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Generation Z, born between 1995 and 2010, is notable for its proficiency with technology, social media presence, expressiveness, tolerance, and multitasking abilities. The advancement of technology, combined with these qualities, raises the possibility that Generation Z will have consumerist tendencies. This study aims to examine Generation Z's perceptions and practices of personal financial management in Indonesia. The research employs a qualitative approach with data collection through literature review. The Significance of Personal Financial Management, Building Economic Stability Through Financial Literacy are some of the major subjects that were investigated. The results revealed that by managing their finances, Generation Z may achieve their goals, protect themselves from uncertainty, and contribute significantly to society. Personal financial management is essential for ensuring financial security and personal well-being. Developing financial literacy in Generation Z is obviously vital to ensuring economic stability. Providing people with the knowledge and abilities to handle their money wisely helps to improve both their financial security and the overall stability of the economy. One of the primary responsibilities of the Indonesia Financial Services Authority, also known as Otoritas Jasa Keuangan, or OJK, is to promote financial literacy throughout the country. Financial literacy is critical for both individual financial wellbeing and economic stability. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to investigate the moderating effect of sustainability reporting on the relationship between the independent variables of board diversity, and earnings management and the dependent variable of readability of financial statements. Design/methodology/approach: The study panel data regression analysis involved 36 Kenyan-listed companies from 2016 to 2020. Findings: Key findings were that increased board diversity was found to significantly improve the readability of financial statements. Discretionary earnings management was found to significantly reduce the readability of financial statements. Sustainability reporting was found to significantly increase the readability of financial statements, and it moderated the relationship between board diversity, earnings management and financial statements readability in Kenya. Research limitations/implications: The study sample of 36 non-financial listed in the Nairobi Securities Exchange was very small and was affected by the problem of thin trading; hence, caution should be adopted when interpreting the findings. Practical implications: The Capital Markets Authorities (CMA) as a policymaker should enforce sustainability reporting by Kenyan listed firms as there is evidence that the reporting enhances the readability of financial statements. The Institute of Certified Public Accountants as a policymaker should closely monitor the published financial statements of firms for earnings management and punish the perpetrators, as there is empirical evidence that the practice reduces the readability of financial statements. Social implications: Sustainability reporting is successful as a moderating variable between readability of financial statements and determinants of readability of financial statements. Originality/value: This study contributes to knowledge by studying sustainability reporting as a moderating variable between the independent variables of board diversity and earnings management and the dependent variable of readability of financial statements and measured sustainability reporting using a dummy variable for the period before and after the enactment and release of CMA code of 2016 on corporate governance that required sustainability reporting by Kenyan listed companies. [ABSTRACT FROM AUTHOR]

Tax avoidance practices wield a substantial influence on the fiscal landscape, shaped by the strategic decisions of businesses and their organizational capital (OC), a vital reservoir of strategic assets unique to each firm. This study delves into the nuanced relationship between corporate tax avoidance and OC within the Iranian context, while also examining the moderating effects of firm size and CEO overconfidence. Leveraging a dataset spanning from 2016 to 2021, comprising 142 firms listed on the Tehran Stock Exchange, and employing advanced multivariate regression techniques, our analysis unveils a significant and positive association between tax avoidance strategies and OC. Notably, this relationship remains consistent across firms of varying sizes, indicating that size does not significantly moderate this association. Furthermore, our investigation reveals the influential role of CEO overconfidence in shaping the intricate interplay between tax avoidance and OC. These findings contribute to the ongoing discourse on corporate tax strategies, offering insights applicable to firms of diverse sizes and magnitudes. [ABSTRACT FROM AUTHOR]

In today's rapidly evolving technological landscape, the valuation of startup companies holds significant importance, given the increasing interest in startups among companies. Valuation models for startups typically fall into two categories: quantitative and qualitative methods. This study employs a qualitative research approach, utilizing meta-synthesis methodology, to identify and categorize these valuation models. Through a systematic evaluation of 162 previous research findings using Wilson's seven-step meta-synthesis process, nine main categories and 63 subcategories were extracted from the literature. These categories were then analyzed and weighted using Shannon Entropy analysis. The findings reveal two overarching categories: quantitative valuation, encompassing cost-oriented, market-oriented, revenue-oriented, and actual methods, and qualitative valuation, comprising human capital, organizational capital, market-based assets, industrial structure, and quality techniques. This study's outcomes offer valuable insights for venture capitalists and financial managers, facilitating a deeper understanding of startup valuation and the classification of valuation models. [ABSTRACT FROM AUTHOR]

Understanding the relationship between risk and government bond returns is crucial for assessing the influence of risk factors on bond returns. This study investigates the dynamics of risk-taking behavior and its impact on the performance of government bonds in Indonesia. Using monthly data spanning from January 2017 to December 2021, we employ a multifactor model with GARCH analysis technique to analyze the data. The findings reveal that risk exposure exerts a negative and significant effect on government bond returns in Indonesia, while market factors also negatively and significantly influence bond returns. Conversely, the joint stock performance exhibits a positive relationship and significantly impacts returns in Indonesia. [ABSTRACT FROM AUTHOR]

In the wake of recent turbulent events in the global economy, the need for robust methods to navigate uncertainties in financial markets has become increasingly apparent. Robust portfolio optimization (RPO) offers a solution by devising investment strategies that perform well even under adverse scenarios of uncertain inputs such as returns and covariances. This paper conducts a systematic review of recent developments and extensions in the field of RPO. Leveraging bibliometric analysis and visual mapping techniques, we scrutinize 1085 articles published between 2000 and 2023. Our analysis traces the evolution and trends within RPO, examining the interconnectedness among articles, authors, sources, countries, and keywords. The insights gleaned from our study can guide future research endeavors in this domain and aid practitioners in making more informed investment decisions. [ABSTRACT FROM AUTHOR]

This paper analyzes the impact of modern financial technologies (fintech) on traditional financial institutions (banks) in Georgia. The research involved both quantitative and qualitative methods. Assumptions were made based on the analysis of the financial indicators of the leading traditional Georgian bank, results of surveys with traditional bank customers, results of structured interviews with specialists of the National Bank of Georgia, and results of structured interviews with top management of financial institutions. These assumptions focus on whether banks have managed to adapt to the modern financial environment, what impact fintech has had on their financial stability, and whether the National Bank is capable of addressing the risks associated with fintech by introducing relevant regulatory norms. The article concludes with pertinent findings and recommendations. [ABSTRACT FROM AUTHOR]

Generative adversarial nets (GAN) have shown a remarkable success in many fields of applications to produce realistic data artificially, and the works on images dominate most of them. In this article, the authors propose to apply a set of GANs, including GAN, CGAN, WGAN, CWGAN, RGAN and RCGAN, to generate high-dimensional financial time-series data with proposed evaluation metrics. They show that the conditional GAN (CGAN) model demonstrates robust and satisfactory performance in generating high-dimensional time series by various testing sets, including using the data of the COVID-19 period as the test set. The authors aim to develop a default risk model to calculate the jump-to-default risk. They propose to use the CGAN as an alternative to the industry practice based on the Monte Carlo (MC) simulation. Their studies on two real-data portfolios demonstrate the CGAN model, as a cutting-edge nonparametric approach, addresses the drawbacks of the industry standard approach and generates more realistic returns with convincing defaults and smoother tail loss distribution. Overall, the CGAN model demonstrates its ability to generate high-dimensional financial time series and shows a strong performance to model default risk. It proves a promising alternative to the popular MC simulation. [ABSTRACT FROM AUTHOR]

How to structure the topology of a neural net (the hyperparameters optimization) is a recurring problem of crucial importance for both the quality and rapidity of the learning process, which will be then translated onto the final outputs. In this article, the authors investigate a smart two-step procedure that formalizes the application of deep feed-forward neural nets in the problem of the calibration of the SABR option-pricing model. The analysis is performed without the need of manually preparing the network topology, that is instead optimally chosen by means of a Bayesian algorithm. An extensive numerical experiment shows that their approach possesses superior approximation, calibration and retrieval properties when compared to the Hagan's formula and the ZC map. [ABSTRACT FROM AUTHOR]

The author uses extreme value theory to study time-varying idiosyncratic tail risk for a large panel of US stocks. The author demonstrates a significant performance gain by using forward-looking information extracted from implied volatilities and nonlinear models, compared to linear models that use only backward-looking information. Extreme value theory plays a key role in predicting the distribution of return realizations conditional on the occurrence of a tail event. The author finds that, surprisingly, out-the-money calls (respectively, puts) contain important information about lower (respectively, upper) tails. Furthermore, the author finds evidence that the asymmetric nature of the negative tail distribution in comparison to the positive tail is captured by nonlinear models only. [ABSTRACT FROM AUTHOR]

In this article, an iterative deterministic policy gradient method for finding optimal strategies in the presence of market impact is introduced. The derivation of the policy gradient sheds light on a proper way of handling the market impact of trades in the context of reinforcement learning. Similar to many machine learning methods, the proposed deterministic policy gradient method is based on mini-batch stochastic gradient descent optimization. The method is demonstrated to consistently perform well for several different objectives and market dynamics when applied to the financial applications of order execution and option hedging. [ABSTRACT FROM AUTHOR]

Reinforcement learning (RL) has emerged as a promising approach for developing intelligent trading systems in the stock market. The intention of this survey article is to provide a comprehensive review of the state-of-the-art RL techniques used in stock market applications. This article begins with the introduction of basic concepts of RL and its applications in the stock market. A detailed analysis of the different RL algorithms, which includes Q-learning, deep Q-networks (DQN), actor–critic, and policy gradient methods, is presented later. These algorithms have been used for various tasks such as prediction of stock prices, portfolio management, and risk management. Further, the challenges of RL in stock trading are discussed, and potential areas for future research are highlighted. The strengths and limitations of each technique are analyzed to provide insights about their suitability for different trading scenarios. Overall, this study seeks to give a thorough summary of the RL research conducted to date in stock market trading. The analysis can serve as a useful guide for researchers, practitioners, and investors interested in applying RL for stock trading, as well as for those seeking to understand the potential of this emerging technology in financial markets. [ABSTRACT FROM AUTHOR]

In modern portfolio management, adapting to dynamic market conditions poses a significant challenge for investors seeking optimal risk-adjusted returns. Traditional static allocation strategies, rooted in modern portfolio theory and factor investing, often fail to capture the nuanced dynamics of changing regimes. This article presents a novel approach, regime-aware multifactor allocation with optimal feature selection. The goal is to optimize single-factor performance in response to changing regimes through the recently developed statistical jump model. The authors independently identify regimes over each of their factors by fitting a two-state jump model biannually and construct a multifactor investment portfolio. The authors' optimal feature selection methodology, whereby they remove the assumption of stationarity, allow for a temporally adjusting input feature set. The article extends prior work by showing (a) a regime-aware single-factor strategy outperforms a regime-agnostic single-factor strategy, (b) a regime-aware multifactor strategy outperforms a regime-agnostic multifactor strategy, and (c) an optimal feature selection drastically improves temporal regime identification and outperforms a fixed feature set. Through empirical out-of-sample analysis, the authors demonstrate the efficacy of the framework over six primary long-only equity factors. Their findings contribute to the growing body of research on regime-switching investment models, providing portfolio managers with a robust framework for navigating dynamic market conditions and enhancing portfolio performance. [ABSTRACT FROM AUTHOR]

Purpose - Adapting to technological advancements and fostering competitiveness poses compelling challenges for universities worldwide, including Indonesia. This prompts the implementation of varied policies, reshaping financial and managerial aspects across academic and non-academic spheres. In this transformative process, cultivating readiness for change across all organizational levels, including among non-academic staff, is crucial. This study aims to identify factors predicting readiness for change within non-academic staff, with perceived impact of change acting as a mediating factor. Methodology - This quantitative study collected the data through surveys conducted among non-academic staff from Indonesian universities under general state financial management (n = 290). The examination focused on predictors encompassing openness to change, organizational trust, and communication climate. Path analysis was employed to examine the role of perceived impact of change among exogenous and endogenous variables. Findings - The findings revealed a compelling correlation: nonacademic staff who exhibit higher levels of openness to change, harbor trust in their organization, and perceive a positive communication climate are predisposed to being more prepared for change. Moreover, the study underscored the significance of a mediating variable in influencing readiness for change, offering an imperative avenue for further exploration. Significance - Practically speaking, for universities operating under general state financial management and preparing to embark on governance changes, this research would help non-academic staff understand the change process and its effects on them. [ABSTRACT FROM AUTHOR]

Purpose This study investigates how Digital Game-based Learning (DGBL) impacts the development of product innovation skills among undergraduate students, comparing the performance of students across different disciplines--Applied Arts (AA) and Applied Sciences (AS). Methodology The study involved 80 undergraduate students: 40 students pursuing an AA degree and 40 pursuing an AS degree. The design of the innovation game incorporated cognitivist learning strategies based on Bloom's taxonomy. Innovation skills were evaluated through an open-ended achievement test. FindingsThe study revealed that DGBL effectively enhances product innovation skills by integrating cognitive strategies, and Bloom's Taxonomy into guided answers, and open-ended achievement tests. AS students excelled in problem identification and idea creation, while AA students emphasised psychological, emotional factors and visualisation representation. Significance The findings suggest promoting interdisciplinary collaboration among educators and policymakers to integrate aesthetics and technological knowledge. This approach enables students from diverse disciplines to leverage their strengths for holistic innovation. For practical applications, game designers and educators can model product innovation steps, offer guided answers, track progress and award virtual badges. The open-ended achievement test is a valuable tool for assessing innovation skills across diverse student backgrounds. Future studies should focus on integrating cognitivism and constructivism in collaborative learning, using generative AIassisted assessment, and bridging virtual idea generation with realworld product idea pitching using voice-input technologies. In conclusion, this study provides practical guidelines for implementing DGBL in product innovation, influencing education, policy-making, and design practices. [ABSTRACT FROM AUTHOR]

Examining the structure of dependence between financial assets and the effects of their Co-movement is one of the important issues in financial markets. The corresponding copula is one of the most computationally convenient ways to describe the dependency structure. This paper examines regime change probability and the best copula model between Bitcoin and six other assets from 2018 to 2021. First, using the ARMA-GARCH model, the marginal distribution functions for all assets and residuals are calculated. Then, by using the obtained residuals, 11 models of copula and six models of combined Copula with Markov switching were implemented. The model that has the best function for constructing combined distribution functions is selected. Finally, the regime probabilities each time are calculated from the best-fitted model. The results show that in the study period, for Bitcoin-Ethereum, Bitcoin-Cardano, and Bitcoin-Gold pairs MS-CT, for Bitcoin-Binance coin and Bitcoin-Ripple pairs MS-CRG and MS-CN for Bitcoin-Oil pair have the best performance. Furthermore, the probabilities of regime change between each asset at each time were calculated and described. [ABSTRACT FROM AUTHOR]

The MSME sector is expected to become a new source of national economic strength during crises. To achieve this, the government should focus on human resources and management. Limited innovation within SMEs has led to stagnant growth, and financial issues often hinder productivity. One community service project is the Suputra herbal incense SME in Angantaka Village, Abiansemal, located 11.2 km from Universitas Warmadewa. According to Mrs. Ayu, the main challenge is limited business management capabilities. A lack of business management knowledge impedes growth. The partnership program aims to increase sales and improve financial practices through three activities: financial management assistance, production management, and creating a product catalog. The results show structured bookkeeping, reduced errors, enhanced management efficiency, and the development of a product catalog. [ABSTRACT FROM AUTHOR]

This study examines the impact of digital literacy campaigns and computerized accounting databases on the financial reporting practices of micro-enterprises in Indonesia. Micro-enterprises, which play a vital role in the Indonesian economy, often struggle with financial management due to limited knowledge and resources. To address these challenges, digital literacy campaigns were implemented to educate micro-enterprise owners on the benefits and usage of digital financial reporting tools. The primary objective of this research was to enhance financial literacy among these business owners and facilitate the adoption of computerized accounting systems, which are expected to improve the accuracy and efficiency of financial reporting. The study involved 50 micro-enterprises from various sectors, including food and beverage, fashion, and crafts. Data were collected using structured questionnaires and direct observations. The research aimed to assess how digital literacy campaigns could improve financial reporting practices, thereby supporting better financial decision-making and business sustainability. The digital literacy campaigns provided training on financial literacy, the importance of financial reports, and tips on obtaining funding using reliable financial reports. Additionally, computerized accounting templates were introduced to automate accounting processes, reduce errors, and save time, allowing business owners to focus on strategic aspects of their businesses. The findings of this research are expected to offer valuable insights and recommendations for policymakers, educators, and business owners. By highlighting the benefits of digital financial literacy and the importance of adopting digital tools, this study aims to drive the implementation of best practices among micro-enterprises. Ultimately, the research seeks to contribute to the growth and sustainability of micro-enterprises, thereby enhancing their role in the national economy. [ABSTRACT FROM AUTHOR]

This research is intended to assess the influence of income level, financial behavior and financial management on financial well-being. This research is quantitative in nature and involves a population that includes various variables, such as age, gender, occupation, and level of income/pocket money (monthly) in Sukaragam village. The sampling method in this research used non-probability sampling. Data was obtained from a number of respondents through questionnaire distribution, both conventionally and via online Google Form. Data analysis was carried out using SPSS version 26 software by applying the multiple linear regression method. Descriptive statistical approaches, instrument testing, classical assumption testing, and hypothesis testing were also used in the data analysis process for this research. The research results show that income level and financial management do not have a significant influence on financial well-being. On the other hand, financial behavior has been proven to have a significant positive influence on financial wellbeing. [ABSTRACT FROM AUTHOR]

Risk adjustment systems, which reallocate funds among competing health insurers, often use risk adjustors that are based on utilization. The level of utilization that triggers an adjustor—the utilization threshold—is frequently chosen implicitly and uniformly. I study utilization thresholds empirically in the setting of the US Marketplaces. I demonstrate how an explicit choice of such thresholds, tailored to each adjustor, may improve the prediction fit of the risk adjustment system and decrease the incentives to game it. Using simulations, I find that a single alternative threshold may improve the prediction fit in some disease groups by up to 14 percent. A choice of multiple utilization thresholds, guided by a regression tree algorithm, may further improve fit while taking into account the effect on gaming incentives. [ABSTRACT FROM AUTHOR]

Black youth have consistently reported that when they are transitioning from out-of-home care (OOHC) into independence, they are not supported or included in decision-making, and they feel isolated and vulnerable as they face an uncertain future. Previous research has documented the ways in which Black youths' experiences in care are characterized by unpredictability and loss, but then care ends—and they continue to struggle. For Black youth in care, this transition can be exceptionally difficult as they are contending with the additional strain of doing so within the child welfare system and larger social context characterized by a loss of community and the persistence of anti-Black racism. Presently, there are no empirical studies in Ontario that investigate Black youth's narratives transitioning from OOHC; this manuscript seeks to fill this gap in knowledge. Employing Adultification and Anti-Black Racism Theory as theoretical frameworks, this qualitative study investigated the narratives of 27 Black youth with lived experiences navigating OOHC in Ontario's child welfare system. This study utilized narrative inquiry as a methodological approach. Three main narratives were identified: (1) the need for finances and a financial literacy; (2) narratives of aging out and (3) the challenges of navigating funding. To better support Black youth in their transition out of care and in independent living, recommendations for policy and practice include earlier transitional support, ensuring youth have a practical understanding of financial literacy, and educating youth about resources and their rights. [ABSTRACT FROM AUTHOR]

The Dutch health system is financed predominantly by commercial bank loans, especially after the market-oriented reform in 2006, when government investment guarantees were abandoned. Commercial capital markets were envisaged to improve efficient capital allocation and management. We analyzed the effects of commercial bank loans on interest rates, investments and allocative efficiency in the Dutch healthcare sector. We aimed to explain variation in interest rates by financial performance of healthcare providers, hypothesizing that the reform reduced interest rates for financially well-performing providers. Using financial data from publicly available annual reports, we explored the effect of financial performance on long-term loan interest rates through pooled linear regressions. Our data showed that financial reserves have steadily increased, although profitability margins have declined since 2011–2013 (depending on the sector). While nominal interest rates have generally declined since 2006, the risk surplus on healthcare loans has steadily increased. Furthermore, we observed no significant relation between the financial performance of healthcare providers and interest rates on capital loans. Maintaining additional financial reserves provided no apparent benefit to capital costs. This suggests that healthcare providers may consider whether financial reserves should be maintained at current levels or can better be used for direct investments. Moreover, healthcare policymakers should evaluate whether the increase in risk surplus combined with an apparent lack of reward for financial scrutiny is a desired outcome of the reform. [ABSTRACT FROM AUTHOR]

Financial inclusion programs are increasingly being echoed by the government at various levels of society. This program aims to open financial access and quality financial services for community groups who have not received it, so far. But in fact, financial inclusion programs are not balanced with increasing financial literacy in the community. One of the efforts made by village-level economic institutions (BUMNag) in implementing financial inclusion, while increasing the financial literacy of their communities is through community-based savings programs. This article analyzes the challenges in improving people's financial literacy from a social identity perspective. The research uses a qualitative approach with a case study method. This research was conducted in a "Simpanan Bajapuik" program at one of the Village Owned Enterprises (BUMNag) in West Sumatra. This research found that "Simpanan Bajapuik" is a program implemented with an individual empowerment approach in helping people get community-based financial access. In addition, this article finds that identity conflicts are the main obstacle in implementing the "Simpanan Bajapuik" program. From the perspective of social identity, this article analyzes the active participation of community members in the "Simpanan Bajapuik" program that can overcome multiple identity conflicts experienced by other community members. This article contributes to explaining aspects of the relationship between individuals and between groups, in the process of financial inclusion and increasing financial literacy through the "Simpanan Bajapuik" program policy. [ABSTRACT FROM AUTHOR]

This study aims to analyze the impact of financial socialization on financial well-being through financial literacy as a mediating variable. Using a quantitative approach, the study involved 200 employees of PT. Solusi Bangun Indonesia Tbk and collected data through questionnaires. The analysis, conducted using Structural Equation Modeling (SEM), revealed that financial socialization significantly affects financial literacy but not financial well-being. Financial literacy positively influences financial well-being but does not act as a mediator. These findings emphasize the importance of improving financial literacy to support better financial management and enhance individual well-being. This research provides insights for the development of more effective financial education programs to improve financial literacy and well-being among employees. Future research should consider longitudinal studies to explore these dynamics over time and across different demographic groups. [ABSTRACT FROM AUTHOR]

Performance Based Budgeting carried out in Indonesian private higher education found lots of constraints. Apart from factors of cultural work, leadership, and negative perceptions of the community academics, obstacles, and budget limitations are big challenges. This study examines field data related challenge of performance-based budgeting in Indonesian private higher education in particular linked with budget limitations. This study uses a quantitative method with an equipped open questionnaire for getting input about the implementation of performance-based budgeting that is recommended in finance management finance in Indonesian private higher education. Respondents were heads of financial management at 213 private universities in Indonesia. Statistical results show that budget limitations have a significant negative effect on performance-based budgeting in terms of performance orientation of -0.824, implementation flexibility of -0.634, and functional approach of -0.654. Furthermore, proposal optimization of performance-based budgeting with challenging Budget limitations are discussed. [ABSTRACT FROM AUTHOR]

The escalating financial burdens faced by the Small Medium and Micro Enterprise (SMME) sector necessitate a perpetual pursuit of enhanced managerial efficacy. For enhanced financial management, client relationship management and inventory control, it is necessary for businesses to utilise various technologies and methodologies. One approach involves the utilisation of business analytical technologies, such as Business Intelligence (BI). Business Intelligence (BI) serves as a valuable tool for enterprises, aiding in the examination and interpretation of data to facilitate informed decision-making processes aimed at enhancing overall business efficacy. The eThekwini region encompasses a significant presence of micro-small enterprises within the apparel manufacturing and retail sector. The primary aim of this research was to identify and analyse the many issues that hinder the evaluation of business intelligence (BI) in micro-small apparel enterprises located in Durban, a city in Kwa-Zulu Natal, South Africa. A cross-sectional quantitative study was undertaken to examine a cohort of 161 small apparel business owners. The participants were chosen through the utilisation of a judgemental sampling technique. The data was gathered through the utilisation of anonymous questionnaires. The data was analysed by utilising multiple linear regression analysis to determine the characteristics that hinder the evaluation of business intelligence (BI) in the small apparel industry. The study employs the Technology-Organisation-Environment (TOE) framework as its conceptual framework. The researcher identified several obstacles that hinder the evaluation of business intelligence in micro-small textile enterprises in South Africa. These factors include perceived relative advantage, cost, organisational data environment, organizational decision-making culture, and external support. However, there are numerous governmental institutions that are intended to provide support for micro-small companies. Therefore, it is recommended that these institutions establish training initiatives aimed at educating apparel SMMEs on BI. The implementation of target-driven training has the potential to significantly contribute to the achievement of vision 2030 for fostering the growth of small, medium, and micro enterprises (SMMEs) to enhance the South African economy. [ABSTRACT FROM AUTHOR]

Purpose: Healthcare-associated infections (HAIs) place a significant financial burden on United States hospitals. HAI treatments extend hospital lengths of stay and increase hospital operational costs while significantly reducing hospital profit margins. Given these challenges, the research aim of this study was to explore the association between HAIs and hospital financial performance. A better understanding of this relationship can assist hospital leaders in optimizing the use of scarce financial resources to reduce HAI prevalence. Methods: Data for calendar year 2022 for active short-term acute care hospitals (n = 1454) in the US were analyzed using multiple linear regression analysis. We explored two derived dependent variables, operating expense per staffed bed and operating expense per discharge. The independent variables included four healthcare-associated infection rates: methicillin-resistant Staphylococcus aureus (MRSA) infection rate, Clostridium difficile (C. diff) infection rate, Catheter-Associated Urinary Tract Infection (CAUTI) rate, and Central Line Associated Blood Stream Infections (CLABSI). Appropriate organizational and market-level variables that may independently influence hospital financial performance were included as control variables. Results: The results revealed that C. diff (β: 0.037, p < 0.05) and CAUTI (β: 0.031, p < 0.05) rates were positively associated with an increase in operating expense per staffed bed, while increases in MRSA (β: 0.042, p < 0.001), C. diff (β: 0.062, p < 0.001), and CAUTI rates (β: 0.039, p < 0.001) were correlated with increased operating expenses per discharge. Conclusions: This study demonstrates that specific HAIs may be associated with increased hospital expenses. Proactively targeting these infections through tailored interventions may lead to reduced hospital costs, improved financial performance, and economic stability. [ABSTRACT FROM AUTHOR]

Under the backdrop of global aging, the escalating number of elderly individuals in poor health poses a growing social burden and impacts economic development and social stability. A fundamental question arises as to whether the advancements of digital finance (DF) can effectively enhance the physical health of the elderly. This study aims to investigate the impact of DF on the physical health of the elderly by utilizing data from the China Health and Retirement Longitudinal Study (CHARLS) conducted in 2013, 2015, and 2018. The results reveal a significant positive impact of DF on enhancing the physical health of the elderly. Furthermore, the study demonstrates that this impact is particularly pronounced among the elderly with higher educational attainment, stronger intergenerational links, and those residing in central cities. A mechanism analysis further reveals that DF contributes to improving the physical health of the elderly by augmenting household disposable income, alleviating liquidity constraints, and enhancing the utilization of medical services. These findings offer valuable insights for the future development of DF and the implementation of policies promoting healthy aging and active aging. [ABSTRACT FROM AUTHOR]

We evaluated the feasibility, acceptability, and preliminary efficacy of an economic and relationship-strengthening intervention to reduce heavy alcohol use among couples living with HIV in Malawi (Mlambe). Mlambe consisted of training on financial literacy and relationship skills, combined with 1:1 matched savings accounts to invest in an income-generating activity. In a randomized controlled trial, we compared Mlambe to enhanced usual care (EUC). We enrolled 78 married couples having a partner on antiretroviral therapy (ART) who reported heavy alcohol use based on the AUDIT-C. Using targets of 75%, primary outcomes included retention rates at 10 and 15-months, session attendance rates, and satisfaction with Mlambe. Exploratory outcomes were heavy alcohol use (AUDIT-C and/or PEth positive), number of drinking days in the past month, AUDIT-C score, optimal adherence to ART (95% or higher), and viral suppression. We exceeded our targets for feasibility and acceptability metrics. Retention rates were 96% at 15-months. Session attendance and satisfaction levels were both 100%. From baseline to 15-months, Mlambe participants reported decreases in mean number of drinking days (from 6.8 to 2.1) and AUDIT-C scores (from 7.5 to 3.1); while ART adherence rates improved across the same period (from 63.2 to 73.9%). Participants in Mlambe, as compared to those in EUC, had lower rates of heavy alcohol use (89.5% vs. 97.2%) and higher rates of viral suppression (100% vs. 91.9%) at 10-months. Differences between arms were not statistically significant in this small pilot study. Mlambe was highly feasible and acceptable, and shows promise for reducing heavy alcohol use and viral non-suppression among couples with HIV in a larger efficacy study. [ABSTRACT FROM AUTHOR]

This research was conducted to analyze the performance of governance in implementing BLUD and provide recommendations for financial governance at Al Ihsan Hospital, West Java Province. This research uses a postpositivism paradigm using a balanced scorecard (BSC) approach using primary data and secondary data obtained from interviews and documentation studies. The analytical tools used are for financial performance including financial ratios and operational cost ratios to operational income (BOPO) as well as compliance aspects of financial management. Meanwhile, service performance includes customer aspects, internal business processes and learning and growth aspects. So, this research will depict the transformation conditions of BLUD management in the field in terms of financial and service performance aspects. The research results show that the growth and learning perspective has the best value compared to the other four perspectives. Therefore, in order for RSUD's to be able to implement better BLUD governance so that they can improve performance, this can be done through adjustments to regional regulations to accommodate the flexibility needs of BLUD's and implementation conditions that continue to develop in the field. [ABSTRACT FROM AUTHOR]

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Purpose: The aim of this paper is to systematically review the literature published in recognized journals focused on recognition-based heuristics and their effect on investment management activities and to ascertain some substantial gaps related to them. Design/methodology/approach: For doing research synthesis, systematic literature review approach was applied considering research studies published within the time period, i.e. 1980–2020. This study attempted to accomplish a critical review of 59 studies out of 118 studies identified, which were published in reputable journals to synthesize the existing literature in the behavioural finance domain-related explicitly to recognition-based heuristics and their effect on investment management activities. Findings: The survey and analysis suggest investors consistently rely on the recognition-based heuristic-driven biases when trading stocks, resulting in irrational decisions, and an investment strategy constructed by implementing the recognition-based heuristics, would not result in better returns to investors on a consistent basis. Institutional investors are less likely to be affected by these name-based behavioural biases in comparison to individual investors. However, under the context of ecological rationality, recognition-based heuristics work better and sometimes dominate the classical methods. The research scholars from the behavioural finance community have highlighted that recognition-based heuristics and their impact on investment management activities are high profile areas, needed to be explored further in the field of behavioural finance. The study of recognition-based heuristic-driven biases has been found to be insufficient in the context of emerging economies like Pakistan. Practical implications: The skilful understanding and knowledge of the recognition-based heuristic-driven biases will help the investors, financial institutions and policy-makers to overcome the adverse effect of these behavioural biases in the stock market. This article provides a detailed explanation of recognition-based heuristic-driven biases and their influence on investment management activities which could be very useful for finance practitioners' such as investor who plays at the stock exchange, a portfolio manager, a financial strategist/advisor in an investment firm, a financial planner, an investment banker, a trader/ broker at the stock exchange or a financial analyst. But most importantly, the term also includes all those persons who manage corporate entities and are responsible for making its financial management strategies. Originality/value: Currently, no recent study exists, which reviews and evaluates the empirical research on recognition-based heuristic-driven biases displayed by investors. The current study is original in discussing the role of recognition-based heuristic-driven biases in investment management activities by means of research synthesis. This paper is useful to researchers, academicians, and those working in the area of behavioural finance in understanding the role that recognition-based heuristics plays in investment management activities. [ABSTRACT FROM AUTHOR]

We examine fund managers' mobility across different funds and the factors associated with their moving to new posts. Based on a comprehensive and unique dataset of open‐ended funds of the booming Chinese mutual fund industry, we model the duration of a fund manager's service as a time‐to‐event counting process and examine how the prevailing market conditions, the manager's performance and the risk profile of the fund determine how long the manager will remain in post. Our study establishes that managerial performance and rising rather than falling markets are the two main factors that make managers less likely to remain in their posts. In contrast, the riskier the profile of the fund with respect to the market, the less likely it is that a manager will move. When all factors are considered, it appears that open‐ended fund managers leave their posts when offered better employment prospects rather than when confronted by market adversity. Our study provides a novel insight into the optimization of investment decisions and encourages regulators to scrutinize the disclosure of appropriate information to investors regarding fund manager changes. [ABSTRACT FROM AUTHOR]

Occupational retirement is a major life transition that involves extensive planning, preparation, and coping strategies. Concept analysis was completed to explore adaptation to occupational retirement as a way to further understand sport retirement. Thirty-nine occupational-related articles were included in the final analysis. The primary antecedent to occupational retirement is financial stability, followed by age and family life. Antecedents to sport retirement include graduation, exhaustion of NCAA eligibility, and possibly injury. The antecedents are unique to each type of retirement, but the consequences are similar. Retirees of both types often experience feelings of loss, grief, depression, and identity crisis while adjusting to these changes. Achieving adaptation to the life transition of retirement can be enhanced by forming identities outside of work and sports, viewing the change as a gain rather than a loss, and preparing for retirement. Additionally, through this analysis, tools to measure quality of adaptation to occupational retirement were discovered. These tools could be applied to sports in future research. [ABSTRACT FROM AUTHOR]

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Existing studies regarding retirement planning have suggested that demographic variables, retirement-related characteristics, and work-related factors are closely associated with retirement planning. However, the importance of individual goal-pursuit tendencies within a multi-dimensional framework of retirement planning has been overlooked. As retirement planning is conceptualized as a multi-faceted and goal-directed behavior, the absence of these concepts within the literature presents an important theoretical and empirical gap. Drawing upon the dual-process model of coping, the current study examined the incremental effects of tenacious goal pursuit (TGP) and flexible goal adjustment (FGA) on four dimensions of retirement planning (i.e. financial planning, health planning, interpersonal/leisure planning, and work planning). Data from 377 Chinese older workers at two time points showed that FGA rather than TGP was positively associated with financial, health, and interpersonal/leisure planning. Further, FGA demonstrated incremental predictive validity over TGP. This study contributes to the retirement planning literature by investigating how older adults' goal-related dispositions may impact their retirement planning in different arenas. Practical implications of our findings, limitations, and future research directions are also discussed. [ABSTRACT FROM AUTHOR]

Purpose: The objective of this paper is to develop a redesigned commissioning process for social care services that fosters integrated care, encourages collaboration and balances professional expertise with client engagement. Design/methodology/approach: This study employs a two-pronged approach: a case study of a municipality's use of subsidy tables and a literature scoping review on integrated care research. Findings: The paper introduces a new framework for the study of the new "subsidy tables." A well-defined and extensive consultation process involving both social care providers (suppliers), the Service Triad, and client representation adds to the existing research on supplier consultation, and on how to define the outcomes for clients via client engagement. Research limitations/implications: While aspects are clearly relevant to the Netherlands, the design of the commissioning process of social care has international relevance as well: finding definitions, formulating outcomes and incentives, designing a more collaborative instead of competitive process, stakeholder engagement and consultation. Practical implications: Several Dutch municipalities started using the "subsidy tables" method for commissioning integrated social care. This paper offers clear improvements that benefit the commissioners, the social care providers and their clients. Social implications: Improving the commissioning process of integrated social care will lead to better fitting care for people who need social care. Originality/value: This paper is one of the first to do a thorough analysis of the "subsidy tables" method for commissioning integrated social care. [ABSTRACT FROM AUTHOR]

We investigated the mediating role of financial inclusion in the relationship between financial literacy and financial well-being in Ghana. Using PLS-SEM, we found that financial inclusion indeed mediates financial literacy and financial well-being in Ghana. We also documented a positive and significant relationship between Ghanaians' financial literacy and financial well-being. Again, financial literacy has a direct positive effect on financial inclusion. Hence, to enhance the impact of financial literacy on financial well-being in Ghana, policymakers should grant financial institutions enough freedom to offer a variety of financial services; financial institutions that have lost credibility in Ghana (such as insurance companies) should be put in check to build the trust of Ghanaians in them; and the cost of using a mobile phone and internet services to access financial services in Ghana should be reduced. The management of financial institutions can utilize the freedom offered to them by policymakers to offer various financial services to the public, build trust in customers, and offer lower-cost services to help improve the financial well-being of Ghanaians. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to propose a framework for marketing to the sandwich generation (SG) shopper, an influential and growing demographic in the marketplace. Design/methodology/approach: This paper draws from research in business, sociology, health care and industry sources that have studied the SG. It proposes a marketing framework to create value for SG shoppers and their families, in multiple ways. Findings: SG members seek to meet at least four major kinds of needs across their intergenerational families: financial management, social support, health care and wellness. Businesses can help them more efficiently bridge those needs by including certain enablers in their offerings: human resource benefits to manage health and associated costs, resource allocation tools to manage financial and social support needs across different lifespans, time management tools to integrate social support needs with wellness outcomes and technology/services that help meet health and wellness needs across the family. Practical implications: Managers can attract SG members and their families to their offerings by keeping in mind three rules of thumb: help them recover their most scarce resource: time; capitalize on age-friendly adjustments in the marketplace; and innovate with universal design in mind. Originality/value: To the author's knowledge, this is the first application of existing knowledge on the SG to a marketing framework that addresses key SG customer concerns. [ABSTRACT FROM AUTHOR]