Search results for: Financial innovation

Authors: R. Hashim, A. J. Bock, S. Cooper

Abstract:

Absorptive capacity generally facilitates the adoption of innovation. How does this relationship change when economic return is not the sole driver of innovation uptake? We investigate whether absorptive capacity facilitates the adoption of green innovation based on a survey of 79 construction companies in Scotland. Based on the results of multiple regression analyses, we confirm that existing knowledge utilisation (EKU), knowledge building (KB) and external knowledge acquisition (EKA) are significant predictors of green process GP), green administrative (GA) and green technical innovation (GT), respectively. We discuss the implications for theories of innovation adoption and knowledge enhancement associated with environmentally-friendly practices.

Keywords: Absorptive capacity, construction industry, environmental, green innovation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3107

Authors: Zeynep Ayfer Bozat

Abstract:

As traditional innovation has already taken its place in managers’ to do lists; managers and companies have started to look for new ways to go beyond the traditional innovation. Because of its cost, traditional innovation became a burden for companies since they only use inner sources. Companies have intended to use outer innovation sources to decrease the innovation costs and Open Innovation has become a new solution for companies at this point. Crowdsourcing is a tool of Open Innovation and it consists of two words: Outsourcing and crowd. Crowdsourcing aims to benefit from the efforts and ideas of a virtual crowd via Internet technologies. In addition to that, crowdsourcing can help entrepreneurs to innovate and grow their businesses. They can crowd source anything they can use to grow their businesses: Ideas, investment, new business, new partners, new solutions, new policies, data, insight, marketing or talent. Therefore, the aim of the study is to be able to show some possible ways for entrepreneurs to benefit from crowdsourcing to expand or foster their businesses. In the study, the term crowdsourcing has been given in details and these possible ways have been searched and given.

Keywords: Crowdsourcing, entrepreneurship, innovation, open innovation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1410

Authors: Zhenkun Wang, Simon S. Gao

Abstract:

Using a scoring system, this paper provides a comparative assessment of the quality of data between XBRL formatted financial reports and non-XBRL financial reports. It shows a major improvement in the quality of data of XBRL formatted financial reports. Although XBRL formatted financial reports do not show much advantage in the quality at the beginning, XBRL financial reports lately display a large improvement in the quality of data in almost all aspects. With the improved XBRL web data managing, presentation and analysis applications, XBRL formatted financial reports have a much better accessibility, are more accurate and better in timeliness.

Keywords: Data Quality; Financial Report; Information; XBRL

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2505

Authors: Mohammad Samarah, Benjamin Stark, Jennifer Kindle, Langley Payton

Abstract:

Innovation is a key driver for companies, society, and economic growth. However, assessing and measuring innovation for individuals as well as organizations remains difficult. Our i5-Score presented in this study will help to overcome this difficulty and facilitate measuring the innovation potential. The score is based on a framework we call the 5Gs of innovation which defines specific innovation attributes. Those are 1) the drive for long-term goals 2) the audacity to generate new ideas, 3) the openness to share ideas with others, 4) the ability to grow, and 5) the ability to maintain high levels of optimism. To validate the i5-Score, we conducted a study at Florida Polytechnic University. The results show that the i5-Score is a good measure reflecting the innovative mindset of an individual or a group. Thus, the score can be utilized for evaluating, refining and enhancing innovation capabilities.

Keywords: Change management, innovation attributes, organizational development, STEM and venture creation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 958

Authors: Laura de Zwaan, Tracey West

Abstract:

There is a sustained observable gender gap in financial literacy, with females consistently having lower levels than males. This research explores the knowledge and experiences of high school students in Australia aged 14 to 18 in order to understand how this gap can be improved. Using a predominantly qualitative approach, we find evidence to support impacts on financial literacy from financial socialization and socio-economic environment. We also find evidence that current teaching and assessment approaches to financial literacy may disadvantage female students. We conclude by offering recommendations to improve the way financial literacy education is delivered within the curriculum.

Keywords: Financial literacy, financial socialization, gender, maths.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 264

Authors: Michele Grimaldi, Livio Cricelli, Francesco Rogo, Alessia Iannarelli

Abstract:

The objective of this paper is to support the application of Open Innovation practices in firms and organizations by the assessment and management of Intellectual Capital. Intellectual Capital constituents are analyzed in order to verify their capability of acting as key drivers of Open Innovation processes and, therefore, of creating value. A methodology is defined to settle a procedure which helps to select the most relevant Intellectual Capital value drivers and to provide Communities of Innovation with strategic and managerial guidelines in sustaining Open Innovation paradigm. An application of the methodology is developed within a specifically addressed project and its results are hereafter examined.

Keywords: Assessment, Community of Innovation, Intellectual Capital, Management, Open Innovation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1738

Authors: R. Byler

Abstract:

Innovation, particularly in technology development, is a crucial aspect of nanotechnology R&D and, although several approaches to effective innovation management exist, organizational structures that promote knowledge exchange have been found to be most effect in supporting new and emerging technologies. This paper discusses Integrated Knowledge Networks (IKNs) and evaluates its use within nanotechnology R&D to increase technology innovation. Specifically, this paper reviews the role of IKNs in bolstering national and international nanotechnology development and in enhancing nanotechnology innovation. Both physical and virtual IKNs, particularly IT-based network platforms for community-based innovation, offer strategies for enhanced technology innovation, interdisciplinary cooperation, and enterprise development. Effectively creating and managing technology R&D networks can facilitate successful knowledge exchange, enhanced innovation, commercialization, and technology transfer. As such, IKNs are crucial to technology development processes and, thus, in increasing the quality and access to new, innovative nanoscience and technologies worldwide.

Keywords: Community-based innovation, integrated knowledge networks, nanotechnology, technology innovation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 856

Authors: Andrus Pedai, Igor Astrov

Abstract:

The focus of this paper is to compare common approaches for Systems of Innovation (SI) and identify proactive alternatives for driving the innovation. Proactive approaches will also consider short and medium term perspectives with developments in the field of Computer Technology and Artificial Intelligence. Concerning Computer Technology and Large Connected Information Systems, it is reasonable to predict that during current or the next century intelligence and innovation will be separated from the constraints of human driven management. After this happens, humans will be no longer driving the innovation and there is possibility that SI for new intelligent systems will set its own targets and exclude humans. Over long time scale these developments could result in scenario, which will lead to the development of larger, cross galactic (universal) proactive SI and Intelligence.

Keywords: Artificial intelligence, DARPA, Moore’s law, proactive innovation, singularity, systems of innovation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2035

Authors: Guangjie Liu

Abstract:

The main purpose of this paper is to research on the methodologies of BYD to implement the opportune innovation. BYD is a Chinese company which has the IT component manufacture, the rechargeable battery and the automobile businesses. The paper deals with the innovation methodology as the same as the IPR management BYD implements in order to obtain the rapid growth of technology development with the reasonable cost of money and time.

Keywords: Opportune innovation, vertical integration, unpatenting integration, patenting.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2809

Authors: Barbora Chmelíková

Abstract:

Making sound financial decisions is an essential skill which can have an impact on life of each consumer of financial products. The aim of this paper is to examine decision-making concerning financial matters and personal finance. The selected target group was university students majoring in finance related fields. The study was conducted in the Czech Republic at Masaryk University in 2015. In order to analyze financial decision-making questions related to basic finance decisions were developed to address the research objective. The results of the study suggest gaps in detecting best solutions to given financial decision-making questions among finance students. The analysis results indicate relation between financial decision-making and own experience with holding and using concrete financial products.

Keywords: Financial decision-making, financial literacy, personal finance, university students.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2437

Authors: Tugce Ercan

Abstract:

This research study aims to identify the impact of two factors –growth and competitive strategies- on a set of building production innovation strategies. It was conducted a questionery survey to collect data from construction professionals and it was asked them the importance level of predicted innovation strategies for corporate strategies. Multiple analysis of variance (MANOVA) was employed to see the main and interaction effects of corporate strategies on building innovation strategies. The results indicate that growth strategies such as entering in a new a market or new project types has a greater effect on innovation strategies rather than competitive strategies such as cost leadership or differentiation strategies. However the interaction effect of competitive strategies and growth strategies on innovation strategies is much bigger than the only effect of competitive strategies. It was also analyzed the descriptive statistics of innovation strategies for different competitive and growth strategy types.

Keywords: competitive strategy, growth strategy, innovation, construction company, MANOVA

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2921

Authors: Iracema Machado de Aragão Gomes, Íkaro Daniel Carvalho Barreto, Suzana Leitão Russo

Abstract:

Policies that support entrepreneurship are keys to the generation of new business. In Brazil, seed capital, installation of technology parks, programs and zero interest financing, economic subsidy as Program First Innovative Company (PRIME) are examples of incentive policies. For the implementation of PRIME, in particular the Brazilian Innovation Agency (FINEP) decentralized operationalization so that business incubators could select innovative projects. This paper analyzes the program PRIME Business Incubator Center of the State of Sergipe (CISE) after calculating the mean and standard deviation of the grades obtained by companies in the factors of innovation, market potential, financial return economic, market strategy and staff and application of the Mann-Whitney test.

Keywords: Entrepreneurship, innovation, technology parks, business incubators.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1856

Authors: Haeng A. Seo, Changseok Oh, Seung Jun Yoo

Abstract:

This study attempts to examine the disparities in S&T innovation capacity from 14 developing countries to discuss how to support specific features in national innovation systems. It includes East-Asian, Middle-Asian, Central American and African countries. Here, we particularly focus on five dimensions- resources, activities, network, environment and performance- with 37 indicators. They were derived as structuring components of the relevant diagnostic model, which encompasses the whole process of S&T innovation from the input of resources to the output of economically valuable results. For many developing nations, economic industries remain weaker than actual S&T capabilities, and relevant regulatory authorities may not exist. This paper will be helpful to provide basic evidence and to set directions for better national S&T Innovation capacities and toward national competitiveness.

Keywords: Developing countries, measurement, NIS, S&T innovation capacity.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1413

Authors: Ivana Nacinovic, Lovorka Galetic, Nevenka Cavlek

Abstract:

Continuous innovation is becoming a necessity if firms want to stay competitive. Different factors influence the rate of innovation in a firm, among which corporate culture has often been recognized among the most important factors. In this paper we argue that the development of corporate culture that will support and foster innovation must be accompanied with an appropriate reward system. A research conducted among Croatian firms showed that a statistically significant relationship exists among corporate culture that supports innovations and reward system features.

Keywords: Corporate culture, innovation, reward systems, Croatia.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4419

Authors: H. Essmann, N. du Preez

Abstract:

The seemingly ambiguous title of this paper – use of the terms maturity and innovation in concord – signifies the imperative of every organisation within the competitive domain. Where organisational maturity and innovativeness were traditionally considered antonymous, the assimilation of these two seemingly contradictory notions is fundamental to the assurance of long-term organisational prosperity. Organisations are required, now more than ever, to grow and mature their innovation capability – rending consistent innovative outputs. This paper describes research conducted to consolidate the principles of innovation and identify the fundamental components that constitute organisational innovation capability. The process of developing an Innovation Capability Maturity Model is presented. A brief description is provided of the basic components of the model, followed by a description of the case studies that were conducted to evaluate the model. The paper concludes with a summary of the findings and potential future research.

Keywords: Capability maturity, innovation, innovation capability.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4136

Authors: Bhumika Gupta, Jeayaram Subramanian, Hardik Vachhrajani, Avinash Shivdas

Abstract:

Indian food processing industry is one of the largest in the world in terms of production, consumption, exports and growth opportunities. SMEs play a crucial role within this. Large manufacturing firms largely dominate innovation studies in India. Innovation sources used by SMEs are often different from that of large firms. This paper focuses on exploring various sources of innovation adopted by food processing SMEs in Kerala, South India. Outcome suggests that SMEs use various sources like suppliers, competitors, employees, government/research institutions and customers to get new ideas.

Keywords: Food processing, innovation, SMEs, sources of innovation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2917

Authors: Gerard E. Sleefe

Abstract:

There is significant interest in achieving technology innovation through new product development activities. It is recognized, however, that traditional project management practices focused only on performance, cost, and schedule attributes, can often lead to risk mitigation strategies that limit new technology innovation. In this paper, a new approach is proposed for formally managing and quantifying technology innovation. This approach uses a risk-based framework that simultaneously optimizes innovation attributes along with traditional project management and system engineering attributes. To demonstrate the efficacy of the new riskbased approach, a comprehensive product development experiment was conducted. This experiment simultaneously managed the innovation risks and the product delivery risks through the proposed risk-based framework. Quantitative metrics for technology innovation were tracked and the experimental results indicate that the risk-based approach can simultaneously achieve both project deliverable and innovation objectives.

Keywords: innovation, risk assessment, product development, technology management.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1558

Authors: Liliana Mâţă

Abstract:

The focus of the study is to understand the factors of curriculum innovation from the perspective of Language teacher education. The overall aim of the study is to investigate Language educators- perceptions of factors of curriculum innovation. In the theoretical framework the main focus is on discussion about different curriculum approaches for language teacher education and limiting and facilitating factors of innovation. In order to achieve the aim of the study, an observational research is employed. The empirical basis of the study consists of questionnaire with sixty-three language teachers from eight Romanian higher education institutions. The findings reveal variation in Language teachers- conceptions of the dominant factors of curricular innovation.

Keywords: curriculum innovation, factors, Language teacher education

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16748

Authors: Maria E. Eggink

Abstract:

Innovation plays an important role in economic growth and development. Evolutionary economics has entrepreneurs at the centre of the innovation system, but includes all other participants as contributors to the performance of the innovation system. Education and training institutions, one of the participants in the innovation system, contributes in different ways to human capital. The gap in literature on the competence building as part of human capital in the analysis of innovation systems is addressed in this paper. The Mpumalanga Province of South Africa is used as a case study. It was found that the absence of a university, the level of education, the quality and performance in the education sector and the condition of the education infrastructure have not been conducive to learning.

Keywords: Education institutions, human capital, innovation systems, Mpumalanga Province.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1990

Authors: Safa Ougoujil, Sidi Mohamed Rigar

Abstract:

Economics is not an exact science. It cannot be from the moment it is a social science that concerns society organization, a human science that depends on the behavior of the men and women who make a part of this society. Therefore, it cannot ignore morality, the instinctive sense of good and evil, the natural order which place us between certain values, and which religion often sheds light on. In terms of finance, the reference to ethics is becoming more popular than ever. This is naturally due to the growing financial crises. Finance is less and less ethical, but some financial practices have continued to do so. This is the case of ethical finance and Islamic finance. After attempting to define the concepts of ethical finance and Islamic finance, in a period when financial innovation seeks to encourage differentiation in order to create more profit margins, this article attempts to expose the particularities, the convergences and the potentialities of development of these two sensibilities.

Keywords: Convergences, ethical finance, Islamic finance, potential development.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1045

Authors: Heng Ma

Abstract:

Aiming at the problems existing in low-carbon technology of Chinese manufacturing industries, such as irrational energy structure, lack of technological innovation, financial constraints, this paper puts forward the suggestion that the leading role of the government is combined with the roles of enterprises and market. That is, through increasing the governmental funding the adjustment of the industrial structures and enhancement of the legal supervision are supported. Technological innovation is accelerated by the enterprises, and the carbon trading will be promoted so as to trigger the low-carbon revolution in Chinese manufacturing field.

Keywords: Low-carbon economy, traditional manufacturing industry, industrial structure, carbon emission reduction.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1406

Authors: Jihane Abdessadak, Hicham Achelhi, Kamal Reklaoui

Abstract:

For any company or organization, change must be natural and binding in order to evolve its business, protect its durability and remain competitive. "Adapt or disappear". But how often managers, leaders or employees develop astonishing ideas that could improve several aspects of the organization and the feedback is less that encouraging and people give unrealistic judgments just to escape change. In this paper, we are going to discuss what we do know about change and resistance to change and what we can do to tame this phenomenon and, above all, the main steps that can follow an idea man in the delicate and decisive implementation of innovations.

Keywords: Innovation, change, resistance to change/innovation, barriers to innovation, levers of innovation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1458

Authors: Glessiane de O. Almeida, Sérgio Murilo C. Messias, Iracema M. de Aragão Gomes

Abstract:

This article discusses issues related to the System of Innovation: Comparing economies of Brazil and South Africa. Having as this study aimed at comparing the Innovation System of the countries mentioned. Then briefly describe the process of Venture Capital and present the industry innovation in Brazil and South Africa. The methodological approach described in this article is descriptive and the approach is qualitative, taking as a basis secondary data relating to research articles. The main results are related to the different forms of financing of Venture Capital used by countries compared, in addition to the training and economic policy. And finally, it was highlighted the importance of implementation of policy reforms for the Brazil and Africa in the innovation process.

Keywords: Innovation, Venture Capital, Economy, National Innovation System (NIS), BRICS.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1734

Authors: Tomas Mitkus, Vaida Nedzinskaitė-Mitkė

Abstract:

The objective of this study is to identify and explore how adequate is modern innovation support mechanism to developed creative industries. We argue that current development and support strategy for creative industries, although acknowledge high correlation between innovation and creativity, do not seek to improve conditions to promote systematic innovation development in the creative sector. Using the Lithuanian animation industry as a case study, this paper will examine innovation contribution to creativity and, for that matter, the competitiveness of animation enterprises. This paper proposes insights that contribute to theoretical and practical discussions on how creative profile companies build national and international competitiveness through innovations. The conclusions suggest that development of creative industries could greatly benefit if policymakers would implement tools that would encourage creative profile enterprises to invest in to development of innovation at a constant rate.

Keywords: Creative industries, animation, innovation, innovation policy, management.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 982

Authors: Indre Brazauskaite, Vilte Auruskeviciene

Abstract:

The paper explores the Stage-Gate framework application for innovation maturity among small and medium-sized enterprises (SMEs). Innovation management becomes an essential business survival process for all sizes of organizations that can be evaluated and audited systemically. This research systemically defines and assesses the innovation process from the perspective of the company’s top management. Empirical research explores attitudes and existing practices of innovation management in SMEs in Baltic countries. It structurally investigates the current innovation management practices, level of standardization, and potential challenges in the area. Findings allow to structure of existing practices based on an institutionalized model and contribute to a more advanced understanding of the innovation process among SMEs. Practically, findings contribute to advanced decision-making and business planning in the process.

Keywords: innovation measure, innovation process, small and medium-sized enterprises, SMEs, stage-gate framework.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 102

Authors: Maria E. Eggink

Abstract:

It is the aim of this paper to place the role of innovation in economic development in its theoretical context through a literature review. The review compares classical economic theory and the neoclassical theories of “equilibrium in the markets” and “perfectly competitive markets” with the Schumpeterian theory. It was found that Schumpeter’s role in contributing towards economic development theories, and by creating awareness of the role of innovation in these theories is of immeasurable importance. His contribution led to a change in economic thinking, although this was only realized much later than when his theories were first published. The neo-Schumpeterian thinking expanded on the Schumpeterian theory by studying innovation within a system of interaction among different role players. Studies on innovation should be founded in the neo-Schumpeterian school of thought in order to accommodate the complexity of the innovation system concept.

Keywords: Economic development, evolutionary economics, innovation, Schumpeter.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4360

Authors: Mihai Liviu Despa

Abstract:

The paper tackles the topic of determining the cost of innovation in software development projects. Innovation can be achieved either in a planned or unplanned manner. The paper approaches the scenarios were innovation is planned for. As a starting point an innovative software development project is analyzed. The project is depicted step by step as it was implemented, from inception to delivery. Costs that are proprietary to innovation in software development are isolated based on the author’s personal experience in managing the above mentioned project. Innovation costs components identified by the author are then validated using open discussions with software development professionals and projects managers on LinkedIn groups. In order to receive relevant feedback only groups that focus on software development and innovation management are targeted. Additional innovation cost components suggested by software development professionals and projects managers are also considered. Based on the identified cost components an indicator is built. The indicator is meant to formalize the process of determining the cost of innovation in a software development project. The indicator aggregates all the innovation cost components that are identified in the research process. The process of calculating each cost component is also described. Conclusions are formulated and new related research topics are submitted for debate.

Keywords: Innovation cost, IT project management, software development.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2017

Authors: Farnaz Motamediyan Dehkordi, Anthony Thompson, Tobias Larsson

Abstract:

Market competition and a desire to gain advantages on globalized market, drives companies towards innovation efforts. Project overload is an unpleasant phenomenon, which is happening for employees inside those organizations trying to make the most efficient use of their resources to be innovative. But what are the impacts of project overload on organization-s innovation capabilities? Advanced engineering teams (AE) inside a major heavy equipment manufacturer are suffering from project overload in their quest for innovation. In this paper, Agent-based modeling (ABM) is used to examine the current reality of the company context, and of the AE team, where the opportunities and challenges for reducing the risk of project overload and moving towards innovation were identified. Project overload is more likely to stifle innovation and creativity inside teams. On the other hand, motivations on proper challenging goals are more likely to help individual to alleviate the negative aspects of low level of project overload.

Keywords: Innovation, Creativity, Project overload, Agentbased modelling.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1800

Authors: Jerry Szatko, Edan L. Jorgensen, Stacia Jorgensen

Abstract:

A crucial component to the success of any financial advising relationship is for the financial professional to understand the perceptions, preferences and thought-processes carried by the financial clients they serve. Armed with this information, financial professionals are more quickly able to understand how they can tailor their approach to best match the individual preferences and needs of each personal investor. Our research explores the use of a quantitative assessment tool in the financial services industry to assist in the identification of the personal investor’s consumer behaviors, especially in terms of financial risk tolerance, as it relates to their financial decision making. Through this process, the Unitifi Consumer Insight Tool (UCIT) was created and refined to capture and categorize personal investor financial behavioral categories and the financial personality tendencies of individuals prior to the initiation of a financial advisement relationship. This paper discusses the use of this tool to place individuals in one of four behavior-based financial risk tolerance categories. Our discoveries and research were aided through administration of a web-based survey to a group of over 1,000 individuals. Our findings indicate that it is possible to use a quantitative assessment tool to assist in predicting the behavioral tendencies of personal consumers when faced with consumer financial risk and decisions.

Keywords: Behavior based advising, behavioral finance, financial advising, financial advisor tools, financial risk tolerance.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 904

Authors: Chiung-ying Lee, Chia-hua Chang

Abstract:

In July 1, 2007, Taiwan Stock Exchange (TWSE) on market observation post system (MOPS) adds a new "Financial reference database" for investors to do investment reference. This database as a warning to public offering companies listed on the public financial information and it original within eight targets. In this paper, this database provided by the indicators for the application of company financial crisis early warning model verify that the database provided by the indicator forecast for the financial crisis, whether or not companies have a high accuracy rate as opposed to domestic and foreign scholars have positive results. There is use of Logistic Regression Model application of the financial early warning model, in which no joined back-conditions is the first model, joined it in is the second model, has been taken occurred in the financial crisis of companies to research samples and then business took place before the financial crisis point with T-1 and T-2 sample data to do positive analysis. The results show that this database provided the debt ratio and net per share for the best forecast variables.

Keywords: Financial reference database, Financial early warning model, Logistic Regression.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1384