Role of broker’s information transparency in determining individual investor’s financial wellbeing: A transformative service research (TSR) perspective

Naveed, Muhammad; Atia, Bajwa; Ali, Shoaib

doi:10.22201/fca.24488410e.2022.3073

Cited by 3 publications

(3 citation statements)

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“…TSR advocates making inspiring transformations and improvements in the delivery of services, with the aim of enhancing the well-being of individuals and communities (Anderson et al, 2013;Ostrom et al, 2021;Blocker et al, 2022). The formal financial services providers can enhance consumers' well-being with better decisions and product offerings (Muhammad et al, 2022;Naveed et al, 2021;Kamran and Uusitalo, 2019) and research can certainly facilitate their decisions. Social, healthcare and financial services are considered important to the TSR agenda (Anderson et al, 2013;Rosenbaum et al, 2022), but few studies have investigated how service firms can enhance the well-being of consumers (Anderson et al, 2013;Rosenbaum, 2015;Rosenbaum et al, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

“…, 2021; Blocker et al ., 2022). The formal financial services providers can enhance consumers’ well-being with better decisions and product offerings (Muhammad et al ., 2022; Naveed et al ., 2021; Kamran and Uusitalo, 2019) and research can certainly facilitate their decisions. Social, healthcare and financial services are considered important to the TSR agenda (Anderson et al.…”

Section: Literature Reviewmentioning

confidence: 99%

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How informal financial service institutes facilitate the financial inclusion of low-income, unbanked consumers

Kamran,

Uusitalo

2024

IJBM

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PurposeThe present study aimed to provide an understanding of the roles of community-based financial service organizations (i.e. rotating savings and credit associations [ROSCAs] as institutional pillars in facilitating low-income, unbanked consumers’ access to informal financial services).Design/methodology/approachSemi-structured interviews were conducted with 39 low-income, unbanked consumers participating in ROSCAs in Pakistan, where only 21% of adults have a bank account and almost four out of five individuals live on a low income. The obtained data were analyzed using the thematic analysis technique.FindingsROSCAs’ regulatory, sociocultural and cognitive aspects facilitate low-income, unbanked consumers’ utilization of informal financial services owing to their approachability by, suitability for, and fairness to such consumers. Thus, they promote such consumers’ financial inclusion.Practical implicationsLow-income consumers are mostly unable to access formal financial services due to the existing supply- and demand-side impediments. Understanding ROSCAs’ institutional functioning can help formal financial service providers create more transformative financial services based on the positive institutional aspects of ROSCAs to enhance poor consumers’ financial inclusion and well-being.Social implicationsThe inclusion of low-income, unbanked consumers in formal banking services will help them better control their finances.Originality/valueMany low-income, unbanked consumers in developing countries utilize informal financial services to meet their basic financial needs, but service researchers have rarely investigated how informal financial institutions function. The present study showed that ROSCAs, as informal institutions, meet low-income, unbanked consumers’ personal, social and financial needs in a befitting manner, which encourages such consumers to use the financial services offered by ROSCAs.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

How informal financial service institutes facilitate the financial inclusion of low-income, unbanked consumers

Kamran,

Uusitalo

2024

IJBM

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“…Currently ChatGPT has a lot of features such as it can mimic the tone of a famous in its text, it can also help in coding and debugging a code, it can also help in writing fantasy stories, essays, answering questions and answers of a test, proof read and translate and summarize a text in simpler terms these are just basic features, one can also get creative with your prompts and give it a more complex and creative task to create (WIKIPEDIA, 2023). Along with its features there are some limitations to this AI, such as it can give incorrect answers even though they sound right, it is also sensitive to prompts for example if one ask a question with certain phrases, it will claim that it does not know the answers but if one tweak the phrases, it can answer the question correctly (Muhammad, Atia & Shoaib, 2022). ChatGPT frequently uses certain phrases which is another limitation.…”

Section: Literature Reviewmentioning

confidence: 99%

Effects of ChatGPT on Students Academic Performance:Mediating Role of Prompt Engineering

Shehri,

Maham,

Malik

et al. 2023

ABBDM

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This paper focuses on the use of advanced machine learning models, such as ChatGPT, in education. ChatGPT, a language learning model by OpenAI, has shown potential for reshaping education through enhanced teaching methods, increased student engagement, and personalised learning experiences. Despite these promising features, the potential drawbacks of the technology remain unclear. This paper seeks to examine the impacts of ChatGPT on students' academic performance, with a special emphasis on the role of 'prompt engineering' in this context. This research employs a quantitative method to examine the impact of ChatGPT on student academic performance in various universities across Pakistan. An online survey was distributed, garnering responses from 37 students at several institutions. The questions focused on demographic details and the impact of ChatGPT on academic performance parameters such as learning, quality of work, and creativity, with the role of prompt engineering as a mediating factor. Data was analysed using SPSS, with Cronbach's alpha used to ensure reliability and internal consistency of the responses, which showed a high degree of correlation among responses. The results indicated a positive relationship between the use of ChatGPT and academic performance (Naveed et al., 2023). However, while most students were aware of ChatGPT's capabilities, the majority did not use it for examination preparation. The study also found that prompt engineering played a mediating role between ChatGPT usage and student academic performance, highlighting the importance of effective prompt design in optimising the benefits of AI in educational settings.

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Does Risk Tolerance Mediates the Relationship Between Financial Literacy and Financial Wellbeing During COVID-19: Empirical Evidence From an Emerging Economy

Naveed,

Ali

2024

Sage Open

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This study aims to explore the role of financial literacy in determining financial well-being during COVID-19. Additionally, we plan to examine how risk tolerance mediates between financial literacy and overall well-being. The data of 367 active individual investors on the Pakistan Stock Exchange was taken utilizing convenience sampling and the survey methodology. The relationship between financial literacy, risk tolerance, and financial well-being was investigated using structural equation modeling. The data were analyzed through Smart PLS. The finding of the study highlights that both advance and basic financial literacy have a positive and significant association with investor well-being. Furthermore, financial literacy has a favorable indirect impact on financial well-being highlighted in this study through risk tolerance. The effect of financial literacy on financial well-being was remarkably consistent across levels of demographic variables such as education, gender and age suggesting that improving financial literacy levels in the population may be an effective strategy to increase financial capability across the board during the COVID-19 crisis. The outcome of the study has several policy implications for investors and policymakers during uncertain times such as COVID-19, as providing literacy positively contributes to their risk tolerance which then translates into higher financial well-being. The paper’s novelty is that the authors have explored the mechanism by which basic and advanced levels of financial literacy influence investors’ risk tolerance and financial well-being during the COVID-19 pandemic in an emerging economy. It adds to the literature in behavioral finance, explicitly probing the impact of financial literacy on financial well-being; this field is in its initial stage, even in developed countries, while little work has been done in emerging countries. JEL Classification: B21, D01, D91, G11, J26, H31.

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Role of broker’s information transparency in determining individual investor’s financial wellbeing: A transformative service research (TSR) perspective

Cited by 3 publications

References 46 publications

How informal financial service institutes facilitate the financial inclusion of low-income, unbanked consumers

How informal financial service institutes facilitate the financial inclusion of low-income, unbanked consumers

Effects of ChatGPT on Students Academic Performance:Mediating Role of Prompt Engineering

Does Risk Tolerance Mediates the Relationship Between Financial Literacy and Financial Wellbeing During COVID-19: Empirical Evidence From an Emerging Economy

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