Search

AbstractExploring the financial behavior traits amidst the unexpected financial challenges and the unparalleled rise in fintech, this study provides insight into the interplay of entrepreneur digital financial literacy (EDFL), entrepreneur financial competency (EFC), and entrepreneur financial skill (EFS) impacting entrepreneur financial decision-making (EFDM). Toward this goal, data were gathered from 223 active women entrepreneurs from India who have accounts in the social media platform. The three-step hierarchical regression analysis disclosed that an entrepreneur with sound EDFL, EFS, and EFC can significantly enhance strategic decision-making (EFDM). The research outcome reveals that EFDM is a consistent predictor of the financial performance of women-owned enterprises. In addition, the entrepreneur’s financial decision-making does not mediate the relationship between financial experience, financial competency, financial skill budgeting, and financial skill_acumen with financial performance. In contrast, partial mediation is observed between digital financial awareness, digital financial knowledge, and financial skill_analytics. The novel insight accounted for a significantly low level of experience in entrepreneurs’ utilization of digital platforms for payment, financing loans, and asset management. The outcome carries academic, regulatory, and managerial significance, recognizing the unique interaction; the cumulative efforts strengthen the capacity to address socio-economic challenges and translate them into gender-specific policy interventions and practices.

Small and Medium-Sized Enterprises (SMEs) are of major importance to developing countries. SMEs are the main drivers to strengthen society in sustaining economic growth and development. Governments provide various support programs to improve their industrial power and to increase the number of enterprises in the market. The enterprises must be assessed and suitable funds should be provided to those in need, to achieve an effective support program in the most efficient way.This requires implementing an assessment methodology based on a predefined set of scientific criteria. The current literature is comprehensive enough to assess the healthiness of the enterprises concerning strategic, technologic, financial as well as intellectual competencies but on the other hand, it lacks of an assessment model. This study aims to introduce a general framework for sustaining an effective assessment methodology for SMEs to eliminate this gap. The proposed model measures five different types of competencies such as Technological Competency, Strategic Competency, Financial Competency, Intellectual Competency, R&D and Innovation Competency. These competencies are to put forth the conditions in which the enterprises are running accurately. A real-life case study is conducted to ensure the baseline of the model to be implemented. The governmental organizations may utilize the model for sustaining their support role effectively to SMEs. [ABSTRACT FROM AUTHOR]

Clinical assessment of mental competence and capacity in older adults, particularly the capacity to manage one's financial and legal matters, is an issue of increasing significance within the context of an aging baby boomer population. Together with escalating demands on caregivers, hospitals, and facilities caring for people experiencing cognitive decline, dementia, brain injury and chronic illnesses, and with the increased longevity, changing demographics and societal pressures have triggered debates regarding decisions surrounding wealth transfer via wills and estate planning. Furthermore, these changes parallel the growth of court challenges to legal and medical competence findings, with an enhanced emphasis on ethical and responsible professional practices. With evolving social and economic perspectives on retirement, older adults, from "blue collar" to professional status, now remain longer in employment markets. Thus, we anticipate a higher prevalence of cognitive and associated functional disability both in the workforce and in the general population. In this context, concern emerges regarding vulnerability of persons with cognitive decline to exploitation. With escalating demands for competency assessments, a lack of clear evidence-based guidelines for these evaluations has the potential for significant harm to older adults, their families, and the public. Thus, we define competency and review its relationship with financial and legal capacity and decision-making, neurocognitive functions, and specific functional domains relevant to older adults (e.g., financial management). We then propose a step-by-step model for constructing financial competency assessments for older adults. [ABSTRACT FROM AUTHOR]

The ability to manage financial affairs is a life skill of critical importance, and neuropsychologists are increasingly asked to assess financial capacity across a variety of settings. Sound clinical assessment of financial capacity requires knowledge and appreciation of applicable clinical conceptual models and principles. However, the literature has presented relatively little conceptual guidance for clinicians concerning financial capacity and its assessment. This article seeks to address this gap. The article presents six clinical models of financial capacity : (1) the early gerontological IADL model of Lawton, (2) the clinical skills model and (3) related cognitive psychological model developed by Marson and colleagues, (4) a financial decision-making model adapting earlier decisional capacity work of Appelbaum and Grisso, (5) a person-centered model of financial decision-making developed by Lichtenberg and colleagues, and (6) a recent model of financial capacity in the real world developed through the Institute of Medicine. Accompanying presentation of the models is discussion of conceptual and practical perspectives they represent for clinician assessment. Based on the models, the article concludes by presenting a series of conceptually oriented guidelines for clinical assessment of financial capacity. In summary, sound assessment of financial capacity requires knowledge and appreciation of clinical conceptual models and principles. Awareness of such models, principles and guidelines will strengthen and advance clinical assessment of financial capacity. [ABSTRACT FROM AUTHOR]