scholarly journals Drivers of Savings Account Ownership Status: A Cross-Sectional Analysis from Ghana

2019 ◽  
Vol 10 (1(S)) ◽  
pp. 51-60
Author(s):  
Augustine Kwadwo Yeboah
Keyword(s):  
Financial Services ◽  
Investment Decision ◽  
Financial Education ◽  
Small Scale ◽  
Probit Regression ◽  
Multiple Sources ◽  
Cross Sectional ◽  
National Board ◽  
Major Market ◽  
Ownership Status

In view of the evidence that poor savings can inhibit investment decision by borrowers of surplus funds, and that countries with well-established and efficiently utilised financial services have considerably less poverty, the study examines factors influence saving account ownership in Ghana using econometric approach. We used empirical evidence with data sourced from informal market traders in selected major market centres in Ghana. Using probit regression analysis, the results suggest that financial educations, number of income-generating ventures engaged in by the market trader are major predictors of savings account ownership status. Other predictors include demographic characteristics such as gender, age, marital status and number of dependents. It is, therefore, recommended that banks and financial institutions should intensify financial education strategies to boost savings mobilization. Government’s policy intervention should be directed towards informal sector enterprise development to the crowd in revenue in order to motivate decisions to save. Also, the National Board for Small Scale and informal Businesses in Ghana should intensify education on how to sustain diverse income generation ventures to fetch income from multiple sources in order to encourage behavioural intentions to save.

Determinants of older consumers’ interest in home equity conversion products

2019 ◽  
Vol 37 (5) ◽  
pp. 1275-1295 ◽  
Author(s):  
Simona Cosma ◽  
Stefano Cosma ◽  
Alessandro M. Peluso
Keyword(s):  
Locus Of Control ◽  
Financial Services ◽  
Design Methodology ◽  
Banking Sector ◽  
Financial Education ◽  
Probit Regression ◽  
Home Equity ◽  
Content Type ◽  
Internal Locus Of Control ◽  
Credit Culture

Purpose The purpose of this paper is to highlight opportunities for the banking sector arising from the population’s aging and the expected reduction in pension incomes. Home equity conversion (HEC) instruments are a potentially useful way of restoring households’ finances and satisfying their needs, with implications for the demand for financial services. Design/methodology/approach By using an ordered probit regression model, the paper analyzes data obtained from a survey of 2,000 Italian households. Findings The main finding of this paper is that individuals with greater familiarity with consumer credit, a cognitive and decision-making approach favorable to use of credit, and an internal locus of control show greater interest in various forms of equity conversion. Originality/value This paper extends the analysis of the determinants of individuals’ interest in HEC products. It focuses more closely than the existing literature on households’ credit behaviors, attitudes toward credit and locus of control. The paper helps identify the potential targets of marketing campaigns and commercial proposals, and highlights the levers that the banks can focus on in communicating with customers and future prospects. Moreover, this paper suggests that there is a need to develop greater awareness on the part of people who could be interested in these products. Therefore, appropriate financial education projects should be implemented to develop a better “credit” culture, with due appreciation of the usefulness of credit as a means of supporting household budgets.

scholarly journals Factors influencing agripreneurs’ investment decision and level in clean seed potato enterprises in the highlands of Kenya

2020 ◽  
Vol 28 (s1) ◽  
pp. 165-174
Author(s):  
R.M. Mutinda ◽  
E.W. Gathungu ◽  
A.M. Kibe ◽  
D.K. Wambua
Keyword(s):  
Seed Potato ◽  
Solanum Tuberosum L ◽  
Investment Decision ◽  
Potato Production ◽  
Small Scale ◽  
Selling Price ◽  
Cross Sectional Survey ◽  
Annual Household Income ◽  
Cross Sectional ◽  
Clean Seed

High quality seed potato (Solanum tuberosum L.) supply has failed to meet the growing demand estimated at 250,000 metric tonnes from 161,000 ha of ware potato for cultivation by 600,000-800,000 small-scale farmers in Kenya. Increased investments by private seed potato multipliers could alleviate the shortage of seed potato by enhancing availability and accessibility to quality seed, and bridging the supply that currently meets less than 5% of the demand. The objective of this study was to investigate factors that influence agripreneurs’ investment decisions and level of investment in clean seed potato enterprise in the highlands of the Rift Valley, Kenya. The study was conducted through a cross-sectional survey of 380 agripreneurs. The Double hurdle (Craggit) model analysis revealed that training, frequency of extension services, family history in seed potato business, years spent in school and selling price, significantly (P<.05) influenced the probability of agripreneurs’ decision to invest in clean seed potato enterprises in the highlands of Kenya. Initial land size put under seed potato production at the commencement of the enterprise, higher annual household income, number of cropping seasons, total land under seed potato and group membership fee also significantly (P <.05) influenced the decision and level of investment in clean seed potato enterprise.

Training vs. informal financial services for the promotion of financial literacy and inclusion in Uganda

2021 ◽  
Vol 32 (1) ◽  
pp. 107-122
Author(s):  
Colin Agabalinda ◽  
William F. Steel
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Financial Training ◽  
Strong Association ◽  
Financial Education ◽  
Sample Survey ◽  
Formal Training ◽  
Service Users ◽  
Cross Sectional ◽  
Complementary Role

Financial education aims to promote financial inclusion by increasing understanding and use of formal financial services. Despite such training, participation in informal financial practices remains high relative to formal ones in countries like Uganda. A cross-sectional sample survey of economically active urban financial service users is used to test whether financial education through formal training is associated with financial literacy (FL) and FL is associated with increased use of financial services, especially formal ones. The findings indicate that formal financial training is significantly associated with FL, and that higher FL is associated with higher use of both formal and informal financial services. The unexpectedly strong association of the use of informal financial services with financial literacy suggests that informal financial services may have a more complementary role than a simple model of financial formalization would imply. The study suggests that promoting informal financial services may be more efficient in raising financial literacy and inclusion than financial training.

Financial inclusion and land ownership status of women

2019 ◽  
Vol 18 (1) ◽  
pp. 51-69 ◽  
Author(s):  
Senthil Arasu Balasubramanian ◽  
Thenmozhi Kuppusamy ◽  
Thamaraiselvan Natarajan
Keyword(s):  
Financial Services ◽  
Developing Economies ◽  
Wealth Quintile ◽  
Analysis Data ◽  
Land Ownership ◽  
Limited Information ◽  
Cross Sectional ◽  
Content Type ◽  
Ownership Status ◽  
Entrepreneurial Activities

PurposeThe purpose of this paper is to empirically examine the influence of women’s land ownership status on their inclusion in developing economies.Design/methodology/approachThe study adopted a cross-sectional analysis. Data were taken from Global Findex data of World Bank and Indices of social development. Data were analysed using limited information maximum likelihood to establish the relationship between usage of basic financial services and women’s land ownership status variables. The study considers different demographic, social and economic factors as control variables. Socio-economic gender equality index and land ownership status of men are considered as instrumental variables in the estimations for controlling endogeneity problem.FindingsThe study proves that there is a significant influence of women’s land ownership status on their demand and usage of basic financial services. The results show that women who own land alone have a significant relationship for formal account ownership and formal savings but are deprived of formal and informal credit. The results find that women are more likely to avail of formal credit when they are backed by someone else in the family especially men. Irrespective of the wealth quintile to which women belong, they are deprived of credit if they do not own any land. The findings also show that women in higher wealth quintiles are more active in availing credit.Research limitations/implicationsThe study is limited to the extent of influence of women’s land ownership status on their demand for basic financial services.Practical implicationsThe study recommends appropriate economic and financial policies to encourage women to own, possess and use their land for personal as well as entrepreneurial activities. The study also suggests for policies to encourage women for joint ownership of land for better credit availability.Social implicationsFormal institutions must be more favourable for women in providing credit facilities because women play an essential role in economic development in developing economies.Originality/valueThis study is the first of its type in providing empirical evidence that women’s land ownership status influences their demand for basic financial services in developing countries.

scholarly journals Influence of Culture on Investment Decisions: A Cross-Sectional Study of Ghanaian Population

2020 ◽  
Vol 11 (6(J)) ◽  
pp. 38-51
Author(s):  
Adu Bonna ◽  
Robert Awobgo-Moah Amoah
Keyword(s):  
Cultural Values ◽  
Financial Literacy ◽  
Cultural Awareness ◽  
Investment Decision ◽  
Belief Systems ◽  
Investment Decisions ◽  
Financial Education ◽  
Cultural Dimensions ◽  
Rational Analysis ◽  
Cross Sectional

Abstract: This study seeks to explore the influence of culture on the investment decisions of Ghanaians. It is motivated by the perception that Ghanaians show no enthusiasm for long-term investments or life insurance products. To explore this problem, we used a random sampling, quantitative cross-sectional technique to administer a set of questionnaires to a cross-section of 120 Ghanaians residing in the City of Columbus, Ohio, U.S.A. Hofstede’s five cultural dimensions were used as the theoretical framework to guide the study. The results showed that Ghanaians prefer short-duration risk-free investments to long-duration risky investments. Ghanaian investors are not aggressive in gathering and analyzing financial information before making investment decisions. Their investment decisions are influenced by others, intuition, comfort and security, and their belief systems, rather than rational analysis of information, and risk-reward relationships derived from financial models. The use of intuition and information passed on from relatives, family members and others in making investment decisions paves the way for cultural factors to influence investment decisions. We conclude that cultural values have significant influence on the investment decisions of Ghanaians. The study seeks to motivate investors to examine and broaden their cultural awareness to enable them to develop financial plans to achieve their investment goals. We recommend that to overcome negative cultural influence on investment decision making, financial education should be vigorously pursued to broaden financial literacy.

A Study on Investment Decision of Investors With Reference to Penetration of Mutual Funds in India

2016 ◽  
Vol 5 (2) ◽  
Author(s):  
Ratish C Gupta ◽  
Dr. Manish Mittal
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Mutual Funds ◽  
Capital Markets ◽  
Mutual Fund ◽  
Financial Services ◽  
Investment Decision ◽  
Fund Industry ◽  
Mutual Fund Industry ◽  
The Impact

The Indian mutual fund industry is one of the fastest growing and most competitive segments of the financial sector. The extent of under-penetration in the market is a sore point with the financial services industry, with a large amount of savings being channelized into fixed deposits, gold and real estate rather than the capital markets. The mutual fund industry is yet to spread its reach beyond Tier I cities. The top fifteen cities contribute to 85% of the pie, with the remaining 15% distributed among other cities. The study seeks to determine the impact of decision making of investors on current situation of mutual fund industry.

Social media engagement, service complexity, and experiential quality in US hospitals

2020 ◽  
Vol 34 (6) ◽  
pp. 833-845 ◽  
Author(s):  
Youngsu Lee ◽  
Joonhwan In ◽  
Seung Jun Lee
Keyword(s):  
Social Media ◽  
Demographic Data ◽  
Positive Association ◽  
Customer Engagement ◽  
Service Firms ◽  
Multiple Sources ◽  
Cross Sectional ◽  
Content Type ◽  
Social Media Engagement ◽  
Experiential Quality

Purpose As social media platforms become increasingly popular among service firms, many US hospitals have been using social media as a means to improve their patients’ experiences. However, little research has explored the implications of social media use within a hospital context. The purpose of this paper is to investigate a hospital’s customer engagement through social media and its association with customers’ experiential quality. Also, this study examines the role of a hospital’s service characteristics, which could shape the nature of the interactions between patients and the hospital. Design/methodology/approach Data from 669 hospitals with complete experiential quality and demographic data were collected from multiple sources of secondary data, including the rankings of social media friendly hospitals, the Hospital Compare database, the Center for Medicare and Medicaid (CMS) cost report, the CMS impact file, the Healthcare Information and Management Systems Society Analytics database and the Dartmouth Atlas of Health Care. Specifically, the authors designed the instrumental variable estimate to address the endogeneity issue. Findings The empirical results suggest a positive association between a hospital’s social media engagement and experiential quality. For hospitals with a high level of service sophistication, the association between online engagement and experiential quality becomes more salient. For hospitals offering various services, offline engagement is a critical predictor of experiential quality. Research limitations/implications A hospital with more complex services should make efforts to engage customers through social media for better patient experiences. The sample is selected from databases in the US, and the databases are cross-sectional in nature. Practical implications Not all hospitals may be better off improving the patient experience by engaging customers through social media. Therefore, practitioners should exercise caution in applying the study’s results to other contexts and in making causal inferences. Originality/value The current study delineates customer engagement through social media into online and offline customer engagement. This study is based on the theory of customer engagement and reflects the development of mobile technology. Moreover, this research may be considered as pioneering in that it considers the key characteristics of a hospital’s service operations (i.e., service complexity) when discovering the link between customers’ engagement through a hospital’s social media and experiential quality.

scholarly journals The Impact of Climate Change Adaptation Strategies on Income and Food Security: Empirical Evidence from Small-Scale Fishers in Indonesia

2021 ◽  
Vol 13 (14) ◽  
pp. 7905
Author(s):  
Moh. Shadiqur Rahman ◽  
Hery Toiba ◽  
Wen-Chi Huang
Keyword(s):  
Climate Change ◽  
Food Security ◽  
Climate Change Adaptation ◽  
Substantial Effect ◽  
Adaptation Strategies ◽  
Small Scale ◽  
Probit Regression ◽  
The Government ◽  
The Impact ◽  
Climate Change Adaptation Strategies

The impacts of climate change on marine capture fisheries have been observed in several studies. It is likely to have a substantial effect on fishers’ income and food security. This study aims to estimate the impact of adaptation strategies on fishers’ income and their household’s food security. Data were collected from small-scale fishers’ households, which own a fishing boat smaller or equal to five gross tonnages (GT). The study sites were the two coastal regions of Malang and Probolinggo in East Java, Indonesia, due to the meager socioeconomic resources caused by climate change. A probit regression model was used to determine the factors influencing the fishers’ adaptation. Propensity score matching (PSM) was applied to evaluate the impact of the adaptation strategies on income and food security. Food security was measured by food consumption score (FCS). The findings indicated that participation in the fishers’ group affected adaptation strategies significantly, and so did the access to credit and climate information. Also, PSM showed that the adaptation strategies had a positive and significant impact on fishers’ income and food security. Those who applied the adaptation strategies had a higher income and FCS than those who did not. This finding implies that the fishery sector’s adaptation strategies can have significant expansion outcome and reduce exposure to risks posed by climate change. Therefore, the arrangement of more climate change adaptation strategies should be promoted by the government for small-scale fishers in Indonesia.

Farmer Producer Company: India’s Magic Bullet to Realise Select SDGs?

2021 ◽  
pp. 097300522199166
Author(s):  
Mamta Mourya ◽  
Madhavi Mehta
Keyword(s):  
Mixed Method ◽  
Financial Services ◽  
Sustainable Development Goals ◽  
Small Scale ◽  
Magic Bullet ◽  
Value Addition ◽  
Professional Management ◽  
Development Goals ◽  
Existing Form ◽  
Method Approach

Sustainable development goals (SDGs) are designed for the betterment of the underprivileged and the marginalised. Some of the sub-goals target doubling agricultural productivity and incomes of the small-scale food producers to realise the SDGs. Access to land, technology, inputs and financial services, opportunities for value addition and markets, non-farm employment and effective and transparent institutions that ensure responsive, inclusive, participatory and representative decision-making at all levels are assumed to be the means to that end. Based on the Alagh Committee report’s recommendations, to address the voids in the existing form of collectives, producer company as a new legal option was introduced in 2003 by amending the Companies Act. This new form of collective is expected to combine efficiency and professional management of the company form and the cooperative principles necessitating ownership and participation of and governance by producers. This study takes a mixed-method approach. It qualitatively inquires about member’s perception of roles farmer producer companies (FPCs) play in their lives and livelihood. With the help of performance data from five FPCs, this study elaborates on the promises this form holds in realising some of the SDGs and challenges FPCs facing that could make achieving these promises a distant dream.

SUBMERGED CITRIC ACID FERMENTATION OF SUGAR BEET MOLASSES: INCREASE IN SCALE

1955 ◽  
Vol 1 (5) ◽  
pp. 299-311 ◽  
Author(s):  
R. Steel ◽  
C. P. Lentz ◽  
S. M. Martin
Keyword(s):  
Citric Acid ◽  
Scale Up ◽  
Aeration Rate ◽  
Small Scale ◽  
Acid Fermentation ◽  
Inoculum Level ◽  
Cross Sectional ◽  
Factors Affecting ◽  
Beet Molasses ◽  
Initial Ph

Factors affecting the production of citric acid in the submerged fermentation of ferrocyanide-treated beet molasses by Aspergillus niger were studied in 2.5 and 36 liter fermenters. The small fermenters were used to determine the effects of changes in sterilization technique, phosphate supplement, ferrocyanide treatment, inoculum level, initial pH, fermentation temperature, and aeration rate. The relation between ferrocyanide concentration and inoculum level was also studied. Four different samples of molasses were fermented successfully. An average yield of 8.2% citric acid (64% conversion) was obtained from 51 small-scale fermentations. Comparable yields were obtained in the large fermenters under comparable conditions. Most of the information obtained with the small fermenters was applicable to the larger-scale fermenters, but in the latter the fermentation was significantly more stable. Aeration was the main problem in the scale-up and aeration rates approximately double those calculated on a fermenter cross-sectional area basis were required for comparable results in the large fermenters.

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