcomes over the long run, and that the GameStop hype merely amplified previously existing characteristics. The WSB portfolio underperforms the broader market during downturns, but recovers more quickly and achieves higher profits afterwards. The results of our work can be generalized to comparable finance-related communities, indicating that their original purpose of leisurely entertainment has already been extended towards tangible real-world value.

Factors influencing the relationship between intention and behavior of using Fintech: Empirical evidence in Vietnam

This study focuses on evaluating factors that impact the relationship between intention and behavior of using fintech. Data in the study were collected from 351 observations during the period from September 2023 to December 2023, using linear structural modeling (SEM) to test hypotheses, including the relationship of all potential variables. The results show that Financial Knowledge (FL) is a moderating factor in the relationship between Intention (IT) and Fintech Usage Behavior (UFB), and Financial Self-Efficacy Belief (FSE) is Mediating factor in the relationship between Financial Education (FL) and Fintech Usage Behavior (UFB). In addition, the moderating role of Facilitating Conditions (FC) in the relationship between Intention to Use (IT) and Fintech Usage Behavior (UFB) is not statistically significant. We give some recommendations such as minimizing cybersecurity risks or providing financial literacy training for users.

Chinese College Student Financial Literacy: Knowledge, Attitude, and Behavior

The “campus loans” crisis has highlighted the importance of financial literacy among Chinese college students. Based on an analysis of 2,266 valid questionnaires, this study utilized survey data and logistic regression to examine the correlations between demographic and behavioral factors and financial literacy among students. The results indicated that, compared to their international counterparts, Chinese students generally possess less financial knowledge. However, they exhibit stronger financial attitudes and behaviors. A significant gender disparity was observed, with female students outperforming male students in financial literacy. Students attending more prestigious universities, particularly those majoring in economics, management, science, and engineering, and those dedicating more time to financial education, showed higher levels of financial literacy. Additionally, positive social interactions were associated with enhanced financial literacy. The study also identifies a “Surrounding People Effect,” where the presence of financially knowledgeable peers, friends, and family correlates with improved financial literacy among college students. These findings offer critical insights for developing targeted policies to enhance financial literacy among Chinese college students.

A STUDY OF FINANCIAL BEHAVIOR BASED ON THEORY OF PLANNED BEHAVIOR

The objective of this research is to investigate the applicability of the Theory of Planned Behaviour (TPB) in assessing the behavioural intention to invest among a specific group of individuals. This construct is an expansion of the Theory of Planned Behaviour (TPB) model that considers the significance of risk tolerance as a key factor influencing the investment intentions of individuals in the community. The study also examines the role of financial literacy in moderating the association between TPB and investment aspirations. This paper employs a cross-sectional research technique. The research model was validated using the approach of structural equation modelling (SEM). This research used a survey questionnaire to collect data from 114 individuals living in Ahmedabad, the metropolitan centre with the highest population in the state of Gujarat. Further analysis of the data was conducted using Smart PLS software. The results emphasise the importance of risk tolerance and financial literacy in conjunction with the decisions that investors plan to make about their investments. The current study provides evidence that investing decision-making is significantly impacted by variables including attitude, subjective standards, perceived behavioural control, and risk tolerance. The aforementioned research demonstrate that enhancing one's financial literacy may result in a heightened inclination to invest in financial assets. Nevertheless, the study indicates that possessing a more comprehensive knowledge of money does not mitigate the dangers linked to investing. This study extends the well- established TPB model by include risk tolerance and financial knowledge as moderators when examining behavioural intentions. Furthermore, it expands the range of TPB's effectiveness in the domain of investment decision-making to include additional categories of financial assets.

Pengaruh Pengetahuan Keuangan, Perilaku Keuangan dan Pendapatan Terhadap Keputusan Berinvestasi Mahasiswa Kota Batam

Along with changing times, especially improvements in the economic sector, Batam students need money as a complementary to meet their daily needs. One way to make money is investing. Students need financial knowledge as a basis for making decisions, applying appropriate financial behavior in managing their finances and adjusting income on the investment products they choose. This research has many objectives to be analyzed again, one of which is to see whether the results of this research can bring benefits to Batam City students in increasing their awareness of carrying out investment activities. The aim of this research is to find out whether financial knowledge, financial behavior and income influence the investment decisions of Batam students. The sample in this research was Batam students who took the Accounting study program, totaling 105 respondents. The method used to collect data was by form of distributing questionnaires to universities in Batam. The data analysis methods used are descriptive statistical analysis, data quality test, classical assumption test, multiple linear regression analysis, hypothesis testing, coefficient of determination and the data is processed with help of statistical tools with SPSS version 26. The results of this study show that financial knowledge hasn’t effect on investment decisions of Batam City students. Financial behavior has a significant influence on investment decisions of Batam City students. Income has a significant influence on investment decisions of Batam City students. Simultaneously financial knowledge, financial behavior and income have a significant influence on investment decisions of Batam City students. The conclusions in this research are that H1 is rejected, H2 is accepted, H3 is accepted, and H4 is accepted

Assessing the Multifaceted Impact of Artificial Intelligence on Financial Intelligence

This research focuses on the influence of simulated intelligence on people’s financial knowledge, emphasizing the aspects of risk evaluation, outcome evaluation, network security, and global collaboration. It presents the scenarios and the use of man-thinking (artificial intelligence) techniques such as AI information science, and NLP to solve the worldwide financial crises. Firstly, the introductory part of the review sets the background of monetary emergencies. Then, it proceeds with the evaluation of current monetary knowledge techniques and the administrative planning for simulated intelligence in finance. The organization in the process of creating a money policy is characterized by moral implications, human-computer-based intelligence joint effort, and contextual analysis. The study also touches on AI-driven risk assessment, stating that AI makes it easier to identify risks in real time. The study, which focuses on the case study of the UCLA Computer Science Department, through continuous monitoring, cybersecurity measures, and the comprehensive examination of AI's role in reshaping financial management, emphasizes. Lastly, the research shows that AI can be the base of the financial ecosystem which can be more adaptable, efficient, and secure, giving valuable info to the academics, the professionals in the industry, and the policymakers.

The Effect of Financial Knowledge, Financial Attitudes and Financial Management Behavior on Financial Satisfaction of Gopay Fintech Users in Malang City

This study aims to determine the effect of financial knowledge, financial attitude and financial management behavior on financial satisfaction among fintech gopay users in Malang city. The number of samples in this study were 100 respondents with a purposive sampling method. The object of this research is the people of Malang city. The data analysis method used is multiple linear regression with SPSS 25 software. The results of this study indicate that the three independent variables, namely financial knowledge, financial attitudes and financial management behavior simultaneously and partially influence financial satisfaction.

AN EMPIRICAL STUDY ON IMPLICATIONS OF FINANCIAL LITERACY ON FINANCIAL WELL-BEING

The study aimed to assess the level of financial literacy among individuals in Delhi. The implications of financial literacy on financial well-being were analysed. Financial literacy was measured using three dimensions: financial attitude, financial knowledge and financial behaviour. An attempt was also made to identify financial knowledge under/overconfidence. The relationship between various socio-demographic factors with financial literacy and financial well-being was also analysed after investigation. The primary data was collected and analysed using statistical tools such as percentage analysis, t-test, ANOVA, linear multiple regression analysis, and chi-square analysis and finally, a Structural equation model was constructed to understand the impact of financial literacy on financial well-being. The analysis uncovered some significant findings, which are summed up in this paper. Various areas of concern are also identified and suggestions are offered to improve financial literacy and enhance financial well-being.

FINANCIAL LITERACY: A COMPARATIVE STUDY BETWEEN COMMERCE AND NON-COMMERCE STUDENTS OF INSTITUTE FOR EXCELLENCE IN HIGHER EDUCATION (IEHE), BHOPAL

Financial literacy plays a pivotal role in an individual's ability to make informed financial decisions, manage resources effectively, and achieve financial well-being. This report represents a comparative study aimed at evaluating the levels of financial literacy among two distinct groups of undergraduate students: commerce and non-commerce. The study provides an overview of the objectives, methodology, and the significance of addressing financial knowledge of the subject among students and also provides a comprehensive examination of at different levels among the students. It recognizes the role of education in shaping individuals' financial behaviours and choices. Addressing this need can contribute to economic stability and prosperity for individuals and society as a whole.

FINANCIALLY COMPETENT BEHAVIOR OF RUSSIANS UNDER THE CONDITIONS OF SANCTIONS PRESSURE: RATES AND INDICATORS

The purpose of the study. The article discusses indicators and indicators that influence the formation of financially literate behavior based on the results of empirical research in terms of determining the types of financially literate behavior of the population of the Russian Federation under sanctions pressure, within the framework of research “Effective tools for the formation of financially literate behavior of the population under sanctions pressure”. At the same time, the paper notes that financial literacy and, as a result, financial behavior plays a significant role in the lives of both individuals and the whole society. The changes in the economic environment and technological progress are analyzed and it is emphasized that the possession of financial knowledge and skills is a prerequisite for successful functioning in the modern world. As various sociological studies and departmental statistics show, today Russia is facing the challenges of low financial literacy and risky financial behavior, which, in turn, affects the quality of life of the population and, in particular, their income level. Conclusions. Based on the conducted research, indicators and indicators that determine the profiles of financial behavior of the population under the conditions of sanctions pressure have been identified. The author concludes that the skills that make it possible to effectively manage finances and make purposeful decisions are important not only for personal development, but also for the quality of life in changeable conditions. Financial literacy plays a huge role in modern conditions of development of society, especially during the sanctions pressure on the country. In the presence of sanctions, the economic situation becomes unstable, which requires special attention to its financial decisions.

FINANCIAL INCLUSION: DOES IT PLAY AN IMPORTANT ROLE IN A COUNTRY? REVIEW OF THE LITERATURE

Financial Inclusion (FI) is a key pillar of financial development and inclusive growth in a country. It plays an immense role and is showing an evolving nature around the world. Most research now investigates this concept mainly due to its supportive nature for a country’s development perspectives. Many countries make investments and pay considerable attention to initiating FI agendas and national FI strategies to improve the level of FI in their countries. Economic empowerment through formal financial sector activities, poverty reduction, lowering income inequality, enhancing savings and investments, and improving productivity are some of the contributory factors of FI. Reviewing nearly 50 past literature, this article attempts to develop new literature regarding the importance of FI for a country. Furthermore, the study examines FI definitions and barriers to FI. The findings of the literature reveal that FI directly supports the achievement of a country's growth objectives. The main contributory factors of FI are employment creation, reducing income inequality and poverty, smoothing the financial sector while maintaining financial system stability, and working with technological developments towards financial activities. However, there are several important bottlenecks such as lack of income, difficult access points due to long distance, barriers to digital finance and payments, and lack of financial knowledge. Affordable financial sector products and services for everyone tend to improve the level of FI. The outcome of the research provides valuable insight for policymakers and responsible authorities to take proactive actions to reach the FI targets by eliminating barriers to FI. In this regard, higher participation of the population towards the formal financial sector in a country is an important element, and actions should be arranged for the gradual transformation of people to achieve this target. The findings of this study further provide avenues for future studies and policy-level decisions, highlighting the fact that FI is an important concept for creating a financially inclusive country.

A PRELIMINARY STUDY ON DEBT PERCEPTION TOWARDS MALAYSIAN UNIVERSITY STUDENT

Debt has become an increasingly worrying issue among students of higher education institutions in Malaysia. A pilot study was conducted using survey techniques to assess the level of financial knowledge, attitudes, and practices among 33 students from faculty accounting at Universiti Teknologi Mara Kota Kinabalu Branch, Sabah. The research instrument consisted of structured questionnaires. The pilot study findings indicate a significant gap between respondents' knowledge, attitudes, and financial practices. Therefore, a full-scale study is proposed to investigate the perception of debt among students at this university in greater depth. The findings from this study are hoped to assist the university and government in formulating appropriate awareness and intervention programs to address student debt issues.

Impact of Financial Literacy of MSE’s on The Use of Financial Products

Objective – The purpose of this study is to find the impact of financial literacy of micro and small enterprises on financial products. Methodology/Technique – Data was collected through the distribution of questionnaires. The method used was data analysis using multiple regression analysis technique. The sample of this study was 70 small and micro enterprises in Sumba Island, East Nusa Tenggara. Findings – The findings reveal a positive correlation between financial literacy and financial products. Novelty – Improving financial literacy among SMEs will lead to increased use of financial products. The significance of this study is to implement information dissemination and training programs to improve financial literacy and promote the adoption of financial products among SMEs in Sumba Island. Type of Paper: Empirical JEL Classification: G02, G32, G39. Keywords: Inclusion, Financial Literacy, Financial Knowledge, Financial Behavior, Financial Attitude Reference to this paper should be made as follows: Amtiran, P.Y; Anabuni, A.U.T; Yuni, E; Balle, M.Y; Maima, J. (2024). Impact of Financial Literacy of MSE’s on The Use of Financial Products, J. Fin. Bank. Review, 9(1), 38 – 48. https://doi.org/10.35609/jfbr.2024.9.1(2)