High Interest Research Articles

The Impact of Incentivization on Recruitment, Retention, Data Quality, and Participant Characteristics in Ecological Momentary Assessments

Ecological Momentary Assessment (EMA) study participation is usually incentivized using monetary (e.g., fixed or performance-contingent payment) or non-monetary (e.g., feedback) compensation. This study investigates the impact of this incentivization on recruitment, retention, data quality, and participant characteristics in a sample of 74 students. For this purpose, an EMA study (time-based sampling) was conducted in participants’ daily life using a 2 Payment (fixed/ performance-contingent) x 2 Feedback (yes/ no) experimental between-subjects design. Offering feedback increased the likelihood of participation and reduced the likelihood of participants receiving fixed payment to drop out. Offering feedback additionally improved data quality. Furthermore, offering feedback attracted participants with higher interest in research and the study topic. Offering fixed vs performance-contingent payment had little effect on the outcomes of interest. Offering feedback as compensation in EMA studies may facilitate recruitment and increase data quality; however, it may also risk higher selection bias. Conclusions are drawn from a relatively small student sample; the results thus need to be replicated in larger and more diverse samples.

“Superstitious” Investors

Abstract We reconsider the excess volatility puzzle through the lens of a model in which agents believe they can predict dividend growth when in fact they cannot. Besides excess volatility in the time series, the model explains the value premium, and the explanatory power of the value factor. In support of the model, we show that analysts’ earnings forecasts align with market valuation and that analysts are far more optimistic about growth stocks than they are about value stocks. Using both survey and price data, we show that the same mechanism can explain the excess returns earned by investing in high-interest rate currencies. JEL G12, G15, G41

VRIO Analysis in Developing Branding Strategies for Egg-Based Food Products as Souvenirs from Blitar – Local Perspective

Blitar is rich in tourism potential. The local economy stands to benefit significantly from tourism, creating job opportunities and enhancing community development. Blitar's position as a major egg producer offers unique opportunities for developing egg-based souvenirs. However, challenges include identifying appealing products and effective branding strategy is required to enhance the marketability of these products, fostering economic growth and tourism in the region. This study utilizes a mixed-method approach to explore consumer perceptions of egg-based processed products in Blitar, combining quantitative surveys with qualitative interviews of business actors. A survey of 61 respondents gathered measurable data on consumer preferences and factors influencing purchasing decisions. In-depth interviews provided insights into marketing strategies and challenges faced by producers. The study employs descriptive statistics and VRIO analysis to develop effective branding strategies for promoting processed egg products as signature souvenirs from. The analysis reveals that respondents indicating higher interest in egg-based products as souvenirs from Blitar as food significantly influences their choice of tourist destinations, with a strong preference for local ingredients. However, awareness of Blitar’s egg production potential is low, leading to limited appeal for egg-based products. The VRIO analysis shows organizational weaknesses hinder competitive advantage despite valuable product features. Effective branding strategies tailored to consumer expectations are crucial for market success. Enhancing product awareness and education through organized action can further strengthen the appeal of these culinary offerings in tourism.

Predictors of infectious disease-related behaviors among adolescents in Armenia

Abstract Background We explored the behaviors related to infectious diseases (ID) and its predictors among 15-17 years old adolescents in Armenia. Methods We surveyed adolescents from public and private high schools in Yerevan and one province in 2023. The instrument explored ID-related behaviors, health literacy (HL), interest in health, and socio-demographics. ID-related behaviors were measured with five Yes/No questions about sharing a toothbrush, covering their mouth when coughing or sneezing, and washing hands with soap and water - before eating, after using the bathroom, and when coming home. HL was assessed with ten questions on a scale from ‘Strongly disagree’ to ‘Strongly agree’. Summative scores were calculated for ID-related behaviors and HL. Multivariable regression analysis explored factors associated with ID-related behaviors. Results Overall, 366 students completed the survey, most of them being females (64.4%). The majority were interested in health issues (80.7%). Almost all respondents reported not sharing a toothbrush with other persons (97.9%) and usually covering their mouth when coughing or sneezing in public places (94.1%). Somewhat lower percentages reported washing hands with soap and water before eating (82.0%), after using the bathroom (89.2%), and when coming home (86.6%). The mean behavior score was 4.52 out of 5 (SD = 0.92) and the percent score was 90.4%. The average HL score was 17.41 out of 30 (SD = 4.47). In the regression analysis, being female vs. male, being interested in health vs. not, studying in private vs. public schools, and having higher HL were independent significant predictors for higher score of ID-related behaviors. Conclusions Armenian adolescents reported high levels of compliance with ID-related behaviors. Improving health literacy and fostering interest in health can help further enhance the performance of preventive behaviors. Interventions targeting public schools and male adolescents are particularly pertinent. Key messages • Being female, studying in private schools, having higher interest in health issues, and better health literacy independently positively influence infectious disease-related behaviors. • Promoting health literacy and fostering interest in health in high schools have the potential to further enhance infectious disease prevention behaviors among adolescents.

Macroeconomic Determinants of Foreign Direct Investment Inflow in Laos

This study aims to study macroeconomic determinants of foreign direct investment inflow in Lao PDR, which includes macroeconomic variables such as gross domestic product growth rate (GDPGRO), government investment spending (GI), exchange rate (EXR), inflation rate (IFR), interest rate (IR), openness trade (OPTR) and money supply (MS) from 2001-2022. This results found that: The foreign direct investment inflow has 12,298.57 million US dollars on an average per year is equal to 559.03 million US dollars and has an average growth rate of 4.73% per year, for the public expenditure used to investment is increasing every year with an average growth rate of 10.96% per year. The exchange rate of kip per US dollar has an increasing trend but overall there is a growth rate equal to 1 digit only in 2022 there is a growth rate equal to 2 digits which is equal to 45.94%. For the inflation, the growth rate is 6.33% per year, which is the year with the lowest inflation rate is 2017 which is equal to 0.83% and the year with the highest inflation rate is 2022 which is equal to 22.96%, The decreasing trend in which the year with the highest interest rate on US currency loans is 2002 which is equal to 13.5% and the year with the lowest interest rate on US currency loans is 2011 which is equal to 8.15%, the open trade has an increasing trend. The year with the highest increase in 2021 is equal to 77.91% of GDP and the money supply is increasing every year. For the analysis of macroeconomic factors to foreign direct investment, it was found that the economic growth rate of gross domestic product (GDPGRO), public investment expenditure, the exchange rate of kip per US dollar and the money supply have a positive coefficient and reject the null hypothesis with a statistical significance level of 0.01 and 0.05 indicates that it is a doubtful factor for foreign direct investment to increase. Meanwhile, the inflation rate has a negative coefficient and rejects the null hypothesis at a statistical significance level of 0.05, which is a factor that reduces foreign direct investment transfers. For the interest rate in dollars and the open trade, there are accepted null hypothesis, it shows that there is no effect on the transfer of foreign direct investment.

#Stand with Ukraine: Analyzing the links between Germans' emotions and their readiness to protest in response to the Russian invasion of Ukraine

AbstractThe Russian invasion of Ukraine in February 2022 sparked protests around the globe. Most of Europe had – luckily – not seen violent conflict of this scale on their doorstep for more than 30 years. For Germany, the period was even longer. Being confronted with news about the war drove thousands of German citizens to the streets. In passionate protests, they made various demands of their government. Herein, we investigate the links between Germans' emotions and their readiness to engage in such protests. Drawing on collective action research, we predicted that anger and sympathy would correlate positively with Germans' protest readiness. Given the context and public debate, we predicted that fear should also correlate with protest readiness. Two surveys (total N = 905) conducted with residents of Germany – one day after the invasion and at its first anniversary – supported our hypotheses. We consistently found that the more sympathy and anger respondents experienced, the greater their readiness to protest. Fear explained variance beyond sympathy and anger in two cases and in an information‐seeking measure of protest readiness: Greater fear correlated with a higher interest in demonstrations advocating peace negotiations and a lower interest in demonstrations calling for solidarity with Ukraine. These findings underscore the links between sympathy, anger, fear, and the readiness to protest in response to the contemporary crisis that is the war in Ukraine.

Estimating probability of default via delinquencies? Evidence from European P2P lending market

The unprecedented growth of the financial sector's digital transformation opens wide areas to the scaling up of finance in innovative and knowledge-based projects. Improving risk management takes centre stage in the acceleration of this process. This study uses loan-book data from the peer-to-peer (P2P) lending market to empirically investigate the determinants of default risk. Using the loan-book database covering the period from 2014 to 2020, we examine multiple factors related to the default risk of loans issued by P2P lending platforms. The results indicate that a higher interest rate and higher stock market returns increase the probability of default in the P2P lending market. Results are robust to additional tests based on endogeneity correction, the LASSO method and sampling bias. The severity of the impact of market returns and interest rates is found to be significantly different based on the levels of financial technology (FinTech) adoption and banking sector distress. Increases in the market interest rate are found to boost the sensitivity of P2P loan defaults to stock market volatility. This study contributes to existing literature on risk management models with its consideration of country-specific factors, paving the way to future best practices in the market.

Constraints Faced by Rural Women in Changing Livelihoods in Bangladesh: A Study on the Impact of Microcredit through PDBF

The main purpose of the study is to determine the extent of the constraints faced by the women beneficiaries of Palli Daridro Bimochon Foundation (PDBF) on their socio-economic development and to explore the relationship between the socio-economic characteristics of the beneficiaries and their constraints. A total of 3436 women beneficiaries of three upazilas under 55 districts of PDBF constituted the population of the study. A face-to-face interview survey was conducted to collect data from the randomly selected 346 respondents. Among the 13 selected problem items, ‘high rate of interest’ was ranked first (70.81%), ‘more savings have to be deposited while taking the loan’ was ranked second (68.69%) and third (68.40%) was ‘various income generating activities and social development training are inadequate’ The findings revealed a significant relationship between training exposures, decision-making ability, savings deposit, income-generating activities, communication & network, and constraints faced by PDBF beneficiaries. Therefore, the PDBF authorities should consider significant factors in reducing the constraints faced by rural women to change their livelihoods.

Inaccurate Borrower Information and Credit Risk: Evidence from Marketplace Loans

Abstract Inaccurate borrower-provided information in marketplace loans is informative about credit risk. An inaccuracy index constructed from the consistency of loan amount with outstanding credit balance, roundness of reported income, and roundness of chosen loan amount predicts the likelihood of default, and the additional default risk is not compensated by higher interest. Inaccurate information is more prevalent in areas with lower social capital and weaker social norms. It is also lower among borrowers whose professions are considered less honest, and among borrowers with higher income uncertainty. These results suggest that inaccuracy is driven by both deliberate misreporting and genuine uncertainty. (JEL D12, D91, G23, G41)

Finnish primary school student teachers’ systems thinking regarding sustainability in connection with reproduction, biodiversity and sustainable development

Systems thinking is considered an important skill when teaching biology and sustainable development in the 21st century. The key to understanding biodiversity and thus sustainability in biology is understanding reproduction as a phenomenon. The aim of this study is to analyse student teachers’ systems thinking levels regarding sustainability in connection with reproduction, biodiversity and sustainable development. Second-year primary school student teachers from one Finnish university (N = 174) participated in a questionnaire, and their open-ended answers were categorized using content analysis. The results indicate that most of the student teachers had a relatively low level of systems thinking concerning sustainable development and its relation to the concepts of biodiversity and reproduction. The study also showed that student teachers with higher interest towards biology had a more sophisticated level of systems thinking. For developing sustainability understanding, teaching focusing on the specific systems thinking skills concerning processing and understanding of wholes is crucial.

How Do Age and Attitudes Affect the Quality of Data Collected by Young Citizen Scientists in an Ecological Research Project?

Citizen science is increasingly used to collect ecological data. Specifically, participation of school students in authentic research has been suggested as having a multitude of benefits from serving as data collection to providing science education. Nevertheless, the overall quality and quantity of data is concerning for ecologists who are using data for research. In the Helsinki Urban Rat Project, lower- and upper secondary school students (13-19-year-old) collect data on urban rat occurrence using track plates that record rat footprints. I measured the success of school-aged citizen scientists in collecting and submitting data, and I determined the accuracy of the data they submitted by comparing their results to the results from professional researchers. Furthermore, I used additional questionnaire to relate success and accuracy to student attributes, including age, attitudes about biology as a school subject, interest in the environment and disgust sensitivity toward rats. I learned that, in contrast to results from previous studies, age was not a significant variable but rather available support from a teacher and voluntary participation with rewards were associated with higher data quality. Additionally, attitudes played a part in observer quality: higher liking of biology as a school subject was associated with lower accuracy, whereas a higher interest in the environment was associated with higher accuracy. The young citizen scientists provided broadly accurate data, although false-positive observations were comparatively common. The results suggest that the quality and quantity of citizen-generated data are not straightforwardly dependent on the selected target groups. Citizen science activities should be planned by careful consideration of the context as, for example, the organization of the participation strongly shapes the participatory activities.

Labor market policies in high- and low-interest rate environments: Evidence from the euro area

Do labor market policies initiated in periods of loose monetary policy yield different outcomes from those introduced when monetary tightening prevails? Using data from 11 euro-area members up to 2010–and extending to 17 countries up to 2020–we analyze three labor market policies: replacement rates, spending on active labor market policies (ALMPs), and employment protection. We find that these policies deliver different macroeconomic outcomes in low- and high-interest rate environments. In particular, ALMPs reduce unemployment if implemented under a loose monetary policy but not otherwise, whereas higher employment protection delivers expansionary effects under a tight monetary policy. These findings highlight that the effectiveness of labor market policies is significantly influenced by the monetary policy environment, emphasizing the need for coordinated policy design. Methodologically, we contribute by proposing to average local projections using Mallow’s Cp criterion, allowing for inferences that are robust to mis-specification and accommodate non-linearities.

Interest in anime and manga: relationship with (mental) health, social disconnectedness, social joy and subjective well-being

Abstract Aim Our aim was to examine the association between interest in anime and manga and their relationship with (mental) health (in terms of depressive symptoms, anxiety symptoms, health-related quality of life, symptoms of hikikomori), social disconnectedness (in terms of preference for solitude, loneliness, objective social isolation, and perceived social isolation), subjective well-being (in terms of ikigai, life satisfaction, and happiness) and joy (frequency of laughter, and frequency of hugs). Subjects and methods Data were taken from a large sample of the general German adult population aged 18–74 years (n = 4,738 individuals, average age: 46.4 years). Established tools were used to quantify the outcomes. Multiple linear and ordered logistic regressions were used, as appropriate. Results Regressions showed that a higher interest in anime was associated with several adverse mental health and some social disconnectedness outcomes. Contrarily, a higher interest in anime was associated with favorable subjective well-being outcomes, and favorable joy outcomes. Similarly, regressions showed that a higher interest in manga was associated with several adverse (mental) health and some social disconnectedness outcomes. Contrary, it is associated with lower objective social isolation. Moreover, it is not significantly associated with subjective well-being outcomes, but significantly associated with the joy outcome frequency of hugs. Conclusion A higher interest in manga and anime was associated both with negative and positive outcomes. Particularly a higher interest in anime was associated with more favorable subjective well-being scores, laughing and hugging. In this respect, this topic needs to be approached in a very nuanced way.

Macroeconomic Determinants of the Gap between Domestic and International Gold Prices in Vietnam

This research investigates the factors influencing the disparity between domestic gold prices (SJC gold and 9999 gold) and global gold prices in Vietnam from January 2011 to December 2023. Using the Autoregressive Distributed Lag (ARDL) model, we identify key macroeconomic determinants impacting this price spread, including interest rates, oil prices, and consumer demand. Our findings reveal that higher interest rates are associated with larger price spreads, suggesting that monetary policy plays a significant role in the domestic gold market. Oil prices exhibit a negative relationship with the price spread for 9999 gold, indicating that rising oil prices tend to align domestic gold prices more closely with global trends. Consumer demand notably affects the SJC_Global price spread but not the 9999_Global spread, reflecting the different market dynamics of finished goods versus raw materials. Additionally, the error correction terms in both models indicate a robust mechanism for long-term equilibrium, demonstrating the Vietnamese gold market’s resilience. These insights highlight the need for policymakers to reconsider existing regulations, such as Decree 24, to ensure a stable and efficient gold market. The study concludes that while the Vietnamese gold market exhibits sustainable practices, regulatory revisions are necessary to support both market growth and community development. Future research should consider additional macroeconomic variables and the impact of regulatory changes over time to further understand the dynamics of gold price disparities in Vietnam.

Sustainability of lending diversification of sub-Saharan African low-income countries

The momentum in sub-Saharan low-income countries is leading to diversifying their funding sources to cover large infrastructure expenditures. This situation meets the expectations of international investors who are still willing to explore new opportunities. Recent access to the Eurobond market by these new players has resulted in the growing substitution of traditional concessional loans by market ones in countries with low-debt portfolios. Thus, a new sustainability approach is required to include risk premiums and potentially versatile investor behaviors. First, we use a theoretical model to show that in a context of low international interest rates, debtor countries can continue to stabilize their level of debt either through budget deficit, if it remains below a given sustainability threshold, or through budget surplus in a downturn context (high-interest rates and spreads). Second, the versatile behavior of investors could be challenging. Third, global liquidity greatly influences the debt dynamics of SSA countries so it matters more for bond spreads than domestic factors. As our empirical study shows that the current debt situation of sub-Saharan African low-income countries increasingly involved in the Eurobond market remains under control. To avoid the worst-case scenario, strong institutions should be a priority, along with appropriate management tools and methods of debt monitoring to cope with all potential vulnerability caused by undesirable side effects of such unstable behaviors.

The Role of Savings and Credit Cooperative Societies in Financially Supporting Employed Women in Dar es Salaam, Tanzania: A Case Study of CRDB Workers SACCOS

Savings and Credit Cooperative Societies (SACCOS) are financial cooperatives that aim to meet the financial needs of different population segments, including women, men, or other specified categories. The primary role of these financial institutions is to improve the socio-economic development of their registered members and the community at large. The aim of this study was to determine the effects of SACCOS on women's financial accessibility, specifically focusing on those working with the Cooperative Rural Development Bank (CRDB) in Dar es Salaam. The research was grounded in Agency Theory and Stakeholder Theory. A descriptive research design was employed, and quantitative analysis was performed. A sample of 80 respondents was randomly selected from a population of 1,700 members of the CRDB workers’ SACCOs. The study utilized observation, surveys, and questionnaires. Secondary data sources included newspapers, journal articles, books, SACCO manuals, and authoritative internet sources. Simple descriptive methods were used to present the study's results, while percentages were used to highlight numerical patterns. Quantitative data was analyzed using Excel. The results showed that over 77% of SACCO's female members experienced better socio-economic conditions compared to non-members. The study recognized that quick access to finance through SACCO services significantly improved the standard of living, particularly for women. Although these women work with the bank, SACCO services have enabled them to access more finance than they would typically qualify for through the bank. However, SACCOs face several constraints, including poor management, lack of training opportunities for members, high-interest rates, and societal perceptions of women (segregation). These factors have presented challenges to the performance of SACCOs. The study recommends that members receive training on how to improve the performance of SACCOs to better leverage the services provided. In general, the government should amend and enforce policies related to governance, financial management, and the proper management of accounting and strategies that strengthen SACCOs. This would enhance their ability to support women’s access to finance, leading to improved socio-economic development.

An Empirical Analysis of Public Debt Sustainability in Kenya

The study provides a focused analysis of Kenya’s determinants of debt sustainability owing to its consistent budget deficits and higher debt servicing costs. Unlike broader studies, this research focuses on Kenya's unique economic conditions and talks about the consequences of unchecked debt servicing payment failures in Kenya that could undo macroeconomic progress if unchecked. The study deploys a single equitation regression analysis followed by a series of robustness checks and a generalized method of moments (GMM) technique to analyze the link for Kenya, 1990-2023. The regression results show that debt in Kenya is not sustainable, with factors such as an increase in debt stock, high-interest rate costs, increase in budget deficits, inflation rate increase and high depreciation of the local currencies ultimately wiping out the repayment potential of Kenya. However, the results show that increased export revenue earnings and faster economic growth can improve budget resources for debt servicing. Our findings suggest that policymakers in Kenya should focus on fiscal consolidation by reducing non-interest expenditures and enhancing revenue collections.

An Examination on the Challenges Faced by Graduates from Higher Education Institutions with Regards to Student Loan Repayment Strategy in Eswatini (2013-2018)

The study sought to examine on the challenges faced by graduates from higher education institutions with regards to student loan repayment strategy in Eswatini (2013 – 2018). The researcher used the mixed methodology where face to face interviews, questionnaires and document analysis were the research instruments in the generation/collection of data. A representative sample of one hundred (100) participants were used in the study. Sampling techniques used were purposive and convenience. Findings from the study revealed that there were challenges which included the high-interest rates, lack of employment opportunities, inadequate financial literacy, and economic hardships. These challenges hindered the graduates to adhere on the loan repayment strategy as articulated by the government of Eswatini. Recommendations from the study were that there is need to adequately put measures in place on Loan Repayment Education Programmes for Employees, Flexible Work Arrangements to Facilitate Loan Repayment and Employer-Sponsored Loan Repayment Assistance Programmes in Eswatini so that it can deliver on its mandate on loan repayments by graduates within the stipulated timeframes.

The Impact of Capital Lease Implementation on Corporate Financial Statements: Theoretical Analysis and Case Studies

This article explores the concept of capital lease in accounting and its implications for a company's financial statements. A capital lease, also known as a finance lease, is recognized as both an asset and a liability on a company's balance sheet. This research discusses the differences between capital lease and operating lease, as well as their impacts on a company's financials. Through literature review and case study analysis, this article provides insights into the advantages and challenges companies face when implementing capital leases. The findings suggest that while capital leases strengthen balance sheets by recognizing assets and liabilities, they also affect profitability through higher interest and depreciation expenses. Proper understanding and management of these implications can help companies make more informed financing decisions.

Motivators and Barriers to Career Choices in Community Medicine Among Medical Students in South Punjab, Pakistan: A Cross-Sectional Survey.

Background Community medicine plays a vital role in public health, yet research on medical students' career choices in this field is limited, especially in underserved areas like South Punjab, Pakistan. This study explores the factors that influence undergraduate medical students' interest in pursuing a career in community medicine. Methodology A cross-sectional survey was conducted with 305 fourth- and final-year undergraduate medical students from various colleges in South Punjab. Data were collected via a structured online questionnaire, focusing on students' interests, motivations, barriers, and perceptions related to community medicine. Results The survey found that 40% of students showed interest in community medicine, with higher interest among females. Key motivators included preventive healthcare and public health initiatives, while financial constraints and unclear career progression were significant barriers. A gap was noted between students' interest and their perceived preparedness to address public health challenges. Conclusion Female students showed greater interest in community medicine and were more likely to recommend it. Bridging the gap between interest and perceived preparedness requires enhancing practical experiences, increasing the visibility of community medicine successes, and addressing financial and career progression concerns. Implementing these strategies can help attract and retain students in community medicine and improve public health outcomes.