Investment Savings Research Articles

Examining the Impact of Financial Literacy on Investment Behaviour and Demographic Factors in Bangalore

This study investigates the relationship between financial literacy, investment behavior, and demographic factors such as age, gender, education, and marital status among individuals in Bangalore. Utilizing a quantitative research design, data were collected through a structured questionnaire from 78 respondents. Descriptive statistics summarized demographic profiles and financial literacy scores, while inferential statistics, including ANOVA and chi-square tests, were used to test hypotheses. Results indicated significant relationships between age and savings, education and savings, financial literacy and investment returns, and education and investment returns. However, no significant differences were found in financial literacy scores across different investment behaviors, marital statuses, and savings levels. These findings underscore the critical role of financial literacy in shaping investment behavior and highlight the need for targeted financial education programs to enhance financial decision-making among diverse demographic groups in Bangalore.

Improving the potential of fifth-generation district heating and cooling networks through robust design and operational optimization under future energy market and demand uncertainties

Network investments and projected energy prices greatly impact the financial viability and environmental impact of fifth-generation district heating and cooling (5GDHC) networks. Compared to the previous generation, the upfront investment costs in 5GDHC networks are relatively high due to the decentralized energy demand and supply of the participating prosumers. The transition to 5GDHC is also hindered by uncertain energy markets and the fluctuating energy demands of the prosumers. It makes investors hesitant to commit, even for promising business cases. In this work, a framework is presented to assess the economic and environmental performance of a 5GDHC business case, based on a multi-objective robust optimization algorithm (MO-RDO), to identify the optimal trade-offs between environmental and economic designs. The proposed methodology consists of four steps. In the first two steps, a specific business case is modeled, and techno-economic and environmental performances are analyzed against uncertain energy markets. In the third step, the techno-economic and environmental indicator responses are used to develop a data-driven machine-learning model. This model offers better computational efficiency than a high-fidelity nonlinear model and assesses the most influential parameters driving economic and environmental performance via a global sensitivity analysis. This aids in refining the multi-objective robust design optimization (MO-RDO) framework by pinpointing key design variables and objectives amid data uncertainties. Additionally, the formulated MO-RDO provides a mix of environmentally and economically optimal network designs and operational parameters and highlights the trade-offs between them. The designs and trade-offs are evaluated using financial metrics like net present value (NPV), return on investment, and discounted payback period. These metrics are calculated over the project life, considering the initial investment and net savings. For the considered case, the environmental design has a 10% higher investment cost compared to the economically optimal solution but reduces total emissions (TE) by 13% and improves operational cost savings, which is crucial for better financial indicators. The proposed framework aligns with the EU transition plan to incorporate waste energy sources and decarbonization paths, estimating only a 3% increase in NPV as a risk for the environmentally optimal solution on a financial scale.

A Study on Benefits of Financial Planning of an Individual

this research examines the role of financial planning in promoting financial stability and success among individuals. Using a mixed-methods approach, this study finds that financial planning is positively associated with increased savings, wise investment decisions, and reduced debt. The results highlight the significance of financial planning in enhancing financial resilience and achieving long-term financial goals. This study investigates the benefits of financial planning for individuals, examining its impact on investment decisions, savings, and overall well-being. Keywords— promoting financial stability, investment decision, financial planning.

Evaluating the Environmental Impact of Reusing Baghouse Dust in Asphalt Concrete: A Sustainable Approach

The purpose of this study is to assess the environmental impact of reusing baghouse dust in asphalt concrete production. Baghouse dust, a byproduct of asphalt creation, presents natural removal challenges; nonetheless, its true capacity reuse in asphalt concrete could give an economical solution. This study aims to survey and align the environmental and ecological implications of utilizing varying extents of baghouse dust in asphalt mix combinations. This research review starts by describing the physical and chemical properties of baghouse dust. In this way, substantial samples were ready and prepared with various percentage rates of baghouse residue to examine the effect on the mechanical properties of the mix. The discoveries demonstrate that consolidating baghouse dust into asphalt cement mostly decreases peak stress and strength qualities characteristics. As far as the environmental and ecological effect, the investigation analysis shows that utilizing baghouse residue can decrease in general energy utilization and discharge emissions. The energy utilization rate diminished from 500 MJ/ton for ordinary conventional asphalt to 400 MJ/ton for asphalt with 20% baghouse residue, and CO2 emanations decreased from 120 kg/ton to 80 kg/ton for a similar correlation. Also, the squander and waste decrease was huge, with 200 tons/year saved at 10% baghouse dust and 400 tons/year at 20%. Asset resources proficiency likewise improved, with raw unrefined material savings investment funds of 150 tons/year at 10% baghouse dust and 300 tons/year at 20%. Notwithstanding this decrease, the mechanical properties stay within ranges for specific applications, proposing that baghouse dust residue can be effectively and successfully utilized in non-basic underlying structural layers of asphalts.

Determinants of Investment Intentions in Millennial Generation

Investment intention is inseparable from the information and literacy obtained so that it creates a perception because investing, in addition to generating returns, will also raise risks. For this reason, this study aims to look at the determinants of investment intention in the millennial generation. The related factors selected were financial literacy and risk perception. This research was conducted using a survey method through an online questionnaire. The sample in this study is the millennial generation with at least one type of investment (gold, stocks, bonds, savings, mutual funds, time deposits, forex, crypto assets, property, and others). Data were analyzed using regression analysis. The results of the study show that risk perception and financial literacy have a significant effect on investment intention. Keywords: investment intention, millennial generation, financial literacy, risk perception

Global Goods and Services Tax: A Macro-Economic Perspective

This article provides a comprehensive analysis of the global implementation of Goods and Services Tax (GST) to understand the diverse GST models adopted and examine their impact on key economic indicators. Through a detailed analysis of GST frameworks in selected countries such as Australia, Canada, India, Maldives, New Zealand and Singapore. The study analyses common trends and differences in tax structures, registration processes and the treatment of exempted goods and services. The findings of the study reveal a consistent pattern of increased tax revenue and GDP growth post-implementation of GST. Additionally, the study explores the impact of GST on trade dynamics, employment levels, foreign direct investment (FDI) inflows and savings rates across these nations. While the impact on inflation varies among the countries. Overall, the findings highlight the importance of well-planned implementation of GST as it is a crucial tax reform contributing to economic growth and stability on a global scale.

Advancing agriculture extension models in Africa: bridging the gap for effective delivery of technologies and innovations

Agriculture in Africa is undergoing transformative shifts, driven by the need for sustainable food production, increased productivity, and resilience to challenges such as climate change. This paper explores the current state of agriculture extension models in Africa and their role in delivering technologies and innovations to target beneficiaries and other stakeholders in agricultural innovation systems. We delve into key challenges, promising approaches, and recommendations for enhancing the effectiveness of extension services in the dynamic agricultural landscapes of Africa. The paper showcases innovative extension models by Sasakawa Africa Association that have made a significant impact. These include Farmer Learning Platforms (FLPs) model, Private and Extension Service Provision (PESP), The Agro-Processing Enterprise Center (APEC) Model, Community-Based Seed Multiplication (CBSM) model, private and extension service provision Model (PESP), and the community savings for investment in Agribusiness (CSIA) model. The Sasakawa Africa Fund for Education (SAFE) Demand Driven Curriculum (SDDC) model is also highlighted. These examples highlight the importance of context-specific approaches and the role of extension in empowering farmers to embrace sustainable and resilient agricultural practices. By addressing key challenges and leveraging opportunities, this paper aims to contribute to the sustainable development of agriculture in Africa. Key words: Agriculture extension models, Technology Adoption, participatory approaches, Innovation, Sustainable Development

Improving pension savings investing: The case of Russia

Many countries seek to improve their pension systems by introducing corporate and individual savings plans to address the challenges of demography, social security, and economy. However, the establishing of a long-term, reliable savings system encounters multiple impediments. The retrospective analysis of Russian pension reforms offers some recommendations on solving the typical problems faced by reformers. Thus, in 2002 the Russian pension system was implemented by a mandatory savings pillar, which 20 years later the Ministry of Finance substituted by voluntary savings­. As this period appeared shorter than the average life span, this measure proved ­ineffective in increasing pension payouts for future retirees. The frequent regulatory changes and the shrinking workforce coverage as the state prioritized the welfare of the current pension recipients also infringed upon the interests of future retirees. Pension savings investments were further affected by the economic policy aimed at the minimal return requirements which resulted in a more conservative asset allocation strategy and inefficient active management in non-state pension funds. The study demonstrates that policy actions to overcome these impediments and to raise the replacement rates for future retirees should include (a) steady regulations within a pension savings system of no shorter than 40 years; (b) the savings pillar covering no less than 80% of the workforce; and (c) the asset allocation strategy involving a bigger share of equity, longer time horizon and clear benchmarks. These recommendations can be applied to emerging market economies concerned with improving and reforming their pension systems.

The Main Determinants Affecting Economic Growth in Sri Lanka

Every country in the world is trying to create a self-sufficient economy through economic growth and economic development. The concept of economic growth is very important there. There are many determinants that a country must achieve in order to achieve economic growth. Accordingly, this study studied the determinants that determine economic growth in Sri Lanka. It considered how the determinants of Exports, Foreign Direct Investment Inflow, Savings and Population Growth affect economic growth. For that, the research was conducted using secondary data related to the period 1991-2020. The Ordinary Least Square (OLS) method was used to identify the relationship between the determinants used and economic growth. Accordingly, it was identified that the factors of foreign direct investment and savings have a positive effect on economic growth, and the factors of Exports and Population Growth have a negative relationship with economic growth. Accordingly, it is important to pay close attention to foreign direct investment and savings in Sri Lanka moving towards economic growth.

Real Effective Exchange Rate and Export Sophistication: A Dynamic Panel Data Analysis

In recent years, a new strand of the literature argued that not the quantity, but the quality of exports is at the core of economic growth and development. Therefore, strategies aiming to improve the quality of exports should be a major concern for policy makers. One of the most important policy tools that could affect exports and their quality is the real effective exchange rate. However, connections between the quality of exports and real effective exchange rate have not been fully explored. Based on a panel data of 57 countries for the years between 2005 and 2015, this paper investigates the relationship between export sophistication and real effective exchange rate. Using a novel database of export sophistication, taking into account two different real effective exchange rate indices and utilizing a dynamic panel data methodology, namely system GMM, this paper shows that an appreciation in real effective exchange rate improves the sophistication of exports. In addition, empirical results also show that the initial income of countries, foreign direct investment, human capital, and domestic savings positively affect export sophistication, whereas population growth decreases the sophistication of exports.

International Remittances, Human Resources Outflow & Economic Growth: Dynamic Regression Models

The article presents an econometric analysis of the impact and elasticity of human resources outflow and remittance with economic growth in Ukraine. It is proved that remittance (1) has a direct relationship with economic activity rate, (2) a cyclical and multiplicative relationship with the inflationary process, and (3) an indirect effect on capital investment. It has been established that migration favorably affects the financial well-being of households and is an effective measure for accumulating investment capital and savings. The trigger for economic growth in the vector of ‘migration – remittance’ is the development of the migration capital market by increasing the investment capacity of remittance’, ensuring the target remittance orientation to the small and medium-sized business sector, guaranteeing market stability (security of remittance) and developing financial inclusion.

Level of Education and Savings Mobilization among Women Groups in Kisii County, Kenya

Investments by firms ultimately benefit the nation through higher productivity and economic growth. The role of savings in investment and, therefore, in the development of a country cannot be exaggerated. In developing countries like Kenya, most of the savings are done by households. High savings can also hedge countries against economic downturns and financial crises. One of the avenues to boost national savings is by encouraging individuals to increase personal savings. In this study, the behavior of women savings in Voluntary Saving Groups, which are self-help women groups in Kisii county, was examined. The purpose of this study was to find out whether the level of education can influence savings mobilization among self-help women groups in Kisii County for economic growth in Kenya. The study was guided by psychological and sociological theories, which propose that an individual's changes in resources over time and the influence of education, among other factors, have an influence on savings. The study will be beneficial to groups on savings as well as policymakers who come up with regulations concerning savings through groups. The study used the descriptive survey design and the target population was 1,482 group members of the various self-help women groups in Kisii County, from which a sample of 165 was obtained. The study revealed that the level of education is a serious contributor to saving decisions among women in self-help groups, thereby influencing savings mobilization among themselves.

INVESTMENT OF HOUSEHOLD SAVINGS IN CONTEXT OF THE INFLUENCE ON FUNCTIONING OF PUBLIC FINANCES IN THE CONDITIONS OF THE WAR

Introduction. In the current extremely difficult financial and economic realities associated with Russia’s full-scale military invasion of Ukraine, studies of household savings as one of the potentially important sources of investment resources needed to end the war and further restore the national economy are of utmost importance. Therefore, the problems of active transformation of such savings into investments with the help of modern financial instruments operating in the financial market of Ukraine (primarily domestic government bonds and military bonds), which in the conditions of a full-scale war can become a significant resource for the development of public finances in general and support of the Armed Forces of Ukraine in particular, remain important. The purpose of the article is to study current trends in the investment of savings of domestic households in the context of a full-scale war and the impact of innovative instruments of such investment on the development of public finance in Ukraine. Results. The article analyzes the pragmatics of investing accumulated savings by Ukrainian households in the context of their impact on the development of public finance in the context of a full-scale war, identifies the advantages and disadvantages of each of the investment instruments under consideration and emphasizes the need to increase the level of financial literacy of Ukrainians in the context of the development of state-creating financial patriotism of the nation. Conclusions. Identification of the key advantages and potential risks of investing household savings during a full-scale war made it possible to substantiate the significant impact of such investment on the functioning of public finance in Ukraine and to justify the directions of intensification of investment processes at the level of domestic households in the current conditions.

Analyzing the Impact of Foreign Capital Inflows on Domestic Savings in Pakistan: A Comprehensive Time Series Investigation

This research delves into the ramifications of foreign capital inflows on domestic savings within the context of Pakistan. Utilizing annual time series data spanning from 1972 to 2022, this study employs the Auto Regressive Distributed Lag (ARDL) methodology alongside causality analysis. The findings underscore that factors such as labor force participation rate, gross fixed capital formation, deposit interest rate, foreign direct investment, trade, GDP growth, and foreign remittances exert a favorable influence on gross domestic savings over the long term. Conversely, variables encompassing age dependency, external debt stock, and net official development assistance exhibit a detrimental impact on gross domestic savings. Furthermore, the outcomes derived from the Granger causality test reveal the absence of causal relationships between foreign direct investment, remittances, trade, external debt, and gross domestic savings. Notably, unilateral causality is identified solely between net official development assistance and gross domestic savings.

Analyzing the Impact of Foreign Capital Inflows on Domestic Savings in Pakistan: A Comprehensive Time Series Investigation

This research delves into the ramifications of foreign capital inflows on domestic savings within the context of Pakistan. Utilizing annual time series data spanning from 1972 to 2022, this study employs the Auto Regressive Distributed Lag (ARDL) methodology alongside causality analysis. The findings underscore that factors such as labor force participation rate, gross fixed capital formation, deposit interest rate, foreign direct investment, trade, GDP growth, and foreign remittances exert a favorable influence on gross domestic savings over the long term. Conversely, variables encompassing age dependency, external debt stock, and net official development assistance exhibit a detrimental impact on gross domestic savings. Furthermore, the outcomes derived from the Granger causality test reveal the absence of causal relationships between foreign direct investment, remittances, trade, external debt, and gross domestic savings. Notably, unilateral causality is identified solely between net official development assistance and gross domestic savings.

A PGSELU-DENN and CMDMO based heat transfer enhancement in Mylar plate heat exchanger

In many industrial applications, Plate Heat Exchangers (PHEs) have been widely applied. For energy conversion and the improvement of the system economy via savings in capital investment, improving the thermal-hydraulic performance of PHEs is of crucial significance. Therefore, a number of researches were conducted on the PHEs to enhance Heat Transfer (HT). But those researches didn’t provide a satisfactory design for all the types of plates. Among those, the Mylar plate is considered, which is highly demanded than other plates. Considering the Mylar plates, the article proposes a thermal and hydraulic optimization of a Mylar Plate Heat Exchanger (MPHE). The objective of the proposed work is to improve the HT between two Mylar plates to preserve, increase, or decrease temperature in a wide variety of circumstances. Initially, by utilizing the parameters attained from the Computational Fluid Dynamic (CFD), the meta-model is created. Next, by employing the Newton Raphson with Gaussian Scaled Exponential Linear Unit-based Deep Elman Neural Network (NRGSELU-DENN) algorithm, the initial trial has been performed to mismatch prediction with the generated model. With the help of the Cauchy Mutated Dwarf Mongoose Optimization (CMDMO) methodology, the optimal design has been developed when there is a mismatch betwixt the pressure levels. Pressure Drop (PD), total cost, uniform heating, HT coefficient, and HT area are the multi-objective functions considered in this research work. Finally, to assess the effect of the parameters of MPHE on thermal and hydraulic performance, a simulation analysis was conducted. During the assessment, the mismatch is predicted between the pressure levels by the proposed model with 94.77% accuracy and 90.45% precision. The outcomes displayed that, when analogized with the common Heat Exchangers (HEs), the MPHE’s thermal efficiency is increased.

Oil spill bioremediation strategies in Brazilian tropical seawater—The role of polycyclic aromatic hydrocarbons degradation

AbstractFor this research, a 28‐day bioremediation experiment was conducted, simulating an oil spill on the Brazilian coast using mesocosm units and two different bioremediation strategies, adding rate‐limiting nutrients in the form of NPK fertilizer during the first four days (Bior1) and weekly (Bior2). The gas chromatography–mass spectrometry analysis results showed that oil natural degradation (Control) removed 33.8 wt.% of the alkanes on Day 7, while bioremediation processes plus evaporation in Bior1 and Bior2 contributed to minimizing alkanes in 83.4 and 80.8 wt.%, respectively. Bior1 strategy also accelerated the biodegradation of recalcitrant polycyclic aromatic hydrocarbons (PAH) such as phenanthrene, methyl phenanthrenes, and methyl dibenzothiophenes up to the second week when compared to Bior2. Low‐cost NPK fertilizer addition demonstrated efficiency in the bioremediation strategy, especially in the first days of the simulated oil spill (Bior1), leading to savings in time and financial investment in recovering an oil contaminated area. Results also showed the efficiency of the oil‐degrading bacteria Pseudomonas mesophilica, identified for the first time in Brazilian seawater. In addition, results confirmed the influence of tropical temperatures over oil natural natural degradation and bioremediation as an oil spill cleanup solution for recovering contaminated areas in tropical countries, especially in sensitive marine environments.

Conservation of rural human resources in Ukraine: modelling the relationship between migration and economic development

Purpose. The article aims to identify the relationship between migration (in the context of two channels – (1) human resource outflows and (2) remittance inflow) in rural areas and the economic development; justification of measures of preserving rural human resources in rural areas in Ukraine.
 Methodology / approach. The methodological tools of the study are the construction of lag econometric models that allow identifying the influence of migration flows on key parameters of economic development, as well as the calculation of elasticity coefficients.
 Results. It is determined that high international migration in Ukraine, especially from territories with a lower quality of life, remote from regional centers, leads to increase human resource outflow in rural areas, which accelerates the rate of their socio-economic degradation and extinction, respectively, does not contribute to balanced spatial development. The positive impact of migration on economic development has been identified, in particular, migration contributes to improving the financial well-being of households, is an instrument for accumulating investment capital and savings, developing small businesses, and enhancing financial inclusion. It is proved that to preserve the human resources of rural areas in Ukraine, it is necessary to implement a proactive policy aimed at balancing the labour market of communities, simplifying the principles of conducting and reducing the risks of small business, increasing the young re-emigration, improving investment capital, increasing the competitiveness of the educational sphere at the local level.
 Originality / scientific novelty. A new scientific and methodological approach to assessing the dependence of the parameters of development of rural areas on migration processes due to two channels – human resources and remittance has been developed, complementary analysis of which makes it possible to identify the complex impact of migration on the socio-economic development of territories, optimal and critical volumes of migration according to various structural characteristics, migration gaps in the development of the economic system and social spheres of rural areas depending on the level of migration activity and the effectiveness of using the potential of remittance.
 Practical value / implications. The practical significance of the research results lies in the development of tools for forecasting and planning the state policy of preserving human resources of rural areas in Ukraine, depending on migration aspirations and the purposefulness of remittance.

ANALYSIS OF FINANCIAL DETERMINANTS OF URBAN COMMUNITY INTEREST IN HAJJ: STUDY OF THE BUGIS TRIBE IN MAKASSAR AND MANADO

The urge of the Bugis community to carry out the Hajj pilgrimage is increasing, particularly in the cities of Makassar and Manado. This is because in urban areas the Hajj pilgrimage is a cultural priority for the community. The ability to carry out the Hajj pilgrimage is measured by financial determinants including asset value, savings investment, income level, and religious understanding. This research is intended to analyze the influence of asset value, savings investment, and income level on interest in Hajj by involving religiosity as a mediating variable in the Bugis community in the cities of Makassar and Manado. This research followed a quantitative approach by collecting data through questionnaires. The population in this study was the entire Bugis community who are living in Makassar and Manado, while the sample was taken according to the sample selection criteria of 607 respondents. The data analysis technique used is path analysis with the help of AMOS (Analysis of Moment Structure) software. The results of this research show that the value of assets does not have an influence on the interest in Hajj of the Bugis community in Makassar and Manado, however, the value of assets and investment savings has an influence on the interest in Hajj of the Bugis community if the religiosity variable is involved as a mediating variable, while the level of income has no influence on interest in Hajj by the Bugis community in Makassar and Manado. The novelty of this research is connecting multiple variables with the Hajj interest variable using the religiosity variable as a moderating variable by creating a new pattern by testing competitive theory. The implication of this research is the increase in the number of registrants or Hajj portion numbers because it is supported by investment savings available from banking products.

Influence of reduced drag load on stay cables on the construction cost of cable-stayed bridges: Two study cases

Rain–wind–induced vibrations (RWIVs) can cause the large-amplitude vibration of flexible cables in cable-stayed bridges; such vibration is one of the engineering safety problems that must be resolved. Currently, aerodynamic measures, such as dimples and spirals, are typically used as measures for suppressing vibration in stay cables. By calculating and comparing the equivalent static wind loads (ESWLs) of six typical cable-stayed bridges, the proportion of ESWL acting on the cable to that acting on the entire bridge increases approximately linearly with the bridge span. Hydrophobic coating can effectively suppress RWIVs and evidently relieve the ESWL. Hence, compared with the commonly used aerodynamic measures with surface roughness, this coating has a considerable potential as an alternative for suppressing vibration. Based on the foregoing, the wind resistance design optimization of two actual cable-stayed bridges with main spans of 420 and 1160 m is implemented to investigate the construction costs of cable wind load reduction. After optimization, the structural responses of the main towers are reduced by 4%–12%, and the optimized tower and foundation sizes are reduced by 5%–8%. The optimization for the two bridges exceed 5% and 7%, respectively. The construction investment savings are approximately 2.3 million and 7.2 million USD, respectively. These values further improve with increasing bridge span and design wind speed.