PERSONAL FINANCE CONFERENCE

Previously Published Papers on "Personal Finance Conference"

• The Impact of Digital Inclusive Finance on the High-Quality Development of China's Export Trade

  Authors: Yao Wu, Keywords: Digital inclusive finance, high-quality development of export trade, fixed effects, binary marginal effects. DOI:10.5281/zenodo. Abstract: In the context of financial globalization, China has put forward the policy goal of high-quality development, and the digital economy, with its advantage of information resources, is driving China's export trade to achieve high-quality development. Due to the long-standing financing constraints of small and medium-sized export enterprises, how to expand the export scale of small and medium-sized enterprises has become a major threshold for the development of China's export trade. This paper firstly adopts the hierarchical analysis method to establish the evaluation system of high-quality development of China's export trade; secondly, the panel data of 30 provinces in China from 2011 to 2018 are selected for empirical analysis to establish the impact model of digital inclusive finance on the high-quality development of China's export trade; based on the analysis of the heterogeneous enterprise trade model, a mediating effect model is established to verify the mediating role of credit constraint in the development of high-quality export trade in China. Based on the above analysis, this paper concludes that inclusive digital finance, with its unique digital and inclusive nature, alleviates the credit constraint problem among SMEs, enhances the binary marginal effect of SMEs' exports, optimizes their export scale and structure, and promotes the high-quality development of regional and even national export trade. Finally, based on the findings of this paper, we propose insights and suggestions for inclusive digital finance to promote the high-quality development of export trade.

• A Mixed Approach to Assess Information System Risk, Operational Risk, and Congolese Microfinance Institutions Performance

  Authors: Alfred Kamate Siviri, Angelus Mafikiri Tsongo, Jean Robert Kala Kamdjoug, Keywords: information system risk, operational risk, microfinance performance, DR Congo DOI:10.5281/zenodo. Abstract: Well organized digitalization and information systems have been selected as relevant measures to mitigate operational risks within organizations. Unfortunately, information system comes with new threats that can cause severe damage and quick organization lockout. This study aims to measure perceived information system risks and their effects on operational risks within the microfinance institution in D.R. Congo. Also, the factors influencing the operational risk are to be identified, and the link between operational risk with other risks and performance is to be assessed. The study proposes a research model drawn on the combination of Resources-Based-View, dynamic capabilities, the agency theory, the Information System Security Model, and social theories of risk. Therefore, we suggest adopting a mixed methods research with the sole aim of increasing the literature that already exists on perceived operational risk assessment and its link with other risk and performance, with a focus on information system risks.

• Lexicon-Based Sentiment Analysis for Stock Movement Prediction

  Authors: Zane Turner, Kevin Labille, Susan Gauch, Keywords: Lexicon, sentiment analysis, stock movement prediction., computational finance. DOI:10.5281/zenodo. Abstract: Sentiment analysis is a broad and expanding field that aims to extract and classify opinions from textual data. Lexicon-based approaches are based on the use of a sentiment lexicon, i.e., a list of words each mapped to a sentiment score, to rate the sentiment of a text chunk. Our work focuses on predicting stock price change using a sentiment lexicon built from financial conference call logs. We present a method to generate a sentiment lexicon based upon an existing probabilistic approach. By using a domain-specific lexicon, we outperform traditional techniques and demonstrate that domain-specific sentiment lexicons provide higher accuracy than generic sentiment lexicons when predicting stock price change.

• Consequential Influences of Work-Induced Emotions on the Work-Induced Happiness of Frontline Workers in Finance-Oriented Firms

  Authors: Mohammed-Aminu Sanda, Emmanuel K. Mawuena, Keywords: Client-service activity, finance industrial sector, frontline workers, work-induced emotion, work-induced happiness. DOI:10.5281/zenodo. Abstract: Frontline workers performing client service duties in finance-oriented firms in most sub-Saharan African countries, such as Ghana, are known to be challenged in the conduct of their activities. The challenge is attributed to clients’ continued demand for real-time services from such workers, despite the introduction of technological interventions to offset the situation. This has caused such frontline workers to experience increases in their work-induced emotions with consequential effects on their work-induced happiness. This study, therefore, explored the effect of frontline workers’ work-induced emotions on their worked-induced happiness when providing tellering services to clients. A cross-sectional design and quantitative technique were used. Data were collected from a sample of 280 frontline workers using questionnaire. Based on the analysis, it was found that an increase in the frontline workers’ work-induced emotions, caused by their feelings of strain, burnout, frustration, and hard work, had consequential effect on their work-induced happiness. This consequential effect was also found to be aggravated by the workers’ senses of being stretched beyond limit, being emotionally drained, and being used up by their work activities. It is concluded that frontline workers in finance-oriented firms can provide quality real-time services to clients without increases in their work-induced emotions, but with enhanced work-induced happiness, when the psychological and physiological emotional factors associated with the challenged work activities are understood and remedied. Management of the firms can use such understanding to redesign the activities of their frontline workers and improve the quality of their service delivery interactivity with clients.

• Privacy Protection Principles of Omnichannel Approach

  Authors: Renata Mekovec, Dijana Peras, Ruben Picek, Keywords: Personal data, privacy protection, omnichannel communication, retail. DOI:10.5281/zenodo. Abstract: The advent of the Internet, mobile devices and social media is revolutionizing the experience of retail customers by linking multiple sources through various channels. Omnichannel retailing is a retailing that combines multiple channels to allow customers to seamlessly leverage all the distribution information online and offline while shopping. Therefore, today data are an asset more critical than ever for all organizations. Nonetheless, because of its heterogeneity through platforms, developers are currently facing difficulties in dealing with personal data. Considering the possibilities of omnichannel communication, this paper presents channel categorization that could enhance the customer experience of omnichannel center called hyper center. The purpose of this paper is fundamentally to describe the connection between the omnichannel hyper center and the customer, with particular attention to privacy protection. The first phase was finding the most appropriate channels of communication for hyper center. Consequently, a selection of widely used communication channels has been identified and analyzed with regard to the effect requirements for optimizing user experience. The evaluation criteria are divided into 3 groups: general, user profile and channel options. For each criterion the weight of importance for omnichannel communication was defined. The most important thing was to consider how the hyper center can make user identification while respecting the privacy protection requirements. The study carried out also shows what customer experience across digital networks would look like, based on an omnichannel approach owing to privacy protection principles.

• Cultural Effects on the Performance of Non- Profit and For-Profit Microfinance Institutions

  Authors: Patrick M. Stanton, William R. McCumber, Keywords: Hofstede cultural dimensions, international finance, microfinance institutions, non-profit. DOI:10.5281/zenodo. Abstract: Using a large dataset of more than 2,400 individual microfinance institutions (MFIs) from 120 countries from 1999 to 2016, this study finds that nearly half of the international MFIs operate as for-profit institutions. Formal institutions (business regulatory environment, property rights, social protection, and a developed financial sector) impact the likelihood of MFIs being for-profit across countries. Cultural differences across countries (power distance, individualism, masculinity, and indulgence) seem to be a factor in the legal status of the MFI (non-profit or for-profit). MFIs in countries with stronger formal institutions, a greater degree of power distance, and a higher degree of collectivism experience better financial and social performance.

• Emotional Association Theory as a Key to Proper Strategy Implementation

  Authors: Abdullah Almahzari, Keywords: Emotional Association Theory, motivation, implementation, employees, leadership model, personal traits DOI:10.5281/zenodo.3607588 Abstract: Emotional Association (EA) Theory deals with the psychological attachment of the employees to their employer as a focal way of awakening employees’ productivity, innovativeness, and creativity towards achieving a common cause within an organization. The objectives of this paper include: to comprehend the forms of motivation at workstation as provided by the Emotion Association Theory; to improve access to the skills relevant for a good working environment; to raise new skills through knowing the power to influence employees; to improve communication skills as well as researching current leaders and their leadership skills. The paper makes use of descriptive and intervention by examining the effect of motivation on employees. The method makes use of psychological EA theory that analyses the 3E leadership model to impact the ability to adopt the organization’s policy and employee productivity. In this case, the method will assess the workplace culture by assessing personal values and qualities that make master manager in organizations. In addition, the method will apply the theory to support the positive work engagement and its successful implementation to effectively influence employee productivity. The findings of this research showcase the significance motivating employees to increase their productivity as provided by the theory. Nonetheless, it improves sense of belonging among workers in a firm since it is employee-oriented. In addition, it works upon unification of workers within a workplace through mutual respect and empathy which promotes competence and policy implementation. Therefore, emotionally related qualities ignite motivation in workers.

• Market Acceptance of a Murabaha-Based Finance Structure within a Social Network of Non-Islamic Small and Medium Enterprise Owners in African Procurement

  Authors: Craig M. Allen, Keywords: Africa, entrepreneurs, Islamic finance, market acceptance, Murabaha, SMEs. DOI:10.5281/zenodo.2643888 Abstract: Twenty two African entrepreneurs with Small and Medium Enterprises (SMEs) in a single social network centered around a non-Muslim population in a smaller African country, selected an Islamic financing structure, a form of Murabaha, based solely on market rationale. These entrepreneurs had all won procurement contracts from major purchasers of goods within their country and faced difficulty arranging traditional bank financing to support their supply-chain needs. The Murabaha-based structure satisfied their market-driven demand and provided an attractive alternative to the traditional bank-offered lending products. The Murabaha-styled trade-financing structure was not promoted with any religious implications, but solely as a market solution to the existing problems associated with bank-related financing. This indicates the strong market forces that draw SMEs to financing structures that are traditionally considered within the framework of Islamic finance.

• Strengthening Legal Protection of Personal Data through Technical Protection Regulation in Line with Human Rights

  Authors: Tomy Prihananto, Damar Apri Sudarmadi, Keywords: Indonesia, protection, personal data, privacy, human rights, encryption. DOI:10.5281/zenodo.1474387 Abstract: Indonesia recognizes the right to privacy as a human right. Indonesia provides legal protection against data management activities because the protection of personal data is a part of human rights. This paper aims to describe the arrangement of data management and data management in Indonesia. This paper is a descriptive research with qualitative approach and collecting data from literature study. Results of this paper are comprehensive arrangement of data that have been set up as a technical requirement of data protection by encryption methods. Arrangements on encryption and protection of personal data are mutually reinforcing arrangements in the protection of personal data. Indonesia has two important and immediately enacted laws that provide protection for the privacy of information that is part of human rights.

• Impact of Brand Origin on Brand Loyalty: A Case of Personal Care Products in Pakistan

  Authors: Aimen Batool Bint-E-Rashid, Syed Muhammad Dawood Ali Shah, Muhammad Usman Farooq, Mahgul Anwar, Keywords: Brand awareness, brand loyalty, brand origin, personal care products, P&G, Unilever. DOI:10.5281/zenodo.1340609 Abstract: As the world is progressing, the needs and demands of the consumer market are also changing. Nowadays the trends of consumer purchase decisions are dependent upon multiple factors. This study aims to identify the influential impact of country of origin over the perception and devotion towards daily personal care products specifically in reference to the knowledge and awareness regarding that particular brand in Pakistan. To corroborate this study, a 30-item brand origin questionnaire has been used with 300 purchase decision makers belonging to different age groups. To illustrate this study, a model has been developed based on brand origin, brand awareness and brand loyalty. Correlation and regression analysis have been used to find out the results which conclude the findings on the perspective of Pakistan’s consumer market as that brand origin has a direct relationship with brand loyalty provided that the consumer has a positive brand awareness. Support for the fact that brand origin impacts brand loyalty through brand awareness has been presented in this study.