Institutes of Financial Socialization of Russian Students

The paper examines the factors influencing the financial socialization of Russian students. It provides an overview of research on the impact of family institutions (parental household), financial independence, and the maturity of financial behavior on the financial socialization of young people. We analyze the relationships between basic socio-demographic characteristics of Russian students (gender, age, marital status), their behavioral characteristics (risk preference, propensity for offense or unethical behavior, prodigality, credulity), and socio-economic characteristics (level of financial status, financial independence, financial maturity). The empirical part of the study is based on the data of the author's survey of 1291 students from 17 Russian universities, processed by methods of statistical, correlation, and econometric analysis. To assess the level of financial well-being, we develop an original methodology where the financial situation shows the availability of goods and services that are unaffordable to most members of this group. Likewise, financial maturity is the students' proficiency in financial instruments poorly mastered by the majority of other respondents. The survey revealed a significant financial dependence of Russian students on their parents and their low level of financial maturity. We found an increased level of credulity and a low level of propensity for offense or unethical behavior; established positive correlation between the risk preference and the propensity for offense or unethical behavior, between the level of credulity and prodigality. We established that as financial dependence on parents gradually decreases, young people make more mature financial decisions, and their growing risk preference is replaced by a shift to more prudent financial practices. In groups where young people provide for themselves, their assessments of their financial situation rise sharply from a certain point, and the level of prodigality decreases. The constructed model of ordered logit regression showed a significant positive effect of age, marital and employment status, risk preference and level of financial maturity, as well as a significant negative effect of prodigality and credulity on financial independence of Russian students. The research results are applicable for the further development of theoretical and methodological approaches to the study of effective financial behavior of young people and the management of student financial socialization processes.

Impact of the tax system of Ukraine on the functioning of local finance

The functioning of the tax system of Ukraine is carried out simultaneously at two levels – state and local. It is on the second that taxes are regarded as a powerful and stable source of financial resources for the local finance system. However, a significant drawback is that the proceeds of funds are carried out mainly from the functioning of the folding national taxes. Such distribution of taxes does not contribute to strengthening the financial independence of local finances. In the system of local finance in Ukraine, the dominant position is occupied by local budgets. It is in them that resources are concentrated in the form of tax and non-tax revenues, income from capital transactions and intergovernmental transfers. The opposite are expense items, for the financing of which the income is collected. And, as the study showed, in 2019–2021, the available revenues could not cover the costs. As a consequence of the above, during the study period, a high proportion was observed relative to interbudgetary transfers, which confirms the high level of dependence of local finances on the resources of the highest level budgets. At the same time, a study of the coverage of the expenditure side by collected taxes, which go to local budgets, showed a slight, but persistent trend of their growth. In particular, taxes on income, profits and an increase in market value increased 24.8 % of the share – from 31 % in 2019 to 55.8 % in 2021 (10 months), and local taxes – only 9 % (from 12.5 in 2019 to 21.5 % in 2021). At the same time, in 2016–2020, the share of personal income tax increased by 3.4 %, and income tax – decreased by 1.5 %. A significant positive point was that part of the excise tax – on the sale of excisable goods by retail entities – was 100 % attributed to local budgets. But resource taxes and payments have recently shown gravitation in the state budget. The instability of tax revenues complicates the process of budget planning, and also reduces the level of financial independence of local finances, which requires the improvement of the system of its financial support.

THE EVOLUTION OF GENDER EQUALITY INTERNATIONAL LEGAL REGULATION

The article is devoted to theformation of development and legalregulation of the principle of genderequality in international law, whichis referred to the level of values of theEuropean Union (EU), and also playsan important role for Ukraine due tothe context of European integration.Today, the attitude towards women insociety is significantly different fromthe attitude towards men and thisapplies to different spheres of life:social, political, legal. Thus, politicalgender inequality includes less representation of women in electedpositions and lower representationin political and corporate circles.Gender equality means the existenceof a society in which both women andmen have equal opportunities, rightsand responsibilities in all spheres oflife. Equality between women andmen is equal access to education andhealth care, governance and power forboth sexes, their equal opportunitiesfor financial independence, and therealization of their personal andprofessional needs and interests.One of the most significantdevelopments in international law inthe middle of the twentieth centurywas the consolidation of the principleof non-discrimination and the furtherdevelopment of international andregional legal standards aimed atimproving and protecting the rightsof all women and girls. At the sametime, the protection of women andgirls, as well as men and boys, is firstand foremost the responsibility of thestate. International law establishesthe obligation of states to protecttheir own citizens, including againstgender discrimination. Currently,gender equality is gaining priorityin the activities of internationalorganizations.At the present stage of developmentof society, the issues of genderequalities are not the last place interms of relevance. Gender inequalityslows down the development ofsociety. That is why the achievementof gender equality is now becoming acentral indicator of the developmentof each country

Factors Influencing The Financial Independence of Young Adults, and Evidence From Indonesia

Financial independence is a mark of an individual’s maturity. Achieving financial independence for an individual is very important for family life. Society would be better off when most of its members were independent financially. This study investigates whether different groups of young adults based on their age, gender, education, and income significantly differ in their financial independence. Also, this research intends to study demographic factors that influence the financial independence of a society. The research method was quantitative by using a survey with 539 respondents. The result shows that different groups of young adults categorized based on age, gender, education, and income have a significant difference related to financial independence. Age and income are the two most important factors influencing the financial independence of young adults.

THE EFFECT OF REINVENTING POTENTIAL AND FINANCIAL INDEPENDENCE ON THE ENTREPRENEURS CHARACTER OF MILLENNIALS THROUGH SOCIAL MEDIA IN THE ERA MARKETING 4.0

The study presents the results of the impact of reinventing potential and financial independence on the entrepreneur character of millennial generation through social media in the era marketing 4.0. The data were obtained from a survey of 448respondents(student) from fourdepartement of Faculty Economic and Bussiness Malikussaleh University in Indonesia. The following statistical methods were used: descriptive statistics and structural eqution modelling analysis. The study found that reinventing potential, financial independence and social media has a significant effect on the entrepreneurial character of the millennial generation in IndonesiaAnother finding: Social media did not moderate the relationship between reinventing potential and the entrepreneurial character of the millennial generation, but social media was found to moderate the relationship between financial indenpendence and the entrepreneurial character of the millennial generation in the marketing era 4.0.

Analysis of Financial Independence of Regency/City Governments in Java Island Based on Comparison and High Local Original Revenue (PAD)

The independence of the Regional Government is very important because in Indonesia since 1999 regional autonomy has been applied. However, the achievement of good performance still cannot be fulfilled by all Cities/Regency. The purpose of this study was to determine the interrelationships and comparisons between various financial performance indicators in City/Regency Local Governments. All Cities/Regency on the island of Java are the population in this study. A sample of 113 Cities/Regency was taken based on predetermined criteria. A quantitative approach and descriptive analysis of all indicators were used to answer the research questions. The results of this study indicate that the comparison of PAD based on the type of region and regional potential in the five provinces on the island of Java is not evenly distributed. It was also found that the high PAD owned by the City/Regency became a factor supporting the high or increasing the value of other factors such as Total Assets and Total Capital Expenditure. This research is expected to reveal the performance of the City/Regency in terms of PAD and other related factors as an illustration of regional financial independence in the City/Regency.

An Ecological Model of Risk Factors in Older Adults With Repeated Exposure to Elder Mistreatment

Limited empirical studies examined the factors related to repeated EM exposures among Chinese older immigrants. Guided by the ecological model, this study aims to explore what are the risk factors leading to recurrence of EM. Data were drawn from the two-wave PINE Study with 725 participants having EM at baseline and 191 reported repeated EM after two years. EM was evaluated by a 66-item instrument, including psychological, physical, and sexual mistreatment, financial exploitation, and caregiver neglect. Logistic regression was used. Increasing financial independence was associated with lower possibility of repeated EM (OR: 0.72, 95%CI 0.56-0.92). Every one unit increase in ADL impairment (OR: 1.10, 95%CI 1.02-1.18), IADL impairment (OR: 1.09, 95%CI 1.05-1.13) and increase frequency of alcohol consumption (OR: 1.33, 95%CI 1.06-1.66) were associated with higher possibility of repeated EM. Social service could improve physical function, provide financial support, and reduce health-risk behavior to prevent the recurrence of EM.