• Title/Summary/Keyword: Financial Literacy

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Psychodynamics of Investments: Study on 'Fear' and 'Love' Among Financially Literate Investors in India

  • SHOLLAPUR, M.R.;PATTED, Shridevi;PRASAD, Dev
    • The Journal of Asian Finance, Economics and Business
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    • v.9 no.2
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    • pp.395-407
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    • 2022
  • This study examines the emotional undercurrents of individual investors. Earlier finance theory was based on the assumption that investors would act rationally. According to the findings, it is the investors' collective expectations and anxieties that have an impact on their investment fortunes. This necessitates a high level of emotional stability on the side of the investors. Investors must have a firm foundation in financial literacy to have the requisite level of emotional stability. This study aims to add to existing theory and practice by analyzing whether investors who have received business-related education are less emotional than those who have not. For the survey inquiry of individual investors, 'fear' and 'love' are considered among the emotional undercurrents of individual investors. The research is based on a survey of 875 individual investors in India, 342 of whom had a business background and the others have none. It has been discovered that no investor, regardless of their level of business education, is emotion-free. Investors with and without a business education display emotional stability in many behavioral aspects of fear and love to varying degrees.

A study on content curriculum mapping of Korea in the OECD education 2030 project: Focused on mathematics (OECD Education 2030 교육과정 내용 맵핑 본검사 참여 연구 : 수학과를 중심으로)

  • Cho, Seongmin;Lee, Mee-Kyeong
    • The Mathematical Education
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    • v.58 no.4
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    • pp.507-518
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    • 2019
  • The OECD launched the Education 2030 project to develop a learning framework and to conduct the international comparative study on curriculum. As a part of the OECD international curriculum analysis, Korea Institute for Curriculum and Evaluation(KICE) conducted a main study of Curriculum Content Mapping (hereafter, CCM) in the 7 learning areas/subject areas such as national languages, mathematics, humanities/social sciences, natural science, physical education/health, arts, and technologies. The CCM study aimed to identify how the competencies on CCM framework were reflected in the Korea curriculum. For this purpose, KICE identified the competencies on CCM framework, revised the coding framework, and undertook the mapping process. In this study, we gathered the CCM data as an evidence of how competencies on CCM framework were embedded in the 2015 revised mathematics curriculum. For this purpose, experts in mathematics education undertook the mapping process, we summarized the results of CCM main study in mathematics. As the results, numeracy, critical thinking, problem solving, anticipation, action, reflection were perfectly embedded in the 2015 revised mathematics curriculum. the competencies on CCM framework were embedded in the 2015 revised mathematics curriculum, and but literacy, physical/health literacy, trust, learning to learn, reconciling tension and dilemmas, literacy for sustainable development, financial literacy, and entrepreneurship/enterprising were not clearly related to mathematics curriculum. The mapping results should help the Korea Ministry of Education and KICE for preparing the future curriculum revision and development.

Artificial Intelligence (AI) and Blockchain-based Online Payments in the Global World

  • Ahlam Alhalafi;Prakash Veeraraghavan;Dalal Hanna
    • International Journal of Computer Science & Network Security
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    • v.24 no.3
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    • pp.1-11
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    • 2024
  • Payment systems are evolving, and this study examines how blockchain and AI improve online transactional security and service quality. The study examines micro and macro payment systems, compares online, and offline methods all over the world. The study also examines how blockchain and AI affect payment system security, privacy, and efficiency globally and rapidly digitizing economy. Digital payment methods are growing all over the world with high literacy and digital engagement, but they face challenges. The research highlights cybersecurity threats and the need to balance user convenience and security. It suggests blockchain and AI improve online payment services, supporting the policies for different countries. In this extensive research survey, we compare and evaluate the strengths and weaknesses of various payment systems, their practicality, and their robustness. This study also examines how technological innovations and payment systems interact to reveal how blockchain and AI could transform the financial sector. It seeks to understand how technology-enhancing service quality can boost customer satisfaction and financial stability in the digital age. The findings should help policymakers, financial institutions, and technology developers optimize online payment systems for a more secure and efficient digital economy.

A Study on the Factors that Affect the Investment Behavior in Financial Investment Products : Focused on the Effect of Adjustment in Investment Consulting Service (금융투자상품 투자행동에 영향을 미치는 요인에 관한 연구: 투자상담서비스의 조절효과를 중심으로)

  • Lee, Kye Woung;Ha, Kyu Soo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.9 no.5
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    • pp.53-68
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    • 2014
  • This study is aimed at analyzing the factors that affect the behaviors of employee's investment, such as a decision making process in a variety of views and proving the extent of how those factors influence on their investment. The basic assumption is that the preceding factors that can be determined by the personal investment propensity, a psychological factor asserted by Behavior Financial Theory and financial-economic and social environment. This study uses Hershey's Investment Behavior Model(2007) as the main analysis tool to explain the investment behavior of individuals and deals with personal investment inclination in the psychological perspective of overconfidence, self-control and the risk tolerance propensity and add the financial and economic factors in terms of financial literacy and economic distress. Also the new preceding social environmental factors like social interaction and the effect of reference group are added to make this research to be more precise. This study analyze the adjustment effect of professional invest-consulting service that affect the fluctuation influence between the individual variables(those factors) and subordination variable(the level of investment satisfaction). The study reveals that overconfidence and self-control in direct ways have a positive effect on the level of investment satisfaction in terms of investment behavior and economic distress has a negative effect on the level of investment satisfaction. The adjustment effect provided by financial experts in investment consulting service is affirmed as the critical factor that increase the influence between self-control and the level of investment satisfaction. To conclude, the research reveals that the psychological factors are the main criteria when the workers as employees have to make investment decisions. To make investors be reasonable, a systematic financial education system provided by experts is needed from the early adolescent stages and financial companies should develop the relevant services of consulting service department as a key financial sector and financial investment products and consulting program and marketing tool pertinent to investors ages, vocational traits and their inclinations.

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Measure of economic literacy of college students -Focused on D college in Daegu city- (대학생의 경제이해력 측정 -대구 D대학을 중심으로-)

  • Lee, Sang-Kyung;Park, Su-Yong
    • Journal of the Korea society of information convergence
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    • v.5 no.2
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    • pp.3-24
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    • 2012
  • The purpose of this paper was to find out how the economic experiences of college students would affect their economic literacy via a survey with 494 D college students in Daegu city. First, economic literacy based on the general societal characteristics indicates 48.33 with females and 46.76 with males on average respectively, which shows a low score by and large. In the program divisions of college, nursing students showed the highest economic literacy, 58.67, followed by students in humanity and society, 53.56 students in engineering, 49.00 students in public health, 45.78 and students in art and physical education, 39.64. Levels of education of college students' father also affected economic Literacy of college students. College students whose father has a middle school diploma or lower revealed the highest economic literacy, 50.11. A second place is those whose father has a high school diploma, 49.57. The lowest score was recorded by those whose father has a graduate school degree. Even among the college students, those who just graduated from high school exhibited the highest economic literacy, 49.35, whereas those with a graduate school degree showed the lowest, 40.00 on average. In the economic literacy by financial empirical characteristics, college students who answered that they had an experience of opening a bankbook came up with 48.47, and those who answered that they had never opened a bankbook demonstrated a very low score of 30.20 on average. In the economic literacy by economic life variable, college students who never receive pocket money showed the highest score of 50.88, and those who get some pocket money whenever they need exhibited the lowest score of 44.23 on average. In the economic literacy by economic education variable, college students who answered that they had taken an economic education showed a score of 50.09. On the other hand, those who answered that they had never taken an economic education exhibited a score of 45.23 on average. College students who said that economic education is necessary showed a score of 50.24 in the economic literacy, whereas those who said that economic education is not necessary exhibited a score of 45.23 on average.

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Who has a high level of food literacy, and who does not?: a qualitative study of college students in South Korea

  • Hyelim Yoo;Eunbin Jo;Hyeongyeong Lee;Eunji Ko;Eunjin Jang;Jiwon Sim;Sohyun Park
    • Nutrition Research and Practice
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    • v.17 no.6
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    • pp.1155-1169
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    • 2023
  • BACKGROUND/OBJECTIVES: Unhealthy food choices among young adults are common globally, and the incidence of chronic diseases, such as obesity, is rising. Food literacy (FL) is important for improving and maintaining individual health in a rapidly changing food environment and can form the basis for following a sustainable diet. Therefore, it is essential to improve FL among young adults, particularly college students, who are in the formative years of their lifelong food habits. This study examined the facilitators and barriers of FL and related dietary behavior among college students in South Korea. SUBJECTS/METHODS: This study recruited 25 college students with different residence types using convenience and snowball sampling. In-person, telephone, and video interviews were conducted from March to November 2021. The interview data were analyzed using framework analysis based on the socio-ecological model. RESULTS: At the individual level, prior good experiences with food were the most frequently mentioned facilitator. In contrast, the major barriers were a lack of knowledge, financial hardship, irregular schedules, and academic stress. At the interpersonal level, the influences of family and peers, such as early exposure to healthy eating habits and opportunities to have easy accessibility to farms and farming, are major facilitators, but the lack of a sense of community was the major barrier. At the environmental level, the major barriers were unfavorable food environments at home and in neighborhoods, such as the absence of kitchens in housing and large packaging of produce at markets. CONCLUSIONS: Many factors affected the students' FL and related healthy eating practices. These findings suggest that a campus-based FL program should be developed by reflecting on these facilitators and barriers.

An Analysis on the Elementary and Secondary Education Act of the US -Focusing on the Contents of Library and Information Services (미국의 초중등교육법 분석: 문헌정보 서비스 내용을 중심으로)

  • Zhang, Lingling;Park, Juhyeon
    • Journal of Korean Library and Information Science Society
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    • v.50 no.1
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    • pp.357-380
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    • 2019
  • The purpose of this study is to analyze the Elementary and Secondary Education Act(ESEA) of the U.S. reauthorized by the Every Student Succeeds Act in 2015 from the viewpoint of the library and information services, and to derive implications for improving the library and information services. For the first time, ESEA includes effective school library programs and school librarians, and links school library programs and school librarians with literacy, digital literacy, books, resources, up-to-date materials, technology, library services and educational services. It provides a financial and institutional base for library and information services in elementary and secondary schools of the US to be more conducted. In addition, school librarians are required to participate in personalized learning experiences, evidence-based assessments, and professional development in the law, so school librarians must provide library and information services to students, staff, and parents in order to improve student achievement and digital literacy. Based on these analyses, this study discussed strengthening access to the school library, specifying the work of the teacher-librarian's library and information services, strengthening collaboration with school members, educational activities based on evidence base, sharing educational effects and developing of library and information curriculum.

The Effects of the Risk Reduction Behavior and the Choice Attribute on the Fund Investment Behaviors (펀드 위험감소행동과 선택속성이 펀드투자행동에 미치는 영향)

  • Jang, Boo Yeon;Ha, Kyu Soo
    • Asia-Pacific Journal of Business Venturing and Entrepreneurship
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    • v.10 no.3
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    • pp.161-170
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    • 2015
  • Recently the fund has been popular for the representative financial investment. In the decision making procedure of the investor about this fund investment, this research analyze how the factor was considered as fund investing behavior. The paper examines investors' risk reduction behavior and fund choice attribution for fund investment behavior, provides insight for marketing strategy in fund market for fund investment behavior. The period for the survey is from December 2014 to January 2015 and analyzed 431 samples of using a fund investor The research results showed that fund distribution, fund literacy and fund performance appeared to be statistically significant variables that positive affected fund investment satisfaction, but fund advertise negative affected fund investment satisfaction. Also, the fund management company, benefit, fund literacy, fund performance, and recommend appeared to be statistically significant variables that positive affected fund investment intention. It is expected that fund marketing strategy based on research return should be established to cope with the fund literacy as well as the fund investing behavior. Concretely to fund investment satisfaction make informed decision in fund performance, fund information provided to investor should be customized to contribute the improvement of overall fund literacy.

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An Application of Fuzzy AHP and TOPSIS Methodology for Ranking the Factors Influencing FinTech Adoption Intention: A Comparative Study of China and Korea (FinTech 채택 의도에 영향을 미치는 요소의 순위 결정을 위한 Fuzzy AHP 및 TOPSIS 방법론의 적용 : 중국과 한국의 비교 연구)

  • Mu, Hong-Lei;Lee, Young-Chan
    • Journal of Service Research and Studies
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    • v.7 no.4
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    • pp.51-68
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    • 2017
  • Financial technology (FinTech) is an emerging financial service sector include innovations in financial literacy and investment, retail banking, education, and crypto-currencies like bitcoin. One of the crucial branch of financial technology-third-party payment (TPP) is undergoing rapid growth, with online/mobile systems replacing offline financial systems. System quality and user attitudes are key perceptions driving third-party payment usage, the importance of these perceptions, however, may be different with countries as users' thinking varies from country to country. Thus, the purpose of this study is to elaborate how factors differ from China to Korea by drawing on the unified theory of acceptance and use of technology (UTAUT2). Additionally, this study also aims to propose a multi-attribute evaluation of the third-party online payment system based on analytic hierarchy process (AHP), fuzzy sets and technique for order performance by similarity to ideal solution (TOPSIS), to examine the relative importance of the perceptions influencing new technology adoption intention. The results showed that the price value has the most significant influence on Chinese perceptions, while the perceived credibility has the most significant effect on Korean perceptions. Sub-criteria also performs different results to Chinese and Korean third-party online payment system.

A Study on Influencing Factors of Elderly Consumers' Self-Efficacy in Internet Banking Usage: Exploring Moderating Effect of 60s and 70s (고령 소비자의 인터넷 뱅킹 사용 자기효능감의 영향요인에 관한 연구: 60대와 70대의 비교)

  • Ku, Yoonhye;Yang, Su Jin
    • Journal of Korean Home Economics Education Association
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    • v.34 no.4
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    • pp.77-92
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    • 2022
  • Recently, digital transformation in the financial industry has been accelerated, and it has become an important task to improve the level of utilization of Internet banking by elderly consumers, who are vulnerable to Internet use. Accordingly, this study analyzed 3,101 respondents in their 60s or older from the 11th year of the Media Panel Survey to identify demographic, experiential, and psychological factors that affect the self-efficacy of elderly consumers' usage of Internet banking. The main research findings are as follows. First, gender, education, occupation, and income were identified as demographic variables. Second, the Internet shopping experience was identified as an experiential factor. Also, concerns about information security, digital literacy, and high will for problem-solving were identified as psychological factors. Third, as a result of the moderating effect analysis on whether the experiential and psychological factors have different influences according to the group divided into the 60s and 70s, the effect on self-efficacy in the usage of the Internet was classified by age. The results of this study will be able to enrich the discussions related to the intention to utilize technology among elderly consumers by empirically revealing that there are characteristics that cause differences in financial behavior even within one group called the elderly.