Building financial resilience through financial and digital literacy in South Asia and Sub-Saharan Africa

Kass-Hanna, Joséphine; Lyons, Angela C.; Fan, Liu

doi:10.1016/j.ememar.2021.100846

Cited by 123 publications

(90 citation statements)

References 57 publications

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“…They know how and where to invest in periods of surplus and periods of a deficit; they know where to source funds to meet the shortfalls. This result is consistent with previous findings ( Anshika et al, 2021 ; Kass-Hanna et al, 2021 ; Wahyono and Hutahayan, 2021 ). According to Burchi et al (2021) , good knowledge of investment products gives the advantage of market timing and investment timing and appropriate investment vehicle to create wealth.…”

Section: Discussionsupporting

confidence: 94%

New Schemes for Investment in of Small and Medium-Sized Enterprises of China: Role of Access to Finance, Innovation, and Sustainability

Tang

2022

Front. Psychol.

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Firm innovation relies heavily on financing, which is why it is a hot topic in the fields of finance and innovation management. Organizations can make strategic investments in production factors to develop competitive advantages because they have access to financial resources. This study investigated how financial literacy, innovativeness, and environmental sustainability influence the sustainability of small and medium-sized enterprises (SMEs). This was set as the primary objective in order to better understand the nature of the impact of financial literacy and innovation on the sustainability of SME firms. To test the hypotheses, structural equation modeling (SEM) was applied using data collected from 300 small businesses firms in China. The results revealed that financial literacy and innovativeness significantly influence small firms’ sustainability. Additionally, social inclusion significantly affects small firms’ sustainability, and sequentially has a significant effect on their performance. Research findings suggested that small businesses incorporate sustainability models into their operations and enhance financial knowledge in order to maintain sustainability.

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Section: Discussionsupporting

confidence: 94%

New Schemes for Investment in of Small and Medium-Sized Enterprises of China: Role of Access to Finance, Innovation, and Sustainability

Tang

2022

Front. Psychol.

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“…Previous studies on fintech focus on factors related to the intention to use (Daragmeh et al, 2021) and financial inclusion for unbanked citizens in developing regions (Ezzahid and Elouaourti, 2021). Incorporating Kass-Hanna et al (2022) argument that financial literacy needs to be redefined to include digital literacy, this study considers fintech adoption as an indicator of digital literacy. Here, its mediating role on the pathway from financial literacy to QoL is tested.…”

Section: Financial Literacy and Quality Of Life 1713mentioning

confidence: 99%

“…With the proliferation of smartphones and the development of fintech, financial services are increasingly digitalized. Kass-Hanna et al (2022) argue that it is crucial for traditional financial literacy to align with worldwide fintech development by integrating digital financial literacy. Similarly, J€ unger and Mietzner (2020) identify financial literacy as critical to the adoption of fintech products and services.…”

Section: 2mentioning

confidence: 99%

Financial literacy and quality of life: a moderated mediation approach of fintech adoption and leisure

Kakinuma

2022

IJSE

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PurposeThis study explores the relationship between financial literacy and quality of life (QoL). The study further examines the mediating effect of fintech adoption and the moderating effect of leisure on the relationship between financial literacy and QoL.Design/methodology/approachUsing convenience sampling, 345 respondents participated in a cross-sectional survey. To test the moderated mediation hypotheses, the PROCESS macro was used.FindingsThe results reveal the mediating effect of fintech adoption on the relationship between financial literacy and QoL, highlighting the importance of digital literacy in an increasingly digitalized society. Moreover, leisure moderates the mediating relationship. Individuals with high leisure are more likely to perceive the uncertainties and risks associated with new technology optimistically – an observation supported by existing literature on the relationships among leisure, perceived freedom, and internal locus of control.Practical implicationsFinancial literacy must incorporate digital literacy in order to utilize innovative technology for more efficient financial management. Additionally, having a sense of control over life outcomes can lead to well-being.Originality/valuePrevious research on fintech adoption is mostly related to financial inclusion for the unbanked population in underprivileged rural areas. Here, fintech usage by the general public is the focus. The study also reveals the significance of leisure, as those who have high financial literacy are more likely to adopt fintech when they have more freedom in their lives, which leads to higher QoL.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-10-2021-0633.

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“…Taking a financial approach involves advancing the knowledge of financial behavior in Africa such as decision-making, literacy and education, well-being and inclusion (Adeola and Evans, 2017; Refera et al , 2016). Financial decision-making is contingent on the level of financial literacy, highlighting the need for education and widespread access to information and service options (Chowa et al , 2012a; Kass-Hanna et al , 2021). Moreover, a study in South Africa indicated that perceived financial security has consequences for well-being and overall life satisfaction (Møller and Saris, 2001).…”

Section: Burning Service Research Topics In Africamentioning

confidence: 99%

Viewpoint: plotting a way forward for service research in and out of Africa

Boshoff

Adeola

Hinson

et al. 2022

JSM

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Purpose This study aims to critically evaluate and reflect on the current state of service research in Africa. The purpose is to develop a roadmap to guide future service research in and out of Africa. Design/methodology/approach This study is a conceptual reflection and in situ observation of service research and practice in Africa. Findings This study delineates scholarly, policy and managerial pathways for further service research in the African context. Service research in Africa is often experience-based rather than concept-based, and such research is often conducted in close collaboration with the local business community. Theoretical development and empirical exploration through collaboration initiatives among institutions with mutual research interests are encouraged. Research limitations/implications This study is a theoretical analysis of service research in Africa. Further empirical exploration is needed to delineate service research priorities and methodological directions so as to balance local needs and global relevance. Practical implications Africa represents fertile terrain for experience-based insights regarding financial behavior, ecosystem services and nation branding. Grassroots-level involvement in research represents a key component of managerial relevance. Social implications This study highlights the role of service research in and about Africa. The discussion demonstrates that the African Ubuntu values of community involvement and a collectivist orientation can expand the relevance of research from the academic business field to broader society. Originality/value This study represents a unique perspective on service research in the African context. In doing so, this paper lays the groundwork for more meaningful participation on the part of African-based researchers in the global service research domain. Experience-based research projects focusing on the empirical starting point complement theory development and serve as useful anchors for theory implementation in practice.

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Building financial resilience through financial and digital literacy in South Asia and Sub-Saharan Africa

Cited by 123 publications

References 57 publications

New Schemes for Investment in of Small and Medium-Sized Enterprises of China: Role of Access to Finance, Innovation, and Sustainability

New Schemes for Investment in of Small and Medium-Sized Enterprises of China: Role of Access to Finance, Innovation, and Sustainability

Financial literacy and quality of life: a moderated mediation approach of fintech adoption and leisure

Viewpoint: plotting a way forward for service research in and out of Africa

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