Financial Management Knowledge Research Articles

Financial Management Knowledge of the Low-Income Population

While financial management programs for the low-income population have developed in recent years, little is known about financial knowledge levels of participants in these programs. This study examines pre-training financial knowledge and related participant characteristics among participants in one large financial management training program for low-income people. Results indicate that knowledge deficiencies exist on basic financial management issues, especially with respect to public and work-related benefits and savings and investing. Results from regression analyses also indicate that participants' education, English proficiency, race/ethnicity and banking experience are among the factors associated with financial knowledge levels. Policy and practice implications for developing effective financial management training for low-income audiences are discussed.

The relationship between private businesses and their banks

PurposeThe purpose of this paper is to show how banks have a critical role in helping SMEs by providing investment capital that businesses need and by offering sound financial advice through the growth of the company.Design/methodology/approachUsing the Forum of Private Business (FPB) Bank Report of 2004, the total sample represents responses from the FPB and customers of six participating clearing banks. Although the total sample is used to compile performance indices by the bank, the rest of this paper is based solely on the FPB sample.FindingsBusiness and their managers should improve their knowledge of financial management. Appreciation on the part of banks that SMEs' confidence in formalised process will be greater where small firms’ own representatives have set up contingencies to overcome relationship problems when trading difficulties arise.Originality/valueIt was found that in order to pursue economic competitiveness it is necessary for many SMEs to have a flexible working relationship with their banks.

Lodging management success: Personal antecedents, achievements, KSAs and situational influencers

This study investigates the influence of personal antecedents and achievements (i.e. intrinsic attributes, personal character, strategic positioning and academic achievements) on lodging management knowledge, skills and abilities (KSAs) and success. The findings reveal that correlations between intrinsic attributes, personal character and strategic positioning, and KSAs are generally stronger than the correlations found between academic achievements and KSAs. Knowledge in financial management and other situational influencers was determined to contribute most to managers’ career success. Also strategic positioning was identified as a moderating variable between KSAs and monetary success.

Electronic disclosure and financial knowledge management

In this paper, we reported the benefits of using eXtended Markup Language (XML) to support financial knowledge management and discussed number of issues associated with developing an XML-based financial knowledge management system. Current searching engines do not provide sufficient performance in terms of recall, precision, and extensibility for financial knowledge management, because the data represented in HTML format cannot support financial knowledge management effectively. On the other hand, XML provides a vendor-neutral approach to structure and organize contents as XML authors are allowed to create arbitrary tags to describe the format or structure of data. A prototype of XML-based ELectronic Financial Filing System (ELFFS-XML) is developed, and value-added services such as automatic tag generation and cross-linking related information from different data sources are provided to enable knowledge representation and knowledge generation. We compared the XML-based ELFFS with the original HTML-based ELFFS and SEDAR — an electronic filing system used in Canada, and we found that ELFFS-XML is able to provide much more functionalities to support knowledge management. We also compared our automatic tag generation result with the experts’ and investors’ choices, and recommended some directions for future development of similar electronic filing systems.

The Formal Education and Lodging Management Success Relationship

The impact of formal education on lodging career success is investigated by querying managers' opinions regarding the role formal education plays in job-related knowledge. While the study results suggest that industry professionals do not consider formal education as having substantial impact on their current knowledge and competence, middle management respondents perceive formal education as having more influence on their competence in financial management than did their senior-level counterparts. Thus, it can be argued that the restructuring of hospitality educational programs in the past decade had a positive influence on the financial management knowledge and competence of upcoming managers.

Knowledge, Skills, and Abilities for Lodging Management

This study examines the effect of the following knowledge, skills, and abilities (KSAs) on managers’ lodging success: human resources management, marketing, financial management, and information technology. The investigation determined that knowledge perceived as important for management success differs from actual KSAs that distinguish senior-level executives from their subordinate middle-level counter-parts. The findings revealed that managers placed highest importance on and were most skilled in human resources management competencies. However, knowledge in financial management appeared to be a stronger indicator of top-level success. Underscoring the importance of financial knowledge was the finding that of all the KSAs being studied, only financial management had a significant, positive relationship with increased compensation. Moreover, financial management appeared to be a key to promotion to top-level positions. The implication of these findings is that educators, trainers, and would-be top executives should pay attention to financial management by ensuring that educational institutions and training programs provide proper coverage of financial techniques and analyses.

The Contribution of Financial Management Training and Knowledge to Dairy Farm Financial Performance

Cooperative Extension and other institutions (e.g., technical colleges, on-line self study programs, university short courses, etc.) frequently stress the importance of financial management education for successful farming operations. The research reported in this paper attempts to quantify the contributions of such training to the financial performance of dairy farms in Wisconsin. Our results suggest a link between a deeper understanding of financial concepts and greater financial returns but that it is a relatively weak one. Moreover, simple exposure to farm management training programs and self-confidence in farm financial decision-making ability are not significantly related to farm financial outcomes.

Federal Government Challenges in the 21st Century

Increasingly high public expectations and changes in the environment of government are creating substantial challenges for government and its policy makers. Critical among these challenges are budget issues, a human capital crisis, the use of a complex set of policy tools, and the use of nonfederal actors to deliver public policy. To address the needs created by these challenges, schools of public affairs should expose students to principles and case studies of leadership, provide multidisciplinary training, foster understanding of operations in multiple sectors, ensure knowledge of financial management, ground students in ethical challenges of public service, and ensure skill in the development and use of performance measurement.

From unstructured HTML to structured XML: how XML supports financial knowledge management on the Internet

Reports the benefits of using extensible markup language (XML) to support knowledge management of financial information. Current search engines cannot provide sufficient performance to support users of financial information, which includes both non‐structured items and well‐structured items. For investors, making a high‐quality decision sometimes requires both. XML can help by providing tags to create structure. XML provides a vendor‐neutral approach. XML authors can create arbitrary tags to describe the format or structure of data, and are not restricted to the tags in the specification for HTML. A prototype XML‐based Electronic Financial Filing System (ELFFS‐XML) has been developed to illustrate how to apply XML to model and add value to traditional HTML‐based financial information by cross‐linking related information from different data sources. Compares the functionality of XML‐based ELFFS with the original HTML‐based ELFFS and SEDAR, an electronic filing system used in Canada, and recommends some directions for future development of similar electronic filing systems.

Reply to Reed and Swain

Reply to Reed and Swain

Costing nonprofit services: developments, problems, and issues.

The author reviews the current status of cost accounting in the nonprofit sector. Major conceptual, methodological, and practical problems which impede use are discussed, and approaches for advancing knowledge in nonprofit financial management are presented. While much of the information applies to nonprofit organizations in general, the focus is on voluntary health and welfare organizations.

The Transfer of Financial Management Knowledge Innovations

The article reports the findings of a study of a project that attempted to transfer financial management knowledge innovations to officials of small municipalgovernments. Because the project dealt with a type of knowledge and a set of clients that are not the typicalfocus of knowledge utilization research, it presented an opportunity to examine the generalizability of several of this research area's concepts and propositions. The study's findings suggest that a knowledge transfer project that attempts to serve organizations of various sizes must tailor its strategy to the size of target organizations, and that heterophilous change agents may be more successful than homophilous change agents in transferring knowledge innovations that will be accepted by the client without modification. The study demonstrated the utility of two research tactics proposed by other researchers on knowledge utilization, namely importing concepts from innovation research and looking for associations between variations in knowledge utilization and organizational characteristics.

Analisis Tingkat Literasi Keuangan Pengguna Fintech Payment OVO

Knowledge of financial Management should be the basis for decision making for MSMEs in running their business. Supported by various regulations and facilities by the government and private sector, MSMEs should be able to make the best use of technology in accordance with their business needs. Fintech is a financial service that can help players to make payment transactions. This research uses descriptive qualitative method with the aim to find out the level of MSMEs financial literacy in Mojokerto City about Financial Technology (Fintech) Payment. Financial literacy has 4 levels: not literate, less literate, sufficient literate, well literate. Financial literacy is measured by indicators of knowledge, beliefs, features, benefits, risks, rights and obligations, and skills in using fintech payments. The key informants in this study are the owners of the MSMEs Paradox Cafe and John Like Bread in Mojokerto City who use fintech payment OVO in their business. The data analysis technique used in this study was triangulation. Based on the results of the interview it can be concluded that the Paradox Cafe and Bread of John Like Mojokerto City have a literacy level that is well literate because they have knowledge, beliefs, features, benefits, risks, rights and obligations, as well as skills in using fintech payment in managing financial transactions and in decision making for his efforts.

Perspectives on the training of school governing bodies: towards an effective and efficient financial management system

School governance is one dimension of a major commitment to democracy in post-apartheid South Africa (Bush 2004). Although stakeholder participation in school activities is essential, it is also widely recognised that many parents and educators on school governing bodies (SGBs) lack the necessary knowledge and skills in financial management to contribute effectively to school governance. And despite the Schools Act 84 of 1996 making provision for provincial education departments to provide for SGB training, it would appear that some provinces have not attached importance to this function. It has been observed that when training was provided, the quality of training was substandard and the attendance of SGB members from specific schools was low. Using a qualitative approach, the perceptions of school governors on the effectiveness of training in financial matters were determined. Analysis of data revealed, amongst others, that the application of the cascade model to SGB training had serious limitations, that the delivery of training programmes did not cater for the needs of previously disadvantaged schools, and that despite attending training sessions, many governors still lacked the necessary expertise and skills to manage school finances. Guidelines will be developed to ensure that SGB members receive effective training in financial management.

Application of the Financial Management Function in the Family Size Farm Firm

S UCCESS in family farm firms requires that the household farmmanagement complex make concurrent production and financing decisions to achieve realistic financial objectives set by the household. Economic theory of the firm has not evolved usable models in which the dynamics of production, capital, and finance are integrated [1, 5]. However, the increased rate of change in the mix of inputs used in production and marketing, lower profit margins per unit of output, firm growth, and income tax considerations are suggesting that researchers need improved insights on financial management, and farmers need improved financial management knowledge and skills. This paper is addressed to the newer areas of financial management in family-sized farm firmnns, a subarea and interrelated area of farm management.1