50,818 results on '"FINANCIAL planning"'
Search Results
2. Ambiguities in Per Capita Distributions: Navigating Complexities in Estate Planning and Life Insurance.
- Author
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Bisco, Jill, Gradisher, Suzanne M., and Jinjing Wang
- Subjects
LIFE insurance ,LIFE insurance policies ,FINANCIAL planning ,AMBIGUITY - Abstract
Estate planning is a multifaceted process encompassing the accumulation, management, and preservation of wealth. Among estate planning tools like wills or life insurance policies, two common options for asset distributions are per stirpes and per capita. Per stirpes distribution, which is relatively straightforward and more widely used, directs the inheritance to the lineal descendants of a predeceased beneficiary. In contrast, the per capita method has varying interpretations in estate planning, financial planning, and insurance fields. This method encompasses several options. This article delves into the ambiguities in the per capita option, particularly the lack of a standardized definition. It underscores the necessity for financial professionals to navigate these distinctions effectively, ensuring clients' objectives are met precisely and clearly in a field where precision and clarity are paramount. [ABSTRACT FROM AUTHOR]
- Published
- 2024
3. Unique Risks at the Top of a Financial Planning Pyramid.
- Author
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Pierce, David F.
- Subjects
FINANCIAL planning ,ESTATE planning ,PYRAMIDS ,FINANCIAL risk ,WEALTH management services ,TAX planning ,RETIREMENT income ,INDIVIDUAL retirement accounts - Abstract
Identifying and managing risk is as integral to financial planning as are investing, wealth management, and managing tax and legal considerations. Risk is present at every level or life stage of a financial planning pyramid. The top of most planning pyramids--when individuals focus on retirement income and legacy planning--includes a much wider, expanded, critically important, and longer- lasting range of risks than earlier planning levels. Identifying and addressing the risks individuals may encounter at the top of the planning pyramid can determine if retirement planning will be successful. [ABSTRACT FROM AUTHOR]
- Published
- 2024
4. Planning for One's Housing Future: Universal (or Livable) Design.
- Author
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Olshevski, Jodi
- Subjects
DOMESTIC architecture ,HOUSING ,PROFESSIONS ,FINANCIAL planning ,DECISION making - Abstract
In my September column ("Planning for One's Housing Future: Proactive Decision Making," Journal of Financial Service Professionals 77, no. 5 (2023): 38-41), I introduced the concept of being proactive and deliberate in planning for one's housing future, as well as the role financial services professionals can play in encouraging clients to think about housing as a key element of their financial plan. In this column, I continue with this theme, focusing on the importance of home design. [ABSTRACT FROM AUTHOR]
- Published
- 2024
5. Helping Clients Uncover Their True Cash Flow.
- Author
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Stranix, Matthew M.
- Subjects
FINANCIAL statements ,CASH flow ,FINANCIAL planners ,FINANCIAL planning ,TAX returns - Abstract
For many financial planners, cash-flow planning is financial planning. Planners must make the effort to fully understand a client's income. This may involve looking at W-2 forms, profit and loss statements, and K-1 tax forms from the client's business. In addition, the planner must identify all the expenses that the client has. We recommend several strategies for monitoring cash-flow planning. [ABSTRACT FROM AUTHOR]
- Published
- 2024
6. Knowing the Whole Truth, the Worst, and Providing for It.
- Author
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Pierce, David F.
- Subjects
FINANCIAL planning ,CONSULTANTS - Abstract
There is a good chance that many clients have neither considered nor discussed how their death and dying may affect their financial and advanced planning. Why? Because the topic is uncomfortable, and for many, something to be avoided. Should advisors think about discussing this topic with their clients? The author says yes. If so, how? This column provides insight about the why and suggestions about the how. [ABSTRACT FROM AUTHOR]
- Published
- 2023
7. Planning for One's Housing Future: Proactive Decision Making.
- Author
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Olshevski, Jodi
- Subjects
DECISION making ,HOUSING ,FINANCIAL planning ,PROFESSIONS ,FINANCIAL services industry - Abstract
As a financial services professional, you are in a unique position to encourage your clients to think about housing as a key element of their financial plan--not just in terms of the expense but also in considering how where they live can support their lifestyle and changing needs as they age. [ABSTRACT FROM AUTHOR]
- Published
- 2023
8. Advanced Planning for Long-Term Care Expenses.
- Author
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Stranix, Matthew M.
- Subjects
LONG-term health care ,LONG-term care insurance ,FINANCIAL planning ,COST ,BEST practices - Abstract
Planning for long-term care is a best practice for financial planning. In addition to long-term care insurance, there are other methods for planning. We will review these methods and let the new planner in on some nontraditional solutions for their clients. [ABSTRACT FROM AUTHOR]
- Published
- 2023
9. Finished Puzzles…with All the Pieces.
- Author
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Pierce, David
- Subjects
FINANCIAL planning ,PUZZLES ,PROFESSIONS ,FINANCIAL services industry - Abstract
The definition of a complete financial plan has been a subject of debate for some time within the industry. What constitutes a financial plan? Is there such a thing as a financial plan that does not address all elements of client financial needs, and is considered comprehensive? What do clients expect? What does a financial services professional hold themselves out to be? Financial planning can be puzzling for clients. Financial professionals are often perceived as having all the answers, all the puzzle pieces. This column discusses key issues for consideration. [ABSTRACT FROM AUTHOR]
- Published
- 2023
10. Nine Creative Innovations from the SECURE Act 2.0 of 2022.
- Author
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Tacchino, Kenn Beam
- Subjects
ORIGINALITY ,FINANCIAL planners ,FINANCIAL planning - Abstract
The SECURE Act 2.0 of 2022 law has substantially changed the financial planning landscape, and going forward it will not be business as usual for financial planners. This law has spawned several new and pioneering concepts. A brief discussion of these novel ideas is followed by examples illustrating the changes. Planners should pay close attention to the effective date for each change. Some ideas have already been enacted. Others become effective in 2024. And yet others will not become effective for several years. [ABSTRACT FROM AUTHOR]
- Published
- 2023
11. Designing user interface and user experience application of financial management and planning of BUMDes in the mandalika special economic zone using design thinking.
- Author
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Praja, Fritzie Primananda Adi, Aulia, Dila Ega, Anggraini, Sri, Julia, Hikmah, Hasbiallah, Muhammad, Orchidamoty, Orchidamoty, Afwani, Royana, Diswandi, Diswandi, and Suryani, Embun
- Subjects
- *
SPECIAL economic zones , *FINANCIAL management , *DESIGN thinking , *USER interfaces , *FINANCIAL planning - Abstract
Like business entities in general, BUMDes also records financial planning and management to maintain regular use of funds, evaluate materials for business unit development, meet loan requirements, and many other things. BUMDes, in several villages around Mandalika Special Economic Zone (SEZ) located in Central Lombok, Indonesia, has implemented financial management records using a website-based application. However, financial managers at BUMDes prefer to re-record manually. Based on a Focus Group Discussion (FGD) results in this study, BUMDes financial managers had difficulty using the existing application. Therefore, it is necessary to design a user interface (UI) and user experience (UX) application for BUMDes financial planning and management that is easy for the managers to understand and use. One method used to design UI and UX is Design Thinking. Using Design Thinking can make the user easier to understand the problems or needs and create value for potential users. Designing website-based applications using Design Thinking resulted in good usability values. Therefore, this research conducts the UI and UX to design the website-based BUMDes financial planning and management application. The results of this study are in the form of wireframes from applications that follow the needs of BUMDes financial managers. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
12. Designing a website-based BUMDes financial planning and management application in the mandalika economic special zone villages using extreme programming method.
- Author
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Aulia, Dila Ega, Afwani, Royana, Diswandi, Diswandi, Suryani, Embun, Praja, Fritzie Primananda Adi, Julia, Hikmah, Hasbiallah, Muhammad, Orchidamoty, Orchidamoty, and Anggraini, Sri
- Subjects
- *
SPECIAL economic zones , *FINANCIAL management , *FINANCIAL planning , *ACCOUNTING standards , *FINANCIAL statements - Abstract
The Mandalika Special Economic Zone (SEZ) in Lombok is one of the Indonesian national super-priority areas with a vast tourism potential that plays an essential role in the national economy. The local communities should actively participate as the main economic actors in the Mandalika SEZ. BUMDes is a form of business entity owned by the village to support the economic activities of local communities. There are several BUMDes in some villages at Mandalika SEZ. However, it has not been able to play an active role as a driver of the village economy due to its limited capabilities. BUMDes' manager must make periodic financial statements for all business units. Limited human resource capabilities cause BUMDes to compile financial reports manually and conventionally without acceptable accounting standards. Therefore, this research aims to design an information technology-based application for generating financial reports of BUMDes. This study designed a website-based BUMDes financial planning and management application using the Extreme Programming (XP) method. Prototypes of financial reporting information systems can provide periodic information about sales, cost of goods sold, and profit or loss. Other information regarding sales data that has been done is still ongoing, and the one that will be processed can also be presented. The result of this development is website planning and financial management with accounting standards. [ABSTRACT FROM AUTHOR]
- Published
- 2024
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13. Impact of personality traits on financial planning: an empirical evidence from Pakistan
- Author
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Ghaffar, Jawad Abdul, Khattak, Muhammad Sualeh, Shah, Tazeem Ali, and Jehangir, Mahad
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- 2024
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14. Data-Driven Public Budgeting: Business Management Approach and Analytics Methods Algorithmization
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Zhyber, Tetiana, Pyslytsya, Anna, Zavystovska, Hanna, Tymchenko, Olena, Shchur, Roman, Xhafa, Fatos, Series Editor, Semenov, Andriy, editor, Yepifanova, Iryna, editor, and Kajanová, Jana, editor
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- 2024
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15. Uncertainty Quantification on Financial Valuation Model
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Fan, Yunfei, Zheng, Zheng, Editor-in-Chief, Xi, Zhiyu, Associate Editor, Gong, Siqian, Series Editor, Hong, Wei-Chiang, Series Editor, Mellal, Mohamed Arezki, Series Editor, Narayanan, Ramadas, Series Editor, Nguyen, Quang Ngoc, Series Editor, Ong, Hwai Chyuan, Series Editor, Sun, Zaicheng, Series Editor, Ullah, Sharif, Series Editor, Wu, Junwei, Series Editor, Zhang, Baochang, Series Editor, Zhang, Wei, Series Editor, Zhu, Quanxin, Series Editor, Zheng, Wei, Series Editor, Rauf, Abdul, editor, Zakuan, Norhayati, editor, Sohail, Muhammad Tayyab, editor, and Azmi, Ruzita, editor
- Published
- 2024
- Full Text
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16. The Effect of Financial Literacy on Personal Financial Management
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Meti, Yonas, Silvia, Rina, Wangka, Novriani Monika, Djurubassa, Gloria Miagina Palako, Sidete, Herman, Biso, Hernansi, Raraga, Filus, Appolloni, Andrea, Series Editor, Caracciolo, Francesco, Series Editor, Ding, Zhuoqi, Series Editor, Gogas, Periklis, Series Editor, Huang, Gordon, Series Editor, Nartea, Gilbert, Series Editor, Ngo, Thanh, Series Editor, Striełkowski, Wadim, Series Editor, Murhadi, Werner Ria, editor, Anandya, Dudi, editor, Darmasetiawan, Noviaty Kresna, editor, Dyah Trisnawati, Juliani, editor, Mahadwartha, Putu Anom, editor, and Tandelilin, Elsye, editor
- Published
- 2024
- Full Text
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17. Financial literacy among management students: Insights from universities in Nepal
- Author
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Khom Raj Kharel, Yadav Mani Upadhyaya, Bisna Acharya, Dhruba Kumar Budhathoki, and Achyut Gyawali
- Subjects
attitude ,budget ,decision-making ,financial education ,financial planning ,Nepalese context ,Business ,HF5001-6182 ,Social sciences (General) ,H1-99 - Abstract
This study aims to examine the degree of financial literacy and practices of financial knowledge among MBA students in Nepal. Four prominent universities were selected for study: Tribhuvan University, Kathmandu University, Pokhara University, and Purbanchal University. The descriptive and analytical research approach was applied to analyze the data. Data were collected through questionnaires from 320 students by using convenience and stratified sampling methods. The analysis was conducted using the SPSS software system. The results highlight the complex interplay of factors influencing financial behavior and literacy among MBA students, emphasizing the importance of education, familial influence, and media exposure in shaping financial attitudes and decision-making. The study delves into several key aspects of financial behavior, influence, attitude, literacy, and knowledge sources among MBA students. Notably, respondents displayed positive financial behaviors such as reading for knowledge enhancement and prudent spending practices. Parental influence emerged as the most significant factor shaping financial decisions, followed by media and internet exposure. Respondents generally exhibited a favorable financial outlook and demonstrated understanding in various financial literacy domains, though areas for improvement, particularly in investment risk comprehension, were identified. The study shows how education, family influence, and media exposure affect MBA student’s financial think, how people handle finance, like their education and where they get information from. This is seen as reflected in financial literacy scores ranging from 1.43 to 3.86, with an average of 2.405 and a standard deviation of 0.449, suggesting below-average scores and reduced unpredictability.
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- 2024
- Full Text
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18. Thank You, Census Bureau!
- Author
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Migliaccio, John N.
- Subjects
AMERICAN Community Survey ,CENSUS ,FINANCIAL planning ,INCOME - Abstract
Taking advantage of the resources available on a regular basis from primary sources like the annual U.S. Census Bureau's American Community Survey and the Survey of Program Income and Program Participation can help both financial planning professionals and organizations work towards more responsive services for clients and an improved environmental scan of potential client financial needs and behaviors. These can provide information and insights about a variety of geographic and demographic perspectives--from the macro to the micro--to the advantage of their individual practice, business opportunities, and clients. And it's free!. [ABSTRACT FROM AUTHOR]
- Published
- 2023
19. The Temptation of Unsystematic Risk.
- Author
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Washer, Kenneth
- Subjects
TEMPTATION ,STANDARD deviations ,FINANCIAL planning - Abstract
Fundamentals can explain a lot. This column goes back to the basics to give a tried-andtrue lesson on investments. Topics covered include systematic versus unsystematic risk, the difference between financial planning and investment planning, the difference between skill versus luck, modern portfolio theory, standard deviation, and beta. [ABSTRACT FROM AUTHOR]
- Published
- 2023
20. Occupational Medicine Physicians Transition to Retirement: An International Survey of Plans, Preparation, and Interests.
- Author
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Stave, Gregg M., Burton, Wayne N., Heron, Richard J. L., Baase, Cathy, and Thirumalai, Rajgopal
- Subjects
- *
CONTINUING education units , *CROSS-sectional method , *VOLUNTEER service , *QUESTIONNAIRES , *PHYSICIANS' attitudes , *CONTINUING medical education , *DESCRIPTIVE statistics , *PART-time employment , *OCCUPATIONAL medicine , *RETIREMENT planning , *EMPLOYMENT , *AUSTRALASIANS - Abstract
Objective: The aim of the study is to understand the needs and interests of occupational medicine physicians (OMPs) as they transition to retirement. Methods: An electronic survey was distributed through member organizations in the United States (ACOEM), United Kingdom (SOM/FOM), India (IAOH), South Africa (SASOM), and Medichem. Results: Four hundred ninety-seven OMPs at various career stages responded, including 282 from the United States, 97 from the United Kingdom, 36 from India, 30 from South Africa, and 52 from other countries. Two hundred seventy-eight work full-time, 160 part-time, and 58 are not doing paid work. Approximately 60% serve as volunteers. Sixty percent have a written financial plan. Thirty-five percent are very comfortable with their retirement plans. After leaving full-time work, 85% plan to work part-time. There is a high level of interest in learning about opportunities for part-time work and volunteering. Conclusions: Occupational medicine physicians are very interested in learning more about compensated and uncompensated work in retirement. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
21. Improved delivery of social benefits through the maintenance planning of public assets.
- Author
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Salasa, Jorge and Yepes, Víctor
- Subjects
- *
SUSTAINABLE urban development , *URBAN planning , *INFRASTRUCTURE (Economics) , *PUBLIC spaces - Abstract
The prioritisation of public facilities' maintenance is a necessary but complex task due to the need of considering both physical and socio-economic criteria. This study addresses this problem by quantifying the improvement in the delivery of social benefits that the corrective maintenance of an urban area's public facilities could yield. Based on this, a decision framework is proposed to design and schedule corrective maintenance plans at a municipal scale. The methodology integrates multi-criteria assessment with an analytical method for evaluating the contribution of an area's public facilities to its sustainable urban development based on their type of social infrastructure and their maintenance condition. The decision framework is implemented as a software to facilitate its application to a case study, consisting in building urban regeneration strategies aligned with governmental guidelines. The results revealed that decision-making is more efficient when considering the facilities' type of social infrastructure. In addition, a cost-efficient prioritisation of corrective measures yields better results than neglecting the economy. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
22. Intergenerational Assistance with Home Ownership: Understanding the Relational Development of Financialized Subjectivities.
- Author
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Cook, Julia and Overton, Louise
- Subjects
- *
HOME ownership , *REAL estate sales , *HOUSING market , *YOUNG adults , *SUBJECTIVITY , *FINANCIAL planning , *HOME environment - Abstract
Recently scholars have turned their attention to the role of intergenerational financial assistance in facilitating entry into home ownership for young adults. This practice has been identified as a means through which intergenerational inequalities may be translated into intragenerational inequalities. However, the question of what this form of financial dependence on family means for both young adults and their parents has received less attention. This article reports on the findings of a study conducted with 15 related donor-recipient pairs (30 in-depth interviews in total) in the UK in 2019. Drawing on these findings, we show that the provision and receipt of intergenerational financial assistance does not simply reflect family practices, but instead plays an active part in developing and conveying them. We ultimately contend that the practice of giving and receiving financial transfers shapes individuals' broader orientations to the property market, and to financial decision-making and planning. [ABSTRACT FROM AUTHOR]
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- 2024
- Full Text
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23. Optimized Financial Planning: Integrating Individual and Cooperative Budgeting Models with LLM Recommendations.
- Author
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de Zarzà, I., de Curtò, J., Roig, Gemma, and Calafate, Carlos T.
- Subjects
- *
FINANCIAL planning , *BUDGET , *LANGUAGE models , *FINANCIAL management , *INCOME - Abstract
In today's complex economic environment, individuals and households alike grapple with the challenge of financial planning. This paper introduces novel methodologies for both individual and cooperative (household) financial budgeting. We firstly propose an optimization framework for individual budget allocation, aiming to maximize savings by efficiently distributing monthly income among various expense categories. We then extend this model to households, wherein the complexity of handling multiple incomes and shared expenses is addressed. The cooperative model prioritizes not only maximized savings but also the preferences and needs of each member, fostering a harmonious financial environment, whether they are short-term needs or long-term aspirations. A notable innovation in our approach is the integration of recommendations from a large language model (LLM). Given its vast training data and potent inferential capabilities, the LLM provides initial feasible solutions to our optimization problems, acting as a guiding beacon for individuals and households unfamiliar with the nuances of financial planning. Our preliminary results indicate that the LLM-recommended solutions result in budget plans that are both economically sound, meaning that they are consistent with established financial management principles and promote fiscal resilience and stability, and aligned with the financial goals and preferences of the concerned parties. This integration of AI-driven recommendations with econometric models, as an instantiation of an extended coevolutionary (EC) theory, paves the way for a new era in financial planning, making it more accessible and effective for a wider audience, as we propose an example of a new theory in economics where human behavior can be greatly influenced by AI agents. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
24. Analysis of the Ratio of Growth, Effectiveness and Budget Efficiency at the Ministry of Religious Affairs of the Republic of Indonesia in 2017 - 2022.
- Author
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Karnawan, Romidi, Siswanto, Agus, Digdowiseiso, Kumba, and Ugania, Wahyu
- Subjects
- *
FINANCIAL performance , *FINANCIAL planning , *PUBLIC sector , *CASH flow - Abstract
A budget is a written plan regarding the activities of an organization which is expressed quantitatively for a certain period or period and is generally expressed in units of money. The Ministry of Religion of the Republic of Indonesia is one of the ministries that has authority over the State revenue and expenditure budget. The Ministry of Religion is ranked 2nd with the largest APBN ceiling after the Police of the Republic of Indonesia. The ratios for assessing financial performance in the Ministry of Religion used in this research include: Growth Ratio, Effectiveness and Efficiency Ratio. This research aims to analyze the level of Growth, Effectiveness and Efficiency Ratios during the 2017-2022 period to see the financial performance of the Ministry of Religion of the Republic of Indonesia. In writing this journal, a quantitative descriptive analysis method was used. The results of this research show that the financial performance of the Ministry of Religion using the Growth Ratio or the Ministry of Religion's budget growth ratio is around 4.39% every year. The Ministry of Religion's budget effectiveness ratio is relatively high at an average level of 112%, which means that budget realization is able to exceed the set targets. The highest achievement of 121% was recorded in 2017. The Ministry of Religion's budget efficiency ratio for 2017-2022 is at an average of 0.97%, which is very efficient considering the nature of the public sector budget, the smaller the efficiency ratio, the better the government's performance. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
25. Factors Associated with Couples Pooling their Finances.
- Author
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Kruger, Michelle, Grable, John E., Palmer, Lance, and Goetz, Joseph
- Subjects
- *
FAMILY psychotherapy , *MARRIAGE , *SPOUSES , *SOCIOECONOMIC factors , *INCOME , *DECISION making , *DESCRIPTIVE statistics , *FINANCIAL management , *MARITAL status , *EDUCATIONAL attainment - Abstract
The purpose of this study was to document factors associated with a couple's decision to manage finances entirely jointly (i.e., pooled), somewhat jointly, or separately. Based on survey data from 636 married or cohabitating respondents, test results showed that married and less well-educated individuals are more likely to pool finances with their partners. Additionally, it was determined that the odds of partners pooling finances increase as the size of a household increases and when the household exhibits a positive net worth. In this study, households with two income earners were approximately 50% less likely to pool their finances compared to households with one income earner. It was further determined that those who reported agreeing on issues related to spending were more than twice as likely to pool their finances as compared to those who did not agree with their partner on issues related to spending. The findings from this study advance the marriage and family therapy literature by showing that financial integration style and financial decision-making responsibilities are separate constructs and should not be used as proxies for one another. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
26. Upgrading financial education by adding Python‐based personalized financial projection: A randomized control trial.
- Author
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Zhu, Alex Yue Feng
- Subjects
- *
PERSONAL finance , *TIME perspective , *FINANCIAL literacy , *EDUCATIONAL finance , *FINANCIAL planning - Abstract
Research has shown that even though standardized financial education has gained prevalence to promote financial literacy over the past decade, it has had little effect on personal financial planning. The present study used a randomized control trial to examine the effectiveness of a Python‐based personalized financial projection on young working adults in Hong Kong, to examine if and how this approach improves their financial planning. Participants assigned to the experiment group received standardized financial education and Python‐based financial projections, while those in the control group only received standardized financial education. The assessment based on the two‐wave data showed that Python‐based financial projection promoted future time perspectives, reduced temporal discounting, and improved financial planning via the full mediation of promoting financial attitudes. Although numerous applications for personal financial planning exist (such as Wallet, Walnut, Monefy, and Money View), our Python‐based financial projection stands out as the pioneering solution tailored for the hands‐on manipulation of programming code to effectively manage personal finances. Our findings suggest a new track to upgrade personalized financial projection and standardized financial education and contribute generously to the development of personal finance education. Practitioner notesWhat is already known about this topic Standardized financial education promotes objective financial knowledge.Standardized financial education has a limited effect on personal financial planning.Classical personalized financial projection promotes personal financial planning, but the effect is small.What this paper adds Introduction of a novel Python‐based personalized financial projection by manipulating projection code.The evidence that Python‐based personalized financial projection more strongly improves personal financial planning, compared to the classical personalized financial projection.The evidence why Python‐based personalized financial projection can improve personal financial planning.Implications for practice and/or policy Facilitating engagement of young working adults with personalized finance planning through the use of a Python‐based intervention.Integrating Python‐based personalized financial projection into standardized financial education in the school setting.Using Python as the platform to design more topic‐specific financial education module. [ABSTRACT FROM AUTHOR]
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- 2024
- Full Text
- View/download PDF
27. New Mean and Median Techniques to Solve Multiobjective Linear Fractional Programming Problem and Comparison with Other Techniques.
- Author
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Fentaw, Getaye and Akate, Adane
- Subjects
LINEAR programming ,FRACTIONAL programming ,SIMPLEX algorithm ,RESOURCE allocation ,FINANCIAL planning ,PROBLEM solving - Abstract
In the field of operation research, both linear and fractional programming problems have been more encountered in recent years because they are more realistic in expressing real-life problems. Fractional programming problem is used when several rates need to be optimized simultaneously such as resource allocation planning, financial and corporate planning, healthcare, and hospital planning. There are several techniques to solve the multiobjective linear fractional programming problem. However, because of the use of scalarization, these techniques have some limitations. This paper proposed two new mean and median techniques to solve the multiobjective linear fractional programming problem by overcoming the limitations. After utilizing mean and median techniques, the problem is converted into an equivalent linear fractional programming problem; then, the linear fractional programming problem is transformed into linear programming problem and solved by the conventional simplex method or mathematical software. Some numerical examples have been illustrated to show the efficiency of the proposed techniques and algorithm. The performance of these solutions was evaluated by comparing their results with other existing methods. The numerical results have shown that the proposed techniques are better than other techniques. Furthermore, the proposed techniques solve a pure multiobjective maximization problem, which is even impossible with some existing techniques. The present investigation can be improved further, which is left for future research. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
28. CARACTERÍSTICAS DO ENDIVIDAMENTO NO CARTÃO DE CRÉDITO DOS ESTUDANTES DA UNIVERSIDADE ESTADUAL DE MARINGÁ.
- Author
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Garcia Motta, Vitor, de Souza da Silva, Marcos Vinicius, Vitor Garcia, João, and Lima Couto, Ana Cristina
- Published
- 2024
- Full Text
- View/download PDF
29. Occupation and Financial Preparation for Retirement: Does Being a Public Servant Make a Difference?
- Author
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Vieira, Kelmara Mendes, Matheis, Taiane Keila, Rosenblum, Tamara Otilia Amaral, and Potrich, Ani Caroline Grigion
- Subjects
CIVIL service ,BABY boom generation ,RETIREMENT ,GOVERNMENT policy ,FINANCIAL planning ,FINANCIAL literacy - Abstract
This study tests the hypothesis that public servants have higher levels of financial preparation for retirement compared to other occupations. Also, it identifies whether the model is invariant. The results indicate that public servants have better future expectations, financial planning, and savings behavior than other occupations. The level of financial preparation for retirement is low in all occupations. The construction of public policies that consider both the need to increase levels of planning and inequalities is essential for greater financial well-being in retirement. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
30. FINANCIAL PLANNING AND DECISION MAKING AS PREDICTORS OF FINANCIAL PERFORMANCE IN MSMES.
- Author
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Dolores Ruiz, Erika, Salazar Gómez, Julio Fernando, and Valdivia Rivera, María de Jesús
- Subjects
FINANCIAL performance ,FINANCIAL planning ,DECISION making ,FINANCIAL risk ,SMALL business ,BUSINESSPEOPLE ,LITERACY - Published
- 2024
- Full Text
- View/download PDF
31. A Review of Government Venture Capital in China: History, Drawbacks and Remedies.
- Author
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Sun, Chongqi and Tian, Geran
- Subjects
CHINESE history ,VENTURE capital ,FINANCIAL planning ,EMERGING markets - Abstract
The past 40 years have witnessed the growth of government venture capital (GVC) in China. This work reviews the brief history of GVC in China, as an example of emerging markets, and puts forward several major drawbacks. First, it is unclear which bureau is exactly responsible for GVC, resulting in redundant, sometimes conflicting regulations. Second, a lack of integrated financial planning leads to a mismatch between the situation of local enterprises and actual investments. Moreover, due to the lack of a market‐oriented management system, GVC fund managers are not fully motivated. We propose corresponding remedies and discuss the implications. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
32. Why do wealth advisors stay or leave their firms?
- Author
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Mattia, Mark J., Mattia, Laura, and Timmerman, Inga
- Subjects
FINANCIAL planners ,MOTIVATION (Psychology) ,SELF-determination theory ,STRUCTURAL equation modeling ,FINANCIAL planning ,FINANCIAL planning industry ,PROFESSIONS ,EMPLOYEE motivation ,FINANCIAL services industry - Abstract
We study the determinants associated with wealth advisors' consideration to leave or say at financial planning firms. Utilizing self‐determination theory as the foundational theoretical framework and focusing on the psychological aspect of the decision, we develop a structural equation model that defines the factors relating to work satisfaction, affective work commitment, and turnover intention in the wealth management profession. We provide evidence for the roles played by autonomous motivation, reward, and punishment in determining job retention and affective work commitment among wealth advisors in the United States. By showing the importance of autonomous motivation on retention, we are offering the wealth management industry one extra tool to influence employee retention. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
33. Exploring the Role of Financial Socialization on Financial Planning Students' Financial and Career Confidence: A Thematic Analysis.
- Author
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Watkins, Kimberly, McCoy, Megan, White, Kenneth, Reiter, Miranda, and Liu, Yingyi
- Subjects
FINANCIAL planning ,THEMATIC analysis ,STUDENT financial aid ,SOCIALIZATION ,FINANCIAL planners ,INVESTMENT advisors ,EXPERIENTIAL learning - Abstract
In 2021, the Certified Financial Planner (CFP) Board expanded its Principal Knowledge Topics to include the domain Psychology of Financial Planning. This inclusion serves as an impetus for CFP Board Registered Programs to provide opportunities for students to explore their own attitudes and biases about money. However, little is written on how programs can aid students in this process of self-exploration. This paper introduces an experiential exercise to aid financial planning students in self-exploration. Using a thematic analysis, several themes emerged: (1) diversity in parental financial socialization, (2) anxiety about personal finances, and (3) use of technical knowledge to help loved ones. Additionally, women reported more traumatic money experiences, and men reported higher levels of career confidence. Implications can provide insights on how educational programs can aid financial planning students' understanding of their own money beliefs to better serve future clients in the client psychology competency areas. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
34. Consumer financial planning in the post‐Covid‐19 era: The role of emotional and economic vulnerability.
- Author
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Allanjawi, Khulood M., Yazdanparast, Atefeh, and Alhenawi, Yasser
- Subjects
FINANCIAL planning ,COVID-19 pandemic ,PERSONALITY ,CONSUMERS ,HOUSEHOLD surveys - Abstract
The present research examines the relationship between emotional vulnerability, economic vulnerability, and intentions to improve financial planning for American households in the post‐Covid‐19 era. Using a survey of 504 household financial decision markers, we show that the effects of psychological fears and concerns experienced during the pandemic (i.e., emotional vulnerability) on post‐pandemic household financial planning intentions are mediated by their perceived economic vulnerability. Specifically, for those who experience higher levels of emotional vulnerability, economic vulnerabilities are perceived to be harsher, further motivating them to raise their financial preparedness. Moreover, we identify an individual factor, personality trait of conscientiousness, as a boundary condition affecting this relationship. Specifically, individuals who are more conscientious tend to be more willing to learn from harsh pandemic experiences and are more willing to adapt in the long run. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
35. A proposition to implement inclusive Islamic financial planning in Indonesia through bibliometric analysis
- Author
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Sevriana, Lufthia, Febrian, Erie, Anwar, Mokhamad, and Ahmad Faisal, Yudi
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- 2024
- Full Text
- View/download PDF
36. Financial planning propensity in working adults: exploring the role of media
- Author
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Godase, Radnyi, P, Jyothi, and Supriya, M. Lalitha
- Published
- 2024
- Full Text
- View/download PDF
37. Studiu privind factorii care modelează comportamentul financiar al studenților
- Author
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Ioana Claudia Pogăciaș and Bogdan Andrei Moldovan
- Subjects
financial behavior ,education ,financial planning ,investment ,budget planning ,financial management. ,Law ,Political science ,Political institutions and public administration (General) ,JF20-2112 - Abstract
The research aims to study the financial behavior of students from the Babeș-Bolyai University in the municipality of Cluj-Napoca and the factors that, according to the literature, are contributors to its formation and positive modeling. Several factors were studied using a quantitative paradigm: family financial socialization, the level of financial self-control, and exposure to financial education. The overall picture of the financial behavior of the students who took part in the research (Babeș-Bolyai University students filling a self-administered questionnaire) illustrates a relatively healthy financial behavior.
- Published
- 2023
38. Optimized Financial Planning: Integrating Individual and Cooperative Budgeting Models with LLM Recommendations
- Author
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I. de Zarzà, J. de Curtò, Gemma Roig, and Carlos T. Calafate
- Subjects
financial planning ,household finance ,LLMs ,budgeting ,extended coevolutionary ,Electronic computers. Computer science ,QA75.5-76.95 - Abstract
In today’s complex economic environment, individuals and households alike grapple with the challenge of financial planning. This paper introduces novel methodologies for both individual and cooperative (household) financial budgeting. We firstly propose an optimization framework for individual budget allocation, aiming to maximize savings by efficiently distributing monthly income among various expense categories. We then extend this model to households, wherein the complexity of handling multiple incomes and shared expenses is addressed. The cooperative model prioritizes not only maximized savings but also the preferences and needs of each member, fostering a harmonious financial environment, whether they are short-term needs or long-term aspirations. A notable innovation in our approach is the integration of recommendations from a large language model (LLM). Given its vast training data and potent inferential capabilities, the LLM provides initial feasible solutions to our optimization problems, acting as a guiding beacon for individuals and households unfamiliar with the nuances of financial planning. Our preliminary results indicate that the LLM-recommended solutions result in budget plans that are both economically sound, meaning that they are consistent with established financial management principles and promote fiscal resilience and stability, and aligned with the financial goals and preferences of the concerned parties. This integration of AI-driven recommendations with econometric models, as an instantiation of an extended coevolutionary (EC) theory, paves the way for a new era in financial planning, making it more accessible and effective for a wider audience, as we propose an example of a new theory in economics where human behavior can be greatly influenced by AI agents.
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- 2023
- Full Text
- View/download PDF
39. Strategic financial planning in tourist companies of the Republic of Belarus
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O.G. Rudkovskaya, Yu.A. Shauruk, G.A. Barysheva, and O.P. Nedospasova
- Subjects
external factors ,tourism ,financial planning ,financial strategy ,organization ,Social sciences (General) ,H1-99 - Abstract
Relevance. The article discusses the theoretical foundations of strategic financial planning. Aim. To reveal the features of influence of external factors on development of alternatives to the enterprise sustainable development strategy. Methods: STEEM method for analysing the influence of environmental factors on the activities of tourism organizations in the Republic of Belarus. Expert researchers in this field of knowledge from the Belarusian State Economic University took part in assigning weighting coefficients. Results. The authors have proposed an algorithm for determining the financial goals and objectives of strategic development of tourism industry organizations, compiling the functional dependence of one of the options for a financial strategy for a tourism organization development. They structured financial goals and objectives of the strategic development of a tourism organization in accordance with its stage of the life cycle and competitive position in the industry. Building an organization financial strategy allows us to take into account the influence of macroeconomic factors when developing its alternative models, the diversity of the company financial relations, and identify patterns of interaction with the external environment. The importance of taking into account changes in the social structure of society caused by an increase in average age of consumers in the tourism business is noted.
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- 2023
- Full Text
- View/download PDF
40. Pengaruh Financial Planning dan Managing Liability terhadap Financial Inclusion (Studi Kasus Shopee PayLater)
- Author
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Ela Elliyana, Nurhaedah Nurhaedah, Fahri Eka Oktora, and Dony Oktariswan
- Subjects
financial planning ,financial inclusion ,managing liability ,buy now paylater ,Islam ,BP1-253 ,Economics as a science ,HB71-74 ,Banking ,HG1501-3550 - Abstract
The purpose of this study was to determine the effect of Financial planning and Managing liability on financial inclusion case study on active shopee paylater users in Indonesia. The research was conducted in Indonesia, the research period was July-September 2023. The research population is active shopee paylater users in Indonesia whose exact number cannot be known. This study used Non-probability Purposive Sampling technique and for a sample of 116 respondents, but less than 100 complete questionnaires were considered usable. The results showed that financial planning and managing liability affect financial inclusion access to shopee paylater financing, including through ease of administration and ease of use. Shopee PayLater is accessible to a wide range of users, including those in underserved or remote areas, and makes it available to individuals who may not have had access to similar financial services before. Keywords: Financial Planning; Financial Inclusion; Managing Liability; Buy Now PayLater Abstrak Tujuan dari penelitian ini adalah untuk mengetahui pengaruh Financial planning dan Managing liability terhadap financial inclusion study kasus pada pengguna aktif shopee paylater di Indonesia. Penelitian dilakukan di Indonesia, periode penelitian Juli - September 2023. Populasi penelitian adalah pengguna aktif shopee payLater di Indonesia yang tidak dapat diketahui jumlah pastinya. Penelitian ini menggunakan teknik Non-probability Purposive Sampling dan untuk sampel sebanyak 116 responden, namun kurang dari 100 kuesioner yang lengkap dianggap dapat digunakan. Hasil penelitian menunjukkan bahwa financial planning dan managing liability berpengaruh terhadap financial inclusion akses ke pembiayaan shopee paylater, diantaranya melalui kemudahan administrasi dan kemudahan penggunaan. Shopee PayLater dapat diakses oleh pengguna yang luas, termasuk mereka yang berada di daerah yang kurang terlayani atau terpencil, dan membuatnya tersedia untuk individu yang mungkin tidak memiliki akses ke layanan keuangan yang sejenis sebelumnya.
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- 2023
- Full Text
- View/download PDF
41. EXIT STRATEGIES: PERSONAL VISION AND FINANCIAL PLANNING: THE MOST CRITICAL FIRST STEP IN AN EXIT OR TRANSITION PLAN IS TO DEVELOP A FINANCIAL PLAN AND PERSONAL VISION OF WHAT YOUR LIFE WILL LOOK LIKE POST-BUSINESS
- Author
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Di Francesco, Matt
- Subjects
Financial planning ,Personal finance ,Automobile repair shops ,Automobile industry - Abstract
Jerry was a 63-year-old auto body shop owner who contacted me regarding putting together an exit strategy. Like most shop owners, he had become tired of the day-to-day grind of [...]
- Published
- 2024
42. Unanticipated Consequences of Taxable Income Increases: Lessons for Retirees.
- Author
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Livingstone, Jane R.
- Subjects
MEDICARE Part B ,INCOME tax ,GROSS income ,TAX planning ,RETIREES ,FINANCIAL planning ,FINANCIAL planners - Abstract
Understanding the role of adjusted gross income (AGI) in computing taxable income is crucial to providing good tax and financial planning, especially for retirees. Not every financial planner will be a tax expert but understanding some of the interactions between income items and what type of taxes and costs might be incurred as the result of a transaction is essential. For example, because of a bright-line cutoff, just one additional dollar of modified AGI (MAGI) can trigger an additional $4,351.20 in Medicare Part B premiums. This article reviews the federal income tax formula and discusses some specific income items, including how changes in one item affect other items. It provides examples of some of the additional taxes and costs that can be incurred. [ABSTRACT FROM AUTHOR]
- Published
- 2023
43. Overview of the Role of Selected Consumer Protection Bodies in the Regulation of Prices and Access to Redress Under the Consumer Protection Act 68 of 2008
- Author
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Howard Chitimira and Phemelo Magau
- Subjects
financial education ,financial consumers ,financial planning ,regulatory bodies ,low-income earners ,role-players ,Law ,Law in general. Comparative and uniform law. Jurisprudence ,K1-7720 - Abstract
The Consumer Protection Act 68 of 2008 (CPA) seeks to promote the achievement and maintenance of a fair, accessible, efficient, sustainable and responsible market place for consumer products and services in South Africa. Moreover, the CPA seeks to provide for an accessible, consistent, harmonised, effective and efficient system of redress for consumers. Notably, the CPA provides that the supplier should not supply or enter into an agreement to supply any goods or services at a price that is unfair, unreasonable, or unjust. This is generally aimed at combating any problems that are suffered by consumers when accessing goods and services in South Africa. Accordingly, various regulatory bodies and related role-players were established to enforce consumer rights and provide redress mechanisms to vulnerable and affected consumers. These consumer protection bodies and related role-players include the National Consumer Commission (NCC), the National Consumer Tribunal (NCT), provincial consumer courts, ordinary courts and other alternative dispute resolution agencies. These bodies and role-players are statutority obliged to resolve consumer disputes in South Africa. However, there are some uncertainty challenges regarding the jurisdiction of ordinary courts and consumer protection regulatory bodies in relation to disputes that relate to the consumers’ right to fair, just and reasonable price, terms and conditions of goods and services. This article discusses the role of the NCC, the NCT, provincial consumer courts, ordinary courts and other alternative dispute resolution agencies in the regulation of the price for goods, services and access to redress for affected consumers under the CPA. This is done to provide some recommendations that could resolve jurisdictional and regulatory challenges in relation to the price and access to goods and services under the CPA.
- Published
- 2024
44. THE EFFECT OF CONTRIBUTED CAPITAL MIX ON DIVIDEND POLICY: TESTING LIFE CYCLE THEORY IN THE COVID-19 PANDEMIC ERA.
- Author
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Prayanthi, Ika, Rantung, Danny Ivan, and Oroh, Nouke Sysca
- Subjects
COVID-19 pandemic ,DIVIDEND policy ,HUMAN life cycle ,FINANCIAL planning ,CONSUMERS - Abstract
Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)
- Published
- 2024
- Full Text
- View/download PDF
45. Inviting students to talk the talk: developing employability skills in accounting education through industry-led experiences.
- Author
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Twyford, Erin and Dean, Bonnie Amelia
- Subjects
ACCOUNTING education ,ACCOUNTING students ,INTEGRATED learning systems ,FINANCIAL planning - Abstract
Universities are increasingly focused on preparing graduates with strong disciplinary and interdisciplinary skills to increase student employability. In accounting education however, the development of employability skills remains a concern among graduates and employers. One strategy for enhancing employability is to engage students in industry-based experiences through work-integrated learning (WIL). This paper introduces a novel, industry-led WIL experience embedded in an Australian university's accounting and financial planning curriculum and investigates students' perceptions of employability skills developed through this intervention. In this WIL experience, industry professionals workshopped multidisciplinary skills and provided feedback to students following a simulated work-based scenario. Data was analysed from student surveys and reflections and showed that students perceived this approach as effective for developing employability skills such as teamwork and communication and for aligning theory to praxis. This paper supports endorsing alternative WIL models and industry collaborations in accounting education to enhance graduate employability skills. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
46. Industrial R&D Project Portfolio Selection Method Using A Multi-Objective Optimization Program: A Conceptual Quantitative Framework.
- Author
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Kjærgaard-Nielsen, Mads, Ø. Jacobsen, Anders M. S., Lykke-Carstensen, Jeppe, Toft-Nielsen, Mathilde, and Tambo, Torben
- Subjects
- *
RESEARCH & development projects , *BUSINESS planning , *FINANCIAL planning , *STAKEHOLDER analysis , *BUDGET - Abstract
Purpose: Industrial R&D Project Portfolio Selection Method using a Multi-Objective Optimization Program -- a Conceptual Quantitative Framework. Design/methodology/approach: Research and development (R&D) activities are crucial if companies are to adapt to technology changes, but budget constraints and limited resources often force companies to select a subset of candidate projects through portfolio selection methods. However, existing models for R&D portfolio selection do not adequately consider interdependencies and types of projects, and this can lead to suboptimal selection and misalignment with corporate objectives. Findings: A Multi-Objective Optimisation Program (MOOP) is suggested transcending from classic manpower, time, and financial planning into addition of strategic, skills and commercial objectives. A Pareto front is used as validation mechanism. Research limitations/implications: Project selection processes are widened with select and critical quantitative positions. Potentials remain in areas of team capability, corporate capabilities, deeper skill understanding, and stakeholder engagement. Practical implications: A quantitative validation is often overlooked in PPM project selection over more qualitative or idiosyncratic selection methods. Originality/value: A quantitative validation is often overlooked in PPM project selection over more qualitative or idiosyncratic selection methods. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
47. The Retirement Consumption Puzzle: A Mental Accounting Explanation.
- Author
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Pearson, Blain, Korankye, Thomas, and Qing, Di
- Subjects
- *
RETIREMENT , *BEHAVIORAL economics , *DEVELOPMENTAL psychology , *EQUITY (Real property) , *LIQUID assets , *HOME equity loans , *RETIREMENT income - Abstract
Recent developments in cognitive psychology and behavioral economics may explain the lower-than-predicted asset decumulation behavior posited by traditional life-cycle models during retirement, dubbed the retirement consumption puzzle. This study examines if mental accounting could be used to explain the retirement consumption puzzle. Utilizing panel data collected from the 1992–2018 Health and Retirement Studies, retiree age and age squared are examined using fractional polynomials and fixed effects regressions for their associations with varying categorical retiree asset decumulation patterns, including retiree wealth, nonhousing wealth, stocks, retirement accounts, bonds, liquid assets, vehicles, primary residence, and home equity. The results suggest that varying asset decumulation behaviors exist among retirees, which could be explained by retirees' discretionary spending propensities. The discussion highlights the importance of understanding retiree behavioral spending constraints to allow for smooth consumption paths. [ABSTRACT FROM AUTHOR]
- Published
- 2024
- Full Text
- View/download PDF
48. THE EFFECT ANALYSIS OF RELIGIOSITY, FINANCIAL LITERACY, AND ISLAMIC FINANCIAL PLANNING ON THE PERFORMANCE OF SMEs.
- Author
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Putri, Rilia, Mulyana, Rahmat, and Hilmiyah, Nurul
- Subjects
- *
FINANCIAL literacy , *FINANCIAL planning , *FINANCIAL performance , *SMALL business , *RELIGIOUSNESS , *STRUCTURAL equation modeling - Abstract
SMEs (Small and Medium Enterprises) serve as the backbone of the Indonesian economy, in a country with the world's largest Muslim population. Therefore, further analysis is needed regarding the factors influencing the performance of SMEs in an effort to maximize the country's revenue. This research aims to examine the relationship between religiosity, financial literacy, and Islamic financial planning on the performance of Micro, Small, and Medium Enterprises (MSMEs) in the Greater Jakarta area (Jabodetabek). This study employs a quantitative approach using the Structural Equation Model Partial Least Square (SEM-PLS) with primary data collected through an online purposive sampling technique from 113 MSMEs in Jabodetabek. The performance of MSMEs is significantly influenced by religiosity, Sharia financial literacy, and Islamic financial planning. Religiosity has a significant impact on Sharia financial literacy and Islamic financial planning. Sharia financial literacy affects Islamic financial planning significantly. [ABSTRACT FROM AUTHOR]
- Published
- 2024
49. The Insurance Company as a Logical Party to an ERISA Claim for Benefits.
- Author
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Schneider, Paul J.
- Subjects
INSURANCE companies ,EMPLOYEE Retirement Income Security Act of 1974 ,CONFLICT of laws ,INDIVIDUAL retirement accounts ,FINANCIAL planning - Abstract
Identifying whether an insurance company is a proper party defendant in a claim for benefits under ERISA has for many years presented a surprisingly difficult question. Left to struggle with the issue, the federal courts developed a somewhat complex body of conflicting law on the issue. [ABSTRACT FROM AUTHOR]
- Published
- 2022
50. Perceptions of Financial Advisors Regarding Factors That Affect the Development of Planning and Client Communication Techniques in Practice.
- Author
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Cummings, Benjamin F. and Chaffin, Charles R.
- Subjects
INVESTMENT advisors ,PROFESSIONAL-client communication ,FINANCIAL planners ,COMMUNICATION planning ,FINANCIAL planning ,EDUCATIONAL planning ,COUNSELING in higher education - Abstract
Like many professions, financial advisors develop their planning and communication techniques in education and practice. This article seeks to provide insight about the development of financial advisors early in their career. Four beginning financial advisors were interviewed and factors that they consider as being influential to their ability to develop and communicate client recommendations were identified. Triangulation was achieved through interviews with supervisors of the financial advisors and through a focus group of the financial advisors. Participants identified the influential role of mentorship and reflective practice, especially through instructional modeling and collaborative practices. These factors that impact the development of new financial advisors can be replicated in financial planning educational programs and in orientation programs within financial planning firms. [ABSTRACT FROM AUTHOR]
- Published
- 2022
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