Addressing Financial Inclusion Challenges in Rural Areas from the Financial Services Marketing Employee Emotional Labor Dimension: Evidence from Nigeria

Imhanrenialena, Benedict Ogbemudia; Obi-Anike, Ozioma Happiness; Okafor, Chikodili Nkiruka; Ike, Ruby Nneka; Obiora-Okafo, Chinedu

doi:10.1057/s41264-021-00107-y

Cited by 4 publications

(12 citation statements)

References 34 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Another important addition to the literature is the empirical insights this study provides into how financial information literacy relates to strategic decision-making effectiveness and performance sustainability amid frequent innovations in financial products and services. This particular addition to the literature answers the calls of recent studies that highlight financial information literacy as a research gap that deserves urgent research attention following the increasingly complicated current financial environment [1,2,6].…”

Section: Theoretical Contributions To Knowledgementioning

confidence: 55%

“…This could be a result of the audio/visual characteristics of TV broadcasting. TV adverts on financial matters visually display magnificent banking facilities, a healthy workforce, and joyous customers that portray a healthy bank, which in turn boosts the farmers' confidence in modern financial services [1,2].…”

Section: Discussionmentioning

confidence: 99%

“…Frequent innovations in information and communication technology, as well as the complex nature of formal financial products and services, pose challenges for agribusiness entrepreneurs in rural areas and this necessitates an understanding of how financial information literacy impacts agribusiness performance sustainability in Nigerian rural communities [1,2]. Understanding the link between financial information literacy and business performance in every segment of society is crucial [3][4][5] given socio-economic and demographic differences across societies [6].…”

Section: Introductionmentioning

confidence: 99%

“…Extant literature shows that researchers have focused only on financial literacy and have neglected financial information literacy in developing countries [6,[9][10][11], particularly in Africa [1,2]. Financial literacy entails possessing and applying financial management skills for efficient and effective financial resource management for individuals' well-being [6].…”

Section: Introductionmentioning

confidence: 99%

“…Financial literacy entails possessing and applying financial management skills for efficient and effective financial resource management for individuals' well-being [6]. While financial literacy is concerned with the possession of adequate financial management skills, financial information literacy entails seeking and possessing adequate knowledge of the existence of financial products and services through diverse information channels [1,2,6].…”

Section: Introductionmentioning

confidence: 99%

See 4 more Smart Citations

The Role of Financial Information Literacy in Strategic Decision-Making Effectiveness and Sustainable Performance among Agribusiness Entrepreneurs in Nigeria

et al. 2023

Self Cite

View full text Add to dashboard Cite

The current financial environment is characterized by frequent innovations and complex financial products and services and this poses particular challenges for agribusiness entrepreneurs in rural areas. This study examined the sources of financial information available to agribusiness entrepreneurs in rural areas and how financial information literacy impacts performance sustainability and strategic decision-making effectiveness among agribusiness entrepreneurs amid complex and frequent innovations in financial environments in Nigeria. Utilizing a probability sampling approach, 397 respondents were drawn from the pool of agribusiness entrepreneurs registered with the Edo State Agricultural Development Programme for the Central Bank of Nigeria Anchored Borrower’s Programme (ABP) for farming businesses. The hypotheses were tested using linear regression analysis. The results from the demographic analysis suggest that agribusiness entrepreneurs have the highest access to radio adverts/programs on financial matters while television adverts/programs exert the highest persuasive influence on these agribusiness entrepreneurs. The outcomes from this analysis indicate that financial information literacy significantly impacts agribusiness performance sustainability among entrepreneurs. In addition, the proposed link between financial information literacy and strategic decision-making effectiveness among agribusiness entrepreneurs was confirmed. It is concluded that financial information literacy is needed for strategic decision-making effectiveness and performance sustainability among agribusiness entrepreneurs, particularly in rural areas, amid frequent innovative financial products and services.

show abstract

Section: Theoretical Contributions To Knowledgementioning

confidence: 55%

Section: Discussionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

The Role of Financial Information Literacy in Strategic Decision-Making Effectiveness and Sustainable Performance among Agribusiness Entrepreneurs in Nigeria

et al. 2023

Self Cite

View full text Add to dashboard Cite

show abstract

Investing in Rural Agriculture in the Face of Innovative Financial Services: Does Financial Literacy Matter in Nigeria?

Ogbemudia Benedict,

Wilson,

Ugwu

et al. 2024

Sage Open

View full text Add to dashboard Cite

The complex nature of formal financial products and services and the frequently associated innovations occasioned by disruptive technologies inform researchers’ calls for studies on financial literacy, particularly in African rural communities. As a response to the calls, this study explores how financial literacy relates to performance, access to credit facilities, and payment preferences among smallholder rural farmers in Nigeria. Further, the rural farmers’ financial literacy level on each of the four dimensions of the Standard and Poor Global Financial Literacy criteria was assessed. A random sample was drawn from the registered rural farmers in the Central Bank of Nigeria’s Anchored Borrower’s Program for the 2022 farming year. Quantitative data were collected from rural farmers using the Standard and Poor Global Financial Literacy questionnaire. The proposed hypotheses were tested with partial least squares structural equation modeling (PLS-SEM), while descriptive statistics were used to analyze the data. The outcomes show that financial literacy significantly predicts performance, access to credit facilities, and mode of payment preferences among smallholder rural farmers. Also, the analyses of the four dimensions of financial literacy show that the farmers are more literate in risk diversification and inflation than numeracy and compound interest. It is concluded that financial literacy is cardinal to profitable investments in rural farming, and as such, there is a need for the Nigerian government and financial authorities to embark on financial literacy drive with more emphasis on numeracy and compound interest where the rural farmers are more deficient.

show abstract

Financial Literacy, Credit Decision-Making, and Fintech

Kiky

2023

JRE

View full text Add to dashboard Cite

Financial literacy has evolved from basic financial knowledge into competencies to make financial decisions. Financial literacy is also related to credit decisions and business expansion in creating a resilient business in the long run. However, no specific research paper has done a systematic literature review that discusses this term with credit funding decisions to enhance the business. This article provides the latest linked keywords through VOS viewer visualization to help scholars find a research gap for future research in financial literacy and credit funding decisions. The result found four clusters of keywords regarding financial literacy or credit decisions. Despite many studies on this topic, the linked citation discusses SMEs’ performance, the role of financial inclusion in improving shareholder wealth, and fintech usage in improving financial inclusion. The three interconnected ideas provide a future guideline for scholar to find the latest research gap in this topic.

show abstract

Addressing Financial Inclusion Challenges in Rural Areas from the Financial Services Marketing Employee Emotional Labor Dimension: Evidence from Nigeria

Cited by 4 publications

References 34 publications

The Role of Financial Information Literacy in Strategic Decision-Making Effectiveness and Sustainable Performance among Agribusiness Entrepreneurs in Nigeria

The Role of Financial Information Literacy in Strategic Decision-Making Effectiveness and Sustainable Performance among Agribusiness Entrepreneurs in Nigeria

Investing in Rural Agriculture in the Face of Innovative Financial Services: Does Financial Literacy Matter in Nigeria?

Financial Literacy, Credit Decision-Making, and Fintech

Contact Info

Product

Resources

About