Principles of Corporate Finance - 4/E

Purpose – The purpose of this paper is to contribute to the understanding of mission statement contents and its function in guiding employee's behaviour from the organisational culture (OC) perspective Design/methodology/approach – The research is based on a mixed method approach The quantitative content analysis of mission statements was performed on a sample of 222 Slovenian companies Mission statement's keywords were analysed with exploratory factor analysis Advanced network analytic approaches such as PathFinder algorithm were utilised to obtain better understanding of interrelatedness of underlying mission components Three interviews with the top managers were performed as well Findings – The mission statement content analysis identified five associated organisations’ orientations: concern for stakeholders, orientation towards stability, orientation towards cooperation and innovation, and development and growth The interviews confirm missions’ role in communicating the espoused or declared OC,

The mission statement: organisational culture perspective

The purpose of this paper is to explore the impact of financial literacy on financial well-being among the business school faculties. Both the variables (financial literacy and financial well-being) are operationalized as multi-dimensional constructs to undertake the study. Moreover, the paper also endeavored to examine the mediating role of financial self-efficacy between financial literacy and financial well-being. The paper adopts a survey by questionnaire method to gather data from 203 business school faculty members through the simple random sampling (SRS) technique. Confirmatory factor analysis was used for scale validation, and structural equation modeling was used for hypotheses testing. Mediation was tested using percentile bootstrap with a 95% confidence interval. The study found a significantly positive impact of financial literacy as well as its dimensions on financial self-efficacy and financial well-being. It was also found that financial self-efficacy partially mediates the effect of financial literacy on financial well-being. Measurement of the constructs was done on subjective measures, and the study is limited to business school faculties only. The present research findings could be employed in crafting educational programs for business schools. These programs shall guide such institutions in imparting the knowledge and skills among students regarding their personal finances in terms of savings and retirement planning. The study was focused on the business school faculties of the Jammu and Kashmir region, who are less exposed to the financial literacy programs due to factors like frequent lockdown and internet shutdowns. Moreover, it is generally witnessed that salaried class people in Jammu and Kashmir pay less attention to long-term financial planning for retirement, which makes the present study more relevant. Therefore, this study will prove beneficial to all the employees, especially the business school faculties, to understand the importance of financial literacy and its subsequent effect on financial well-being. 

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Impact of financial literacy on financial well-being: a mediational role of financial self-efficacy

The role of social capital for teacher professional learning and student achievement: A systematic literature review

Governments of OECD countries are under pressure to improve public sector performance and at the same time to reduce the government expenditure. In the process of improvement of public sector performance it is necessary ensure the efficiency in the provision of education, at the same time, the countries are required to provide their educational services by minimizing the amount of public money directed to them. This prompted us to implement the comparative study to assess the efficiency of government expenditure on secondary education in European countries in 2015. First we analyze the government expenditure based on the data published by International Monetary Fund (IMF). Second, we analyze the quality of education through the PISA indicators published by OECD. Then we apply the Data Envelopment Analysis (DEA) to assess the relative efficiency of government expenditure on secondary education using output-oriented model under the assumption of variable return to scale. Based on the results could it be said that average efficiency was 0.955 which suggests that the efficiency in evaluated countries was relatively high. Received: December, 2016 1st Revision: May, 2017 Accepted: May, 2017 DOI: 10.14254/20718330.2017/10-2/23 Journal of International Studies Vol.10, No.2, 2017 330

/pdf/relative-efficiency-of-government-expenditure-on-secondary-2kg8dy3oe6.pdf

Relative efficiency of government expenditure on secondary education

The changes of economic, demographic, technologic and other conditions in Europe and the world leads to a delegation of responsibility in the field of financial activities and the security of individuals as consumers (also the young) from the country and institutions to individuals. Above all they also modify the habits, requirements, expectations and behaviour of individuals and the forms of risk they are exposed to. The appropriate system of financial education stimulates different factors of an active citizenship like socially responsible behaviour and decision, cooperation, better mobility and the rise of ethics and morals. So the level of risk lowers significantly in the field of the financial activity of individuals. Individuals improve with the appropriate level of financial literacy their understanding of financial products and concepts. The financial literacy is worldwide acknowledged as an important element of the economic and financial stability and development. Early enough the individuals who are able to financial literacy contribute positively also to an effective function of the financial system, economy and the society generally. Financial education represents a lifelong process. The article presents the meaning of financial education in the modern society of economic changes. The advantages of financial education for individuals, economy and society are presented. In the article a suggestion of the concept of financial education and the position of financial education within public policy on national level is presented.

The Meaning and Concept of Financial Education in the Society of Economic Changes

Increasing life expectancy at birth is a huge achievement for a society; however it also brings many challenges and requires a society to constantly adapt to demographic consequences. In our research, we investigate life expectancy determinants and the role of a country's education level among them. Using multiple regression analysis on cross-section data of 187 countries around the world we confirm our main research thesis that a country's education level is an important determinant of life expectancy at birth and three separate hypotheses regarding life expectancy determinants. The main contribution of this research is the empirically tested regression model of life expectancy determinants. The results of the research confirm a strong importance of a country's education level and imply that societies should encourage education among young people as well as education of adults through lifelong learning programmes.

The role of expected years of schooling among life expectancy determinants

Career Opportunities for PhD Graduates in the knowledge-based Economy: Case of Slovenia

The purpose of this paper is to investigate the influence of the status of women in society over life expectancy at birth. Based on the data of some of the socio-economic variables for 187 countries worldwide, collected by the United Nations within United Nations Development Programme – Human Development Report, we developed a regression model of life expectancy factors. Through empirical testing of the three hypotheses which refer to different aspects of the status of women in society, we found that the employment ratio between women and men has a statistically significant negative impact on life expectancy at birth, which is, at least at first glance, unexpected. At the same time, the number of teenage births per 100 women aged 15–19 as well as gender inequality has a statistically significant negative impact on life expectancy at birth.

Status of Women in Society and Life Expectancy at Birth

Today European banking is in a great financial as well as a moral and ethical crisis. The purpose of this paper is to examine the strategies and best practices in the field of education and training for financial literacy in EU, emphasising the development of this field in Slovenia. Within the existing content, we studied general financial literacy of Slovenians; we investigated what the perception of activities of Slovenian banking institutions is in order to increase financial literacy clients and what is their financial knowledge. Based on customer survey, we determined the role of banking institutions as educators of users of banking services. The research confirmed that the activities carried out by banking institutions in order to improve the financial situation of their customers are effectively raising financial literacy.

/pdf/education-and-training-for-financial-literacy-the-role-of-3c3our2jhj.pdf

Education and training for financial literacy: the role of banks - case study Slovenia

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