Ebook Essentials of credit, collections, and accounts receivable provides an overview of the credit, collections, and accounts receivable functions for senior level managers; provides tips and techniques as well as case studies; shows how to stream line the credit process and how to make this area as efficient as possible. Đề tài Hoàn thiện công tác quản trị nhân sự tại Công ty TNHH Mộc Khải Tuyên được nghiên cứu nhằm giúp công ty TNHH Mộc Khải Tuyên làm rõ được thực trạng công tác quản trị nhân sự trong công ty như thế nào từ đó đề ra các giải pháp giúp công ty hoàn thiện công tác quản trị nhân sự tốt hơn trong thời gian tới.
TheoryofBehavioralFinance
An Analysis of the Studies in Turkey into Consumer Behavior During Periods of Economic Crisis 38
Aybala Demirci Aksoy, Gazi ĩniversitesi, Turkey
The fact that those countries going through tough times like economic crises can predict the change consumers experience so that they could take the necessary precautions brings them competitive advantage and helps them provide solutions accordingly With this in mind, the present qualitative study paints a picture of a general overview of consumer behaviors in times of crises The studies in Turkey into consumer behavior during periods of economic crises have shown that buying behavior of consumers change, that consumers resort to cheap good and services, and that they limit their spending on food the least The Turkish consumers have started to cut back on their spending and postpone their needs in times of economic crisis It could be stated that Turkish consumers now avoid hasty decisions when buying.
AGeneralViewofPovertyinTurkeyasanIssueforSocialWorkintheLightofBehavioral FinanceandGameTheory
The Relationship between Financial Planning for Retirement and Some Socio-Economic
Variables: A Quantitative Study on Middle-Aged Women and Men 54
Filiz Yildirim, Ankara University, Turkey Nuray Akpolat, Nevşehir Provincial National Education Directorate, Turkey
The purpose of this study, planned as a quantitative research, is to determine the relationship between planning retirement financially in middle-age period and some socio-economic variables This study is conducted through 287 volunteer participants, who live in Nevşehir, Turkey, aged 40-59, and were reached via the help of some key individuals As the result of the study, statistically no significant difference has been found between the responses of women and men about planning the retirement financially However, it has been verified that men’s financial plans for retirement were higher in rates than that of women On the other hand, it was also found that although neither women nor men feel ready for the retirement, it has been determined that for men the factor of being an owner of a house and for women the factor of saving up increases the financial planning for the retirement.
AnAnalysisoftheStudiesinTurkeyintoConsumerBehaviorDuringPeriods ofEconomicCrisis
Financial Education for Children and Youth 69
Zeynep Tezel, Kırıkkale University, Turkey
Although financial education consists of individuals of all ages, education of young people in the field of finance is more important The young generation faces more financial risks and more complicated financial products than their parents Besides, young people are introduced to financial services at very early ages owing to cell phones, bank accounts, credit cards Therefore, it is important that individuals are educated in finance as early as possible.
Section 2 Psychological Concepts in Behavioral Finance
TheRelationshipbetweenFinancialPlanningforRetirementandSomeSocio-Economic Variables:AQuantitativeStudyonMiddle-AgedWomenandMen
The Role of Psychological Factors in Behavioral Finance 94
Kijpokin Kasemsap, Suan Sunandha Rajabhat University, Thailand
This chapter introduces the role of psychological factors in behavioral finance, thus explaining the theory of behavioral finance, the application of behavioral finance theory, the empirical achievement in behavioral finance, the utilization of psychological factors in behavioral finance regarding beliefs (i.e., overconfidence, too much trading, optimism and wishful thinking, representativeness bias, conservatism bias, belief perseverance, anchoring, and availability bias) and preferences (i.e., prospect theory and ambiguity aversion) Behavioral finance is a comparatively new management field that seeks to combine behavioral and cognitive psychological theory with conventional economics and finance to provide descriptions for why people make unreasonable financial decisions Psychological factors in behavioral finance hold out the expectation of a better understanding of financial market behavior and scope for investors to make better investment decisions Applying psychological factors in behavioral finance will tremendously enhance financial performance and achieve strategic objectives in global finance.
FinancialEducationforChildrenandYouth
Hande Şahin, Kırıkkale University, Turkey
Sibel Erkal, Hacettepe University, Turkey
The fundamental socio-economic effects of economic crises on societies are decreasing income, unemployment and hence, negative progress of living standards, increasing income inequality and poverty
According to the Commission on Social Determinants of Health Report of World Health Organization, crises adversely affect many social determinants of health and thus threat health in many aspects An important part of overall psychological well-being is satisfaction with various aspects of life One of those domains is one’s financial situation Financial distress has been described as judgments about and responses to one’s financial condition Financial distress is a subjective phenomenon Two individuals with the same levels of income and economic resources may have different levels of perceived financial distress Financial distress can result in or result from poor health, or both The purpose of the study was to explore the relationships between financial distress and health.
FinancialDistressandHealth
Measuring the Poverty of Elderly People with Needs Analysis in Turkey 127
Emine ệzmete, Ankara University, Turkey
This study aimed to analyze the economic, social, and cultural needs of elderly people to determine the poverty thereof in Ankara (the capital city of Turkey).The economic, social, and cultural needs of individuals, which are among the indicators taken into consideration by United Nations Development
Programme (UNDP) in measurement of human poverty index, were subject to research in measurement of poverty of elderly people Face-to-face surveys were conducted with individuals over 65 years of age in the study, with 2.522 surveys qualified for evaluation It was seen that the majority of elderly people were covered by social security The elderly people reported their health to be good They stated satisfaction regarding interindividual relationships with regard to social needs However, it was concluded that the income of elderly people was not sufficient, and that they could not sufficiently afford electrical power and water invoices, medicine, food, and clothing expenses.
MeasuringthePovertyofElderlyPeoplewithNeedsAnalysisinTurkey
Investor Biases in Financial Decisions 147
Shalini Kalra Sahi, Management Development Institute, India
Financial Decisions involve making choices between various investment alternatives, with the aim of increasing the individual’s net worth The investor today is exposed to various investment options, but does not have the knowledge and capability of evaluating all the options and making a rational decision Due to the limitation in the information processing capacities of the individuals, their beliefs and preferences, the investment decision-making process, gets biased This chapter highlights ten such biases and throws light on how they impact investment behaviour, both positively and negatively This understanding of investor psychology will generate insights that will benefit the financial advisory relationship Further for Individuals, recognizing how the biases impact their financial decisions, can help create self-awareness and an understanding that would help them in better financial management, in case these tendencies are leading them to make unsatisfactory investments.
InvestorBiasesinFinancialDecisions
Social Exclusion and Poverty: EU 2020 Objectives and Turkey 170
Davuthan Günaydin, Namık Kemal University, Turkey Hakan Cavlak, Namık Kemal University, Turkey Neslihan Cavlak, Namık Kemal University, Turkey
In this chapter The EU’s 2020 Objectives concerning social exclusion and poverty and Turkey’s vision on social exclusion and poverty based on tenth development plan and Justice and Development Party’s 2023 vision is dealt The EU has developed a growth strategy named “EU 2020” in 2010 The objective concerning social exclusion and poverty of this strategy is to rescue as much EU citizens as possible from social exclusion and poverty and decreasing the number of EU citizens who live under poverty line by 20% Although Turkey is not officially obliged to follow goals stated in EU 2020 objectives, it is integral for Turkey to pursue those principles in order to be harmony with the EU and reach her final aim of being a member of the EU.
Section 3 Behavioral Approach to Financial Issues and Investment
SocialExclusionandPoverty:EU2020ObjectivesandTurkey
Stochastic Processes for the Risk Management 188
Gamze ệzel, Hacettepe University, Turkey
The financial markets use stochastic models to represent the seemingly random behavior of assets such as stocks, commodities, relative currency prices such as the price of one currency compared to that of another, such as the price of US Dollar compared to that of the Euro, and interest rates These models are then used by quantitative analysts to value options on stock prices, bond prices, and on interest rates.
Stochastic Processes for the Risk Management 188
Gamze ệzel, Hacettepe University, Turkey
The financial markets use stochastic models to represent the seemingly random behavior of assets such as stocks, commodities, relative currency prices such as the price of one currency compared to that of another, such as the price of US Dollar compared to that of the Euro, and interest rates These models are then used by quantitative analysts to value options on stock prices, bond prices, and on interest rates
This chapter gives an overview of the stochastic models and methods used in financial risk management
Given the random nature of future events on financial markets, the field of stochastic processes obviously plays an important role in quantitative risk management Random walk, Brownian motion and geometric
Brownian motion processes in risk management are explained Simulations of these processes are provided with some software codes.
StochasticProcessesfortheRiskManagement
The Effects of Situational and Dispositional Factors on the Change in Financial Risk Tolerance 201
Jorge Ruiz-Menjivar, University of Georgia, USA
Wookjae Heo, University of Georgia, USA
John E Grable, University of Georgia, USA
Utilizing the lens of Heider’s (1958) attribution theory and Grable and Joo’s (2004) conceptual framework, this chapter studies the effect of situational and dispositional attributions on changes in financial risk tolerance Situational factors are assessed through changes in household situation and changes in macroeconomic factors For dispositional factors, changes upon sensation seeking attitudes are explored
The data employed in this research come from the 1993, 1994, and 2006 National Longitudinal Survey of
Youth (N = 5,449) Results from structural equation modeling indicate that changes in internal attributions have a significant and positive effect (coefficient = 0.12, p