Are business students more financially literate? Evidence of differences in financial literacy amongst Portuguese college students

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Paulo Duarte ◽  
Susana Silva ◽  
Wilian Ramalho Feitosa ◽  
Rui Sebastião
Keyword(s):  
Higher Education ◽  
College Students ◽  
Financial Literacy ◽  
Positive Impact ◽  
Business Students ◽  
Financial Education ◽  
Educational Interventions ◽  
Online Questionnaire ◽  
Content Type ◽  
The Impact

Purpose Considering the importance of financial literacy (FL) in people’s lives the goal of this study aims to assess the level of FL of young Portuguese students, addressing the impact of the level of education on the FL of college students. Design/methodology/approach Data from a non-probabilistic sample of 185 students attending higher education bachelor’s and master’s degrees courses in Economics, Management and Marketing was collected between February 25 and March 23, 2019, using an online questionnaire. Descriptive and inferential statistics were computed using IBM SPSS 25 to analyze the data. Findings The findings show that the level of the degree (bachelor’s or master’s degree) and the academic background of the individual’s parents have a positive impact on FL. Moreover, among individuals with a high level of FL, gender and professional situation are additional predictors. Furthermore, the authors observed that the level of FL of Portuguese students attending higher education is overall low, especially in terms of their knowledge of the main financial concepts, which may call for public policies to be implemented so that to reduce this vulnerability. Research limitations/implications Among limitations is the limited sample collected, restricted to a particular target, Portuguese students attending business-related courses such as Economics, Management and Marketing, either studying for a master’s or bachelor’s degree. This issue restricts the generalization of the overall findings to other students studying different fields. Future studies can collect a random and representative sample. Practical implications This study test can be replicated to generate a diagnosis in any region or country, identifying how financially literate the region under analysis is. Also, this can be done to verify the evolution of FL after educational interventions. Social implications FL is an important competence. In fact, youngsters in the whole world have been suffering from a lack of financial knowledge (FK), and some characteristics of them can push them into indebtedness, and, even bankruptcy, such as a higher level of status consumption, the tendency to have an attitude of self-appraisal, to be self-centered, to seek instant gratification. This study helps to lead to a better understanding of this phenomenon. Originality/value Addressing college students attending different levels is an add-on to the existing body of literature. This paper contributes to study differences in FL between college and master students, enlightening and evaluating the role of scholarship maturity on financial education. Furthermore, some of the findings challenge the extant knowledge regarding the influence of professional experience, gender and age on the level of FK that students have. Finally, the current approach is innovative as it addresses FK, FL and numeracy in the same study.

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.

scholarly journals Impact of first-year seminar on student engagement, awareness, and general attitudes toward higher education

2018 ◽  
Vol 10 (1) ◽  
pp. 15-30 ◽  
Author(s):  
Bothaina A. Al-Sheeb ◽  
Mahmoud Samir Abdulwahed ◽  
Abdel Magid Hamouda
Keyword(s):  
Higher Education ◽  
Student Engagement ◽  
Positive Impact ◽  
First Year ◽  
Content Type ◽  
College Of Law ◽  
First Year Seminars ◽  
Campus Resources ◽  
The Impact ◽  
First Year Seminar

Purpose This study intends to add to the existing body of literature on the impact of a newly implemented first year seminar in the College of Law and Business. The purpose of this paper is to evaluate the effects the course have on students in regard to three aspects: student awareness and utilization of resources, interaction patterns, as well as, general interests and attitudes toward higher education. Design/methodology/approach The methodology of the assessment included analysis of a survey that has been conducted by the end of Spring 2014 semester. A quasi-experimental design was implemented to measure the impact of the intervention on students’ awareness and utilization of resources, interactions, general interests, and attitudes toward higher education. Through the SPSS application, the Mann Whitney U Test, and χ2 tests were used to check for significant differences while comparing the means or frequencies for both groups. For the three questions, the authors have used the 90 percent confidence level and the standard significance level p-value of 0.05 or less for statistical analysis. Findings The results indicated that the course had a highly significant positive impact on student attitudes and awareness of campus resources but had less significant impact on student interactions and utilization of resources. The results in this study reveal a positive impact for the first-year seminar course on student satisfaction and attitudes toward higher education as well as their awareness of campus resources. However, in terms of the course impact on student interaction, results conveyed that students who have participated in the first-year seminar course show a slightly better interaction rate with instructors, academic advisors, and close friends than those in the control group. Research limitations/implications The main limitation of this study was that the sample was small. Nonetheless, it has provided valuable insights into the understanding of the social and academic impact of first-year seminars on student engagement; through the use of comparison groups, this study increased the validity of prior research. Practical implications The first-year seminar course evaluated in this study demonstrated the potential to support and enhance student social and academic engagement during the first year of college. Based on the results in this study, the study team recommended some revisions to the current first-year seminar model (UNIV P100 Skills for University Success). The team proposed three models for subsequent first-year seminars at this university. Originality/value This study adds to the existing literature by examining the impact of a newly implemented first-year seminar course at the College of Law and Business at this university on both academic and non-academic aspects from the students’ perspective. These aspects were selected as retention and GPA effects have been widely explored; therefore, the focus is on the less studied emotional and social factors associated with student success and retention. The results from this study can act as a guide for universities intending to introduce a first-year seminar course as it gives clear guidelines on design, content, and course implementation, which can be useful in enhancing general student motivation and attitudes toward academic study and higher education in general.

Impact of perceived experiential advertising on customers' responses: a multi-method approach

2020 ◽  
Vol 38 (6) ◽  
pp. 1237-1258
Author(s):  
Caroline Lacroix ◽  
Lova Rajaobelina ◽  
Anik St-Onge
Keyword(s):  
Affective Commitment ◽  
Banking Sector ◽  
Positive Impact ◽  
Structural Equations ◽  
Three Dimensions ◽  
Expression Recognition ◽  
Online Questionnaire ◽  
Content Type ◽  
Brand Credibility ◽  
The Impact

PurposeThis article proposes two studies to demonstrate the impact of three dimensions of perceived experiential advertising – cognitive/affective/sensory advertising, relate advertising and behavioural advertising – on consumer behaviour (brand credibility, affective commitment and emotions) in the banking sector.Design/methodology/approachFor study 1, a total of 506 online panellists of a recognized Canadian research firm were asked to evaluate a local bank advertisement using an online self-reported questionnaire. For study 2, a total of 65 Canadian respondents recruited through Facebook and Google adverts were asked to watch two video advertisements (one more experiential and the other less experiential). After viewing the advertisements on a computer equipped with FaceReader software by Noldus, participants completed a short online questionnaire.FindingsUsing structural equations modelling, the first study shows that brand credibility explains the positive impact of perceived cognitive/affective/sensory advertising (complementary mediation) and perceived behavioural advertising (indirect mediation only) on affective commitment. The second study illustrates that the cognitive/affective/sensory dimension is more important for experiential advertising than experiential advertising. Employing FaceReader facial expression recognition software results indicate that the bank advertisement with a higher score of perceived cognitive/affective/sensory advertising produces a higher level of happiness among respondents.Originality/valueBoth studies provide new insights into perceived experiential advertising and the impact of the latter on consumers. Benefits to scholars and practitioners include an enhanced understanding of advertising effectiveness in the banking sector.

scholarly journals Critical Analysis of Pensions Taking into Account Selected Aspects of Financial Literacy

2020 ◽  
Vol 6 (3) ◽  
pp. 29-35
Author(s):  
Alexander Zureck ◽  
Viktoria Daus ◽  
Philippe Krahnhof
Keyword(s):  
Financial Literacy ◽  
Critical Analysis ◽  
Positive Impact ◽  
Financial Education ◽  
Scientific Paper ◽  
Net Income ◽  
Academic Degree ◽  
Federal States ◽  
The Impact ◽  
Positive Effect

In this study we investigate the impact of government debt on the economic growth of General financial education, so-called financial literacy, which plays an essential role in private retirement provisions. A study by the Organization for Economic Co-operation and Development (OECD) in 2015 shows that financial literacy is not prevalent in Germany (OECD, 2015). The aim of this scientific paper is to underline the importance of financial literacy for private retirement provisions. Due to the falling level of pensions in Germany, investments in a private pension are essential. Therefore, a regression analysis is carried out. An academic goal is to analyze if gender, net income and academic degree have a positive impact on financial literacy. In summary, it can be said that there is a significant influence of gender. With regard to the significant imbalance in the gender distribution (three quarters are male), the data should be expanded in the future. While net income as well as academic degree both have positive effect, correlation was only shown for net income. An ideal level of private retirement provisions was not determined in the empirical study. Based on these empirical insights, it is recommended that the federal states should invest in the financial education of their citizens to counteract poverty in age.

Exploring factors influencing online classes due to social distancing in COVID-19 pandemic: a business students perspective

2020 ◽  
Vol 37 (4) ◽  
pp. 197-211 ◽  
Author(s):  
Adil Zia
Keyword(s):  
Business School ◽  
Negative Impact ◽  
Positive Impact ◽  
Business Students ◽  
Primary Data ◽  
Online Classes ◽  
Content Type ◽  
Social Distancing ◽  
The Impact ◽  
And Training

PurposeThis study explores the factors responsible for influencing online classes for business school during the COVID-19 pandemic. This study also examines the level of influence of these factors on online classes.Design/methodology/approachPrimary data were collected online from 716 business school students using a questionnaire developed by the researcher. Smart PLS3 software was used to analyze the data.FindingsAttitude, curriculum, motivation, technology and training were found to have an impact on online classes. Three variables (attitude, motivation and training) have a positive impact on online classes, whereas two variables (curriculum and technology) have a negative impact on the online classes. All the factors have been found to be significant except technology which is found to have an insignificant impact (p = 0.356) on online classes.Research limitations/implicationsOnly one university’s students were surveyed.Practical implicationsOutlines the factors which have a positive and significant impact on online classes during COVID-19 pandemic. This study can be generalized through a student's community across the world as the students face similar problems associated with online classes during the COVID-19 pandemic.Social implicationsSuggest factors that can be considered while COVID-19 pandemic during social distancing to make online classes more effective and to reduce the impact of this pandemic.Originality/valueNo study has documented the factors associated to impact the online classes during the COVID-19 pandemic.

Does entrepreneurs’ improvisational behavior improve firm performance in time of crisis?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Peerayuth Charoensukmongkol
Keyword(s):  
Firm Performance ◽  
Human Resources ◽  
Structural Equation ◽  
Positive Impact ◽  
Small And Medium Enterprises ◽  
Equation Modeling ◽  
Online Questionnaire ◽  
Competitive Intensity ◽  
Content Type ◽  
The Impact

Purpose This paper examines the effect of improvisational behavior of entrepreneurs on firm performance of small and medium enterprises (SMEs) in Thailand during the economic crisis following the COVID-19 pandemic. The study also explores external factors in terms of competitive intensity and internal factors in terms of financial and human resources possessed by firms that could enhance the impact of improvisational behavior on firm performance. Design/methodology/approach A self-administered online questionnaire survey was used to collect the data from the random sample of 312 SMEs in Thailand. Partial least squares structural equation modeling was used to analyze the data. Findings The analysis supports the positive relationship between the improvisational behavior of entrepreneurs and firm performance. Moreover, the moderating effect analysis shows that the positive impact of improvisational behavior on firm performance tends to be stronger for firms that encountered a higher level of competitive intensity and for firms that possessed a higher level of financial and human resources. Originality/value This research extends the knowledge from prior research by confirming some moderating factors that could strengthen the benefit of improvisational behavior during the crisis.

Assessment of the Lean effect on business performance: the case of manufacturing SMEs

2019 ◽  
Vol 31 (3) ◽  
pp. 501-523 ◽  
Author(s):  
Catarina Maurício Valente ◽  
Paulo Sérgio Amaral Sousa ◽  
Maria Rosário Alves Moreira
Keyword(s):  
Performance Measures ◽  
Structural Equation ◽  
Positive Impact ◽  
Market Performance ◽  
Successful Implementation ◽  
Online Questionnaire ◽  
Lean Implementation ◽  
Content Type ◽  
Lean Practices ◽  
The Impact

Purpose The purpose of this paper is to research the way in which Lean practices are affecting the performance of manufacturing small and medium enterprises (SMEs), analyzing the effects of Lean practices on companies’ operational, financial and market performance. Design/methodology/approach An online questionnaire was distributed among Portuguese organizations that fitted the category of SMEs and belonged to the manufacturing sector. A sample of 329 enterprises was analyzed with partial least squares–structural equation modelling. Four hypotheses on the impact of Lean practices on company performance were tested. Findings The results show that the effects of Lean on performance are positive, which stresses the benefits attainable with the implementation of Lean practices. The aggregated implementation of Lean practices, namely, customer involvement, statistical process, continuous flow and total productive maintenance leads to improvements in company’s global performance measured by market, financial and operational performance measures, and also improves each of these performance measures individually. It was also noticed that financial capability is one of the indispensable factors for the successful implementation of Lean practices. Research limitations/implications The results contribute to the investigation on the topic, broadening the literature on the implementation of Lean practices in companies around the world. Practical implications The research outcomes may be used as a motivation for other SMEs to implement Lean practices by acknowledging the positive impact on their performance. Furthermore, the degree of Lean implementation in the particular industry may constitute a signal for government and/or economic decision makers to define incentives such as fiscal benefits for companies that engage in Lean implementation programmes, partly financing workers cross-training, among other necessary investments. Originality/value This is the first study that examines the impact of the effect of Lean on operational, financial and market performance in a discriminated and simultaneous way.

The status of electronic teaching within South African LIS Education

2020 ◽  
Vol 41 (6/7) ◽  
pp. 317-337
Author(s):  
Mabel K. Majanja
Keyword(s):  
Online Education ◽  
South African ◽  
Self Efficacy ◽  
Positive Impact ◽  
Survey Design ◽  
World View ◽  
Technical Support ◽  
Online Questionnaire ◽  
Content Type ◽  
The Impact

PurposeTo determine the perceived self-efficacy of South African LIS academics in e-teaching as a co-requisite to imparting relevant ICT knowledge and skills to LIS students.Design/methodology/approachThe study was underpinned by the pragmatic world view, which allows a researcher to choose a combination of methods, techniques and procedures that best meets the needs and purposes of the study. Based on the purpose and objectives of the study, and the type of data needed, a quantitative approach, employing the descriptive survey design was used. An online questionnaire with both structured and unstructured questions was distributed to 79 LIS academics in 8 universities and attracted a 68.4% response rate. Structured responses were computed directly as quantitative data, while the unstructured answers were aggregated under themes and analysed quantitatively.FindingsThe findings show that LIS academics in South Africa have not been left behind in the trends regarding e-teaching, and most of them feel quite confident about their self-efficacy in e-teaching. A variety of Learning Management Systems and e-tools are in use and relevant policies and technical support available. Most LIS academics, to re-/up-skill themselves, employ diverse heutagogical strategies. However, the e-teaching support in terms of resources and technical support are inadequate because some universities are deficient in their provision of ICTs and e-learning guidelines.Research limitations/implicationsThe limitations of the study is that this was a time-bound study that focused merely on the basic level investigation A further in-depth probing of the real (as opposed to self) levels of e-teaching efficacy and how heutagogy can be explored or advocated is necessary.Practical implicationsThe implications of the results are that (1) South African LIS academics are well fairly well prepares to face the impact of COVID-19, which has forced universities to turn to virtual/online education (2) Heutagogical approach should be explored as a method of further improving the capabilities of e-teachers, in order to (3) pass forward a positive impact on LIS graduates by preparing them to be agile for a modern work environment. (4) universities have to provide sufficient resources to support academics in their endeavour to continually improve their teaching.Social implicationsTopical in the face of the novel coronavirus.Originality/valueOptimal

Entrepreneurial intentions: the role of family factors, personality traits and self-efficacy

2017 ◽  
Vol 13 (4) ◽  
pp. 303-317 ◽  
Author(s):  
Muhammad Farrukh ◽  
Azeem Ahmad Khan ◽  
Muhammad Shahid Khan ◽  
Sara Ravan Ramzani ◽  
Bakare Soladoye Akeem Soladoye
Keyword(s):  
Personality Traits ◽  
Self Efficacy ◽  
Structural Equation ◽  
Positive Impact ◽  
Family Background ◽  
Business Students ◽  
Entrepreneurial Intentions ◽  
Equation Modeling ◽  
Content Type ◽  
The Impact

Purpose The purpose of this paper is to investigate the impact of family background, big five personality traits and self-efficacy on entrepreneurial intentions (EIs) of business students in private universities in Pakistan. Design/methodology/approach Data were collected with the help of structured questionnaires, 500 questionnaires were distributed among the students and 306 useable questionnaires were received and analyzed. Structural equation modeling was used to investigate the relationship among the study variables. SmartPLS was utilized to run the analysis. Findings The findings revealed a strong relationship between the exogenous and endogenous variables. The variance accounted by the independent variables was 74.3 percent in the EIs of the students. Family background was found to have a positive impact on the EIs of students. The findings also showed a positive relationship between self-efficacy and EIs. Consciousness, extroversion and openness to experience are positively linked with EIs while neuroticism and agreeableness did not show any relationship. Originality/value The study’s findings attract the attention of the academicians to take note of the factors examined while training the students the art of entrepreneurship. This is because this study has revealed that if these factors are not present the intention of the students to start a business venture may prove to be weak. Entrepreneurial activities are one of the biggest ways to reduce unemployment, thus, it is suggested that academicians should develop psychological plans and training to motivate the students to convert their intentions into actions.

Improving financial literacy in college of business students: modernizing delivery tools

2019 ◽  
Vol 37 (4) ◽  
pp. 976-990 ◽  
Author(s):  
Ronald Kuntze ◽  
Chen (Ken) Wu ◽  
Barbara Ross Wooldridge ◽  
Yun-Oh Whang
Keyword(s):  
Financial Literacy ◽  
Business Students ◽  
Past Research ◽  
Personal Finance ◽  
Business Majors ◽  
College Majors ◽  
Teaching Innovation ◽  
Content Type ◽  
College Of Business ◽  
The Impact

PurposeThe purpose of this paper is to develop and test through an experiment, an innovative online video teaching module that significantly improves financial literacy in college of business students. Specific business major financial literacy levels are also tested.Design/methodology/approachA total of 244 college of business students were given a financial literacy test. Half of the students were exposed to the “treatment” (watched a video module), while other half were not. The videos comprised 67 min of micro-lectures that students could download, free of charge, at their own convenience. The researchers analyzed the impact of a previous personal finance course on students’ financial literacy levels and tested across four business majors.FindingsThe video intervention was the most successful at increasing financial literacy, surprisingly more so than having taken a past personal finance course. Interaction effects were not significant. Four college majors were tested with a shorter, improved financial literacy measure – finding, to our surprise that non-quantitative business majors (particularly marketing students) are not less financially literate than other majors. Supporting past research, the authors found that female and African-American college students performed significantly lower on the test.Originality/valueThe research adds value to the literature by developing and testing a modern, novel teaching innovation to improve financial literacy in young adults. Using an experimental setting, the authors showed that the innovation was more effective than the commonly proscribed personal finance course. This is one of the few studies to measure financial literacy levels for specific college of business majors.

Sign in / Sign up

Export Citation Format

Share Document