基于VAR横型对城镇化、工业化与金融发展变迁的实证分析——广饶案例

工业化、城镇化是我囝经济发展的两大引擎,金融是现代经济的核心,三者之间是相互联系的。本文以广饶县为案例,基于VAR模型对三者之间的因果关系进行实证分析。通过广饶县工业化、城镇化和金融发展的历程比较发现,金融发展对工业化、城镇化起到了积极助推作用,工业发展到一定阶段义进一步促进了金融发展。     

Business-model (intent)-based accounting

We discuss how basing financial reporting on an entity's business model is, in effect, basing financial reporting on management's intent with respect to the use, transfer or other disposition of an asset or liability. We provide several examples of existing International Financial Reporting Standards and US Generally Accepted Accounting Principles that permit or require intent-based accounting. We describe the meaning and consequences of basing the accounting for financial assets on management's intentions for realising value from those assets. We analyse the positive and negative features of intent-based accounting in the context of the Financial Accounting Standards Board's and International Accounting Standards Board's conceptual frameworks, specifically, the qualitative characteristics relevance and comparability and the objective of financial reporting, and apply that analysis to existing and proposed guidance for measuring financial assets. We also discuss evidence from academic research on the measurement of financial assets.     

Came and gone? A longitudinal study of the effects of COVID-19 on tourism purchasing intentions

The study is based on a multi-year research conducted in three successive years (2019; 2020; 2021). Drawing from three samples (N = 507; 463; 488) it longitudinally examines the complexity and the derived chaordic systems of the impact of COVID-19 upon the purchasing intentions of adult Athenian holidaymakers by using fuzzy-set Qualitative Comparative Analysis. In doing so, it evaluates the simple conditions of impact of recession, destination selection, and price and quality risks, also progressing to a complementary examination through Necessary Condition Analysis. The findings generate three pathways (price-quality nexus; financial focus; destination orientation) leading to the same outcome (purchasing intentions), the hierarchy of which changed over time. They also highlight the impact of recession and quality risks as constant necessary conditions, and demonstrate the transformation over time of destination selection and price risks from influential to necessary. The contribution of the study lies in both the theoretical and methodological domains.     

Gender differences in recollections of economic socialization,financial self-efficacy,and financial literacy

The OECD/INFE international surveys of adult financial literacy (OECD/INFE 2016, 2020) show gender differences in financial literacy in developed countries in Europe. In this study, we examine whether these differences can be explained by gender differences in parental economic socialization using the Dutch 2018 DHS household survey. We investigate whether respondents' recollection of economic socialization when young predict their adult economic behavior and self-assessed financial knowledge. The results from ordinal logit and logistic regressions and for nonlinear equations decompositions reveal gender differences in the recollection of economic socialization and in how socialization practices are related to economic behavior and self-assessed financial knowledge. Men have to a greater degree than women been socialized in terms of having paid work outside the home, while women more often than men report that their parents controlled their spending. Moreover, we find gender differences in how men and women benefitted from the same socialization practices.     

Proposal and validation of a financial protection perception scale

This article proposes and validates a financial protection perception scale (FPPS) from the perspective of the financial services consumer. The scale was applied to a sample of 1137 individuals residing in Brazil and validated using exploratory and confirmatory factor analysis and standard multivariate validation methods. The FPPS, composed of 14 items, allows the development of an indicator that defines the level of protection perceived by the consumer of financial services, evaluated along the dimensions of transparency, suitability, security, and complaints. The tests and fit indices indicated the reliability and validity of the FPPS. With this scale, researchers, managers, and policymakers can assess the extent to which consumers feel protected when using financial services.     

Predicting the antecedents of consumers' intention toward purchase of mutual funds: A hybrid PLS-SEM-neural network approach

The current study intends to identify the behavioural antecedents of investors' attitude and investment intention toward mutual funds using a robust SEM-ANN approach. It focuses on novel factors in the purview of the COVID-19 pandemic, increasing digitalization and social media usage. The research outcome indicates that attitude (ATB), awareness (AW) and investment decision involvement (IDI) have a significant positive relation with investment intention (BI). In contrast, perceived barrier (PBR) negatively relates to investment intention. Herd behaviour (HB) and social media influence (SMI) do not influence investment intention toward mutual funds. Moreover, all the tested predictors share direct relation with the attitude toward mutual fund investment, barring perceived risk (PR), which has an inverse relationship. As per the outcome of ANN sensitivity analysis, attitude is the most crucial determinant of investment intention. It is followed by awareness (AW), perceived barriers (PBR) and investment decision involvement (IDI). Among the significant determinants of attitude, self-efficacy (SE) is the most important determinant, followed by perceived usefulness (PU), perceived emergency (PEMER), subjective norms (SN) and perceived risk (PR).     

What does luxury really mean to millennial consumers?

The aim of this study was to determine how millennial luxury consumers define luxury based on a holistic systems theory perspective. The human ecosystem and its components were used to fully investigate the system of the millennial luxury consumer. A mixed methodology was used by conducting interviews and then a consumer survey. Based on the findings from this research, the definition for luxury based on the view of the millennial luxury consumer is as followed: Luxury is the characteristics of the product themselves, addresses the consumer's personal needs, and addresses the consumer's social needs. This study suggests that the ecosystem of the millennial luxury consumers, including its environments and interactions, helped in constructing their definition of luxury. This definition delivers millennial luxury consumer insights for luxury retailers and may provide strategic adaptations to help attract and retain millennial luxury consumers, while also supporting business sustainability in a challenging retail environment.     

Quality financial inclusion and financial vulnerability

Despite existing evidence suggesting that financial inclusion enhances consumers' welfare, there has been no attempt to examine the link between financial inclusion and financial vulnerability, measured along multiple dimensions. We computed more comprehensive indices of financial vulnerability and financial inclusion using polychoric principal component analysis based on a nationally representative financial inclusion survey in South Africa. Results from quantile regressions show that only the top 20% of the financially included had lower vulnerability but the effect was weaker among the more vulnerable categories. Also, the decline in financial vulnerability was less pronounced when financial inclusion was narrowly defined by excluding quality indicators. These findings suggest that financial inclusion is benefitting a few consumers in South Africa which points to the need for a bottom-up approach in designing financial products that improve the welfare of the financially included consumers.     

E-commerce sellers' ratings: Is user feedback adequate?

The literature on the theory of public procurement points out two well-known informational problems arising out of information asymmetry: (i) adverse selection and (ii) moral hazard. To reduce these issues and foster credibility and trust in the procurement process while maintaining quality and efficiency in public procurement, e-procurement platforms have turned to reputation or rating systems. Therefore, the research and design of such rating systems are crucial. In this study, we discuss the theoretical underpinnings of procurement and employ the information-theoretic, regression analysis, artificial neural network and principal component analysis (PCA) approaches to estimate the weights of the variables entering the rating system. Using real data from Government e-Marketplace, a business-to-business public e-commerce portal, we empirically determine the weights of the rating variables derived from the transaction-level and user feedback data for sellers. The weights obtained from the PCA are the most applicable compared with the other three methods. We compare the old rating system with the newly proposed design using the Wilcoxon signed-rank test. This results in a statistically significant difference between the two ratings. The canonical correlation and Wilks' trial reveal that the ratings derived from transaction-level data and user feedback are uncorrelated to a great extent. Hence, considering only transaction-level data or user feedback is unlikely to divulge sellers' intrinsic worth. E-commerce platforms can use this approach to quickly implement methods to obtain rating scores on a real-time basis for sellers on online platforms.     

Financial inclusion and food insecurity: Examining linkages and potential pathways

Considering the worsening levels of food insecurity globally, studies exploring the link between financial inclusion and food insecurity have become imperative. This paper contributes to the literature by examining the effect of financial inclusion on food insecurity using a multidimensional index of financial inclusion and a food insecurity construct obtained from the Food Insecurity Experience Scale. Based on data extracted from the seventh round of the Ghana Living Standards Survey, our preferred endogeneity-corrected results indicate that improvements in financial inclusion is associated with a reduction in food insecurity. This finding is consistent across different conceptualisations of food insecurity, alternative weighting schemes and cut-offs for the financial inclusion index and different quasi-experimental methods. Financial inclusion is mainly effective in reducing food insecurity in male-headed and rural-located households. Our findings reveal that entrepreneurship is an important pathway through which financial inclusion influences food insecurity.