Wealth Research Articles

The decision making criteria of a rational investor on the example of an investment portfolio analysis of listed companies and a basket of currencies

In today’s globalized world, investing is a key financial management strategy related to the hope of obtaining future economic benefits. Access to more and more information has created new opportunities for wealth creation, including investments in stocks, cryptocurrencies, gold, real estate and many other assets. The work emphasizes the importance of investing and diversifying the investment portfolio, especially in periods of inflation, using the example of a portfolio of listed companies compared to a currency portfolio. The study covers the period from December 2019 to December 2020, and the analysis aims to estimate the rate of return on investment based on the Markowitz and CAPM theories. The presented analysis method is applicable both in the academic environment and in real economic scenarios, encouraging further research on investments.

Farming practices, varietal preferences, and land suitability analyses for yam production in Eastern D.R. Congo: implications for breeding initiatives and food sovereignty

Yam (Dioscorea spp.) is a key tuber crop in sub-Saharan Africa (SSA) with huge potential for poverty alleviation, food sovereignty, and nutrition security. Exploiting its full potential requires that factors holding it down are understood and mitigated. This study, conducted between May and July 2022 and 2023, assessed yam farming practices, varietal preferences, and land suitability in the Eastern Democratic Republic of Congo (DRC). We interviewed 765 smallholder farmers within four agro-ecological zones (AEZ) to assess the sociocultural, agronomic, varietal, and biophysical factors affecting yam production. Land suitability analyses were conducted using the Analytic Hierarchy Process (AHP) to identify areas suitable to extensive yam production and to cluster environments that could optimize yam varietal selection and testing. Results showed that yam is mainly cultivated by women in eastern DRC (70%). The seed delivery system is informal, relying primarily on farmer-saved seeds and farmer-seed exchanges (74.9%). Soil depletion (68.3%), limited access to high-quality seeds (54.5%), youth disengagement in yam value chain (50.3%), insect pests (17.9%), and short tuber shelf-life (65.8%) were, respectively, the main ecological, agronomic, sociocultural, biological, and tuber quality factors hindering yam production in eastern DRC. However, the perceived importance of most factors significantly varied with farmer gender and age categories. A multitude of varietal traits was used to assess yam varieties in eastern DRC, of which the tuber taste (59%) was the most valued trait regardless of gender and age categories, though it had highest scores among middle-aged adult women. Land suitability analyses discriminated five clusters; the most significant part of the region falling under suitable (27%), highly suitable (24%), and very highly suitable classes (37%). We further discussed how breeding initiatives for delivering yam varieties, suiting local producers’ and end-users’ needs, could unlock the crop’s potential for enhancing food security and wealth creation in eastern DRC. The land suitability map from this study is a valuable decision-making tool in defining priority areas for extensive yam production and varietal selection and testing. This study provided valuable insights on factors affecting yam production and suggested yam breeding as a backbone of a holistic approach seeking to address challenges faced in unlocking the potential for yam production in eastern DRC.

The Evolution of Redlining in the United States Housing Market

This article explores the lasting effects of redlining in the United States on wealth creation and economic opportunity. Due to rising mortgage rates and low supply, housing costs are growing. Redlining is the practice of discrimination in the homebuying and lending market that resulted in significant housing inequality. While illegal since the 1970s, redlining has not disappeared but rather evolved. Institutional economics provides a framework to understand the history, consequences, and solutions to modern redlining that can generate greater housing equality in the United States. This article uses the latest Federal Reserve Bank’s Survey of Consumer Finances (2023) data to analyze the size and effects of housing inequality resulting from redlining practices and what groups are most affected. From these empirical findings, public policy solutions are presented to create a more financially stable and equitable housing market.

SENSE: Hyperspectral video object tracker via fusing material and motion cues

Hyperspectral video offers a wealth of material and motion cues about objects. This advantage proves invaluable in addressing the inherent limitations of generic RGB video tracking in complex scenarios such as illumination variation, background clutter, and fast motion. However, existing hyperspectral tracking methods often prioritize the material cue of objects while overlooking the motion cue contained in sequential frames, resulting in unsatisfactory tracking performance, especially in partial or full occlusion. To this end, this article proposes a novel hyperspectral video object tracker via fusing material and motion cues called SENSE that leverages both material and motion cues for hyperspectral object tracking. First, to fully exploit the material cue, we propose a spectral-spatial self-expression (SSSE) module that adaptively converts the hyperspectral image into complementary false modalities while effectively bridging the band gap. Second, we propose a cross-false modality fusion (CFMF) module that aggregates and enhances the differential-common material features derived from false modalities to arouse material awareness for robust object representations. Furthermore, a motion awareness (MA) module is designed, which consists of an awareness selector to determine the reliability of each cue and a motion prediction scheme to handle abnormal states. Extensive experiments are conducted to demonstrate the effectiveness of the proposed method over state-of-the-arts.

The quality of life for students pursuing humanities disciplines and individuals living with HIV during the second wave of the COVID-19 pandemic in Russia

IntroductionThe COVID-19 pandemic has had a significant impact on people’s lives, affecting various aspects of society and potentially altering the quality of life of certain groups. The World Health Organisation defines quality of life as an individual’s physical, psychological, emotional, and social health as perceived by themselves in relation to society. It appears that the pandemic disproportionately affected the most susceptible societal segments, comprising university students who encountered significant stress due to the shift to remote learning, and individuals living with HIV who faced difficulties in accessing medical assistance.ObjectivesThe study aimed to investigate the quality of life of students studying the humanities disciplines and HIV patients during the second wave of the COVID-19 pandemic in Russia.MethodsData collection was conducted from January to July 2021, using a Google form developed by the researchers. The study included 35 students from Russian universities studying humanities specialities and 59 HIV-positive patients. To check the quality of life, we used the WHOQOL-BREF questionnaire, adapted for use in Russia.ResultsWe found that on the domains “physical and psychological well-being” (M = 20.26±3.89 - students, M = 21.43±3.62 - patients, p = 0.144) and “self-image” (M = 19.11±3.53 vs M = 19.52±2.92, p = 0.553) respondents from the two groups did not differ from each other. The domain “microsocial support” was more pronounced in students than patients (M = 10.71±2.48 vs M = 9.17±2.96, p = 0.011). A similar situation was observed in “social well-being” (M = 27.23±4.33 vs M = 24.97±5.24, p = 0.034).ConclusionsDuring the second wave of the COVID-19 pandemic in Russia, individuals living with HIV experienced a lower quality of life compared to students in humanities disciplines. Individuals living with HIV reported lower satisfaction with their relationships within their immediate environment, including family and friends, as well as their overall social well-being, encompassing factors like safety, material wealth, access to medical care, and transportation. In these pandemic conditions, it became evident that individuals with HIV required more extensive social support measures than students.Disclosure of InterestNone Declared

P. B. Shelley, George William Tighe, and the Irish Roots of ‘The Sensitive-Plant’

This essay investigates the literary exchanges between the Irish poet and agronomist George William Tighe and Percy Bysshe Shelley in Pisa, where the former lived with Margaret King Mount Cashell, alias ‘Mrs Mason’, a radical Irish writer and former pupil of Mary Wollstonecraft. After moving to Pisa in 1820, Shelley began daily visits to the Mason-Tighe household, sourcing from Tighe's library a wealth of reading material on agricultural chemistry and botany, alongside Irish political and historical titles. Tighe's previously unexamined papers showcase his interests in Irish and Italian literature, republicanism, botany, and agriculture and reveal his links with the Lunar Society of Birmingham. Taking as a case study the first poem Shelley composed in Pisa, I argue that Tighe's agricultural pursuits shaped Shelley's political and botanical imagination in ‘The Sensitive-Plant’ and exerted a significant influence on Shelley's later poetry as a whole.

Socio-demographic characteristics of patients with negative and positive symptoms in schizophrenia

Schizophrenia is a severe mental disorder that leads to impaired social adaptation, interpersonal interaction, and disability. Negative symptoms are an integral part of schizophrenia. In the world psychiatric science and practice, there are still many questions about the typology of schizophrenia, the description of its clinical manifestations, first of all, the features of negative symptoms in schizophrenia. Psychiatrists of different countries draw attention to the fact that these descriptions do not always coincide. Socio-demographic factors can be considered as factors affecting the prognosis of the course and outcome of schizophrenia. In this regard, a comprehensive approach to the study of socio-demographic characteristics of patients with schizophrenia involves the study of the influence of social factors on the formation and course of schizophrenia and determines the relevance of this study. The purpose of the study was to determine the features of socio-demographic characteristics of patients with schizophrenia in order to improve diagnosis and create psycho-corrective measures. 252 patients with negative symptoms of schizophrenia and 79 patients with positive symptoms of schizophrenia were examined. During the research, a comprehensive approach was used, consisting in the use of clinical-psychopathological, clinical-anamnestic and statistical research methods. Socio-demographic features of patients with negative symptoms in schizophrenia were established, consisting in the predominance of women; patients aged 20-29 years; persons with special secondary education; divorced and single persons; patients busy with physical labor; average level of material wealth; very poor and poor living conditions. Socio-demographic characteristics of patients with positive symptoms in schizophrenia were outlined by the predominance of men; patients aged 30-49 years; persons with incomplete higher education and with higher education; divorced and single persons; patients with disabilities; with extremely low and low levels of material well-being and a satisfactory level of living conditions. The conducted research made it possible to draw conclusions that socio-demographic features of patients with negative and positive symptoms have their own specificity, which should be taken into account when diagnosing patients with schizophrenia.

Personal Wealth, Risk Tolerance, and Stock Allocation: A Markov Chain Approach

Personal Wealth, Risk Tolerance, and Stock Allocation: A Markov Chain Approach

Cooperative Society: A Veritable Tool for Wealth Creation and Poverty Alleviation in Bayelsa State

Concerns have also been raised about cooperative organisations' efforts to reduce poverty and generate wealth in the communities in which they operate. Most cooperatives fail to achieve their goal of enhancing members' financial security and well-being, which ultimately results in their dissolution. Thus, this study looked at how cooperative societies in Bayelsa state contribute to wealth development and poverty reduction. In order to accomplish its goals, the study employed a survey research methodology with a structured questionnaire, which was analysed using chi-square and basic descriptive statistics. The study's findings showed that cooperatives help members acquire assets both directly and indirectly (in the form of cash or in kind). The support of cooperative society has enabled the acquisition of a variety of assets, including buildings, cars, gadgets, and land. This helped each member achieve their needs for safety and physiology while also improving the people's economic situation. Members who gained assets after they satisfied their fundamental needs were able to transcend extreme poverty. Asset acquisition is a physical economic progress. Here, cooperatives function as both major contributors to and agents of poverty alleviation. Therefore, in order for cooperative society activities to continue having a good influence on the livelihood of its members in Bayelsa state, it is advised that they be appropriately governed by the government and the relevant agencies.

Modelling Wealth and Wealth Inequality in Bulgaria

This paper analyses net wealth and net wealth inequality determinants in Bulgaria, for the 2000-2020 period. The econometric results suggest that the introduction of corporate and individual flat tax rates in 2007 and 2008 contribute to households’ net wealth creation but have no significant association with inequality variables. Interest rates on mortgage loans, cost of debt, budget surpluses and inflation have a negative association with wealth, while the value of houses, arable land, equity, interest income, budget deficits contribute to net wealth growth. The top percentile increases its wealth share supported by the value of houses, equity and positive current account to Gross Domestic Product (GDP) values, however the cost of debt and GDP per capita are in a negative association with top percentile inequality. The bottom half of the population increases its wealth share with higher GDP per capita values and higher consumer loans rates, however inflation affects it negatively. Inflation and investment income are in a positive association with the Gini coefficient, while interest rates on consumer loans, cost of debt, GDP per capita, Government revenues, dividend income, equity, and the value of houses reduce inequality.

Long-term impacts of a cash plus program on marriage, fertility, and education after six years in pastoralist Kenya: A cluster randomized trial

BackgroundPreventing early marriage by increasing girls education has shown promise. We assessed the effects of a two-year cash plus program on marriage and fertility in a pastoralist setting in Northeastern Kenya, six years after it began. MethodsA prospective 80-cluster randomized trial followed 2,147 girls 11–14 years old starting in 2015, re-interviewing 94.2% in 2021. Interventions included community dialogues (violence prevention), a conditional cash transfer (education), health and life skills training (health), and financial literacy (wealth creation). Villages were randomized to one of four study arms: (1) violence prevention only (V-only); (2) + education (VE); (3) + health (VEH); or (4) + wealth creation (VEHW). We used analysis of covariance to estimate intent-to-treat impacts of each study arm with an education component, as well as a pooled (weighted average) study arm combining VE, VEH and VEHW, in reference to V-only, four years after the intervention ended when girls were 17–20 years old. FindingsBase specification estimates show reductions in the primary outcomes, though none statistically significant in the full sample. Estimates with extended controls are larger and the pooled study arm had significantly lower marriage and pregnancy. There are considerably larger statistically significant effects for the baseline out-ofschool subsample. Pooled estimates indicate 18.2 percentage point lower marriage compared to V-only and 15.1 percentage point lower pregnancy. For the same group pooled estimates indicate a 27.9 percentage point increase in current enrollment (compared to 7.1% in V-only) and a 1.8 grades increase (compared to 1.2 in V-only). ConclusionThis study shows the potential for interventions in early adolescence with an education component to delay marriage and fertility into late adolescence and early adulthood in a marginalized and socially conservative setting with low education and high rates of child marriage.

Do New Urbanization Policies Promote Sustainable Urbanization? Evidence from China’s Urban Agglomerations

China’s urbanization has received as much attention as its economic growth in recent years. While rapid urbanization has promoted modernization and wealth creation, it has also brought many problems and challenges. So, since 2014, the Chinese government has implemented a new urbanization policy nationwide. However, few researchers have examined whether China’s new urbanization policies promote sustainable urbanization. This paper evaluates the sustainable urbanization of 19 urban agglomerations in China using the elastic coefficient. The results indicate a significant increase in the number of cities achieving sustainable urbanization since the implementation of China’s new urbanization policy. The number has risen from 46 in the period of 2010–2015 to 71 in the period of 2015–2021. Considering the impact of the new coronavirus on economy, there would have been even more cities entering sustainable urbanization during the latter period. This indicates that the new urbanization policy has a positive influence on the sustainable urbanization of China’s urban agglomerations. The sustainable urbanization status is not static and changes with different policies that are implemented in different time periods. Therefore, it is important to find useful policies that can guide and enhance the urbanization process in these cities. In addition, cities that have a sustainable urbanization status are not perfect. To address this issue, it is important to categorize and implement targeted policies for cities experiencing both sustainable and non-sustainable urbanization. Changes in a city’s size or urbanization rates are not related to the city’s sustainable urbanization status. A larger city size does not indicate sustainable urbanization, and, similarly, cities with faster urbanization rates do not exhibit a higher level of urbanization sustainability.

More green, less labor gains? Green factory and labor income share in China

Green Manufacturing, a pivotal aspect of green transformation, carries high expectations for its potential role in wealth creation and equitable distribution. This paper investigates whether the growth dividend resulting from Green Manufacturing benefits workers. Leveraging the “Green Factory” list released in 2017 and subsequent years as a quasi-natural experiment, we apply a time-varying difference-in-differences methodology to analyze the income distribution effects of Green Manufacturing. Our findings reveal that Green Manufacturing significantly boosts labor productivity within companies but does not notably impact worker wages, leading to a decline in the labor income share. Furthermore, we show that alleviating financing constraints and fostering green innovation are two prominent operating mechanisms, while human capital upgrading shows negligible effects. Overall, the evidence suggests that the growth dividends stemming from Green Manufacturing do not evenly benefit all input factors.

Spillover effects of microcredit on the GDP of surrounding cantons in Ecuador

PurposeThe aim of this paper is to analyse the spillover effects of microcredit on the economy of Ecuador, with a particular focus on its potential as a poverty alleviation mechanism.Design/methodology/approachTo address our research questions, we take into account the distance between cantons (Ecuador’s own administrative distribution) by adopting a spatial autoregressive (SAR) model. To this end, a database will be constructed with macroeconomic information about the country, broken down by canton (administrative division of Ecuador), and in a 2019 cross section, with a total of 1,331 microcredit operations in all 221 of Ecuador’s cantons.FindingsWe find a positive effect of microcredit on these neighbouring regions in terms of wealth generation.Research limitations/implicationsWe acknowledge that this study is limited to Ecuadorian cantons. Nonetheless, it is crucial to emphasize that focussing on an under-represented developing country like Ecuador adds significant value to the research.Practical implicationsFacilitating access to microcredit is one of the main solutions to address the goals proposed in the sustainable development goals (SDGs).Social implicationsMicrocredit activity contributes to the creation of value and wealth in Ecuador, exerting a spillover effect in neighbouring areas that can generate positive multiplier effects and alleviate poverty. For all of the above reasons, our proposal for the country is to support and promote microcredit as one of the main solutions to address the goals proposed in the SDGs.Originality/valueThe novelty of this study lies in the use of spatial econometrics to observe the indirect effects of microcredit on the regions bordering the canton in which it was issued, thus examining the spatial effects of microcredit on wealth distribution.

ASIA-PACIFIC FREE TRADE AGREEMENT, REGIONAL ECONOMIC INTEGRATION AND MONGOLIA

Mongolia is believed to have great potential for simultaneous integration in many fields. Our natural resources and geographical location, such as having only two neighbours, being in the middle of two large markets, and having no direct border with a third neighbour and landlocked situation, can be considered an opportunity. Mongolia's economy needs an easily accessible market to process and sell its natural resources, which are considered crucial in the near future. Interest in purchasing Mongolia's raw material wealth is not limited to the US and the EU. The most interesting sales market is that in the coming years, economic development growth will be higher than that of the USA and the EU. For us, Japan, South Korea, and ASEAN countries, which are close by road and can be reached just around our "nose fence", and especially is a region that includes China. Another aspect is that Mongolia is geographically located in the centre of Northeast Asia, i.e. in the heart of it, which not only separates Russia's raw material and energy markets from China's production (China is now Russia's largest trade partner and (which is changing) is also geographically positioned as a bridge between China's industrialised northeastern provinces and the relatively less developed northwestern provinces. Of course, at the moment, Mongolia lacks the necessary funds to modernise and expand transportation and energy infrastructure. However, in the end, it leads to the conclusion that only regional integration will create significant real economic and political opportunities in the future of Mongolia.

Too much incentive to innovate? CEO stock option exercise and myopic R&D management

AbstractInnovation is a key driver of firm success. To encourage innovation, firms often offer equity‐based compensation, such as stock options, to better align CEOs' personal interests with shareholder value. Drawing on agency theory, we argue that stock options may not always benefit a firm by encouraging innovation. Instead, we demonstrate that CEOs intending to exercise their stock options have the incentive to be myopic in R&D management so that they can temporarily boost the stock price and, thus, increase their personal wealth. Using a unique multi‐source dataset of 335 Standard & Poor 500 companies from 2007 to 2015, we find evidence supporting this argument. Moreover, the findings suggest that factors that can affect the perceived pressure to promote innovation by CEOs might reshape the association between stock option exercise and myopic R&D management. For example, power resulting from CEO duality decreases the perceived pressure to promote innovation, which increases the likelihood of CEOs engaging in myopic R&D management when exercising their stock options. However, when shareholders present a long investment horizon or when firms have high innovativeness, CEOs perceive more pressure to promote innovation and thus are less likely to opt for myopic R&D management while exercising stock options. The findings provide important insights for better understanding and controlling managerial myopia in innovation management.

Demographic and Sociocultural Determinants of Financial Literacy in South Africa

Financial literacy is rapidly becoming more important as financial markets continue to evolve and new and more complex financial products are introduced. This study investigates the relationship between demographic and sociocultural variables and the level of financial literacy of individual investors in South Africa. This study is significant as it provides policymakers with target areas to provide incentives towards financial education programmes. Secondary data were obtained from a private domain where a private investment company collected primary data using an electronic quantitative survey. The sample consisted of 1, 059 individual investors. The study found that people over 50 years of age, men, whites, people with common-law spouses, and people who owned homes without a mortgage payment reported the highest degree of financial and investment knowledge. Groups that reported a low degree of financial and investment knowledge were individuals between the ages of 35 and 49, females, coloureds, divorced individuals, and individuals living with relatives. Health status and education were positively correlated with the financial and investment knowledge of individual investors. Policymakers should aim to target the groups identified by the study that show a low degree of financial literacy with financial education to promote wealth creation, which could benefit the economy by promoting investment and economic participation while simultaneously trying to address structural issues such as poverty and inequality.

The Rise of Fintech: A Performance Analysis of Retail Mobile Stock Trading Platforms in India

The financial landscape in India is undergoing a significant transformation propelled by the rise of fintech solutions, notably mobile stock trading apps. These platforms have revolutionized the investment sector by eliminating traditional barriers and providing users with real-time market data, streamlined trading processes, and cost-effective brokerage services. The widespread adoption of mobile trading apps has resulted in a substantial surge in demat accounts and trading volumes, enhancing market liquidity and accessibility for a broader demographic. However, this rapid expansion underscores the importance of implementing robust regulatory measures to protect investors and uphold market integrity. As the fintech industry continues to evolve, it is imperative for stakeholders to prioritize financial literacy initiatives, responsible investing practices, and technological advancements to sustain growth and promote inclusive wealth creation. By leveraging innovative technologies and fostering a culture of informed investing, mobile trading apps have the potential to drive financial inclusion and empower individuals across diverse socioeconomic backgrounds to participate actively in the financial markets. Keywords: fintech, mobile trading apps, financial inclusion, regulatory measures, market integrity

The relationship between mental well-being and wealth varies by wealth type, place and sex/gender: Evidence from Namibia.

This paper explores the impact of livelihood strategies and place on mental well-being. Identifying different socioeconomic factors that impact mental well-being across contexts is pressing given the global rise in mental health disorders. Numerous studies in the population and social sciences have emphasized the protective role of material wealth on human health and well-being; however, scholars frequently assess wealth as a one-dimensional variable, which may fail to capture diverse forms of wealth. Acknowledging different forms of wealth may be particularly important in settings where agricultural economies coexist with cash economies. Using data from the 2013 Namibia Demographic Health Survey (n = 13 377), we use a newly developed measure of success in agricultural activities, an agricultural wealth index, or AWI, generated by Hackman et al., (2021). To examine the role of different forms of wealth on mental health symptoms. We find mental well-being, assessed through three survey questions, is lower among urban dwellers and females and shows varied associations with wealth type and sex/gender. In general, success in agricultural activities is associated with better mental well-being, while the association with market success is null or and conditional upon sex/gender and place. This study adds to recent work on the value of using multidimensional measures of wealth and raises important questions about why wealth type and sex/gender differentially impact mental well-being.

Material Wealth or Wealth of Time and Culture? Lessons from Australian Aboriginal Economy for Catholic Social Teaching

This paper will explicate ways in which Aboriginal Australian economy can inform, augment, and vindicate Catholic social teaching and related scholarship on work, the use of technology, and leisure. Collaterally, Aboriginal Australian economy gives an example of what could happen if key parts of Catholic social teaching were to be implemented concretely. That is, we can argue that Aboriginal economy gives an indication of what a society would be like if it adopted these parts of Catholic social teaching.