scholarly journals An empirical study on how financial literacy contributes to preparation for retirement

2020 ◽  
pp. 1-23
Author(s):  
Tsung-ming Yeh
Keyword(s):  
Decision Making ◽  
Empirical Study ◽  
Empirical Evidence ◽  
Information Search ◽  
Financial Literacy ◽  
Decision Making Process ◽  
Process Information ◽  
Behavioral Biases ◽  
Positive Effects ◽  
Financial Products

Abstract This study provides empirical evidence on the mechanisms through which financial literacy may be associated with saving for retirement, in the three phases of the decision-making process – information perception, information search and evaluation, and decision-making and implementation. The results indicate that financial literacy has significantly positive effects on one's awareness of post-retirement financial needs, comparing alternatives when purchasing financial products, displaying fewer present-time bias, and planning for and setting aside funds for retirement. Financial literacy not only directly contributes to planning for the future, but also indirectly via a reduction in behavioral biases.

scholarly journals Pengaruh Financial Literacy, Representativeness Bias, Dan Bias Optimisme Terhadap Pengambilan Keputusan Investasi

2020 ◽  
Vol 2 (3) ◽  
pp. 2976-2991
Author(s):  
Silvia Putri ◽  
Halmawati Halmawati
Keyword(s):  
Decision Making ◽  
Linear Regression ◽  
Multiple Linear Regression ◽  
Empirical Evidence ◽  
Financial Literacy ◽  
Stock Exchange ◽  
Investment Decision ◽  
Investment Decisions ◽  
State University ◽  
Investment Decision Making

This study aims to analyze 1) whether there is an influence of financial literacy on investment decision maknig. 2) Obtain empirical evidence whether there is an Representativeness bias making on investment decisions. 3) Does Bias optimisme affect investment decision making. In this study using Causality Design. Population and sampek are 104 respondents registered in the Indonesia Stock Exchange Investment Gallery (GIBEI) Faculty of Economics, State University of Padang. The method of analysis is multiple linear regression. The results of the study found 1) Financial literacy influences investment decisions on investment decision making.2) Optimum bias affects investment decisions on investment decision making. 3) Representativness influences investment decisions on investment decision making. 4) Together financial literacy variables, the optimum bias and representativness together influence the investment decision on investment decision making

Webrooming and showrooming: a multi-stage consumer decision process

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Srabanti Mukherjee ◽  
Swagato Chatterjee
Keyword(s):  
Decision Making ◽  
Information Search ◽  
Structural Equation ◽  
Product Type ◽  
Equation Modeling ◽  
Purchase Decision ◽  
Decision Making Process ◽  
Content Type ◽  
Channel Choice ◽  
Multi Stage

PurposeThe purpose of this research is to propose and validate a theoretical framework explaining web-rooming and showrooming as a multi-stage decision-making process. The authors have used consumer purchase decision-making theories to propose a model that identifies showrooming and webrooming as a combination of two decisions, channel choice during information search and channel choice during actual purchase. Further, the authors explored how various antecedents of showrooming and webrooming have differential effects on various stages of a purchase decision-making process and how product type moderates the relationships.Design/methodology/approachThe authors have conducted empirical research, whereby 243 responses were obtained from a cross-sectional survey. The authors have used structural equation modeling and multiple regression analysis to validate our theoretical model.FindingsWebrooming or showrooming is a multi-stage decision-making process for the consumers. First, consumers decide whether to search online or offline and then whether to buy online and offline. Different individual, purchase context-related and channel related factors impact these decisions. Product type governs which variables will be more important than others.Originality/valueThe research looks to enhance the understanding of the consumer's decision-making process during showrooming and webrooming while also helping retailers design and implement appropriate strategies that could affect consumers during information search and actual purchase.

Gender and Other Factors That Influence Tourism Preferences

2019 ◽  
pp. 454-471 ◽  
Author(s):  
Naomi F. Dale
Keyword(s):  
Decision Making ◽  
Information Search ◽  
Personal Characteristics ◽  
Destination Choice ◽  
Decision Making Process ◽  
Substantial Body ◽  
Gender And Technology ◽  
Number Of Factors ◽  
Travel Decision ◽  
The Impact

The consumption process of travel decision making, is influenced by a number of factors and a substantial body of decision making literature in the form of the broader ‘models of consumer behaviour' has been adapted to attempt to describe this process. Existing ‘foundation models' present variables such as personal characteristics and attitudes as factors that affect the vacation decision making process, but fail to discuss the extent to which gender and technology preferences influence decisions and destination choice. Economic models are based on utility theory as a decision making framework, however, they do not allow for the other consumer oriented variables. Current models (economic or otherwise) focus on individuals and their decision making process without a combined consideration of information search and technology gendered preferences and the impact they have on choosing a destination for a vacation.

An Empirical Study of E-Participation Levels in Jordan

2016 ◽  
Vol 7 (1) ◽  
pp. 63-79 ◽  
Author(s):  
Emad Abu-Shanab ◽  
Raya Al-Dalou'
Keyword(s):  
Decision Making ◽  
Empirical Study ◽  
The Political ◽  
Decision Making Process ◽  
The Core ◽  
Political Dimensions ◽  
The Relationship

The relationship between citizens and governments is the core of e-government. E-participation is one of the political dimensions of e-government which focuses on informing, consulting, involving, collaborating, and empowering citizens to take part of the decision making process. This study adopted a framework for the five levels of e-participation and tried to test such model empirically using 400 responses from Jordanians. The study tried to measure Jordanian perceptions towards e-participation initiatives and practices in Jordan, and to measure the achievements on each level as perceived and reported by subjects. Results indicated that the highest perceived level was e-involving, and the lowest was e-consulting. Also, the CFA results indicated a distorted distribution of items between the major levels. Results of other issues explored are discussed further in this study.

Modelling the Effects of Financial Services Advertising on Financial Product Purchase: An Empirical Validation

2019 ◽  
Vol 23 (4) ◽  
pp. 418-431
Author(s):  
Pallavi Dogra ◽  
Rishi Raj Sharma
Keyword(s):  
Decision Making ◽  
Factor Analysis ◽  
Financial Literacy ◽  
Financial Services ◽  
Service Providers ◽  
Decision Making Process ◽  
Celebrity Endorsement ◽  
Financial Decision Making ◽  
Perceived Reality ◽  
Financial Decision

The main aim of the study is to find the effect of the financial advertisement on the respondent’s information selection, processing and analysing it while making the financial purchase decisions. The study identified the important factors that affect the investment decision-making process and explored them by using the exploratory factor analysis. The conceptual model has been tested using the AMOS SEM software. The factor analysis identified the four important factors that are affecting the financial decision-making, that is, financial literacy, celebrity endorsement, perceived reality and entertainment. The hypothesis testing reveals that advertisement, perceived reality and entertainment are affecting the information processing and financial decision-making process, whereas financial literacy and celebrity endorsement do not have significant effects on the financial product purchase. The results are useful for the advertisers, policy makers and the financial service providers so as to increase the sale of financial products by focusing on the variables extracted by the research.

Participative Management of Employees in Decision-Making: An Empirical Study

2018 ◽  
Vol 2 (2) ◽  
pp. 1-5
Author(s):  
B. Ravi Kumar
Keyword(s):  
Decision Making ◽  
Empirical Study ◽  
Sampling Method ◽  
Sampling Methods ◽  
Steel Plant ◽  
Participative Management ◽  
Decision Making Process ◽  
Labour Policy

Participative management of employees in decision-making is considered as a mechanism where workers have a say in the decision making process of an organization. In India WPM is an element of government labour policy. The concept behind this is to improve better relations among employees and workers. The present paper tries to explore about the workers participation in management in Visakhapatnam Steel Plant (VSP) by considering 604 respondent employees of steel plant in order to know their opinions regarding the above mentioned topics by using convenient sampling method, because VSP is big organization consisting of more than 20,000 employees (Both Permanent and Contract). All the employees are busy at their work and it will be difficult to collect the first hand information from the employees by using any other sampling methods except convenient sampling method.

scholarly journals Uncalculating cooperation is used to signal trustworthiness

2016 ◽  
Vol 113 (31) ◽  
pp. 8658-8663 ◽  
Author(s):  
Jillian J. Jordan ◽  
Moshe Hoffman ◽  
Martin A. Nowak ◽  
David G. Rand
Keyword(s):  
Decision Making ◽  
Experimental Evidence ◽  
Empirical Evidence ◽  
Romantic Love ◽  
Ethical Principles ◽  
Decision Making Process ◽  
Costs And Benefits ◽  
Present Experimental Evidence ◽  
Do So

Humans frequently cooperate without carefully weighing the costs and benefits. As a result, people may wind up cooperating when it is not worthwhile to do so. Why risk making costly mistakes? Here, we present experimental evidence that reputation concerns provide an answer: people cooperate in an uncalculating way to signal their trustworthiness to observers. We present two economic game experiments in which uncalculating versus calculating decision-making is operationalized by either a subject’s choice of whether to reveal the precise costs of cooperating (Exp. 1) or the time a subject spends considering these costs (Exp. 2). In both experiments, we find that participants are more likely to engage in uncalculating cooperation when their decision-making process is observable to others. Furthermore, we confirm that people who engage in uncalculating cooperation are perceived as, and actually are, more trustworthy than people who cooperate in a calculating way. Taken together, these data provide the first empirical evidence, to our knowledge, that uncalculating cooperation is used to signal trustworthiness, and is not merely an efficient decision-making strategy that reduces cognitive costs. Our results thus help to explain a range of puzzling behaviors, such as extreme altruism, the use of ethical principles, and romantic love.

scholarly journals Financial Literacy of Students – The Case Study of UITM in Rzeszów, Poland

e-Finanse ◽  
2020 ◽  
Vol 16 (3) ◽  
pp. 106-118
Author(s):  
Karolina Palimąka
Keyword(s):  
Decision Making ◽  
Information Technology ◽  
Young People ◽  
Literature Review ◽  
Financial Literacy ◽  
Financial Knowledge ◽  
Decision Making Process ◽  
Degree Programs

Abstract The article focuses on the phenomenon of financial literacy of students. Financial literacy is treated as a combination of financial knowledge and the decision-making process where one has to make a choice based on experience and theory. The aim of this paper is to draw attention to the essence of financial literacy, including knowledge of banking (especially of young people). For this purpose, a literature review was used. Own research complements the topic as a case study, where the author verifies whether students assess their knowledge in a way that corresponds to reality and verifies whether students need to expand their financial knowledge sorely necessary nowadays. The survey was completed by 380 students from University of Information Technology and Management in Rzeszów, of both economic and non-economic field of studies. There are some unexpected results, for example the most important is that students from a financial field of studies end up with worse results than their peers from the non-financial degree programs.

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