Raising achievement among microentrepreneurs: An experimental test of goals, incentives, and support groups in Medellin, Colombia

Aguinaga, Paulina; Cassar, Alessandra; Graham, Jennifer; Skora, Lauren; Wydick, Bruce

doi:10.1016/j.jebo.2019.02.017

Cited by 3 publications

(9 citation statements)

References 40 publications

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“…We have demonstrated that economic enfranchisement is an important antecedent to setting strong personal economic goals and that there is a deep literature demonstrating the importance of goal setting in personal financial improvement (Aguinaga et al, 2019;Heath et al, 1999;Lybbert and Wydick, 2018). While further research is needed to fully understand the factors that contribute to people feeling economically enfranchised, we can say that economic enfranchisement is associated with certain personal attributes (Table 9).…”

Section: Encouraging Economic Enfranchisementmentioning

confidence: 86%

“…While the desired outcomes of goals are important for many individuals wishing to change their financial situation, it has been shown that the mere act of setting goals can improve outcomes. A study by Aguinaga et al (2019) examined the effects of various interventions designed to help bring individuals out of poverty. Subjects participated in an experiment where they were asked to set a goal each month (selected from a list compiled by the researchers) and surveyed over the course of the months, where they were also randomly assigned to other interventions such as attending support groups or given monetary incentives for completing goals, or given no intervention beyond goal setting.…”

Section: Goals and Aspirationsmentioning

confidence: 99%

“…Previous research has shown that goal setting is an effective mechanism for economic mobility; simply having a goal to improve one's financial well-being (FWB) has shown to increase outcomes, regardless of effort put forth toward achieving the goal (Aguinaga et al, 2019). However, there are still many uncertain factors related to goal setting such as "what leads individuals to set financial goals?"…”

Section: Introductionmentioning

confidence: 99%

“…Additionally, much of the research surrounding goals focuses on effort put toward achieving them or outcomes once an exogenously dictated goal is set (Wuepper and Lybbert, 2017). Despite research indicating the importance of setting goals (Aguinaga et al, 2019), little research has been conducted surrounding why some people set goals and others do not.…”

Section: Introductionmentioning

confidence: 99%

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Economic Enfranchisement, Goal Setting, and Rural Development

Hackett

Watson²

2022

J. Agric. Appl. Econ.

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This analysis introduces a conceptual framework for economic enfranchisement and studies its effect on an individual’s likelihood to set strong financial goals. A conceptual and empirical model is developed to investigate how economic enfranchisement influences an individual’s likelihood to set a goal and the strength of that goal. The empirical analysis employs an ordered probit to account for the two-stage goal-setting and goal strength decision process. Results show that economic enfranchisement has a significant effect on an individual’s likelihood to set financial goals where more enfranchised individuals are more likely to set strong goals than their disenfranchised counterparts.

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Section: Encouraging Economic Enfranchisementmentioning

confidence: 86%

Section: Goals and Aspirationsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Economic Enfranchisement, Goal Setting, and Rural Development

Hackett

Watson²

2022

J. Agric. Appl. Econ.

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“…Las metas trazadas son compromisos, los cuales hacen que las personas tengan un mayor esfuerzo del que tuvieran sin metas, y los incentivos también son considerados como metas, y pueden hacer que haya un mayor rendimiento en un equipo de trabajo (Aguinaga, Cassar, Graham, Skora y Wydick, 2019). Estos incentivos hacen que las personas tengan una confianza que se ve forzada a desarrollarse.…”

Section: Confianzaunclassified

La confianza entre directivos-colaboradores y su influencia en las finanzas

Rodríguez¹,

Sanjuan²

2019

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For years many companies have wondered how to create a true trust between their managers and collaborators, which benefits both parties and leads organizations to reach the top places in their business as a result of this relationship. But this directivecollaborative relationship has many aspects that must be taken into account to understand how different characteristics of human beings influence the results of the organization. The generation of trust may depend on factors surrounding the managerial-collaborative relationship, such as organizational climate and leadership, competencies and managerial virtues, emotional intelligence, and self-confidence. Which will be analyzed to understand how these variables influence this employment relationship. The finances are influenced by trust, as they are the reflection of the work between managers-collaborators, and if these two improve their relationship this will be reflected in the profits of a company, since every organization must first function internally and then externally with the clients, Richard Brandson, creator of the virgin group, one of the most prestigious groups of companies in the world, said in an interview that if you take care of your employees, they will take care of your clients (Cárdenas, 2015).

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