scholarly journals Financial literacy and personal retirement planning: a socioeconomic approach

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kulondwa Safari ◽  
Charity Njoka ◽  
Mugisho Guershom Munkwa
Keyword(s):  
Social Security ◽  
Financial Literacy ◽  
Structural Equation ◽  
Financial Education ◽  
Retirement Planning ◽  
Developed Countries ◽  
Social Security System ◽  
Security System ◽  
Equation Modeling ◽  
Content Type

PurposeThe purpose of this study was to investigate the effect of financial literacy on personal retirement planning in Bukavu city in the Democratic Republic of the Congo (DRC), which is a Sub-Saharan underdeveloped country with a weak pension and social security system.Design/methodology/approachThis study used a structural equation modeling and a sample of 361 public sector employees selected in Bukavu city in the DRC. The data were collected through a survey questionnaire, and the data were analyzed using SPSS and SMART PLS software.FindingsThe results from the study revealed that financial literacy has a significant impact on personal retirement planning. Two constructs of financial literacy, respectively, computation capability and financial knowledge were found to have a significant impact on personal retirement planning, while financial education and attitudes toward financial products were found not significant in explaining personal retirement planning.Practical implicationsThe findings from this study can be used by policy makers in the DRC to design socioeconomic programs, aiming to increase the level of financial literacy in the country and awareness on personal retirement planning.Originality/valueThe reviewed studies were based mostly on developed countries, and countries were the social security system works effectively. We have not found a study on financial literacy and retirement planning that has been conducted in the DRC, which is a country with specific characteristics compared to developed countries.

Exploring the antecedents of retail banks’ reputation in low-bankarization markets: brand equity, value co-creation and brand experience

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Luís Daniel Martillo Jeremías ◽  
Ana Isabel Polo Peña
Keyword(s):  
Financial Institutions ◽  
Brand Equity ◽  
Low Income ◽  
Financial Literacy ◽  
Structural Equation ◽  
Banking Sector ◽  
Retail Banking ◽  
Equation Modeling ◽  
Brand Experience ◽  
Content Type

PurposeThe present study aims to propose and validate a model to measure certain variables that may contribute to increasing the bankarization rate (uptake of retail banking services) among developing-economy populations characterized by poor financial literacy and low income levels.Design/methodology/approachA quantitative empirical study is carried out in the retail banking sector of a country with low-bankarization rates. Using a self-administered questionnaire distributed online, structural equation modeling is applied to analyze the relationships between value co-creation, brand experience, brand equity and reputation.FindingsThe results show that brand equity is an antecedent of reputation that values co-creation, and brand experience positively influences brand equity and that values co-creation that positively influences brand experience.Social implicationsThe bankarization rate of a developing country is generally taken as an indicator of the socioeconomic wellbeing of its population. Where there is a low-bankarization rate, this renders it more difficult for financial institutions to build their reputation to attract new customers and retain existing ones. Strategies are, therefore, proposed to improve the reputation of financial institutions in such settings and, thus, contribute to increasing the bankarization rate.Originality/valueThe findings of this study provide an original perspective that offers a deeper understanding of the mechanisms that enable banks operating in low-bankarization markets to enhance their reputation through strategies based on customer–company interaction and branding (with the variables of brand equity, brand experience and value co-creation).

From physical to virtual store: factors that spur Bangladeshi manufacturers/retailers to introduce multi-channel retailing

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Md Thohidul Karim ◽  
Xu Qi
Keyword(s):  
Developing Countries ◽  
Technology Acceptance ◽  
Consumer Satisfaction ◽  
Structural Equation ◽  
Developed Countries ◽  
Point Of View ◽  
Equation Modeling ◽  
Content Type ◽  
Business Innovation ◽  
Major Factors

Purpose Multi-channel business operations are standard practice in most business contexts today. The popularity of multi-channel adoption among developing countries is growing fast. In Bangladesh, the retailers who adopted multi-channel retailing have been getting a very good response from the consumers. This study aims to understand the factors that influence manufacturers’ decisions to adopt multiple channels in Bangladesh. The authors applied an extended technology acceptance model with three variables: business innovation, business competition and consumer satisfaction. Design/methodology/approach Partial least squares-structural equation modeling was applied to test the data collected from 157 companies and relevant hypotheses. Findings The study findings show that Bangladeshi manufacturers are positive about, and expect benefits from, applying the new channel. The study also revealed that customer satisfaction considerably affects multi-channel adoption in Bangladesh. Similarly, business innovation and business competition play a significant role in introducing multiple business channels. Research limitations/implications This research was conducted in Bangladesh, and data are collected from Dhaka and Chittagong that may limit the generalizability of findings. Practical implications The research goal was to understand a manufacturer’s perception to adopt multi-channel in business. The proposed research model was able to address the major factors that drive a manufacturer to introduce multiple business channels, especially in Bangladesh. Originality/value Many research and case studies have been done the past couple of decades, but most of them are consumer oriented. Little research has been done to investigate a manufacturer’s point of view adapting innovation in business. Though some research articles are available online, most of them from developed countries. So, the study’s goal was to study developing countries scenario; thus, the authors choose Bangladesh.

The country context in Triple-A supply chains: an advanced PLS–SEM research study in emerging vs developed countries

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
José A.D. Machuca ◽  
Juan A. Marin-Garcia ◽  
Rafaela Alfalla-Luque
Keyword(s):  
Structural Equation ◽  
Research Study ◽  
Theory Development ◽  
Developed Countries ◽  
Emerging Countries ◽  
Equation Modeling ◽  
Synergy Effect ◽  
Content Type ◽  
Manufacturing Plants ◽  
Potential Synergy

PurposeThis paper analyzes whether the Triple-A supply chain (SC)–competitive advantage (CA) relationship is influenced by the country context and considers the case of emerging vs developed countries. Any differences in the importance of the three Triple-A SC dimensions (agility, adaptability and alignment) and a potential synergy effect among them when pursuing CA are also analyzed.Design/methodology/approachPartial least squares structural equation modeling (PLS-SEM) method is applied to an international multiple informant sample of 304 manufacturing plants in nine developed and five emerging countries.FindingsA significant positive relationship is found between the Triple-A SC and CA in the full sample and in the two separate samples of emerging and developed countries, which is more intense in the emerging countries. For the same samples, it is also concluded that (1) there are no significant differences in the importance of SC adaptability (SC-Ad), SC agility (SC-Ag) and SC alignment (SC-Al) as levers in the Triple-A SC–CA relationship and (2) a synergy effect among the Triple-A SC dimensions when pursuing CA is not supported.Research limitations/implicationsThe present study brings new evidence to the previous research on Triple-A SC and its relationship with CA in different country contexts. For managers, this work (1) shows that Triple A should be considered in the design of global SCs irrespective of the country context and (2) offers a first approach for determining the Triple-A SC levers that must be taken into consideration when pursuing a CA.Originality/valueThis paper contributes to Triple-A SC theory development. It is the first research study that analyzes the effect of the country context on the Triple-A SC–CA relationship and the importance of each of the Triple-A SC dimensions and their possible synergy effect when pursuing CA using a multiinformant international sample taken from different country contexts.

Specific HR practices and employee commitment: the mediating role of job satisfaction

2019 ◽  
Vol 41 (3) ◽  
pp. 420-435 ◽  
Author(s):  
Arshad Mahmood ◽  
Muhammad Naseer Akhtar ◽  
Usman Talat ◽  
Chuanmin Shuai ◽  
James C. Hyatt
Keyword(s):  
Job Satisfaction ◽  
Developing Country ◽  
Structural Equation ◽  
Employee Commitment ◽  
Developed Countries ◽  
Equation Modeling ◽  
Content Type ◽  
Mediating Role ◽  
Hr Practices

PurposeThe purpose of this paper is to increase understanding of the influence mechanisms of specific HR practices variables – salary, job stability and job enrichment – upon employee commitment, through the mediating role of job satisfaction, in a developing country context. Crucially, these indicate employee commitment.Design/methodology/approachThe study analyzed three specific HR practices with a sample of 263 employees in the banking industry of Pakistan. A structural equation modeling methodology is adopted.FindingsThe findings indicate that remuneration strategies were positively related to job satisfaction and employee commitment. Regarding the intervening impact of job satisfaction, this study found that it mediates only for non-monetary strategies between job satisfaction and employee commitment.Research limitations/implicationsA key limitation is that this is a cross-sectional study, perhaps not generalizable over longitudinal approaches. Another limit is posed by the developing country context of this study, perhaps not applicable to some developed countries.Practical implicationsFrom an HR perspective, managing salary structure is an ongoing issue. The proposed model suggests the use of specific practices about satisfaction and commitment as intermediate steps to manage employee commitment.Originality/valueThe research offers a unique understanding from the developing country context of Pakistan. This provides a novel study conducted to examine employee commitment using the high-performance work practices model.

Bricolage as capability for frugal innovation in emerging markets in times of crisis

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Leandro Lima Santos ◽  
Felipe Mendes Borini ◽  
Moacir de Miranda Oliveira ◽  
Dennys Eduardo Rossetto ◽  
Roberto Carlos Bernardes
Keyword(s):  
Emerging Markets ◽  
Structural Equation ◽  
Resource Constraints ◽  
Positive Impact ◽  
Developed Countries ◽  
Resource Scarcity ◽  
Equation Modeling ◽  
Survey Method ◽  
Frugal Innovation ◽  
Content Type

PurposeThis research aims to answer the following question: Could bricolage become a capability for companies in emerging markets to develop frugal innovations in times of crisis? Therefore, in this paper the main aim is to identify whether in times of crisis the development of frugal innovation in emerging markets depends on the bricolage capability.Design/methodology/approachThe hypotheses were statistically tested using the structural equation modeling technique, with data collected through the survey method applied to 215 companies in Brazil.FindingsThe results allowed support for the hypothesis that bricolage capability has a positive impact on the development of frugal innovation. Therefore, a mediating test was verified, allowing confirmation that to develop frugal innovation in emerging markets, bricolage becomes a required capability for companies in times of crisis.Research limitations/implicationsThe limitation of this study lies in considering the effect of bricolage on frugal innovation only in the context of Brazil, while in developed countries this effect may be similar, as they also suffer from resource constraints caused by crises.Practical implicationsThis research provides insights to guide managers by highlighting bricolage as a key managerial capability for the development of frugal innovation. A set of managerial recommendations are provided based on bricolage skills.Originality/valueThe study has contributed to the literature on bricolage and frugal innovation by addressing bricolage as an antecedent of frugal innovation in emerging markets, especially when those markets are affected by resource scarcity.

scholarly journals Framing the Retirement Planning Behavior Model towards Sustainable Wellbeing among Youth: The Moderating Effect of Public Profiles

2020 ◽  
Vol 12 (21) ◽  
pp. 8879
Author(s):  
Asyraf Afthanorhan ◽  
Abdullah Al Mamun ◽  
Noor Raihani Zainol ◽  
Hazimi Foziah ◽  
Zainudin Awang
Keyword(s):  
Financial Literacy ◽  
Structural Equation ◽  
Retirement Planning ◽  
Measurement Scale ◽  
Equation Modeling ◽  
Systematic Random Sampling ◽  
The Public ◽  
Goal Clarity ◽  
The Government ◽  
Random Sampling Approach

This study examines the effect of financial literacy, saving attitudes, social influence, and goal clarity on the retirement planning construct. In addition, it investigates how the public demographic profile moderates these relationships. The questionnaire approach was utilized to collect data by adopting and customizing the measurement scale from previous studies. A systematic random sampling approach was employed on 323 prospective respondents. The outcomes of this study illustrate that all relationships are significantly and positively associated with retirement planning using structural equation modeling (SEM). Furthermore, all moderator variables (gender, age, status, income, and education) moderated the relationships. The government should construct a holistic retirement planning model that is based on demographic characteristics.

Exploring panic buying behavior during the COVID-19 pandemic: a developing country perspective

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gurmeet Singh ◽  
Asheefa Shaheen Aiyub ◽  
Tuma Greig ◽  
Samantha Naidu ◽  
Aarti Sewak ◽  
...  
Keyword(s):  
Developing Country ◽  
Structural Equation ◽  
Time Pressure ◽  
Developed Countries ◽  
Customer Behavior ◽  
Equation Modeling ◽  
Buying Behavior ◽  
Content Type ◽  
Goods And Services ◽  
Global Pandemic

PurposeThis paper aims to identify factors that influence customers' panic buying behavior during the COVID-19 pandemic.Design/methodology/approachA self-administered questionnaire was distributed to 357 participants in Fiji, and structural equation modeling to analyze the collected data.FindingsResults indicate that expected personal outcomes is positively associated with customers' attitudes while expected community-related outcomes negatively impact customers' attitudes. Factors such as attitude, subjective norms, scarcity, time pressure and perceived competition were found to positively influence customers' panic buying intention. Furthermore, scarcity and time pressure were confirmed to positively influence perceived competitiveness while perceived social detection risk negatively influences customer's panic buying intention.Practical implicationsThe findings highlight the need for better measures to ensure that every customer has access to goods and services and is not deprived of such necessities in times of a crisis. These results will assist store managers and policymakers in introducing better management, social policies and resource utilization mechanisms to mitigate panic buying during the pandemic.Originality/valueThis study's findings contribute to the literature on customer's panic buying behavior during a global pandemic. Research in this area remain scarce, inconsistent and inconclusive. Novel insights are generated as this study is the first to combine the theory of planned behavior, privacy calculus theory and protection motivation theory. Applying these theories allows new relationships to be tested to better understand customer behavior during a global pandemic. With most studies on customer behavior during crises and disasters in developed countries, this study generates new insights by exploring customer behavior in a developing country.

A comparative analysis of dimensions of COO and animosity on industrial buyers’ attitudes and intentions

2018 ◽  
Vol 27 (7) ◽  
pp. 832-846 ◽  
Author(s):  
Hakim Meshreki ◽  
Christine Ennew ◽  
Maha Moustafa Mourad
Keyword(s):  
Perceived Risk ◽  
Structural Equation ◽  
Developed Countries ◽  
Equation Modeling ◽  
Cross Sectional ◽  
Content Type ◽  
Industry Type ◽  
Willingness To Buy ◽  
Normative Dimension ◽  
Business To Business

Purpose Country of origin (COO) is well established as an extrinsic product cue that influences buyer behavior in the business-to-business (B2B) context. However, non-product-specific attitudes to a COO, including the notion of animosity, have received rather less attention. This paper aims to investigate COO as a multi-dimensional construct and animosity as a normative dimension of buyers’ attitudes and intentions. Design/methodology/approach The work is based on data collected from industrial buyers in Egypt and Canada to enable a comparative perspective between developing and developed countries. Structural equation modeling was used to test the study’s hypotheses. Findings Country of manufacture was an antecedent of perceived quality and a determinant of brand evaluation in both countries. Price was an antecedent of perceived risk and value in Egypt, while its impact on perceived risk was less pronounced in Canada. Perceived value was the strongest determinant of willingness to buy, while animosity played a significant role in this respect in Canada but not in Egypt. Research limitations/implications Country of brand was not included as a dimension to be investigated; industry type was not controlled and may confound the results; and generalization of the results is limited given the cross-sectional approach. Originality/value The study’s contribution lies in four main elements, viewed individually and in combination: investigating a large number of COO constructs that have not been studied within a single research context in B2B before; including the animosity construct in a B2B setting; contrasting “benefit received” and “sacrifice given” constructs that help to shape industrial buyers’ purchase decisions; and carrying out the research in two very different countries to help improve the generalizability of results.

scholarly journals Financial literacy among working women: A Study on university staff in Kedah

2020 ◽  
Vol 8 (2) ◽  
pp. 100-108
Author(s):  
Nur Najihah Ashaari ◽  
Zahayu Md Yusof ◽  
Masnita Misiran ◽  
Hasimah Sapiri
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Structural Equation ◽  
Financial Risk ◽  
Working Women ◽  
Financial Education ◽  
Financial Behavior ◽  
Equation Modeling ◽  
Employment Sector ◽  
Five Factors

The involvement of women in the employment sector has helped boost the Malaysian economy. Therefore, it is imperative for our economy to consider the fact that where and how women work to spend or invest their funds. In this case, for the proper use of funds, working women need to be financially literate. This study to determine the relationship between the factors towards financial literacy among working women and to investigate the risk of financial literacy among working women. Sample data were gathered using self-administered questionnaire among working women in government university in Kedah and later analyzed using statistical software namely, Statistical Package for Social Science (SPSS) version 25.0 and Analysis of Moment Structure (AMOS) version 25.0. Confirmatory Factor Analysis (CFA) together with Structural Equation Modeling (SEM) approach was used both to access the model fit and identify the significant direct influence financial literacy among working women. As a result, five factors that influence financial management have been highlighted which are financial attitude, financial knowledge, financial education, financial behavior and financial literacy. The result indicates that only financial attitudes significant towards financial literacy among working women as supported by the previous study. However, other factors are also important in assessing the level of financial literacy of an individual because each of these factors plays a role in ensuring an individual's financial management and avoid yourself from financial risk.

scholarly journals Investigating the level of financial literacy of university students

2017 ◽  
Vol 16 (3) ◽  
pp. 845-866 ◽  
Author(s):  
Israel José dos Santos Felipe ◽  
Harrison Bachion Ceribeli ◽  
Túlio Queiroz Lana
Keyword(s):  
Structural Equation Modeling ◽  
University Students ◽  
Financial Literacy ◽  
Structural Equation ◽  
Financial Education ◽  
Well Being ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Equation Modeling ◽  
Financial Attitudes

AbstractConsidering that the quality of financial decisions taken by individuals depends on their financial knowledge, abilities and attitudes, it is possible to state that the well-being of a population depends on how financially literate it is. In this context, the aim of this study was to measure the financial literacy level of university students in north of Mexico. The research method used was the survey and the data collected were analyzed using the structural equation modeling technique. As results, it was possible to confirm that financial attitudes of university students of north of Mexico influence their financial behavior. However, it was not confirmed that financial knowledge of these students impacts their financial behavior. As a high relationship between financial attitudes, financial behavior and financial knowledge of analyzed individuals was not found, it is concluded that the level of financial literacy of university students in the north of Mexico is low. It implies in the necessity to invest in financial literacy programs that could help this population to better manage their resources, what would certainly impact on its savings and consumption decisions, and retirement planning.Keywords: Financial Literacy. Financial Education. Structural Equation Modeling. Mexican Students. Investigando o nível de alfabetização financeira de estudantes universitários ResumoConsiderando que a qualidade das decisões financeiras tomadas pelos indivíduos depende de seus conhecimentos, habilidades e atitudes financeiras, é possível afirmar que o bem-estar de uma população depende do quão financeiramente alfabetizada ela é. Neste contexto, o objetivo deste estudo foi mensurar o grau de alfabetização financeira dos estudantes universitários do norte do México. O método de pesquisa utilizado foi a survey e os dados coletados foram analisados por meio da técnica de modelagem de equações estruturais. Como resultados, foi possível confirmar que as atitudes financeiras dos universitários do norte do México influenciam seu comportamento financeiro. Todavia, não se confirmou que o conhecimento financeiro desses estudantes impacta seu comportamento financeiro. Como não se encontrou uma forte relação entre os conhecimentos, atitudes e comportamentos financeiros dos indivíduos analisados, conclui-se que o nível de alfabetização financeira dos estudantes universitários do norte do México é baixo. Isso implica na necessidade de investir em programas de alfabetização financeira para auxiliar essa população a melhor gerir seus recursos, o que certamente irá impactar em suas decisões de poupança e consumo, assim como em seu planejamento de aposentadoria.Palavras-chave: Alfabetização financeira. Educação financeira. Modelagem de equações Estruturais. Estudantes mexicanos.

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