scholarly journals Participation of Citizens in Public Financial Decision-Making in Serbia

2021 ◽  
pp. 209-229 ◽  
Author(s):  
Mirela Trtovac Šabović ◽  
Milos Milosavljevic ◽  
Sladjana Benkovic
Keyword(s):  
Public Finance ◽  
Decision Making ◽  
Principal Component ◽  
Decision Making Process ◽  
Political Will ◽  
Local Public Finance ◽  
Financial Decision Making ◽  
Financial Decision ◽  
Main Factors ◽  
Main Components

Participation in the local public finance decision-making process in Serbia is not a new concept as it was implemented even during the ‘Titoistic’ period. However, direct participation is still in an infant phase altogether with the low interest of citizens in participating in local financial decision-making procedures. The aim of this paper is to explain the main types of civic participation in the local financial decision-making process (i.e., referendum voting on self-imposed contribution, participatory budgeting, and civic crowdfunding) and to focus on the main factors that lead to a low participation of citizens in such processes. Additionally, the article analyses how these factors affect general mistrust in politics and society. For this purpose, a total of N=421 citizens were interviewed. Using the principal component analysis, the following three main components for low participation were defined: 1) lack of knowledge, 2) lack of interest, and 3) lack of political will. Thereafter, using the regression analysis, the study confirmed that the first two components are statistically significant predictors for mistrust in politics and society.

Modelling the Effects of Financial Services Advertising on Financial Product Purchase: An Empirical Validation

2019 ◽  
Vol 23 (4) ◽  
pp. 418-431
Author(s):  
Pallavi Dogra ◽  
Rishi Raj Sharma
Keyword(s):  
Decision Making ◽  
Factor Analysis ◽  
Financial Literacy ◽  
Financial Services ◽  
Service Providers ◽  
Decision Making Process ◽  
Celebrity Endorsement ◽  
Financial Decision Making ◽  
Perceived Reality ◽  
Financial Decision

The main aim of the study is to find the effect of the financial advertisement on the respondent’s information selection, processing and analysing it while making the financial purchase decisions. The study identified the important factors that affect the investment decision-making process and explored them by using the exploratory factor analysis. The conceptual model has been tested using the AMOS SEM software. The factor analysis identified the four important factors that are affecting the financial decision-making, that is, financial literacy, celebrity endorsement, perceived reality and entertainment. The hypothesis testing reveals that advertisement, perceived reality and entertainment are affecting the information processing and financial decision-making process, whereas financial literacy and celebrity endorsement do not have significant effects on the financial product purchase. The results are useful for the advertisers, policy makers and the financial service providers so as to increase the sale of financial products by focusing on the variables extracted by the research.

scholarly journals Assessing the Importance of Health in Choosing a Restaurant: An Empirical Study from Romania

2019 ◽  
Vol 16 (12) ◽  
pp. 2224 ◽  
Author(s):  
Gabriela O. Chiciudean ◽  
Rezhen Harun ◽  
Iulia C. Muresan ◽  
Felix H. Arion ◽  
Daniel I. Chiciudean ◽  
...  
Keyword(s):  
Decision Making ◽  
Principal Component ◽  
Hierarchical Cluster ◽  
Decision Making Process ◽  
Contact Method ◽  
Face To Face ◽  
Starting Point ◽  
Restaurant Managers ◽  
Managerial Implications ◽  
Main Factors

In the context of a spectacular growth of the Romanian restaurant market, it has become a necessity for managers to analyze the decision-making process related to restaurant selection toward obtaining a competitive advantage, which can be achieved through better segmentation and adequate targeting. The main objectives involved the identification of the main factors that influence restaurant selection by evaluating the role that health concerns play in this process and identifying consumers’ restaurant profiles. A survey was conducted using face-to-face interviews as the contact method, in order to identify the main factors considered important for consumers in the city of Cluj-Napoca in the decision-making process related to restaurant selection. Principal component analysis (PCA) was conducted to group the attributes. The non-hierarchical cluster analysis through the use of the k-means method was used to define different groups within the sample and identify common features. Results suggest that the analyzed restaurant market is dominated by three segments of consumers, of which the largest is represented by “health seekers”: a group of young women with medium and low incomes. As such, the possibility of consuming healthy meals within a restaurant is the most important factor for them during the decision-making process for restaurant selection. The present study has important managerial implications. Restaurant managers should admit that this process represents the starting point in designing restaurant concepts, as this type of information is fundamental for management decisions. On the other hand, the study offers important information regarding consumer perception of food, which has recently changed significantly, especially in the segment of young consumers to whom health is very important.

scholarly journals The ‘Trio Presidency’ of the Council of the European Union: Towards More Continuity?

2015 ◽  
Vol 5 (1) ◽  
pp. 19-35 ◽  
Author(s):  
Ele Raik
Keyword(s):  
Decision Making ◽  
Decision Making Process ◽  
The European Union ◽  
Political Will ◽  
Formal Tool ◽  
Main Factors ◽  
Council Presidency ◽  
Positive Effect ◽  
Over Time

AbstractThis article addresses the Council presidency trio mechanism codified in the Lisbon Treaty with a particular focus on the continuity question in the Council's decision-making framework. The aim of the article is to explore the effect of the formalised trio programme on continuity in the Council's decision-making process. To this end, the article looks at how the trio mechanism has evolved over time and how it functions in practice.While some analysts have been sceptical about the usefulness of the trio programme, these findings demonstrate that the launch of this institutional tool has improved the continuity in the Council's decision-making process. The positive effect on continuity results from three main factors-the trio programme as a formal tool in the Council's institutional tool-kit; the existence of political will among the presidencies to cooperate; and, lastly, the guiding role of the Council Secretariat. The article presents evidence gathered by tracing the preparations of joint trio programmes from 2007 to 2012.

scholarly journals Behavioural Aspects of Financial Decision-Making Process of Managers in Wood-Processing Enterprises

2021 ◽  
Vol 72 (4) ◽  
pp. 389-401
Author(s):  
Mariana Sedliačiková ◽  
Martina Kánová ◽  
Josef Drábek
Keyword(s):  
Decision Making ◽  
Business Environment ◽  
Primary Data ◽  
Decision Making Process ◽  
Financial Decision Making ◽  
Empirical Survey ◽  
Wood Processing ◽  
Financial Decision ◽  
Behavioural Factors ◽  
Behavioural Aspects

The study is focused on behavioural aspects in the financial decision-making process of wood-processing enterprises. The main aim was to map this topic and determine the key behavioural factors that lead management to make mistakes. Primary data on this issue were obtained from an empirical survey. The empirical survey was conducted through a questionnaire that contains questions focused on behavioural decision-making aspects. Using statistical methods, three key behavioural factors were determined. By selecting the given behavioural factors, it was established that love, hate, and sadness are the key factors that influence management behaviour and decision-making. In the real business environment, two managers working in a wood processing enterprise were chosen; they were willing to provide us with a review and opinion on the results of the survey. By analysing all the data, it has been concluded that, even though managers are trying to direct their behaviour and activities, they often do not notice the influence of these factors, and sometimes they are unable to make decisions. The managers should be able to direct their behaviour and activities, to provide self-control and take into consideration the fact that these factors are always present. Results determine the key and systematically occurring errors in the financial decision-making process, caused by the influence of the human factor. We have developed a model for activating the three key behavioural factors applied in the financial decision-making process as a tool that can help company managers not to make the wrong decisions.

The Role of Financial Inclusion

2020 ◽  
pp. 248-279
Author(s):  
Ulkem Basdas
Keyword(s):  
Decision Making ◽  
Financial Literacy ◽  
Financial Education ◽  
Financial Inclusion ◽  
Decision Making Process ◽  
Standard Definition ◽  
Financial Decision Making ◽  
Financial Decision ◽  
Different Levels

This chapter highlights the importance of financial education, its link with financial decision-making process, comparative status of different countries, and efforts to improve current situation. Unfortunately, there is no standard definition for neither financial education nor measures to quantify it. Therefore, this chapter first aims to provide a comprehensive definition in order to explain how financial knowledge affects the decision-making process. Then, financial literacy measures from previous studies over different countries would be discussed to show financial illiteracy problem is global. Lastly, solutions and recommendations would be discussed at three different levels: younger people, individuals, and national strategies.

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