scholarly journals The Effect of Women's Financial Self-Efficacy on Financial Product Ownership

2020 ◽  
Vol 23 (2) ◽  
Author(s):  
Njo Anastasia ◽  
Mellicha Jeni Lestaritio
Keyword(s):  
Life Insurance ◽  
Financial Literacy ◽  
Self Efficacy ◽  
Informal Education ◽  
Financial Risk ◽  
Binary Logistic Regression ◽  
Financial Products ◽  
Product Choices ◽  
The Government ◽  
Female Clients

The government is intensively implementing formal and informal education to improve individual financial literacy. This study aims to examine the effect of women's financial self-efficacy on financial product ownership, controlling for contributing to financial literacy, financial risk preferences, and demographic factors. The sample consists of 253 female respondents who live in Surabaya and already have financial products. The data are collected using questionnaires and processed using binary logistic regression. The results show that women's financial self-efficacy significantly affects the choice of financial products in the form of investment, credit cards, and other loans. However, it does not significantly affect the choice of financial products in the form of savings, mortgages, health insurance, and life insurance. This study is expected to provide benefits in developing learning methods to appropriately improve women's financial literacy according to the available financial product choices. Besides, this study is also expected to provide advice to female clients to diversify their investment product portfolios according to their personalities to achieve their financial goals.

scholarly journals PENGARUH LITERASI KEUANGAN DAN SIKAP KEUANGAN TERHADAP PERILAKU PENGELOLAAN KEUANGAN KELUARGA DI MASA PANDEMI COVID-19 DENGAN SELF EFFICACY SEBAGAI VARIABEL INTERVENING

2021 ◽  
Vol 1 (1) ◽  
pp. 630-644
Author(s):  
Ina Khodijah ◽  
Raden Irna Afriani ◽  
Yuliah Yuliah ◽  
Yollanda Octavitri
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Self Efficacy ◽  
Sampling Technique ◽  
Economic Life ◽  
Primary Data ◽  
P Value ◽  
Management Behavior ◽  
Financial Attitudes ◽  
The Government

The effect of the PSBB or PPKM implemented by the government has changed the economic life of the Indonesian people in general, so that housewives must be able to manage their family finances well. With her knowledge and confidence in managing every family's expenses by adjusting her husband's income. This study aims to examine the effect of Financial Literacy and Financial Attitude on Financial Management Behavior of Women Farmers Group with Self Efficacy as Intervening Variable. This research is a quantitative research with data collection techniques using a questionnaire. The sample is 30 respondents. The sampling technique used is saturated sampling. Primary data processing using path analysis techniques using SMART PLS 3 software. he results of the research hypothesis 1 have a P value of 0.001 so that it rejects Ho and accepts Ha. Hypothesis 2, obtained a P value of 0.027 so that it rejects Ho and accepts Ha. Hypothesis 3, the result of P value is 0.781 so that it accepts Ho and rejects Ha. Hypothesis 4, the result of P value is 0.450 so that it accepts Ho and rejects Ha. And hypothesis 5, the result of P value is 0.773 so that it accepts Ho and rejects Ha. The conclusion is that financial literacy has a significant effect on financial management behavior, while financial attitudes have a significant effect on financial management behavior. And Self Efficacy has no influence on financial management behavior. In addition, the results of the study show that Self Efficacy is not able to mediate financial literacy on financial management behavior and is also unable to mediate between financial attitudes and financial management behavior

scholarly journals Financial literacy and the use of financial services in Serbia

2021 ◽  
pp. 105-114
Author(s):  
Slađana Barjaktarović-Rakočević ◽  
Nela Rakić ◽  
Marina Ignjatović ◽  
Milica Stevanović
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Financial Education ◽  
Middle Income ◽  
Financial Decisions ◽  
Financial Decision Making ◽  
Financial Products ◽  
Decision Making Processes ◽  
Financial Decision ◽  
The Government

Financial services industry has always drawn a lot of attention, from possible investors, those who need financing, the government and general public. Globally, financial opportunities are becoming more attractive, but also more complex. The goal of this study is to analyze the use of financial services in Serbia. We argue that financial education and literacy are preconditions for the use of financial opportunities. Research has shown that people in Serbia are not well informed about how to make sound financial decisions. The reasons why people in Serbia do not use financial products requires to a greater extent and services special attention. In order to test the differences between people in terms of how well informed they are and which services they use and why, we conducted a survey. Our results show that people with salaries higher than 100,000 RSD are well informed but not motivated to invest. Individuals with middle income do not have enough trust and think that they are not well informed about different opportunities. Additionally, we found that men are better informed than women. This paper aims to provide an overview of the use of financial services in Serbia in order to improve financial decision-making processes and understand the different financial opportunities.

scholarly journals Women's Risk Tolerance in Indonesia

2020 ◽  
Vol 3 (2) ◽  
pp. 87-102
Author(s):  
Firda Nosita
Keyword(s):  
Risk Factors ◽  
Data Collection ◽  
Financial Literacy ◽  
Financial Services ◽  
Risk Tolerance ◽  
Public Knowledge ◽  
Financial Decisions ◽  
Financial Products ◽  
The Government

The Financial Services Authority (OJK) survey on 2016 shows that the financial literacy index in Indonesia is 21.8% approximately. There are a lot of illegal investment in the Indonesian society in recent years is proof that the Indonesian people have not been well-literated and have not fully understood the benefits and risks of investment. Efforts to improve financial literacy are aimed at certain groups of people such as women and housewives. Risk factors are important in financial decisions. Previous research has concluded that women often avoid risk and are more intolerant of risk than men. This study aims to determine whether risk tolerance in women is different from men. Data collection techniques were carried out using questionnaires distributed online to 850 samples of Indonesian people representing three regions of Indonesia, namely the western, central and eastern regions of Indonesia. The results showed that there were no significant differences between women and men in terms of risk tolerance, these results indicate that both women and men have identical viewpoint of risk. The government could conduct education and increase public knowledge without differentiating financial products for women and men.

scholarly journals EFEKTIVITAS GERAKAN LITERASI KEUANGAN SYARIAH DALAM MENGEDUKASI MASYARAKAT MEMAHAMI PRODUK KEUANGAN SYARIAH

2019 ◽  
Vol 5 (1) ◽  
pp. 10
Author(s):  
Hani Meilita Purnama ◽  
Indri Yuliafitri
Keyword(s):  
Financial Institutions ◽  
Financial Literacy ◽  
Financial Services ◽  
Education Programs ◽  
Muslim Population ◽  
The Public ◽  
Industry Sector ◽  
Financial Products ◽  
The Government ◽  
The Right

[English] The Shari'ah financial literacy movement is a strategic effort to support the government in educating the public to understand Islamic financial products. Islamic financial products have three pillars, among others, Promoting education programs and national financial literacy campaigns, Strengthening financial literacy infrastructure. With the rapid sharia industry sector and the sizeable Muslim population in Indonesia, it has an impact on the importance of Islamic Financial Literacy to introduce Islamic financial products to the public. This study uses the Library Review method by exploring various reports and journals that are available to obtain information regarding the background of the problem. The purpose of this study was to determine the effectiveness of the Islamic financial literacy movement that has been carried out by the Financial Services Authority (OJK) and other Financial Institutions to find the right solution for the acceleration of Islamic Financial Literacy. [Indonesia] Gerakan literasi keuangan Syariah adalah upaya strategis untuk mendukung pemerintah dalam mendidik masyarakat untuk memahami produk keuangan Islam. Produk keuangan syariah memiliki tiga pilar, antara lain; mempromosikan program pendidikan dan kampanye literasi keuangan nasional, memperkuat infrastruktur literasi keuangan dengan sektor industri syariah yang cepat dan populasi Muslim yang cukup besar di Indonesia, ini berdampak pada pentingnya Literasi Keuangan Islam untuk memperkenalkan produk keuangan Islam kepada publik. Penelitian ini menggunakan metode Library Review dengan mengeksplorasi berbagai laporan dan jurnal yang tersedia untuk memperoleh informasi mengenai latar belakang masalah. Tujuan dari penelitian ini adalah untuk mengetahui efektivitas gerakan literasi keuangan syariah yang telah dilakukan oleh Otoritas Jasa Keuangan (OJK) dan Lembaga Keuangan lainnya untuk menemukan solusi yang tepat untuk percepatan literasi keuangan syariah.

scholarly journals Expert Study of the Execution of the Terms of an Investment Life Insurance Contract

2021 ◽  
Vol 16 (1) ◽  
pp. 78-91
Author(s):  
O. A. Abelev ◽  
M. M. Vinogradova ◽  
M. G. Nersesyan
Keyword(s):  
Stock Market ◽  
Life Insurance ◽  
Financial Literacy ◽  
Insurance Contract ◽  
Financial Instruments ◽  
Financial Products ◽  
Expert Opinions ◽  
Bank Deposits ◽  
Reference Information ◽  
Expert Study

A significant decrease in bank deposits’ profitability forces citizens to look for more profitable investment options, including purchasing various financial products. One such product is an investment life insurance contract. However, investors’ expectations are not always fully met since dealing with financial instruments, such as options, requires a certain of financial literacy, understanding of the futures stock market’s organization and functioning. Arising disputes are often resolved in court. To obtain answers to economical questions, a forensic examination is appointed and carried out.Forensic analysis on this topic has some features that are discussed in the article. The paper gives a list of objects for expert research and their brief characteristics. The main sources of reference information on quotations of financial instruments are provided. Some concepts and economic categories related to the stock market and derivatives are considered. The Russian and English terms used by the experts during the study are presented and explained.Using an example from expert practice, the authors explain the logic of the analysis of an option contract and show the sequence of actions that makes it possible to calculate the investment income amount. The article justifies the conditions that restrict the experts when carrying out calculations and should be taken into account when forming and studying the expert opinions.

The Effect of Investments and Risk Based Capital (RBC) of Tabarru Funds on Company (Case Study of Sharia Insurance in Indonesia for 2014-2019)

2020 ◽  
Vol 8 (1) ◽  
pp. 87-97
Author(s):  
Nana Diana ◽  
Tati Apriani
Keyword(s):  
Life Insurance ◽  
Statistical Tests ◽  
Linear Regression Analysis ◽  
Sampling Technique ◽  
Multiple Linear Regression Analysis ◽  
Insurance Companies ◽  
Coefficient Of Determination ◽  
Verification Method ◽  
Investment Returns ◽  
The Government

This study aims to examine the influence of investment returns and Risk Based Capital (RBC) Tabarru Funds to the profit of sharia life insurance in Indonesia from 2014-2019. This study The type of this research is quantitative research with descriptive verification as a method. This research method uses descriptive verification method with quantitative approach. The data used in this study were sourced from the financial statements of Islamic life insurance companies in Indonesia for the 2014-2019 period. Then the data obtained were analyzed using multiple linear regression analysis and hypothesis testing consisting of t test and f test with the help of SPSS 21 software. The sampling technique uses non probability sampling with purposive sampling technique. Based on the results of the study it can be seen that the development of investment returns on Sharia Life Insurance in Indonesia has fluctuated and even suffered losses. While the development of Risk Based Capital (RBC) has increased and decreased but overall above 120% as determined by the government. Likewise, the profits earned in each year fluctuate. The results of statistical tests show that investment results partially have a positive effect on profit and Risk Based Capital (RBC) of Tabarru funds partially has a negative effect on profit. Simultaneously investment return and Risk Based Capital (RBC) affect on profit. In addition, the results of the coefficient of determination (R2) were obtained which obtained a value of 81%. This shows that the variable investment returns and Risk Based Capital (RBC) can affect earnings by 81% and the remaining 19% is influenced by other variables not used in this study.

Prevalence and risk factors of anaemia among men: A study based on Empowered Action Group states, India

2021 ◽  
pp. 026010602098234
Author(s):  
Pradeep Kumar ◽  
Himani Sharma ◽  
Kamalesh Kumar Patel
Keyword(s):  
Family Health ◽  
Public Health Problem ◽  
Binary Logistic Regression ◽  
Bivariate Analysis ◽  
Cross Sectional Survey ◽  
Cross Sectional ◽  
Action Group ◽  
Nationally Representative ◽  
The Government ◽  
Eag States

Background: Despite various programmes initiated by the Government of India, the nutritional indicators are not encouraging, as several problems like undernutrition, malnutrition and anaemia – still persist in the country, especially in the Empowered Action Group (EAG) states. Aim: Because of the dearth of studies regarding anaemia among men in India, the present study aimed to determine its prevalence in this population in the EAG states and to analyse its geographical and socio-demographic determinants. Methods: The study utilized nationally representative, cross-sectional survey data from round 4 of the National Family Health Survey conducted in 2015–16. Bivariate analysis along with binary logistic regression were performed to assess the predictors of anaemia among men in the EAG states. Results: Around a quarter of the men in the EAG states suffered from anaemia. A similar high-prevalence pattern was observed across the EAG states. Wherein, Bihar and Jharkhand had the highest prevalence of anaemia while Uttarakhand showed the lowest. Age, place of residence, marital status and caste were positively associated with the likelihood of anaemia among men in the EAG states. Conclusions: Focusing on the EAG states, this study considered the severity of anaemia as a public health problem among men. Strategies to reduce the burden of anaemia among this population are needed. The government should formulate programmes targeting anaemia specifically, and improving the nutritional status among men in general in the EAG states.

scholarly journals The future of social care funding: who pays?

2016 ◽  
Vol 22 (1) ◽  
pp. 10-44 ◽  
Author(s):  
T. Kenny ◽  
J. Barnfield ◽  
L. Daly ◽  
A. Dunn ◽  
D. Passey ◽  
...  
Keyword(s):  
Phase 1 ◽  
List Type ◽  
Political Debate ◽  
Term Care ◽  
Means Testing ◽  
Financial Products ◽  
Funding System ◽  
The Government ◽  
The Uk ◽  
Care Costs

AbstractWith the UK population ageing, deciding upon a satisfactory and sustainable system for the funding of people’s long-term care (LTC) needs has long been a topic of political debate. Phase 1 of the Care Act 2014 (“the Act”) brought in some of the reforms recommended by the Dilnot Commission in 2011. However, the Government announced during 2015 that Phase 2 of “the Act” such as the introduction of a £72,000 cap on Local Authority care costs and a change in the means testing thresholds1 would be deferred until 2020. In addition to this delay, the “freedom and choice” agenda for pensions has come into force. It is therefore timely that the potential market responses to help people pay for their care within the new pensions environment should be considered. In this paper, we analyse whether the proposed reforms meet the policy intention of protecting people from catastrophic care costs, whilst facilitating individual understanding of their potential care funding requirements. In particular, we review a number of financial products and ascertain the extent to which such products might help individuals to fund the LTC costs for which they would be responsible for meeting. We also produce case studies to demonstrate the complexities of the care funding system. Finally, we review the potential impact on incentives for individuals to save for care costs under the proposed new means testing thresholds and compare these with the current thresholds. We conclude that:∙Although it is still too early to understand exactly how individuals will respond to the pensions freedom and choice agenda, there are a number of financial products that might complement the new flexibilities and help people make provision for care costs.∙The new care funding system is complex making it difficult for people to understand their potential care costs.∙The current means testing system causes a disincentive to save. The new means testing thresholds provide a greater level of reward for savers than the existing thresholds and therefore may increase the level of saving for care; however, the new thresholds could still act as a barrier since disincentives still exist.

Was sind Schwachstellen und Alternativen finanzieller Bildung?

2021 ◽  
Vol 90 (1) ◽  
pp. 107-124
Author(s):  
Andreas Oehler ◽  
Matthias Horn
Keyword(s):  
Financial Literacy ◽  
Consumer Information ◽  
Quality Information ◽  
High Quality ◽  
Critical View ◽  
Financial Products ◽  
Private Households ◽  
Life Long Learning ◽  
Rules Of Thumb ◽  
High Quality Information

Zusammenfassung: Der Beitrag analysiert sowohl Schwachstellen als auch darauf aufbauend Handlungsempfehlungen und Lösungsvorschläge im Bereich der finanziellen Bildung von privaten Haushalten. Die Analyse der Schwachstellen umfasst eine kritische Sicht auf die Methodik zur Einschätzung finanzieller Bildung, die Beurteilung der finanziellen Bildung insbesondere junger Erwachsener, den Maßnahmenkatalog zur Verbesserung finanzieller Bildung und die Verbraucherinformationen, die sowohl als Voraussetzung für die Anwendung finanzieller Bildung als auch als Grundlage für eine Verbesserung der finanziellen Bildung im Kontext eines lebenslangen Lernens eine zentrale Rolle einnehmen. Zentrale Lösungsvorschläge zielen auf eine praxisnahe Meta-Bildung, die auf ein ökonomisches Grundverständnis, wenige Faustregeln und die relevantesten finanziellen Entscheidungen im Lebenszyklus ausgelegt ist, und ein gesetzlich vorgeschriebener Zugang zu relevanten und hochwertigen Informationen, um die Vergleichbarkeit von Produkten und Dienstleistungen im Bereich der Verbraucherfinanzen für private Haushalte und Informationslotsen deutlich zu verbessern und ein lebenslanges, praxisnahes Lernen zu ermöglichen. Summary: This article analyses weaknesses in the field of private households’ financial literacy and – building upon this – provides recommendations and solutions. The analysis of the weaknesses covers a critical view on the methodology used to measure financial literacy, the assessment of the financial literacy of young adults, the package of measures for the enhancement of financial literacy and consumer information, which play a central role as precondition for the application of financial literacy and as basis for the enhancement of financial literacy through life-long learning. Main recommendations and solutions are to establish a meta-literacy that is built on understanding basic economic principles, few rules of thumb, and the most relevant decisions in the life cycle. Moreover, a statutory access for households to relevant and high-quality information to significantly enhance the comparability of financial products and services for consumers and to enable a life-long learning in step with actual practice.

Struggling to make ends meet: can consumer financial behaviors improve?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Lisa K. Meneau ◽  
Janakiraman Moorthy
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Group Analysis ◽  
Self Control ◽  
Thinking Styles ◽  
Financial Health ◽  
Content Type ◽  
Financial Behaviors ◽  
Financial Products ◽  
The Impact

PurposeThe purpose of the study is to examine the following two research objectives. The first was to examine the predictive relationships that consumer characteristics of financial literacy, thinking styles and self-control have with a consumer's financial behaviors. The second goal was to ascertain financial management products' ability to aid those consumers who need it the most by weakening the predictive effects of consumer traits on financial behaviors.Design/methodology/approachThe study employed a web-based survey to gather information. The measurement and structural models were analyzed using generalized structured component analysis (GSCA), a component-based structural equation model. The mediation effect of self-control is assessed using the GSCA. The conditional mediation of demographic variables and use of personal financial management products are evaluated using multi-group analysis (MGA) in GSCA.FindingsAntecedents, financial literacy, thinking styles and self-control consumer characteristics are predictors of financial behaviors. However, self-control plays a more prominent role as a mediator between the other variables, strengthening the overall relationship. Also, financial products can have a beneficial moderation effect assisting those consumers who need them the most.Practical implicationsThese insights help in creating target specific financial literacy strategies to influence consumers' financial behaviors. Also, there is a need to develop mechanisms to influence a consumer's self-control and thinking styles to improve financial behavior. In conjunction with other initiatives, the impact of financial literacy has a greater effect on financial behaviors. Further, the insights assist financial institutions and financial technology firms in offering and creating products to help customers make better financial decisions and improve their financial behaviors.Social implicationsThe research addressed a significant global issue – consumer financial health. The Great Recession and the COVID-19 recession highlight the need to focus on the consumer and efforts to improve their financial health.Originality/valueThis research highlighted the mediating role of self-control and suggested that existing and future financial products can positively influence consumer behavior drivers.

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