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FACTORS AND BEHAVIORS THAT INFLUENCE FINANCIAL LITERACY IN U.S. HOUSEHOLDSKehiaian, Scott E. 19 June 2012 (has links)
Financial planning has often been thought of as the most useful financial resource for the average American family. Prior to the Great Recession of 2008, research on factors that influence financial literacy has been scarce in academic journals. Very few resources are available to help guide household finance. The purpose of this dissertation was to determine factors that influenced financial literacy in U.S. households. Using existing financial literacy quiz questions, a personal financial literacy quiz was given to a sample of Debtors and Non-debtors in the Middle District of North Carolina. An average quiz score was developed for each participant, and was used as the dependent variable for the study. Various survey questions were used to develop 149 independent variables broken up into demographic factors, psychological factors, and financial behaviors for the same participant. Regression analyses were used to determine which of the 149 independent variables were significantly related to financial literacy. Factor analysis was also used to determined factors of financial literacy. The study found 125 significant factors of financial literacy in 16 different categories including: demographic factors, psychological factors, financial actions, financial attitudes, planning actions, mortgage decisions, budgeting habits, goal planning, retirement planning, credit management, income planning, insurance planning, mortgage debt ratios, savings planning, investment planning, and financial self-control. Future studies can expand the sample size to include all 50 states, and to help determine which factors of financial literacy should be used in building a personal financial planning model that all professionals and families can use to maximize personal financial success.
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A Case Study of Blue-Collar Worker Retirement Investment DecisionsGriffin, Mark Eldridge 01 January 2015 (has links)
The finances of blue-collar workers were the most acutely impacted as these workers lost their jobs during the Great Recession of 2007 through 2009. The literature revealed a minimal understanding of how blue-collar workers allocated funds for their retirement, and what their investments might be when they invested. To address this problem, the current qualitative study addressed (a) how blue-collar workers chose to invest or not invest for retirement and (b) how blue-collar workers diversified their portfolio if they chose to invest. Theoretical foundations of the study were based on regret theory and prospect theory. A nonrandom purposeful sample of 10 blue-collar worker participants answered 19 open-ended questions. Data from these questions were analyzed inductively. Findings revealed that, as participants reached the age of 30, they started to consider investing for their retirement. Participants under the age of 30 were not as likely to invest. Only one person over the age of 30 did not invest for retirement. The factors that contributed to these blue-collar workers' investment decisions for retirement were based on an employer-provided retirement accounts, the fear of running out of money later in life during retirement, and the addition of new family members. One of the most popular retirement investment products for the participant group, which included mechanics, laborers, and material movers, was the U.S. Treasury Bonds. Other popular investments were mutual funds, 401(k)s, and IRAs. These findings may inform researchers who are conducting a study on the investment decisions of blue-collar workers. The findings can also be beneficial for other blue-collar workers by showing them that other blue-collar workers do invest, and by revealing their rationales in doing so.
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Three Essays on the Analysis of Firms' Behaviors Under Staggered Treatment AdoptionSedaghatkish, Nazanin 03 August 2023 (has links)
This dissertation consists of three essays on firms' behaviors under staggered treatment adoption. The first essay draws information from a micro-lender and a credit bureau to identify the causal effects of small loans on the financial health of a group of small U.S.
business owners. To achieve this, we exploit temporal variations in the loan disbursements and use an estimation strategy that controls for potential biases due to treatment effect heterogeneity. The results suggest that even small loans are effective in generating lasting positive impacts on widely accepted financial health indicators, such as Vantage Score (Credit Score), Debt-to-Income Ratio, and Credit Utilization Ratio. We obtain similar robust results for subprime and startup borrowers, who are known to face difficulties in securing credit.
The second essay combines unionization data from the National Labor Relations Board and financial data from Compustat to examine the causal effects of unionization on the financing decisions of publicly traded firms in the United States. In this essay, I exploit temporal variations in the election date of unionization across firms and use a dynamic difference-in- difference estimation strategy to identify the effects of unionization on a range of financial indicators, including the Debt-to-Equity ratio, market leverage, book leverage, long-term book leverage, net leverage and cash to asset ratio. I find that unionization negatively affect firms' financing decisions. For example, after unionization, firms rely less on leverage to raise capital. At the same time, unionization offers incentive to firms to hold more cash in hand.
My analysis also suggests that the effects of unionization vary according to the political and institutional structure of the states in which firms operate. For instance, the impacts on the outcome variables are more pronounced for the firms in democrat-led states and for firms which operate in states without right-to-work laws. The effects of unionization are also more noticeable for multi-establishment firms versus one-establishment firms. In addition, we find that the effects vary according to the margin of support for unionization within a firm.
The third essay examines the causal effects of unionization on innovation activities of publicly traded firms in the United States. As in the case of chapters 1 and 2, the analysis uses a dynamic difference-in-difference estimation strategy on a dataset that is compiled using information on unionization data from the National Labor Relations Board, financial data from Compustat and KPSS patent data. My analysis encompasses a wide range of innovation indicators, including the number of patents, number of forward citations, market value of patents, average citations, number of patents to RandD expenditures ratio, number of citations to RandD expenditures ratio, number of patents per 1000 employees, capital expenditures to sales ratio and RandD expenditures to sales ratio. The findings suggest a small positive impact of unionization on most of these innovation indicators, with the exception of market value of patents and number of patents to RandD expenditures ratio. I also find that the effects of unionization vary according to political orientations of states, industry type, firm size and firm age. The results demonstrate that the effects on innovation are more pronounced for smaller and younger firms and for firms operating in democrat-led states as well as manufacturing firms. / Doctor of Philosophy / This thesis is a collection of three self-contained essays that examine the firms' behaviors in contexts where not all the units received the treatment at the same point in time.
In the first essay, we investigate how small loans affect the financial health of small business owners. By analyzing data from a lender and credit bureau, we identify the causal effects of receiving loans on the financial health of borrowers. The results indicate that even small loans have a positive and lasting impact on credit scores, debt-to-income ratios, and credit utilization ratios. This research also sheds light on the effects of loans on borrowers with less favorable credit status or those starting a new business, who often face challenges in accessing credit.
In the second essay, the focus shifts to the impact of unionization on the financing decisions of publicly traded firms in the United States. We examine the causal effects of unionization on various financial indicators. The findings reveal a negative effect of unionization on metrics such as debt-to-equity ratio, market leverage, and book leverage. However, cash holdings experience an increase. Furthermore, the effects of unionization vary based on the political and institutional structure of the states where firms operate, as well as the margin of support for unionization within a firm. The impact of unionization is more pronounced in democrat- led/without right-to-work law states, multi-establishment firms and when the support for unionization is stronger among employees.
In the third essay, we investigate the effects of unionization on innovation activities within publicly traded firms in the United States. By analyzing unionization data, financial data, and patent data, the study examines the causal effects of unionization on various innovation indicators. The results reveal a small positive impact of unionization on most innovation indicators, such as the number of citations, number of patents per 1000 employees as well as ratio of number of citations to RandD expenditures. However, the effects on market value of patents and number of patent-to-RandD expenditure ratios are not statistically significant.
Moreover, the analysis considers factors like political orientations of states in which the firms operate, industry type, firm size and firm age. The findings indicate that the effects on innovation outcomes are more pronounced for smaller firms, younger firms, firms operating in democrat-led states and manufacturing firms.
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Financially Wiser: using financial management to improve the wellbeing of young and middle-aged adults in the communityFerrera, Charisma C. 18 January 2022 (has links)
There is evidence that a person’s financial situation is associated with their wellbeing now and in the future. However, financial stress is present in many adults’ lives, impacting their role and participation in different occupational domains such as work, health management, and instrumental activities of daily living. Financial stress is consistently one of the top three causes of stress in the United States (APA, 2015). Financial stress is associated with cumulative effects that have a negative impact on a person’s physical health (Gallo et al., 2011; Kahn & Pearlin, 2006; Sturgeon et al., 2016) and mental health (Fitch et al., 2011; Mucci et al., 2016).
Improving a person’s financial wellbeing is one way to mitigate financial stress. This project focused on the factors affecting a person’s financial decision-making skills and behavior, leading to financial stress or financial wellbeing. The evidence literature and current approaches were reviewed and contributed to the development of Financially Wiser, a theory-driven evidence-based approach for developing financial literacy and positive financial management behavior that leads to improved financial wellbeing. Financially Wiser is designed as a community-based financial management education program facilitated by an occupational therapist. A pre-test post-test evaluation will be conducted to determine participant satisfaction and the degree to which the program goals were achieved.
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Financial ForestCarlson, Karen 01 January 2014 (has links)
Regular savings behavior is critical for low-income Americans to achieve financial mobility. New technology tools are being used to improve personal awareness and attention to financial goals. This thesis reviews mobile learning (mLearning) research and leading commercial personal finance smartphone apps, both of which inform the design of Financial Forest, a savings app. Participants in the 4-week Financial Forest savings study are found to have a statistically significant improved perception of the difficulty of building an emergency fund.
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EXAMINING THE PERSONAL FINANCE ATTITUDES, BEHAVIORS, AND KNOWLEDGE LEVELS OF FIRST-YEAR AND SENIOR STUDENTS AT BAPTIST UNIVERSITIES IN THE STATE OF TEXASMarsh, Brent Alan 27 June 2006 (has links)
No description available.
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Inlåsningseffekten : Skattens effekt på svenskars fondsparandeBjörkholm, Johan, Dahlberg, Mattias, Johansson, Viktor January 2014 (has links)
Bakgrund: I Sverige har 76 % av befolkningen innehav i fonder och den totala fondförmögenheten uppgår till 1 925 miljarder. Kapitalvinstskatten ligger på 30 % och utlöses endast vid en realisation av vinsten. Många svenskar undviker gärna att aktivera denna skatteeffekt och blir därmed inlåsta i sina fonder. Syfte: Syftet med denna uppsats är att utifrån intervjuer med privata fondsparare och aktörer inom branschen förklara hur kapitalvinstskatten påverkar privatpersoners resonerande och agerande. Detta beteende kommer sedan att analyseras utifrån befintliga teorier inom beteendeekonomi. Metod: För att nå studiens syfte har vi använt oss av en abduktiv metod. Det empiriska materialet har samlats in med hjälp av semistrukturerade intervjuer. Totalt har vi intervjuat 10 fondsparare och 6 personer inom branschen. Materialet från intervjuerna har sedan förklarats med hjälp av de teorier vi valt ut. Slutsats: I vår studie har vi kommit fram till att inlåsningseffekten varierar beroende på fondspararens ålder. Den yngre gruppen ställde sig mer likgiltig inför kapitalvinstskatten, med anledning av en kort placeringshorisont. Den äldre gruppen hade en mer ospecificerad placeringshorisont och baserade sina investeringsbeslut utefter skattekonsekvensen. Kapitalvinstskatten hade då en bromsande effekt, eftersom det skulle minska den totala förmögenheten. / Background: In Sweden 76 % of the population has savings in mutual funds, with a combined wealth of 1 925 billion SEK. The tax on capital gains is 30 % and is activated when the profit is realized. Many Swedes avoid triggering this tax effect and is therefore locked-in in their mutual funds. Purpose The purpose of this study is, from interviews with private fund investors and industry players, to explain how the capital gains tax affects individuals’ reasoning and actions. This behavior will then be analyzed in terms of existing theories in the field. Method: We have used an abductive method to achieve the purpose of this study. The empirical material has been collected through semi-structured interviews. We have conducted 10 interviews with private fund investors and 6 people in the fund industry. The material from the interviews was then explained by means of the theories we have selected. Conclusion: In our study we came to the conclusion that the lock-in effect varies depending on the fund savers age. The younger group was more indifferent to the capital gains tax, due to a shorter investment horizon. The older group had a more unspecified investment horizon and based their investment decisions along the tax consequence. Capital gains tax then had a braking effect, as it would reduce the total wealth.
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Personal Finance Beliefs and Behaviors: A Longitudinal Analysis of Pharmacy GraduatesHagemeier, Nicholas E., Branham, Tandy, Ansari, Nasar 25 July 2016 (has links)
Objectives: 1) Describe personal finance (PF) perceptions of the East Tennessee State University (ETSU) Gatton College of Pharmacy Class of 2014 upon and 1-year post-graduation; 2) Examine the association between PF elective course completion during pharmacy school and post-graduation PF behaviors. Method: Students enrolled in the ETSU Class of 2014 completed a self-administered questionnaire that assessed student characteristics (e.g, participation in a PF elective during school), PF characteristics (e.g., student loan indebtedness), perceptions (e.g., confidence in ability to manage PF), and behaviors (e.g., monthly budgeting) one week prior to graduation and 18 months post-graduation. Paired and independent samples statistical analyses were conducted to examine changes in responses over time and PF course participation. Results: Sixty percent of the cohort completed both questionnaires. Students reported an average student loan debt balance of $155,571 (±$83,853) 18 months post-graduation and average loan term length of 17.3 (±8) years. Students’ concerns about their student loan debt were significantly higher prior to graduation as compared to 18 months post (p=0.01). No significant differences were noted for student loan debt amount or student loan term length across PF elective participation. Students who took the personal finance elective were significantly more likely to develop monthly budgets (p=0.01) and report positive career satisfaction as compared to students who did not (p=0.04) 18 months post-graduation. Implications: To our knowledge, this is the first study to track PF perceptions and behaviors of pharmacy graduates longitudinally. Continued tracking and analysis will inform PF curricular integration and alumni personal and professional development.
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Asmeniniai finansai: investavimas / Personal finance: investmentGedvilaitė, Dainora 20 June 2013 (has links)
Baigiamajame magistro darbe investavimo aspektu nagrinėjama asmeninių finansų tema. Pirmojoje dalyje išanalizuota asmeninių finansų ir investicijų samprata bei esmė, pateiktos pagrindinės finansinės priemonės bei investicinio portfelio sudarymo ir valdymo strategijos. Antrojoje dalyje atliekama įmonių, listinguojamų NASDAQ OMX Vilnius, fundamentinė analizė. Apskaičiuoti investiciniai, pelningumo, likvidumo ir veiklos efektyvumo rodikliai. Trečiojoje dalyje sudaromas investicinis portfelis iš pasirinktų įmonių akcijų. Šio portfelio sudarymui naudojamas dvigubo kozirio modelis. Darbo pabaigoje pateikiamos išvados ir siūlymai. Struktūra: įvadas, trys pagrindinės dalys, išvados ir siūlymai, literatūros sąrašas. Darbo apimtis: 70 puslapių teksto be priedų, 26 paveikslai, 8 lentelės, 36 bibliografiniai šaltiniai. Atskirai pridedami priedai. / In this master thesis the theme of personal finances is analyzed in the aspect of investment. The theoretical part are analyzed the concept and essence of personal finance and investment, presented the main financial instruments and investment portfolio formation and management strategies. In the second part of thesis performed fundamental analysis. Calculated investment, profitability, liquidity, efficiency financial indicators. In the third part are structured a personal investment portfolio. The main conclusions and suggestions are provide at the end of this work. Structure: introduction, the three basic parts, conclusions and suggestions, list of literature. Thesis consist of: 70 pages of text without appendixes, 26 pictures, 8 tables, 36 bibliographical entries. Apendixes included.
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Vad kostar korttidssjukfrånvaron?Brinkner, Jessica, Eriksson, Carolina January 2014 (has links)
Bakgrund och problem: Långtidssjukfrånvaron har länge varit ett uppmärksammat problem och flertalet åtgärder har satts in för att minska denna. På senare tid har korttidssjukfrånvaron dock lyfts fram som ett ytterligare problem och erhållit en större uppmärksamhet i takt med dess ökning. Korttidssjukfrånvaro syns inte i offentlig statistik förrän efter den åttonde dagen och är därmed svår att studera. Likaså kan kostnaden för korttidssjukfrånvaron vara svår att fastställa eftersom korttidssjukfrånvaro består av både direkta- och indirekta kostnader. Syfte: Syftet med denna studie är att beskriva och förklara hur stora kostnaderna är för den korttidssjukfrånvarande socialsekreteraren på en enhet i Växjö kommun. Utifrån dessa kostnader ska sedan en metodik utformas för att kunna fastställa en standardkostnad för vad korttidssjukfrånvaro per timme kostar. Metod: Under studiens gång har en abduktiv forskningsansats, en kvalitativ forskningsstrategi och en fallstudie som undersökningsdesign nyttjats. Vidare har de metodologiska valen motiverats väl. Slutsats: Vi har i denna studie kommit fram till att kostnader för korttidssjukfrånvaro på berörd enhet består av kvarvarande lönekostnader och kostnader för överanställningar. / Background and Problem: Long-term sick leave has long been a recognized problem and several measures have been taken to reduce it. However more recently, short-term sick leave has been highlighted as an additional problem and received a greater attention in pace with its growth. Short-term sick-leave doesn’t appear in official statistics until after the eighth day and is therefore difficult to study. Similarly, the cost of short-term sick-leave is difficult to establish since it consists of both direct and indirect costs. Objective: The aim of this study is to describe and explain what the costs are for the short-term sick leave social worker at a unit in Växjö municipality. Based on these costs a methodology then will be designed to establish a standard cost for what short-term sick leave per hour costs. Method: During the study an abductive research approach, a qualitative research approach and a case study research design has been utilized. Furthermore, the methodological choices have been justified well. Conclusion: We have in this study concluded that the cost of short-term sick leave for the unit in question consists of the remaining wage costs and over employment costs.
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