Financial literacy among Malaysian Muslim undergraduates

2020 ◽  
Vol 11 (8) ◽  
pp. 1515-1529
Author(s):  
Ana Shakirah Md.Sapir @ Md.Shafik ◽  
Wan Marhaini Wan Ahmad
Keyword(s):  
University Students ◽  
Social Environment ◽  
Financial Literacy ◽  
Design Methodology ◽  
Financial Education ◽  
Sociocultural Context ◽  
Content Type ◽  
Islamic Identity ◽  
Literacy Scores ◽  
Practical Implications

Purpose University students are known to face many challenges in achieving high financial literacy. The purpose of this paper is to examine the level of financial literacy among Malaysian Muslim undergraduates as explained through sociocultural variables. Furthermore, this paper explores a few additional Islamic measurements as part of assessing the level of financial literacy among the students. Design/methodology/approach The questionnaires were drafted based on a multi-dimensional financial literacy model and distributed conveniently to 330 respondents. Post-interviews were also conducted with selected students to further comprehend the sociocultural context. Findings The findings suggest that exposing students to financial education and practices influence their financial literacy scores. Students who attended muamalat-related courses demonstrated better financial literacy scores. Meanwhile, post-interview results indicate that the students’ social environment and interactions also play important roles in enhancing their financial literacy. Hence, it is believed that it is essential to embed Islamic-based measurements to equip students with financial literacy in tandem with their pedagogic development. The results thus extend previous studies by confirming the importance of Islamic-based finance- and business-related knowledge for all tertiary students. Furthermore, the curricula should be made compatible to their studying environment and attuned to their values and cultures. Practical implications The findings suggest the introduction of personal financial and muamalat-based knowledge and practices relative to their Islamic programme orientation. This should take place during the students’ academic years and across all academic programmes’ orientation. The study also highlights the importance of developing special measurements of Islamic financial literacy for Muslims congruent to their distinct Islamic identity. Social implications The study indicates the importance of high financial literacy among tertiary students for them to have a financially stable future. Originality/value The research is original in its use of several measurements of financial literacy that embedded Islamic teachings concomitant to the Muslim respondents.

scholarly journals Online disclosure practices of halal-friendly hotels

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ikram Nur Muharam ◽  
Mehmet Asutay
Keyword(s):  
Service Provision ◽  
Design Methodology ◽  
Online Marketing ◽  
Content Type ◽  
Random Samples ◽  
Halal Food ◽  
Islamic Identity ◽  
Almost All ◽  
Fresh Insight ◽  
Practical Implications

Purpose This research analyses the online disclosure practices of halal-friendly hotels, denoting their service provision within “halal” expectancies. This study aims to discover the halal attributes commonly used in the online marketing practices of halal-friendly hotels. Design/methodology/approach The methods used in this study include a deductive approach through literature, which was then followed by an initial investigation of several random samples that produced 24 points of halal-friendly attributes, and then content analysis to find out the online disclosure practices of 55 halal-friendly hotels. Further insights gathered through analysis of the use of Islamic images and symbols; also, by examining the nexus between the disclosure level and other variables such as halal-friendly certification level, star-level and guest ratings. Findings The results show that most hotels classify themselves as halal-friendly by providing information that articulates Islamic identity or by informing the existence of prayer facilities. Information displayed includes halal food, halal places, alcohol-free policy, prayer facilities and Qibla direction. Furthermore, image analysis shows that almost all hotels use human photographs, and the preferred gender is male; only a few hotels expose Islamic symbols. Most hotels maintain a neutral impression by avoiding “Islamised gender” and not overly emphasising Islamic images. Otherwise, halal-friendly certification level is positively correlated with the disclosure level. Practical implications The results provide a fresh insight regarding the online marketing practices of the halal-friendly hotels and could be used as a benchmark by the practitioners. Originality/value This topic is still unexplored; it shows this research originality.

scholarly journals Do bank credit rejection and financial education affect financial self-confidence?

2017 ◽  
Vol 23 (6) ◽  
pp. 1033-1051 ◽  
Author(s):  
Bernard Owens Imarhiagbe ◽  
George Saridakis ◽  
Anne-Marie Mohammed
Keyword(s):  
Financial Literacy ◽  
Financial Education ◽  
Business Owners ◽  
Bank Credit ◽  
Content Type ◽  
Self Confidence ◽  
Original Contribution ◽  
Males And Females ◽  
The Uk ◽  
Practical Implications

Purpose The purpose of this paper is to examine empirically the determinants of owner manager financial self-confidence. In particular, it estimates the effect of bank credit rejection and financial education (FE) on the financial self-confidence of business owners. Design/methodology/approach This paper uses data from 2004 and 2008 surveys of 2,500 UK small and medium sized enterprises (SMEs). An ordered probit estimation is used to measure and assess the effect of bank credit rejection and FE variables on financial self-confidence for the two periods. The authors also explore potential differences in self-confidence between males and females. Findings The results show that outright bank credit rejection reduces financial self-confidence among owner managers whereas partial bank credit rejection is found to help boost confidence prior to the financial crisis. There is strong evidence that FE increases financial self-confidence. Finally, the authors find no association between gender and reported self-confidence in finance. Research limitations/implications Entrepreneurs and potential entrepreneurs are encouraged to explore financial literacy and knowledge with a view to increasing their financial self-confidence. This will help SMEs to deal with the banks or other finance providers more efficiently. In addition, better application procedures and information on lending criteria may help SMEs to minimize the probability of bank credit rejection. So the current study has implications for professional bodies as well. The study, however, is restricted to sole proprietor and partnership SMEs and in the UK context only. Practical implications Financial self-confidence has a progressive effect on entrepreneurship and entrepreneurial venture growth. The financial self-confidence of owner managers can support their entrepreneurial capability in starting and operating one or more businesses. As entrepreneurs successfully start and operate their own businesses, they are contributing to economic development through job creation, employment and tax contribution. Originality/value This paper makes an original contribution in highlighting the usefulness of FE in boosting financial self-confidence among entrepreneurs and potential entrepreneurs. It is also found that the experience of bank credit rejection reduces entrepreneurs’ financial self-confidence.

Usage of and learning from Wikipedia: a study of university students in Pakistan

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Wazzuha Amina ◽  
Nosheen Fatima Warraich ◽  
Amara Malik
Keyword(s):  
Social Sciences ◽  
University Students ◽  
Design Methodology ◽  
Sampling Technique ◽  
Content Type ◽  
The University ◽  
Masters Students ◽  
Source Of Information ◽  
Practical Implications ◽  
Structured Questionnaire

Purpose This study aims to explore the university students’ usage pattern of Wikipedia information and its effect on their learning. Design/methodology/approach A structured questionnaire was designed to collect data from the students of master programmes at University of the Punjab, Lahore. Proportionate stratified sampling technique was used to select the sample from the population of “Faculty of Behavioural and Social Sciences”. In total, 225 masters’ students from eight departments participated voluntarily in the study. Findings Findings revealed that the majority of the respondents used Wikipedia information regularly for both academic and leisure purposes. They usually did not edit/add content in Wikipedia entries though they observed incomplete contents in it. Overall, the respondents perceived Wikipedia as an easy and understandable source of information that enhanced their understanding about a topic and enabled them to accomplish tasks more quickly. Research limitations/implications The sample of this study was social sciences students from one university. The findings may not be generalizable across other groups of students and universities. Practical implications These findings suggest that students have a positive behaviour towards Wikipedia and regarded it as a good source of information. They use Wikipedia information for academic and leisure purposes. So, the academics and librarians need to provide better guidelines for using Wikipedia, rather than prohibiting its use altogether. Originality/value This paper provides useful information on the use of Wikipedia among university students from a developing country’s perspective and thus contributes to the tendency of increasing acceptance of Wikipedia in academia. Furthermore, understanding how gender plays a role in differentiating the using behaviour of Wikipedia information could benefit both academics and library practitioners.

Affirming the research party reference model

2019 ◽  
Vol 47 (1) ◽  
pp. 48-59 ◽  
Author(s):  
Christina Riehman-Murphy ◽  
Jennifer Hunter
Keyword(s):  
Social Environment ◽  
Undergraduate Students ◽  
Information Seeking ◽  
Design Methodology ◽  
Reference Model ◽  
Content Type ◽  
Reference Services ◽  
Faculty And Administrators ◽  
First Time ◽  
Practical Implications

Purpose The purpose of this paper is to provide evidence of the value of Research Parties, a new model of supplementary reference in a social environment. Design/methodology/approach A survey of multiple choice and open-ended questions was administered to Research Party participants (n = 43) over the course of three semesters to discover the profiles of the undergraduate students who attended and how they heard about the event and to assess the value of the interaction to the student. Findings Respondents unanimously agreed that their interactions with librarians at Research Parties were helpful because their information seeking needs, including finding sources, learning how to search databases, gaining clarity into the assignment, writing and citing, were met. Respondents also mentioned attributes of the librarian’s disposition or attitude such as enthusiastic conversation, encouragement and patience. Several students reflected on their own learning process and noted that they would seek help from a librarian again. Practical implications The results demonstrate that Research Parties are helpful to undergraduate students and a worthwhile model for academic libraries looking to complement their traditional reference services. Originality/value While faculty and administrators have verbally expressed excitement about Research Parties, librarian colleagues have anecdotally reported success instituting this model at their institutions, and students have provided informal positive feedback, this is the first time the model has been evaluated more formally to capture its value.

Financial Citizenship Perception (FCP) Scale: proposition and validation of a measure

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kelmara Mendes Vieira ◽  
Marcelo Matzenbacher Delanoy ◽  
Ani Caroline Grigion Potrich ◽  
Aureliano Angel Bressan
Keyword(s):  
International Organizations ◽  
Financial Literacy ◽  
Design Methodology ◽  
Secondary Data ◽  
Hierarchical Cluster ◽  
Policy Makers ◽  
Content Type ◽  
Analysis Techniques ◽  
Confirmatory Factor ◽  
Practical Implications

PurposeThe purpose of this study is to propose and validate a Financial Citizenship Perception Scale from the perspective of the citizen.Design/methodology/approachAn instrument was applied in Brazil, whose dimensions and items were analyzed using exploratory and confirmatory factor analysis techniques and hierarchical cluster analysis.FindingsThe scale proposed in the study allows for the development of an indicator that defines whether an individual has a high or low level of financial citizenship, being represented by the dimensions of financial inclusion, financial protection and financial literacy.Practical implicationsThe methodology for standardizing the application of the Financial Citizenship Perception Scale is presented to allow researchers, managers and public policy makers to use the indicator to assess citizens' perception of financial citizenship.Originality/valueFinancial citizenship is a recurring theme in the formulation of recommendations, standards and instructions by international organizations and central banks in different countries. However, the literature on the topic still focuses on proposing indicators of financial citizenship obtained from secondary data.

Mortgage delinquency during COVID-19: do financial literacy and personality traits matter?

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Malvika Chhatwani
Keyword(s):  
Logistic Regression ◽  
Regression Analysis ◽  
Personality Traits ◽  
Financial Literacy ◽  
Design Methodology ◽  
Content Type ◽  
Individual Level ◽  
Nationally Representative ◽  
The Given ◽  
Practical Implications

PurposeMortgage delinquency has become a major crisis following the COVID-19 pandemic. This study explored mortgage delinquency antecedents, focusing on two individual-level factors: financial literacy and personality traits.Design/methodology/approachUsing a large sample of 2,511 consumers, we examined the direct effect of financial literacy and its interaction with personality traits to predict mortgage delinquency based on logistic regression analysis. We further provide several robustness tests to validate our findings.FindingsWe find that financially literate consumers are 6% less likely to delay their mortgage repayment during the COVID-19 pandemic. Moreover, personality traits such as neuroticism and extroversion positively and conscientiousness negatively moderate the given linkage between financial literacy and mortgage delinquency.Practical implicationsBanks and financial companies may devise relevant policies to reduce mortgage repayment by knowing the interplay between financial literacy and personality traits. Personality traits can be considered one of the parameters while sanctioning mortgages to prospective customers.Originality/valueOur research examines the linkage between financial literacy, personality traits and mortgage delinquency based on a large nationally representative sample. Our findings suggest that personality traits moderate the effect of financial literacy on mortgage delinquency.

The future of property education in Australia

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
David Parker
Keyword(s):  
Social Environment ◽  
Design Methodology ◽  
The State ◽  
Social Implications ◽  
Content Type ◽  
Dead End ◽  
The Future ◽  
Education Delivery ◽  
Practical Implications

PurposeThe study aims to comment upon the state of property education in Australia.Design/methodology/approachStatement of opinionFindingsProperty education in Australia is heading down a one-way dead-end roadResearch limitations/implicationsThis article is a statement of opinionPractical implicationsHighlights alternative forms of delivery for property education in AustraliaSocial implicationsConsiders property education delivery in context of current social environmentOriginality/valueStatement of opinion based in experience in academia and practice

Religion, social studies and citizenship: reframing religion through the lens of citizenship

2019 ◽  
Vol 14 (2) ◽  
pp. 201-211 ◽  
Author(s):  
Matthew S. Hollstein ◽  
Todd S. Hawley
Keyword(s):  
Social Studies ◽  
Social Environment ◽  
Research Methodology ◽  
Design Methodology ◽  
Controversial Issue ◽  
Classroom Teachers ◽  
Content Type ◽  
Alternative Approach ◽  
The Social ◽  
Practical Implications

Purpose The purpose of this paper is to present an alternative approach to studying religion in social studies classrooms through reframing. The authors encourage this reframing through the lens of citizenship and terror as a human experience. Design/methodology/approach This is a practitioner’s piece and did not include research methodology or design. Findings This is a practitioner’s piece and did not include any findings. Practical implications This paper presents practical approaches to examining religion in social studies classrooms through a comparison with citizenship and the lens of terror. The authors offer activities which current classroom teachers will be able to put into action immediately. In addition, the authors offer a detailed background for further study if teachers wish to learn more. Social implications This paper presents ways to study religion in the social studies and in the current fractured social environment the authors feel is needed. The authors wish to showcase how to examine a controversial issue in a reflective, respectful and honest fashion. Originality/value The authors present the idea of studying religion through the lens of terror while showcasing how it mirrors the requirements of citizenship. The authors believe that studying religion in this way in the social studies will help to demystify the topic and allow students to unpack religion as a topic in social studies.

Member perceptions of ESG investing through superannuation

2015 ◽  
Vol 6 (1) ◽  
pp. 79-102 ◽  
Author(s):  
Laura de Zwaan ◽  
Mark Brimble ◽  
Jenny Stewart
Keyword(s):  
Decision Making ◽  
Financial Literacy ◽  
Design Methodology ◽  
Environmental Issues ◽  
Social Implications ◽  
Content Type ◽  
On Line ◽  
Line Survey ◽  
Practical Implications ◽  
Financial Penalty

Purpose – Environmental, social and governance (ESG) risks have the potential to negatively impact financial returns, yet few superannuation funds integrate these considerations into their investment selection. The Cooper Review (2010) identified a lack of member demand as a key impediment to ESG investing by superannuation funds. Given this problem, the aim of this study is to explore superannuation fund members’ perceptions of ESG investing by their funds in order to identify reasons for the lack of demand. Design/methodology/approach – An on-line survey was developed and distributed to assess possible reasons why members do not select ESG investment options. In total, 549 Australian superannuation fund members responded to the survey. Findings – Results indicate that the majority of superannuation fund members are interested in ESG investing. Members lack awareness of their fund’s approach to ESG investing, and they do not perceive there to be a financial penalty from ESG investing. Finally, members show a preference for consideration of governance issues over both social and environmental issues. Research limitations/implications – Respondents are well educated and the majority did not choose their superannuation fund. There was no measure of financial literacy included in the research instrument. There is also a general limitation in surveying superannuation fund members when they lack knowledge about superannuation. Practical implications – The results indicate that superannuation members are interested in both superannuation and ESG investing. Given the low take-up of ESG investment options, this finding raises the question of how effectively funds are engaging their members. Social implications – The results should be of interest to superannuation funds and may lead to renewed interest in promoting ESG products. Originality/value – This is the first study to examine superannuation members’ attitudes and behaviours towards ESG investing in the context of superannuation. The study also adds to our understanding of member decision-making in the $1.8 trillion superannuation industry.

Consumer value creation through WhatsApp use

2019 ◽  
Vol 32 (4) ◽  
pp. 455-471
Author(s):  
Jorge Cruz-Cárdenas ◽  
Jorge Guadalupe-Lanas ◽  
Ekaterina Zabelina ◽  
Andrés Palacio-Fierro ◽  
Margarita Velín-Fárez ◽  
...  
Keyword(s):  
Latin American ◽  
Value Creation ◽  
Emotional Support ◽  
Design Methodology ◽  
Instant Messaging ◽  
Role Performance ◽  
Content Type ◽  
Consumer Value ◽  
Depth Interviews ◽  
Practical Implications

Purpose The purpose of this paper is to understand in-depth how consumers create value in their lives using WhatsApp, the leading mobile instant messaging (MIM) application. Design/methodology/approach The study adopts the perspective of customer-dominant logic (CDL) and uses a qualitative multimethod design involving 3 focus groups and 25 subsequent in-depth interviews. The research setting was Ecuador, a Latin American country. Findings Analysis and interpretation of the participants’ stories made it possible to identify and understand the creation of four types of value: maintaining and strengthening relationships; improving role performance; emotional support; and entertainment and fun. In addition, the present study proposes a conceptual model of consumer value creation as it applies to MIM. Practical implications Understanding the way consumers create value in their lives using MIM is important not only for organizations that offer MIM applications, but also for those companies that develop other applications for mobile phones or for those who wish to use MIM as an electronic word-of-mouth vehicle. Originality/value The current study is one of the first to address the topic of consumer behavior in the use of technologies from the perspective of CDL; this perspective enables an integrated qualitative vision of value creation in which the consumer is the protagonist.

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