Investment Behavior: Factors that Impact African American Women’s Investment Behavior

The wealth of African Americans has lagged behind that of the general US population. The key to understanding this may lie in African American women’s money management abilities and feelings relating to money because they are often the household’s money manager. This study answers the question, “If African American women had greater confidence in their ability to manage money, or had a positive attitude towards money, would they invest in the stock market more often and ultimately increase their net worth in this way?” Researchers studied a cross-section of African American women, using three logistic regression models and found that African American women who were sure of their ability to manage their finances and felt in control of their money were more likely to be investors. A higher number of younger African American women were investors, compared to older African American women. In addition, younger African American women had greater confidence in their money management ability than their older counterparts.

PENERAPAN AKUNTANSI SEDERHANA PADA USAHA RETAIL RUMAH TANGGA BERBASIS MONEY MANAGER APPS DI KELURAHAN CIKASUNGKA, KABUPATEN TANGERANG

In this Community Service (PKM), the partners we are guiding are the people in the Cikasungka Village, Solear District, Tangerang City. Our target is a household retail business, mostly run by housewives. Based on our observations, we can identify several problems faced by partners, including: very minimal knowledge about management, accounting and information technology. This is based on the relatively low level of education of partners. Moreover, current knowledge as millennial children have about systems/applications such as Money Manager Apps. So the purpose of community service is to provide adequate knowledge to household scale retailers about simple accounting so that it can be applied in everyday life. It is hoped that with the knowledge they have, financial governance can be done better, so that cash flow runs properly and does not cause "losses" (due to mismanagement) in entrepreneurship. The Implementation Method used in carrying out this activity consists of 2 stages: preparation of training and training materials, guidance also assistance. Keywords: Accounting, Retail Business, Household, Money Manager Apps

Research on the Multi-Period Optimal Fee of the Money Manager Under Cumulative Prospect Theory

We are interested in investors’ interaction with portfolio managers and investigate the manager’s optimal strategy under cumulative prospect theory. We create model to characterize the relative anxiety about investing in risk assets and trust in the manager. Besides, we research how anxiety and trust affect the manager’s fee and the investors’ portfolios under cumulative prospect theory. Compared with previous work, our main novelty is that we focus on a dynamic portfolio selection. In other words, we formulate the optimal problem under multi-period setting. Besides, relying on the sub-game perfect investment strategies, we attain an optimal fee in multi-period. Another contribution is to discuss multiple risky assets. We use elliptic distribution to reduce a high-dimensional optimal problem to a one-dimensional optimal one. We obtain the CPT-investors’ portfolio for multiple risky assets under a dynamic framework. Based on this result, we study the manager’s optimal fee. It is valuable to say that we explore the optimal strategy for the manager under cumulative prospect theory but not the classical mean-variance preferences.

Nation-level Gender Inequality and Couples' Income Arrangements

Using data from the 2012 International Social Survey Program (n = 8,269), this study investigated how couples integrate and manage their income across 20 countries with varying degrees of gender inequality. Couples were more likely to report that one person managed the shared pot of money in countries with high gender inequality compared with couples in more gender equal countries. This pattern was not moderated by within-couple earnings equality. We found a cohabitation—marriage gap in income arrangements that is largest where national-level gender equality is high. In more gender equal contexts, married couples were more likely to pool and manage their money together, whereas a larger proportion of married couples assigned one money manager in countries with less gender equality. Cohabiting couples were more likely to keep some money separate than to take-up a pooled, jointly managed approach in more gender equal countries. Findings demonstrate the need to consider both management and pooling dimensions of couples’ treatment of money to understand the influence of contextual factors on couples’ income arrangements.

Understanding financialization: standing on the shoulders of Minsky

Since Hyman Minsky’s death in 1996, much has been written about financialization. This article — by means of the synthesis, interpretation, and assessment of an extensive literature — explores the issues that Minsky examined in the last decade of his life and considers their relationship to the financialization literature. At the heart of those issues is what Minsky called money manager capitalism, which he viewed through the lens of a theory of capitalist development inherited from Joseph Schumpeter. Advancing our understanding of the history of financial economics, the article shows how Minsky contributed to — indeed, anticipated much of — the study of financialization. The article also identifies two sources of Minsky’s insightfulness: his treatment of economics as a grand adventure, and his willingness to step beyond the world of theory and interact with the world of practice. Today, scholars with a Minsky perspective face formidable challenges, but, the author concludes, within Minsky’s writings is also a glimmer of hope: Economic systems are not natural systems; we can reshape them to achieve a more humane world.

KONSEP RIBA DALAM AL-QUR’AN

Riba is an economic activity that is prohibited by the Qur’an. Chronologically, the ban has been outlined clearly. On the other hand, bank interest that become one pillar of the existence of financial institutions is rated synonymous with usury. Financial institutions have become a pillar of economic growth. The problem is why the Qur’an forbids usury, whereas various economic activities ‘need’ the existence of interest that are identical to the usury. This study found two findings. First, the prohibition of riba in the Qur’an have preceded other forms of restrictions are more morally intolerable that broadly impacts a major disadvantage in the community. On the other side of the Qur’an strongly encourages the public Makkah to help the poor and orphans around him. Second, the prohibition of riba in the Qur’an has relevance to the real sector of the economy. Therefore, the economy based on usury will naturally ignore the underlying transaction which is the basis of the real sector. As a result of the investors (capitalists) certainly fortunate while the money manager/entrepreneur is still no clarity, so that the position is unbalanced, unjust. The usurious economic system can lead to gaps world community economic growth constantly.