SFC’s new guidance note redefines cooperation in disciplinary, civil court and market misconduct tribunal proceedings

2018 ◽  
Vol 19 (3) ◽  
pp. 45-47
Author(s):  
Cynthia Tang ◽  
Bryan Ng ◽  
Gloria Ng
Keyword(s):  
Financial Services ◽  
Positive Impact ◽  
Early Stage ◽  
Active Role ◽  
Current Approach ◽  
Senior Management ◽  
Content Type ◽  
Civil Court ◽  
Guidance Note ◽  
The Impact

Purpose The purpose of this paper is to discuss the new “Guidance Note on Cooperation with the SFC” released by the Hong Kong Securities and Futures Commission (“SFC”) on 12 December 2017, which updates the SFC’s previous guidance note issued in 2006. Design/methodology/approach This paper explains key features to the guidance note, the SFC’s current approach in investigations and enforcement and the impact on regulated parties and senior management. In particular, the authors discuss what cooperation means in disciplinary, civil court and market misconduct tribunal proceedings. Findings The new guidance note confirms that the SFC will play an increasingly active role in investigations and that taking proactive steps at an early stage, including involving senior management, will have a positive impact on the outcome of the investigation. Originality/value Commentary and practical guidance from experienced securities enforcement and financial services regulatory enforcement lawyers.

Customer perception of adoption and use of digital financial services and mobile money services in Uganda

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Tapiwanashe James Museba ◽  
Edmore Ranganai ◽  
Gianfranco Gianfrate
Keyword(s):  
Qualitative Research ◽  
Financial Services ◽  
Social Impact ◽  
Positive Impact ◽  
Financial Inclusion ◽  
Bottom Of The Pyramid ◽  
Content Type ◽  
Customer Perception ◽  
Mobile Money ◽  
The Impact

Purpose This paper aims to investigate the impact of fintech, mobile money and digital financial services in Uganda and factors impacting adoption of the services. The study will also determine their social impact through financial inclusion in the Ugandan market. Design/methodology/approach This study covers the adoption and use of fintech, mobile money and digital financial services in Uganda. A case study approach was used through a survey questionnaire for 400 randomly selected participants within the Kampala region. Questionnaire was designed to measure customer perception of digital financial services and adoption including mobile money and agency banking. Findings The adoption of mobile money services is driven by mobile devices penetration and the need for access to financial products and services for the unbanked. Results support CGAP (2013) that observed that mobile money adoption was based on two key variables: social network and social interactions of the customer and a segment of customers who can be described as mobile technology leaders (early adopters). There has been positive impact on person to person transfers, grocery payments and mobile money providers have to continue to simplify the access to financial services and bring convenience to the bottom of the pyramid. And mobile money positively impacts sustainable developmental goals covering Gender Equality (SDG5), SDG 8 – Decent Work and Economic Growth; expanding financial inclusion through mobile money and SDG 10 – Reduce Inequalities. Research limitations/implications This study has limitations commonly prevalent with qualitative research, including the small size limited to Kampala and challenges of making generalisations beyond this context. Practical implications The paper might serve as a valuable source of information for government and fintech companies in developing the digital financial services ecosystem as well as for students and academics for further case studies in this area. Originality/value This paper serves as one of the first qualitative research papers concerning mobile money and digital financial services adoption, solely focused on Uganda. Its value is in its showcasing of the importance of mobile money among customers in emerging markets.

Open innovation in the new context of proof of concepts: evidence from Italy

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mariacarmela Passarelli ◽  
Giovanni Catello Landi ◽  
Alfio Cariola ◽  
Mauro Sciarelli
Keyword(s):  
Empirical Analysis ◽  
Development Process ◽  
Positive Impact ◽  
Early Stage ◽  
Development Project ◽  
Proof Of Concept ◽  
Content Type ◽  
Main Factors ◽  
The Impact ◽  
The Empirical Analysis

PurposeThe paper aims to advance knowledge by investigating the main factors that impact on innovation through the co-development process between researchers and firms at the very early stage of proof of concept.Design/methodology/approachThe authors developed an empirical analysis on the proof of concept network project, through a mixed empirical analysis. They explored the main factors that affect the enactment of the co-development process and tested the impact of such factors on the probability for partners to enact a co-development project and generate innovation.FindingsFrom the quantitative analysis comes out that the trust of the research team into the potentiality of the technology, the commitment of researchers concerning the scalability of technology and the IP value issued by external experts have a positive impact on the probability to create a match among partners and generate innovation.Research limitations/implicationsEven if all the population of technologies (108) considered in the project implementation are analyzed, the development of the empirical analysis on a specific project within a single country represents a limitation. Future analysis will concentrate on a larger panel of proof of concept experience across Europe.Practical implicationsThe success of a co-development process between researchers and companies at the embryonic phase of the technology considers the opportunity to exploit the technologies into real products for the market.Originality/valueThis is an empirical analysis of the first Italian proof of concept implementation that deeply investigates which critical factors can enable innovation by enacting a co-development process between researchers and small and medium-sized enterprises (SMEs).

scholarly journals THE IMPACT OF MICROFINANCE SUPPORT ON THE DEVELOPMENT OF MANUFACTURING SMEs OPERATING IN WINDHOEK, NAMIBIA

2022 ◽  
Vol 9 (12) ◽  
pp. 250-272
Author(s):  
Romeo Asa
Keyword(s):  
Financial Services ◽  
Financial Management ◽  
Financial Support ◽  
Capital Accumulation ◽  
Financial Constraints ◽  
Positive Impact ◽  
Early Stage ◽  
Microfinance Institutions ◽  
Qualitative Approaches ◽  
The Impact

Over the years, the superlative contribution of SMEs on economic growth predominantly in emerging states such as Namibia has been gaining considerable prestige at a rapid rate. However, deficient access to cost-effective financial adequacy remains a leading stumbling block that denies them the opportunity to survive in a competitive market, grow and develop above the average. That being true, the rate of SMEs’ failure continues to escalate precisely among those that are in their early stage of operation. To curb that specific issue, microfinance institutions (MFIs) intervene to provide dual supports through the delivery of financial and non-financial services. Access to such support helps SMEs to reduce their financial constraints, resulting in sound and viable development for businesses. In this respect, the central objective of this study was to investigate the impact of microfinance acquisition on SMEs’ development with reference to the manufacturing firms in Windhoek, Namibia. Evenly relevant, the study sought to further assess the effect of acquired microfinance support on competitiveness and finally devise suitable strategies that MFIs could adopt or adapt to improve the provision of microfinance services to penurious SMEs. The study employed a pragmatistic paradigm. Therefore, mixed research methods constituting both quantitative and qualitative approaches were utilised to successfully attain the threefold objectives of the study. 60 questionnaires were disseminated through emails to the sampled SMEs for data collection where only 44, accounted for 73% were considered for further analysis. Regarding financial support, the study assessed the matter based on technology enhancement, assets capital accumulation, job creation, business’ branches extension, and product development and expansion. Similarly, assessment on non-financial support was focused on managerial and leadership skills, as well as unblemished financial management. To test the nexus between microfinance support and SMEs’ development, multiple regression analysis was employed at 5% level of significance. Findings presented by the study revealed a positive strong relationship between the variables. More to that, the correlation between microfinance support and SMEs’ competitiveness was tested using correlation coefficient analysis and results found the variable to be statistically correlated. To this end, the study affirms that there exists a significant positive impact of microfinance support on SMEs’ development and competitiveness, implying that healthy and ample microfinance institutions are immensely essential to provide the required support lucratively, using the most satisfying strategies for a mutual benefit of the involved parties. Therefore, three strategies for improving the provision of microfinance support, constituting Public Credit Guarantee Schemes (PCGS); compensation of interest rate with the repayment period; and the provision of tools and equipment were designed. Also, the study recommended government intervention in formulating policies necessary for easing collateral requirements. More, MFIs are also advised to find ways for fastening their evaluation processes and give feedback on approval or disapproval of the application soon. They should also allow potential SMEs to borrow multiple times in a year or increase the principal amount. Finally, the study suggested future studies to focus on the role of the government in addressing SMEs’ financial constraints and use a longitudinal approach with a predominant focus on other sectors.  

Developing social intelligence among employees for effectively managing organizational change

2019 ◽  
Vol 34 (4) ◽  
pp. 13-15
Author(s):  
Meghna Goswami
Keyword(s):  
Organizational Change ◽  
Financial Services ◽  
Social Intelligence ◽  
Positive Impact ◽  
Information Technology Industry ◽  
Business Organizations ◽  
Content Type ◽  
Technology Industry ◽  
The Impact ◽  
Insight Into

Purpose The objective of this paper is to study the impact of social intelligence on attitude toward organizational change. Design/methodology/approach This paper is based on an empirical study conducted across information technology industry, banking and financial services industry and hospitality industry in India. Findings This paper shows the positive impact of social intelligence on attitude toward organizational change. Further, it provides various recommendations to develop social intelligence of employees in business organizations. Originality/value This paper provides insight into how social intelligence plays significant role in managing attitudes toward organizational change.

Income satisfaction among Millennials during COVID-19: the interplay among cognitive, noncognitive and financial factors

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Malvika Chhatwani
Keyword(s):  
Personality Traits ◽  
Financial Literacy ◽  
Financial Services ◽  
Positive Impact ◽  
Financial Education ◽  
High Income ◽  
Content Type ◽  
Noncognitive Factors ◽  
The Impact ◽  
Income Satisfaction

PurposeThe purpose of this study is to examine income satisfaction among Millennials during COVID-19. The authors explore the roles of cognitive factors: financial literacy and noncognitive factors: personality traits. Further, the authors also determine if financial status moderates the linkage between consumers' financial literacy and income satisfaction.Design/methodology/approachThe sample size of the study is 1754, and the data were collected from April to December 2020. The authors employ ordered logistic regression analysis in the study.FindingsThe authors find that financially literate Millennials report high-income satisfaction during the pandemic. However, the impact of the cognitive factor gets nullified after considering the role of noncognitive factors. Further, income moderates the linkage between financial literacy and income satisfaction such that financially literate consumers in the high-income category derived more income satisfaction.Practical implicationsConsumer financial education should become more pervasive, and the focus should be placed on high-income consumers as, without financial literacy, they may not report high-income satisfaction. Further, the marketers should also keep in mind that personality traits play an important role in consumers' overall satisfaction, so financial services and products should be designed considering consumer personality traits.Originality/valueThe primary contribution of the paper is to show the positive impact of cognitive and noncognitive factors on income satisfaction. Moreover, personality traits are stronger predictors of income satisfaction such that extroverted individuals have high satisfaction, whereas openness to experience and neuroticism is negatively related to income satisfaction among Millennials.

Impact of financial inclusion on poverty alleviation through cooperative banks

2018 ◽  
Vol 45 (5) ◽  
pp. 808-828 ◽  
Author(s):  
Tarsem Lal
Keyword(s):  
Financial Services ◽  
Poverty Alleviation ◽  
Positive Impact ◽  
Financial Inclusion ◽  
Primary Data ◽  
Content Type ◽  
Study Results ◽  
Depth Analysis ◽  
Cooperative Banks ◽  
The Impact

Purpose The purpose of this paper is to examine the impact of financial inclusion on poverty alleviation through cooperative banks. Design/methodology/approach In order to fulfil the objectives of the study, primary data were collected from 540 beneficiaries of cooperative banks operating in three northern states of India, i.e., J&K, Himachal Pradesh (HP) and Punjab using purposive sampling during July-December 2015. The technique of factor analysis had been used for summarisation of the total data into minimum factors. For checking the validity and reliability of the data, the second-order CFA was performed. Statistical techniques like one-way ANOVA, t-test and SEM were used for data analysis. Findings The study results reveal that financial inclusion through cooperative banks has a direct and significant impact on poverty alleviation. The study highlights that access to basic financial services such as savings, loans, insurance, credit, etc., through financial inclusion has generated a positive impact on the lives of the poor and help them to come out of the clutches of poverty. Research limitations/implications The study was conducted amidst few limitations. First, the in-depth analysis of the study is restricted to three northern states only because of limited resources and time availability. Second, the study is limited to the perception of financial inclusion beneficiaries only, which, in future, could be carried further on the perception of other stakeholders such as bank officials, business correspondents, village panchayats, etc. Originality/value The study makes contribution towards the financial inclusion literature relating to poverty alleviation and fulfils the research gap to some extent by assessing the impact of financial inclusion on poverty alleviation through cooperative banks. This paper can help the policymakers and other stakeholders of cooperative banks in promoting banking habits among poor rural households both at the national and international level.

Farm wages and public works

2015 ◽  
Vol 8 (1) ◽  
pp. 19-72 ◽  
Author(s):  
Kanika Mahajan
Keyword(s):  
Theoretical Model ◽  
Wage Rate ◽  
Fixed Effects ◽  
Positive Impact ◽  
Wage Growth ◽  
State Level ◽  
Random Allocation ◽  
Farm Sector ◽  
Content Type ◽  
The Impact

Purpose – The purpose of this paper is to examine the impact of National Rural Employment Guarantee Scheme (NREGS) on farm sector wage rate. This identification strategy rests on the assumption that all districts across India would have had similar wage trends in the absence of the program. The author argues that this assumption may not be true due to non-random allocation of districts to the program’s three phases across states and different economic growth paths of the states post the implementation of NREGS. Design/methodology/approach – To control for overall macroeconomic trends, the author allows for state-level time fixed effects to capture the differences in growth trajectories across districts due to changing economic landscape in the parent-state over time. The author also estimates the expected farm sector wage growth due to the increased public work employment provision using a theoretical model. Findings – The results, contrary to the existing studies, do not find support for a significantly positive impact of NREGS treatment on private cultivation wage rate. The theoretical model also shows that an increase in public employment work days explains very little of the total growth in cultivation wage post 2004. Originality/value – This paper looks specifically at farm sector wage growth and the possible impact of NREGS on it, accounting for state specific factors in shaping farm wages. Theoretical estimates are presented to overcome econometric limitations.

Customer satisfaction with sommelier services of upscale Chinese restaurants in Hong Kong

2019 ◽  
Vol 31 (4) ◽  
pp. 532-554 ◽  
Author(s):  
Tommy Lau ◽  
Man Lai Cheung ◽  
Guilherme D. Pires ◽  
Carol Chan
Keyword(s):  
Hong Kong ◽  
Customer Satisfaction ◽  
Service Quality ◽  
Customer Loyalty ◽  
Positive Impact ◽  
Partial Least Square ◽  
Least Square ◽  
Survey Method ◽  
Content Type ◽  
The Impact

Purpose The abolishment of the wine tax in Hong Kong has led to increased wine consumption and increased demand for wine-related professionals, such as sommeliers. Yet the importance of sommeliers’ value-adding performance in the context of upscale Chinese restaurants has not been examined. To address this gap, the SERVQUAL framework is adopted to examine the influence of sommeliers’ service quality (SQ) on customer satisfaction (CS) and loyalty in the context of upscale Chinese restaurants in Hong Kong. Design/methodology/approach The survey method is used to collect data from 302 units of the population of interest, partial least square-structural equation modelling (PLS-SEM) is used to test the links between constructs. Findings Four of the seven dimensions of sommeliers’ service quality, namely, empathy, tangibles, credibility and assurance, have a significant positive impact on customer satisfaction and customer loyalty, whereas the impact of perceived value and responsiveness on customer satisfaction and customer loyalty is positive but only marginally significant. Reliability has a weak and non-significant impact on customer satisfaction and customer loyalty. Research limitations/implications Examining a small number of upscale Chinese restaurants in Hong Kong limits generalisation of the findings to other contexts. Replication of the research in different contexts will enhance generalizability. In terms of implications, the discussion highlights the importance of sommeliers’ service performance on customers’ SQ perceptions SQ, CS and loyalty, all of which are important variables for restaurateurs. Originality/value To the best of the authors’ knowledge, this is the first study of the influence of the quality of sommelier’s SQ on CS and loyalty in upscale Chinese restaurants in Hong Kong. Given the lack of attention to this service role in the literature, the study contributes theory from which further understanding can develop.

The impact of quality framework application on patients’ satisfaction

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ayman Abu-Rumman ◽  
Ata Al Shraah ◽  
Faisal Al-Madi ◽  
Tasneem Alfalah
Keyword(s):  
Health Care ◽  
Patient Satisfaction ◽  
Patient Experience ◽  
Positive Impact ◽  
Large Hospital ◽  
Content Type ◽  
Strategic Value ◽  
Quality Awards ◽  
Improved Learning ◽  
The Impact

Purpose This study aims to explore if the application of the customer results criteria contained within the King Abdullah II Award for Excellence (KAIIAE) is correlated with high levels of patient satisfaction within a large hospital based in Jordan. Design/methodology/approach Using a mixed methodology, supported by a pragmatist theoretical approach, a satisfaction survey was conducted with patients accessing the hospital as an in-patient across a range of specialities gathering feedback about different aspects of their care. The results were compared with a self-assessment completed by different speciality teams about the existence and maturity of customer result arrangements implemented as a result of the (KAIIAE). Findings The findings confirmed that quality awards such as the KAIIAE can effectively be applied in a health-care setting and can help provide a framework for improving patient experience and satisfaction. A correlation was found with those specialties that self-assessed themselves more highly in terms of these arrangements and the overall levels of patient satisfaction with that specialty, suggesting that the products of working towards the KAIIAE such as establishing effective patient experience monitoring arrangements and improved learning from complaints, has a positive impact on patient satisfaction. Originality/value There are limited studies which focus specifically on customer results and on the use of the KAIIAE more generally. This study therefore makes a valuable contribution in adding to the debate about the strategic value of working towards formal quality improvement models and awards in health-care settings.

Social media activity: its impact on career-related perceptions

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kimberly W. O'Connor ◽  
Kimberly S. McDonald ◽  
Brandon T. McDaniel ◽  
Gordon B. Schmidt
Keyword(s):  
Social Media ◽  
Online Learning ◽  
Career Satisfaction ◽  
Media Use ◽  
Positive Impact ◽  
Amazon Mechanical Turk ◽  
Social Media Use ◽  
Content Type ◽  
The Impact ◽  
Career Benefits

Purpose The purpose of this exploratory study is to examine individual perceptions about the impact that social media use has on career satisfaction and perceived career benefits. We examined whether informal online learning through “typical” types of social media behaviors (e.g. liking a post or messaging another user) and “networking” types of social media behaviors (e.g. endorsing another user, writing recommendations, going “live,” or looking for a job) impacted career-related perceptions. Design/methodology/approach In this study, we analyzed Amazon Mechanical Turk survey data gathered from adult participants (n = 475). We focused our inquiry specifically on two social media sites, Facebook and LinkedIn. We asked participants about their social media use and behaviors, as well as their perceptions of career satisfaction and career benefits related to social media. Findings We found that both typical and networking types of social media behaviors positively predicted the “knowing whom” career competency (defined as career relevant networks and contacts that individuals use to develop their careers) and career satisfaction. Only networking behaviors were positively associated with perceived career benefits of social media use. We further found that LinkedIn users’ career satisfaction was lower compared to non-LinkedIn users. Originality/value This study adds to the small, but growing body of career research focusing on social capital and social media. Our results suggest that informal online learning via social media may have a positive impact on employees’ career-related perceptions.

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