...SELF-CONTROL, FINANCIAL LITERACY, AND THE FINANCIAL BEHAVIORS OF YOUNG ADULTS Dissertation Presented in Partial Fulfillment of the Requirements for the Degree Doctor of Philosophy in the Graduate School of The Ohio State University By Jodi C. Letkiewicz, B.S., M.S. Graduate Program in Human Ecology ******* The Ohio State University 2012 Dissertation Committee: Dr. Jonathan Fox, Advisor Dr. Catherine P. Montalto Dr. Robert Scharff Dr. Caezilia Loibl Copyright by Jodi C. Letkiewicz 2012 ii ABSTRACT The objective of this paper is to determine whether financial literacy can moderate the effects that self-control has on financial outcomes. Financial literacy is an oft cited solution to the myriad financial complexities faced by consumers. If financial literacy is effective it should help consumers overcome issues of self-control to encourage more fiscally responsible behaviors. Both economic and psychological theories of self-control are explored, and a conceptual model using the Big Five personality trait of conscientiousness as a measure of self-control is utilized. Data for this study come from the 1997 National Longitudinal Survey of Youth (NLSY). Asset data in the study was collected in Rounds 9-13 when the respondents were 25 years old. The measure of conscientiousness was collected in Round 13 as part of the Ten-Item Personality Inventory...
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...| Inflation behavior in financial crisis. | | | MAY 4, 2011 INDEX INTRODUCTION | 3 | TYPES OF INFLATION | 4 | * MODERATE INFLATION | 4 | * RUNAWAY INFLATION | 4 | * HYPERINFLATION | 4 | INFLATION CAUSES | 4 | * DEMAND PULL INFLATION | 5 | * COST PUSH INFLATION | 5 | * BUILD-IN INFLATION | 5 | * FORMULA | 5 | INFLATION EFFECTS | 6 | * EXPECTED INFLATION | 6 | * UNEXPECTED INFLATION | 6 | HOW TO STOP INFLATION? | 7 | INFLATION IN DIFFERENT COUNTRIES | 8 | * GERMANY | 8 | * FRANCE | 9 | * MEXICO | 10 | * USA | 11 | * GREECE | 12 | CONCLUSION | 13 | REFERENCES | 14 | INTRODUCTION The main objective of this paper is to explain the behavior and the effects of the inflation from the financial crisis in several countries talking about inflation and the causes and effects and later comparing different significant countries. The economic crisis from 2008 to 2011 is known as the world economic crisis that began that year, originates in the United States. Among the main factors causing the crisis would be high raw material prices, the overvaluation of the products, a global food and energy crisis, high world inflation and global threat of a worldwide recession, also a credit, and trust and mortgage crises on the markets. The root cause of all crises according to Austrian business cycle theory is an artificial expansion of credit. The origin of the crisis comes from the strong expansion...
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...1. Identify the company and the ethical dilemma. Tyco International is a company in Switzerland that operates out of the US in New Jersey. Tyco International is made up of two departments’ fire protection and security systems. The issue with Tyco International is that the companies money was given to people that were unauthorized to have I which means that theft was happening with in the company 2. Analyze the key elements in the situation: a. Who benefited or was harmed? There were three people that benefited from this Mark A. Belnick, Mark H. Swartz, and Dennis Kozlowski How did they benefit? These three men benefited by starting a program that they benefited in the form of using Tyco stock, cash bonuses and forgiveness of loans and earning about 150 million between all three of the men. How were they harmed? The shareholders were the main people that were hurt were the shareholders were affected and harmed because there were not getting the right finances or accurate reports given to them such as annual reports because of misappropriated funds. This is called getting a cook book. b. What rights or claims were violated? The Security and Exchange Act of 1934 which is a law that governs secondary trading when it comes to bonds, debentures, and stocks. Also the Securities Act of 1933 which protects the offers and sells of securities and possibly part of RICCO was violated. c. What specific interests were in conflict? Mark H. Swartz's role as CFO requires him...
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... The article “Tales of Woe at Concord Bookshop” is about a small town bookshop that has been in existence for 64 years. Many people of the town enjoyed using the bookshop. The bookshop’s financial situation was considered to be the worst it had ever been, so the board of directors made a drastic decision to hire a new general manager. No changes were going to be made to any current employee. This paper will show the organizational change processes that were not implemented at the Concord Bookshop, which led to the change failure. The phases in an organizational change process are strategic renewal and organization change, behavioral changes, and employee participation and resistance to change. According to Spector (2010), strategic renewal requires organizational change and demands “wide-scale invention, reinvention, and redesign of business processes and organizational structures” (p. 4). For strategic renewal to be successful, organizations need to create new business models. The business model is the organizations approach to generating revenue and making a profit. Changing an existing business model is more difficult than starting a new one because changing an existing model requires organizational changes. These changes usually affect behavior patterns of existing employees. The employees of the Concord Bookshop were resistant to changes. The managers stated that the finances were not as bad as the board of directors made it sound...
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...Impact of Unethical Behavior Analysis Name ACC/291 Date Instructor Name The unethical practices & behavior in today’s business accounting often goes unchecked, because the actions directly affect management or executives, since they usually control this accounting hence the results. If someone thinks their job might be in jeopardy they may falsify thinks for these members of management. As it seems obvious, falsifying or altering business documents such as sales receipts, or tampering with reports would be considered unethical practices. According to Anonymous Employee (n.d.), "Among the most common unethical business behaviors of employees are making long-distance calls on business lines, duplicating software for use at home, falsifying the number of hours worked, or much more serious and illegal practices, such as embezzling money from the business, or falsifying business records.” (para. 1). Among those situational examples which include embezzlement of funds by an accountant from their employers for financial gain also include accountants receiving corporate pressure from their client to report false information and having unrealistic objectives and deadlines. “An accountant may decide to work for a company even though a conflict of interest may exist. If the accountant is owed money or has a significant stake in a firm, he or she may not be the ideal individual to prepare certain companies' financial statements.” (Jacobsen, 2008, para. 10). The Sarbanes-Oxley...
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...individual differences among people in behavior patterns, cognition and emotion. Different personality theorists present their own definitions of the word based on their theoretical positions. Individual differences in personality have many real life consequences. Personality Measures Personality determines a number of important characteristics and behaviors, including how people interact with others, what motivates them, and what they value. Our personality measures are among the most widely cited, highly regarded, and innovative assessments of normal-range personality. For use with normal and clinical populations, these measures are also used in a variety of settings, from career planning and marital counseling to leadership development and employment selection. THE MEASUREMENT OF PERSONALITY It should be pointed out that the various methods of assessing personality correspond closely to the basic personality theories we have just discussed. Personality Research Form The PRF is one of the most highly regarded measures of normal-range personality available. It is also one of the most highly cited psychological assessments, having been referenced 2000 times in research literature. Measuring Personality: Various Approaches Including Self-Report, Behavioral, and Projective Tests Self-report measures rely on the individual's personal responses. Some of the more widely used personality self-report measures Behavioral measures focus on behavior itself, rather than traits or other...
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...Organizational Behavior Paper Linda C. O’Neal MGT/312 - ORGANIZATIONAL BEHAVIOR FOR MANAGERS June 1, 2015 Professor Tina Emrich Organizational Behavior The study of organizational behavior is an academic discipline concerned with describing, understanding, predicting, and controlling human behavior in an organizational environment. Organizational behavior has evolved from early classical management theories into a complex school of thought—and it continues to change in response to the dynamic environment and proliferating corporate cultures in which today's businesses operate. Crafting an organization that functions as efficiently as possible is a difficult task. Understanding the behavior of a single person is a challenge. Understanding the behavior of a group of people, each one with a complex relationship with the others in the group is an even more difficult undertaking. It is, however a worthy undertaking because ultimately the work of an organization is done through the behavior driven actions of people, individually or collectively, on their own or in collaboration with technology. Therefore, a central part of the management task is the management of organizational behavior. The Behavioral Sciences Organizational behavior scientists study four primary areas of behavioral science: individual behavior, group behavior, organizational structure, and organizational processes. They investigate many facets of these areas like personality and perception, attitudes...
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...competence and behaviors expected of individuals belonging to any given profession. Professionalism in the workplace is based on many factors, including how you dress; carry yourself, your attitude and how you interact with others. The definition of professionalism indicates that each person perform their tasks with genuine earnest and honesty. It refers to a person doing his / her job with sincerity, and maintaining professional etiquette and ethics in the workplace. 2.Why is goal setting important? Setting goals is a fundamental component to long-term success. The basic reason for this is that you can’t get where you are trying to go until you clearly define where that is. Goals help you focus and allocate your time and resources efficiently, and they can keep you motivated when you feel like giving up. Furthermore, setting and achieving goals translates to feelings of success for both individuals and companies, which in turn spurs greater productivity and confidence. 3.What are Ways of teamwork in the physician’s office? Developing an effective and highly functional staff that puts practice performance first, though, is easier said than done. To a large degree, that’s because medical practices are comprised of a small group of people who work together but perform very different roles. As practice administrator, you can encourage teamwork by modeling good business behavior yourself. That means meeting regularly with your physicians and shareholders to discuss financial performance...
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...Stopping Malicious Behavior What is the problem? Can the field of fraud detection (and cyber security in general) be improved by new technology and approaches? If companies develop a program that searches for unusual activity by looking at risk factors then they could improve how they detect fraud. Since a lot of fraud detection is rule based, they have to develop a system that addresses the gray areas of their rules. For instance if a bank is looking for someone who transfers over $10,000 for one transaction in a day as an alert, then what happens if they separate the $10,000 into smaller payments? What happens if the malicious person makes sure to deposit just under $10,000 to avoid having alerts for their illegal actions? Addressing different patterns of new gray flavors of activity can help address management issues, overlapping issues and detection issues. Also developing better anomaly, link and predictive analysis can help guide fraud detection into greater improvements. Anomaly analysis consists of being able to identify risk using certain behaviors when someone doesn’t do things the normal way. The main issue with anomaly detection is there is a great challenge on managing the detection systems, certain behavior that you think is odd may be normal to a certain group of people, and that it is hard to make generalizations on new data. Link analysis develops relationships between different kinds of entities. Links can be made with how entities relate to...
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...judgments about at least three types of symptoms: physical, behavioral, and psychological” (2010, p. 223). This paper will examine a psychological disorder and discuss the relationship between human development and socialization of this psychological disorder. People tend to be reluctant or afraid of behaviors that do not look familiar or fit into their cultural norms. Symptoms are reported and diagnostics according what is accepted in that cultural and for people who practice particular religions. Different cultures have their own set of behavioral norms that they follow to maintain structure. Therefore, understanding behavior from other cultures may be significantly difficult to relate too. The text refers to this type of view as the relativist perspective on psychopathology because it gives a comparison to unique cultural perspective of psychological disorders. Another perspective is called the universalist perspective on psychopathology because it suggests the absolute continual of ideas and attitudes that people share despite cultural differences. It is common in some cultures to treat an illness as a disorder and label it as such. It is likely to consider normal behavior as abnormal and vice versa in different cultures. American clinicians use the DSM-IV to diagnose mental disorders. However, every illness is not found in the DSM-IV. Anxiety Disorder Anxiety disorder is a term used to describe universal experiences of fear, worry, and apprehension that can be disruptive...
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...It is important that diverse approaches are used and staff is involved in planning for a change. Change is always aimed for improvement and betterment but oftentimes met with resistance, particularly if the dynamics are not analyzed carefully. When a company’s financial aspect is considered, it is even harder to create a change without affecting the staff. Strategic Renewal Strategic renewal is a modification of plan or approach to recover and adapt to current changes in a today’s competitive environment. Altering a strategy entails changes in the organization, whether it pertains to services or product, or building a new plan for improved competencies and management. Using a business model is one way an organization creates changes for a more profitable outcome. There are challenges, though, as an organization create a new business model because changing a present model does not always mean success. Sometimes when a business model is altered, resistance is met and changes are not welcome therefore new system fails. To avoid these failures, effective management, and efficient leaders are needed to implement changes. Behavioral Change Employee behavior refers to how an employee performs his responsibility within the company. This involves how employees relate to...
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...An Analysis on How to Handle Dysfunctional Customers And how they affect on Food Servers in selected Restaurants at Eastwood City ------------------------------------------------- A Method of Research and Thesis Paper Presented to the Faculty of the Hotel and Restaurant Management Arellano University - Pasig ------------------------------------------------- In Partial Fulfilment of the Requirement for the Degree in Bachelor of Science in Hotel and Restaurant Management Presented By: Calinao, Loreinn G. Tierra, Alyssa Marie G. Encio, Mary Bless Estrada, Erik E. Romero, Jerry Arellano University – Pasig Pag-Asa St. Brgy. Caniogan Pasig City Approval Sheet In partial fulfillment of the requirements for the degree of Bachelor of Science in Hotel and Restaurant Management this Method of Research entitled “AN ANALYSIS ON HOW TO HANDLE DYSFUNCTIONAL CUSTOMERS AND HOW THEY AFFECT FOOD SERVERS IN SELECTED RESTAURANTS IN EASTWOOD CITY” was prepared and submitted to the College of Hotel and Restaurant Management. PROF. LOUIE REYES Adviser Approved by the members of panel on October 2014. With a grade of ____ ________________________________________ Chairman _______________ _______________ _______________ Member Member Member Accepted in partial fulfillment of Bachelor of Science in Hospitality and Restaurant Management PROF. KATHERINE GUEVARRA ...
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...definition and the identification of a set of genetic or neurobiological markers for ASD represent descriptive models of the disorder. Morton and Firth (1995) have argued that in order to develop a caused model of ASD a third level of explanation, the cognitive or psychological level, is necessary to bridge the gap between the biological and behavioral levels. In order to understand the mechanisms by which genes and neurobiology influence behavior, it is necessary to understand the cognitive processes that mediate that behavior, there is arguably no direct link between biology and behavior in ASD. Cognitive accounts are essential to understand ASD (Brookman-frazee,...
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...CHAPTER ONE INTRODUCTION 1.1 Background to the study Broken home is a worldwide problem and it occurs in a situation whereby the parent are not able to cope with each other may be as a result of financial constraint or incompactibility of their behavior hence the child live with either of the parents. The parents in order to make bolt ends meet will not be at home most of the time. The child is deprived of love and affection and parent s enlightenment and motivation on how to go about things. The family in this situation becomes less important as an educating an gent where the parents the child is living will have to re – marry , either the man or woman, the child may not be acceptable by the step parent. Thus, such a child becomes a liability instead of an asset. The child may be maltreated in various forms. That is the child may not be given adequate food and money to school and will therefore be exposed to stealing or running away to do meager jobs to feed him or her self. The child at this adolescent age wants independence from the family but attaining adult status and developing as a unique individual needs guidance which may be lacking in this situation . The family could no longer prepare the child for traditional adult role which he/she is expected to play in the society. So the child finds it difficult to formulate values acceptable to his /her own group, to parent and to cultural mores. In the course of adolescent development task, the home is of greatest...
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...Patel Institute of BMC & IT, Uka Tarsadia University,Tarsadi,Bardoli. Asst. Prof., Department of Commerce, B.V.Patel Institute of BMC & IT, Uka Tarsadia University,Tarsadi,Bardoli. Asst. Prof., Department of Accountancy, DRB Commerce College,Veshu,Bharthan,Surat. This paper aims to identify the factors that affect consumers purchasing behavior towards Agriculture inputs like fertilizer, seeds, agrochemicals, oils and lubricants etc. Buying behavior refers to the act of consumers obtaining and using goods and services and the decision process that determines these acts. Buying decision is a set of many decisions which may involve a product, brand, style, quality, dealer, time, price and mode of payment. Price is the most important consideration at the time of purchasing agriculture inputs followed by packaging and branding, fair billing and home delivery are considered relatively less important. An attempt had been made to find out the problems faced by the farmers and this study will also help to understand the factors affecting the buying behavior of farmers toward Agriculture inputs. KEYWORDS: Agriculture Inputs, farmers, buying behavior INTRODUCTION Agriculture inputs are broadly classified into consumable and durables. Consumables comprises inputs like seeds, fertilizers, agrochemicals, oils and lubricants, whereas durables includes tractor, Agriculture machinery (threshers, harvesters etc.), agro implements and tools like cultivators, wheel harrow etc. In Gujarat both...
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