scholarly journals Towards Personal Financial Sustainability Based on Human Capital Analysis in Korea

2021 ◽  
Vol 13 (5) ◽  
pp. 2700
Author(s):  
Jaeyong Yu ◽  
Gunyoung Lee ◽  
Jang Ho Kim
Keyword(s):  
Human Capital ◽  
Asset Allocation ◽  
Financial Planning ◽  
Fixed Effects ◽  
Education Level ◽  
Financial Sustainability ◽  
Panel Survey ◽  
Financial Plan ◽  
Fixed Effects Regression ◽  
Total Wealth

Financial sustainability for individuals has become more important due to the increase in life expectancy. In personalized lifetime financial planning, human capital is critical for incorporating the life-cycle of individuals. This study focuses on human capital modeling based on features such as education level and working industry, and presents how difference in human capital can affect the optimal asset allocation. By analyzing the Korean labor and income panel survey data, fixed effects regression was performed to model human capital and a portfolio model that maximizes utility of total wealth is solved to optimize the lifetime financial plan. The empirical results show that individuals with human capital that are more correlated with stocks are advised to reduce allocation in stocks.

Coresidential Union Entry and Changes in Commuting Times of Women and Men

2016 ◽  
Vol 39 (2) ◽  
pp. 383-405 ◽  
Author(s):  
Philipp M. Lersch ◽  
Sibyl Kleiner
Keyword(s):  
Gender Differences ◽  
Gender Gap ◽  
Fixed Effects ◽  
Labor Income ◽  
British Household Panel Survey ◽  
Panel Survey ◽  
Childless Women ◽  
Market Opportunities ◽  
Commuting Time ◽  
Fixed Effects Regression

Women, particularly those in coresidential unions, have previously been found to spend less time commuting to work than men. This gender gap among couples’ commuting has been linked to inferior labor market opportunities for women. How gender differences in commuting emerge on entering coresidence is underresearched, however. This study examines changes in commuting times at the transition from singlehood to coresidential unions using the British Household Panel Survey (1992-2008; N = 8,122 individuals). Results from fixed effects regression indicate that men increase their commuting time when entering coresidential unions. For childless women, entering coresidential unions is not associated with changes in commuting time. Mothers reduce their commuting time on entering coresidential unions. Changes in labor income and domestic housework responsibilities, previously suggested as likely explanations, are not found to contribute to observed changes in commuting among those entering coresidential unions in this study.

scholarly journals To Share or Not to Share? How Emotional Judgments Drive Online Political Expression in High-Risk Contexts

2020 ◽  
pp. 009365022095057
Author(s):  
Aysenur Dal ◽  
Erik C. Nisbet
Keyword(s):  
Risk Assessment ◽  
Decision Making ◽  
Fixed Effects ◽  
Panel Survey ◽  
Political Expression ◽  
Psychological Mechanisms ◽  
Cognitive Components ◽  
Internet Users ◽  
Fixed Effects Regression ◽  
Previous Scholarship

Previous scholarship on networked authoritarianism has examined an array of repressive legal and political strategies employed by regimes to constrain online political expression. How the tension between citizens’ desires to engage in online political expression and the possible dire consequences of doing so is resolved, however, is understudied. We address this lacuna by drawing upon concepts from risk and decision-making research and examining how the emotional and cognitive components of risk and decision-making shape citizens’ online political expression. Employing a three-wave panel survey of Turkish internet users collected over 8 months, our fixed-effects regression analyzes show that anticipatory emotions drive expressive behavior, but that risk assessment does not. Furthermore, the influence of negative emotions on online expression is moderated by individuals’ degree of regime opposition. We discuss the importance of understanding the psychological mechanisms by which networked authoritarian contexts influences citizens’ decisions to engage in contentious online speech.

scholarly journals Exploratory Study of Comparison Income and Individual Debt Using British Household Panel Survey

2018 ◽  
Vol 10 (2) ◽  
pp. 181-202
Author(s):  
Ourega-Zoe Ejebu
Keyword(s):  
Fixed Effects ◽  
Demographic Variables ◽  
Panel Survey ◽  
Tobit Regression ◽  
Mortgage Debt ◽  
Comparison Income ◽  
Fixed Effects Regression ◽  
The Relationship ◽  
Section Analysis

The famous saying “keeping up with the Joneses” is a generational behaviour that is still deeply interwoven in the behavioural fabric of our modern-day society. This paper aims to address and contribute to the existing literature by investigating the determinants of individual non-mortgage debt, focusing on the role of comparison income. It also seeks to overcome certain empirical shortcomings by applying Tobit, fixed effects, and Tobit fixed effects regression models to a UK dataset. The study is motivated by previous research, which suggested the aspiration of borrowers is influential in the debt-decision process. Previous studies did not use empirical methods or UK data, however. Comparison income (the measure of the borrowers’ aspiration) is derived from the Mincer earnings equation. Tobit regression is applied in the cross-section analysis and is pertinent considering the censored nature of the dependent variable. In the panel analysis, fixed effects and Tobit fixed effects are used to control for unobserved attributes of sampled individuals that may affect demand for debt. Comparison income and non-mortgage debt as well as other economic and demographic variables are positively and significantly associated. The relationship between comparison income and non-mortgage debt suggests the latter may be incurred for status-maintenance purposes.

Human Capital, Asset Allocation, and Life Insurance

CFA Digest ◽  
2006 ◽  
Vol 36 (2) ◽  
pp. 93-94
Author(s):  
Peng Chen ◽  
Roger G. Ibbotson ◽  
Moshe A. Milevsky ◽  
Kevin X. Zhu
Keyword(s):  
Human Capital ◽  
Life Insurance ◽  
Asset Allocation ◽  
Capital Asset

An Analytical Study On Financial Planning And Strategy Formulation

2019 ◽  
Vol 118 (9) ◽  
pp. 28-34
Author(s):  
Dr P. Govindasamy ◽  
Dr.H. Premraj
Keyword(s):  
Financial Planning ◽  
Product Line ◽  
Financial Forecasting ◽  
Strategy Formulation ◽  
Wealth Maximization ◽  
Corporate Growth ◽  
Financial Plan ◽  
New Business ◽  
Future Income ◽  
A Company

Financial Planning and Forecasting is the estimation of value of a variable or set of variables at some future point. A Financial forecasting exercise is usually carried out in order to provide an aid to decision – making and planning of any line of business for future developments. This paper focuses insurance segments and tailored all the key areas of attention are such as assets, liabilities, marketing, human resources, expenditures, digitalization and technology inclusion, etc., all in one term called as wealth maximization. Financial planning and forecasting represents a blueprint of what a firm proposes to do in the future. So, naturally planning over such horizon tends to be fairly in aggregative terms. We need to focus on common elements which include economic assumptions, target forecast, proforma statements, asset requirements and the mode of financing the investments and so on. A financial plan can also be an investment plan, which allocates savings to various assets or projects expected to produce future income, such as a new business or product line, shares in an existing business. Financial forecast and financial plan can also refer to an annual projection of income and expenses for a company, division or department. This can also be an estimation of cash needs and a decision on how to raise the funds, such as through borrowing or issuing additional shares in a company. Forecasting is also used by outsiders to value companies and their securities. This is the aggregative perspective of the whole firm, rather than looking at individual projects. Growth is a key theme behind financial forecasting, so growth should not be the underlying goal of corporation – creating shareholder value is enabled through corporate growth.

Trade Unions and the Welfare of Rural-Urban Migrant Workers in China

ILR Review ◽  
2021 ◽  
pp. 001979392110044
Author(s):  
Alison Booth ◽  
Richard Freeman ◽  
Xin Meng ◽  
Jilu Zhang
Keyword(s):  
Mental Health ◽  
Trade Union ◽  
Migrant Workers ◽  
Trade Unions ◽  
Fixed Effects ◽  
Mental Health Problems ◽  
Panel Survey ◽  
Monthly Income ◽  
Work Related ◽  
Urban Migrant

Using a panel survey, the authors investigate how the welfare of rural-urban migrant workers in China is affected by trade union presence at the workplace. Controlling for individual fixed effects, they find the following. Relative to workers from workplaces without union presence or with inactive unions, both union-covered non-members and union members in workplaces with active unions earn higher monthly income, are more likely to have a written contract, be covered by social insurances, receive fringe benefits, express work-related grievances through official channels, feel more satisfied with their lives, and are less likely to have mental health problems.

Linked in Life and Death: A Note on the Effect of Parental Death on Sibling Relations in Young and Middle Adulthood

2021 ◽  
pp. 0192513X2098556
Author(s):  
Karsten Hank
Keyword(s):  
Family Relationships ◽  
Fixed Effects ◽  
Family System ◽  
Parental Death ◽  
Spillover Effects ◽  
Three Dimensions ◽  
Life And Death ◽  
Sibling Relations ◽  
Fixed Effects Regression ◽  
Parent Child

Despite the important role of adult parent–child and sibling relations in the family system, only few studies have investigated yet, how the common adult experience of parental death impacts sibling relations. Estimating fixed-effects regression models using four waves of data from the German Family Panel (pairfam; n = 4,123 respondents), the present note focused on changes in three dimensions of adult siblings’ relationship qualities following the first parent’s death. Our analysis revealed a short-term positive effect of parental death on sibling contacts as well as longer-lasting increases in emotional closeness and conflicts. Next to an intensification of sibling relations following the first parent’s death, we also detected significant spillover effects from respondents’ relationship with the surviving parent to their sibling relations. Our analysis thus provided evidence for adult parent–child and sibling relations to be “linked in life and death,” underlining the benefits of jointly analyzing intra- and intergenerational family relationships.

The Importance of Oversight and Agency Capacity in Enhancing Performance in Public Service Delivery

2020 ◽  
Author(s):  
Cody A Drolc ◽  
Lael R Keiser
Keyword(s):  
Service Delivery ◽  
Performance Management ◽  
Fixed Effects ◽  
Poor Performance ◽  
Central Component ◽  
State Agencies ◽  
Public Programs ◽  
And Performance ◽  
Fixed Effects Regression ◽  
Social Security Disability

Abstract Government agencies often encounter problems in service delivery when implementing public programs. This undermines effectiveness and raise questions about accountability. A central component of responsiveness and performance management is that agencies correct course when problems are identified. However, public agencies have an uneven record in responding to problems. In this paper we investigate whether, and to what extent, capacity both within the agency and within institutions performing oversight, improves agency responsiveness to poor performance indicators. Using panel data on eligibility determinations in the Social Security Disability program from U.S. state agencies from 1991-2015 and fixed effects regression, we find that indicators of agency and oversight capacity moderate the relationship between poor performance and improvement. Our results suggest that investments in building capacity not only within agencies, but also within elected institutions, are important for successful policy implementation. However, we find evidence that while agency capacity alone can improve responsiveness to poor performance, the effect of oversight capacity on improving performance requires high agency capacity.

Board demographic diversity, firm performance and strategic change

2014 ◽  
Vol 37 (12) ◽  
pp. 1110-1136 ◽  
Author(s):  
Daniel Kipkirong Tarus ◽  
Federico Aime
Keyword(s):  
Firm Performance ◽  
Fixed Effects ◽  
Strategic Change ◽  
Secondary Data ◽  
Developed Countries ◽  
Outcome Variable ◽  
Demographic Diversity ◽  
Content Type ◽  
Fixed Effects Regression ◽  
High Level

Purpose – The purpose of this study is to examine the effect of boards’ demographic diversity on firms’ strategic change and the interaction effect of firm performance. Design/methodology/approach – This paper used secondary data derived from publicly listed firms in Kenya during 2002-2010 and analyzed the data using fixed effects regression model to test the effect of board demographic and strategic change, while moderated regression analysis was used to test the moderating effect of firm performance. Findings – The results partially supported board demographic diversity–strategic change hypothesis. In particular, results indicate that age diversity produces less strategic change, while functional diversity is associated with greater levels of strategic change. The moderated regression results do not support our general logic that high firm performance enhances board demographic diversity–strategic change relationship. In effect, the results reveal that at high level of firm performance, board demographic diversity produces less strategic change. Originality/value – Despite few studies that have examined board demographic diversity and firm performance, this paper introduces strategic change as an outcome variable. This paper also explores the moderating role of firm performance in board demographic diversity–strategic change relationship, and finally, the study uses Kenyan dataset which in itself is unique because most governance and strategy research uses data from developed countries.

The financial consequences of human capital disclosure as part of integrated reporting

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Antonio Salvi ◽  
Nicola Raimo ◽  
Felice Petruzzella ◽  
Filippo Vitolla
Keyword(s):  
Human Capital ◽  
Firm Value ◽  
Fixed Effects ◽  
Cost Of Capital ◽  
Positive Impact ◽  
Firm Risk ◽  
Integrated Reporting ◽  
Content Type ◽  
Financial Consequences ◽  
The Cost

PurposeThe purpose of this paper is to analyse the financial consequences of the level of human capital (HC) information disclosed by firms through integrated reports. Specifically, this work examines the effect of HC information on the cost of capital and firm value.Design/methodology/approachA manual content analysis is used to measure the level of HC information contained in integrated reports. A fixed-effects regression model is used to analyse 375 observations (a balanced panel of 125 firms for the period 2017–2019) and test the financial consequences of HC disclosure.FindingsThe empirical outcomes indicate that HC disclosure has a significant and negative effect on the cost of capital and a positive impact on firm value. Our results show that companies can reduce investors' perceived firm risk by improving HC disclosure, leading to a lower cost of capital. Moreover, our findings support the notion that increased levels of HC disclosure are linked to firms' improved access to external financial resources, consequently enhancing firm value.Originality/valueThis study is the first contribution to examine the financial consequences of HC disclosure and is one of the first to examine the level of HC information within integrated reports.

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