This news article reports on the events occurring and the views taken at the 1995 UN Conference on Women held in Beijing China and the Nongovernmental Organization (NGO) Forum. The setting in China for this decennially occurring conference was appropriate for the discussion of womens rights. Despite the selective coverage of the conference by Chinese official reports word would trickle out in whispers to Chinese women about some new ideas. Chinese visa restrictions on participants of the NGO Forum forced many women to devise ingenious ways of gaining entrance to the meetings. The alliance between the Holy See and Islam disciples threatened to undermine basic goals of conference to open up access to contraception and to change property rights. The conference chair diplomatically found justification for praise of unpopular views despite the disputes among a majority of delegates. The aim of the conference was to obtain a common understanding of some basic rights and not 100% agreement. Womens economic contributions have not been recognized in gross domestic product calculations. The World Bank has reported that about $13 billion is unaccounted for income and unwaged income of which about $8.5 billion is due to womens productivity. Women expressed the desire for recognition of their economic contribution. Since the last womens conference held in Nairobi in 1985 there has been an increase in world poverty. Uganda expends more on servicing its debt than on health and education. There was general agreement that gender equity was a goal but there was less consensus on how to achieve it.

Gross domestic product.

The business environment is a profound concern for the state and institutions to make it encouraging to boost entrepreneurship. Given such relevance of the business environment, this paper aims to link selected business environment aspects to business sector. The study identified the perceived differences between sectors in the Czech and Slovak Republics and then a comparison of a similar group of firms. To shape the study, survey-based research planned and conducted in two segments of firm’s (service and non-service), covered 641 enterprises. The current research adopted factor analysis and then t-test and Mann-Whitney test to determine the results. The major findings of the study reveal that the Slovak firms in the service sector scored higher in macroeconomic environment, consumers’ consumption and competition factors and lower in access to finance factor, as compared to their non-service counterparts. However, another key finding indicates that the Czech entrepreneurs’ perception did not statistically differ in any selected aspects of business environment between the firms operating in service and non-service sectors. In all the cases business support was found insignificant. This paper adds to the existing literature in entrepreneurship by offering a better understanding of the linkage between business sector and business environment aspects.

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Perception of the Selected Business Environment Aspects by Service Firms

DOI: 10.14254/2071789X.2020/13-3/9 ABSTRACT. The purpose of this study is to investigate and measure the level of financial literacy and its variables within the academic community in Indonesia. The strength of this study is that it extends the concept of financial literacy and its variables. This study explains how members of Indonesian academic community understood their financial literacy levels and the ways in which it can be improved. The study sample comprised 889 lecturers in Indonesia. The survey method was used to measure financial literacy and its variables which include subjective financial knowledge, financial behavior, financial experience, financial awareness, financial skills, financial capability, financial goal, and financial decisions, as reflected in individuals’ financial behavior. The research data were collected using a quantitative survey and were analyzed using structural equation modeling (SEM). The results confirm the relationships between financial literacy and its variables of financial awareness, financial behavior, financial experience, financial skills, subjective financial knowledge, financial capability, financial goals, and financial decisions. This study fills the gap in the literature related to the multi-variables of financial literacy. It provides information to assist policy-makers in developing strategies to increase financial literacy in society.

Financial literacy and its variables: The evidence from Indonesia

Introduction The relevance of the study: In the last decade the concept of personal finance has been tangled a lot by famous economists such as Lusardi, A. (2008/2013); Mitchell, S. O. (2010) or by different organizations: OECD (2012), Lithuanian Bank (2012/2013) and others. The importance of personal finance management became very clear after global financial crisis in 2008. A considerable part of households faced financial difficulties, as they have lost part of their income, due to lost jobs and did not had enough savings to pay out the mortgage. The value of accumulated capital in long-term solutions has dropped significantly. E.g. OECD has estimated that the losses of pension funds in OECD countries to be 5.4 trillion USD or about 24% of the value of assets in these countries in 2008 (OECD 2011). The returns of pension funds in Latin America and Central Europe in 2008 were two-digit negative. These numbers indicate that lots of people suffered from financial crisis. Recent experience shows, that it is very important to have sufficient financial management skills and financial literacy knowledge starting from the young age. These financial planning mistakes done in the first stages of independent life can be difficult to be corrected in the future, so their financial decision making has high impact not only on their current household economic well-being, but also influence the future. These are the main reasons why the subject of the article is young households aged between 18 and 30. Young households in Lithuania combine almost 1/3 of a population in Lithuania (Lithuanian Department of Statistics 2013). In the paper it will analyze what other effects financial literacy does to personal finance management. Moreover, it will be discussed how financial literacy level can be improved. The novelty of the study Almost no scientific analysis has been made in Lithuania on personal finance management and financial literacy. Authors that do work in this subject usually analyze it only partially: Vitunskien?, V. (1997) analyzed households' economics; Rakauskiene, O. G., et al. (2007) investigated saving behavior models of different genders; Bikas, E., et al. (2010) researched behavior of investors. Financial supervisory authorities are starting to pay much more attention on the financial literacy education, main issues related with personal finance planning (e.g. setting minimal own capital criteria's for lending, supervising quick (or fast) short-term lending products supervisory; benchmarking investment management of investment risk of private second and third pillar pension funds, etc.), starting public PR and marketing campaigns on financial literacy education. This shows the mean that responsible management of personal finance and saving from the early stage of life inevitable. Authors of the paper did not find any similar study which was made about Lithuanian young households. The research analysis young Lithuanian people approach towards various saving ways and the results will be compared with similar foreign researches. The object of the paper is personal finance management and the importance of financial literacy in Lithuanian population part between 18 and 30 years old. The aim of the study is to define the main concepts and importance of personal finance management and financial literacy using comparable analysis of the scientific literature. Also to examine the level of financial literacy and personal finance management skills of young (18 to 30 years old) Lithuanians and compare the results with foreign countries experience. The tasks of the study are: 1. To analyze the scientific literature in order to define the main concepts, importance of personal finance management and financial literacy. 2. To create the questionnaire based on foreign scientists researches and Lithuanian specifics, and to evaluate the level of financial literacy and personal finance management skills. …

Influence of Financial Literacy on Management of Personal Finances in a Young household/Finansinio Rastingumo Itaka Jaunimo Asmeniniu Finansu Valdymui

A growing literature has examined the role of financial literacy in an individual’s income, saving behavior and the use of various financial products. However, so far, no one has examined the relationship between financial literacy and the awareness and adoption of financial technology (fintech) products, i.e., financial products provided via internet-based and mobile-based platforms. This paper examines this relationship in a developing country, the Lao People’s Democratic Republic (PDR). We use information collected in the Lao PDR using the standardized questionnaire developed by the Organization for Economic Cooperation and Development International Network on Financial Education (OECD/INFE) to calculate our financial literacy. We find that a higher level of financial literacy has strong and positive effects on an individual’s awareness of fintech products. This result still holds when we use a set of instrumental variables for the financial literacy variable. However, there is insufficient data to find a significant relationship between financial literacy and the use of fintech products.

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Fintech and Financial Literacy in the Lao PDR

This paper investigates the relationship among digital financial literacy (DFL), current saving behavior, current spending behavior, and foresight of future spending and saving behavior among Indon...

Digital financial literacy, current behavior of saving and spending and its future foresight

This study aims to determine the level of financial literacy among the millennial generation and to examine the correlation of their financial knowledge, financial attitude, and financial skills with their financial behavior. Multiple choice questions were used to measure financial knowledge with results grouped into three categories: low, moderate, and high. Financial attitude, financial skills, and financial behavior were also grouped using the quartile method into three categories: poor, fair, and good. Chisquared analysis was used to test the hypotheses, with correspondence analysis conducted to identify the characteristics of the millennial generation and to graphically illustrate the gap. Regarding financial attitude, financial skills, and financial behavior, the proportions of respondents in the 'fair' category, were 70.6%, 66.5%, and 72.2%, respectively. Significant relationships were found not only between financial attitude and financial management behavior, but also between financial skills and financial management behavior. However, the relationship was not significant between financial knowledge and financial behavior.

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Financial Literacy among the Millennial Generation: Relationships between Knowledge, Skills, Attitude, and Behavior

The performance of a business could not be separated from the influence of macroeconomic factors Global economic crisis occurred in 1998, 2008, and 2015 had a significant impact on the performance of all business sectors The main purpose of this study is to determine the influence of macroeconomic factors which are: inflation rate, unemployment level, Gross Domestic Product (GDP), and exchange rate on firm profitability which is reflected by Return on Asset (ROA) ratio This study uses macroeconomic factors as independent variables, and ROA ratio as dependent variable Using multiple regression method, the four macro-economic factors and ROA ratio from fast moving consumer good firms listed on Indonesia Stock Exchange (IDX) are tested over the period of 1998-2016 on yearly base As a result, it is found that all independent variables have influence on ROA ratio (firm profitability) and partial t-test result showed that only Gross Domestic Product (GDP) level has influenced significantly on firm profitability, while other three macroeconomic factors have no significant influence

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The Impact of Macroeconomic Factors on Firms Profitability (Evidence From Fast Moving Consumer Good Firms Listed on Indonesian Stock Exchange)

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Vera Intanie Dewi

Papers

Digital financial literacy, current behavior of saving and spending and its future foresight

Financial literacy and its variables: The evidence from Indonesia

Financial Literacy among the Millennial Generation: Relationships between Knowledge, Skills, Attitude, and Behavior

The Impact of Macroeconomic Factors on Firms Profitability (Evidence From Fast Moving Consumer Good Firms Listed on Indonesian Stock Exchange)

Does Financial Perception Mediating the Financial Literacy on Financial Behavior? A Study of Academic Community in Central Java Island, Indonesia