• Journal of the Korean Home Economics Association
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• v.44 no.6 s.220
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• pp.129-140
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• 2006

In this study, the various financial management systems practiced by modem dual-income families were assessed by in-depth interviews with 6 people, 3 practicing integrated financial management and 3 practicing individual financial management. The results indicated significant differences between the two financial management methods regarding family structure, individual values, and family finances. Families that practiced individual financial management consisted of weekend couples without children who showed an individual-centered value tendency and seemed to take a positive attitude towards their future economic situation due to possession of their on stabilized financial assets. Based on these results, we can expect more families to adopt methods of individual financial management and show a wider variety in their financial planning tools which will require adequate and efficient countermeasures and strategies suitable for each financial management practice.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.8
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• pp.599-611
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• 2020

The purpose of this study is to explore and empirically analyze the factors affecting the financial performance of Korean small- and medium-sized manufacturing companies, which are relatively insufficiently researched, in terms of human resource management (HRM). In particular, this study intends to examine the human resource management activities focusing on the individual influences of workers' attitudes on systems and policies as well as jobs and organizations. This study reviews previous research and discussions on the human resource management system, as well as the organization and job-related attitudes and financial performance of workers, for the formulation of two hypotheses. Among the HCCP data, the hypothesis was verified through reliability and correlation analysis and stepwise multiple regression analysis for small- and medium-sized manufacturing enterprises. The results show, firstly, that human resource systems and systems have the same effect, but there were differences in the degree of impact. Secondly, job satisfaction has a statistically significant influence on financial performance. Lastly, all worker/employee attitude determinants are statistically significant for both job satisfaction and organizational commitment. HRM, previously relatively overlooked, provided theoretical and practical implications by demonstrating the direct impact on financial performance and the impact of individual human resource management systems and policies.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.2
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• pp.273-280
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• 2021

Financial behavior and financial well-being are two closely related aspects of an individual's financial decision making. This study attempts to investigate the extent to which financial behavior influences financial well-being in the Indian scenario. The data is collected using a structured questionnaire from a sample of 150 respondents. The study employs Financial Management Behaviour Scale (FMBS) (Dew & Xiao, 2012) to measure financial behavior. Factor analysis and multiple regression are performed to find the influence of financial behavior on financial well-being. The findings of the study suggest that except for credit commitment all the other behavioral factors like future security, savings and investments, credit indiscipline, and financial consciousness have a significant impact on the financial well-being of an individual in the Indian scenario. The regression coefficients of financial well-being are strongly determined by financial consciousness. The study is a contribution to the existing behavioral studies literature and the model used identifies the factors that influence the financial well-being in the Indian scenario. The study is conducted during the year 2020, so the results could have been influenced by the economic scenario of the period. The results of the study can be used by financial advisors to understand the financial well-being in the Indian scenario.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.12
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• pp.19-29
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• 2021

This study aims to measure financial inclusion and examine its impact on income inequality in a panel of 18 Asian countries over the period 1997-2017. Two alternative approaches for developing financial inclusion index are used: one approach following the methodology of Sarma (2008), while the other is the Dynamic Factor Model (DFM)-based index. The impact of individual indicators and index of financial inclusion on inequality in income is analyzed. The Generalized Method of Moment (GMM) approach is used for empirical analysis. The results indicate that micro-level financial inclusion has a weak negative and statistically significant impact on income inequality. Macro-level index and all individual indicators of financial inclusion do not affect income inequality in the selected sample of economies. The income inequality issues have different natures and cannot be fixed by financial inclusion only. It needs holistic structural reforms to enable fair distribution of income and make an equitable financial system. Financial inclusion is a relatively less important intervention tool regarding fixing the issue of income inequality. This is one of the first studies that used the DFM method for financial inclusion indices construction.

• Journal of Fisheries and Marine Sciences Education
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• v.19 no.3
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• pp.329-345
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• 2007

The purpose of this study was to classify the standard classification of fishery occupations base on KECO(Korean Employment Classification of Occupation) in Korea. The result of this study was as follows. First ranks was fisheries duties, second ranks were classified into five categories. That were administration duties management duties financial affairs duties, social service duties marketing duties individual service duties, construction duties civil engineering duties, machinery duties manufacture duties repairing duties, production duties. Third ranks classify based on second ranks. Administration duties management duties financial affairs duties were classified fishery administration, fishery management, fishery financial affairs. Social service duties marketing duties individual service duties were classified fishery social service, fishery marketing, fishery individual service. Construction duties civil engineering duties were classified fishery construction, fishery civil engineering. Machinery duties manufacture duties repairing duties were classified fishery machinery duties, fishery manufacture, fishery repairing. Production duties were classified fishery processing, marine products, fishery environment. Fourth ranks was classified according to third ranks.

• Journal of the Korean Home Economics Association
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• v.35 no.6
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• pp.157-171
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• 1997

The purpose of this study was (1) to assess the level of financial management and financial goal attainment on housing purchase and children's educational expenditure, (2) to identify individual, family and environment variables which influence financial goal attainment, and (3) to investigate causal relation of variables which affect financial goal attainment. Data were collected from questionnaire with 772 married women who were residents of Jeonju. The major finding were as follows; (1) The levels of financial management and financial goal attainment on housing purchase and children's educational expenditure were middle. (2) The variables which exerted direct effects on financial goal attainment on housing purchase were time orientation of consumption life, asset, income stability, easiness in extending credit, financial planning, and financial implementing. the most powerful predictor of financial goal attainment on housing purchase was asset. (30 The variables which exerted direct effects on financial goal attainment on children's educational expenditure were time orientation of consumption life, asset, children's presence on the camp8us, easiness I extending credit, financial planning, and financial implementing. The most powerful predictor of financial goal attainment on children's educational expenditure was financial planning.

• Proceedings of the Safety Management and Science Conference
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• 2009.11a
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• pp.327-337
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• 2009

This paper intends to search factor affecting the selection of financial products by analyzing whether there is difference in the preference of individual financial products whose recognition of importance in the property of financial products in different, depending on the property of investors. The Analytical Hierarchy Process (AHP) is used to test the priority model. The study attempts to demonstrate how the model helps providing better decision choices in financial products.

• Korean Management Science Review
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• v.27 no.1
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• pp.45-60
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• 2010

This study evaluates life annuity plans based on two different types of measures : financial benefit and utility on consumption. The financial benefit is measured by Money's Worth (MW) ratio and return on annuity. For the measure of utility, an optimization problem is formulated with the objective of maximizing utility on consumption. To solve the optimization model, we use Dynamic Programming (DP) technique. The both types of measures are applied to cases of Korean pre-retirees at age 40 with different accumulation years of annuity (i.e. level of annuity asset at the age of retirement) and different timings of annuitization. Our results generally indicate that the utility based optimization model is superior to the financial measures in terms of providing a better evaluation of an annuity plan due to its capability to consider an individual's financial situation during his/her retirement period. Also, they suggest that the level of annuity asset is an important factor when an individual determines the optimal annuitization timing.

• Journal of Families and Better Life
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• v.15 no.1
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• pp.53-70
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• 1997

The purpose of this study was to (1) assess the perceived needs of the married women for financial management education and (2) to identify individual and family variables that influence needs on each content of financial management education. Data were collected from questionaires with 603 married women who were residents of jeonju. The major findings were as follows; (1) The level of financial management education needs were high. (2) The priority order on each content perceived by the married women was 'saving' 'insurance' 'housing' 'tax' 'expenditure planning' and 'debt management & credit' (3) The needs on contents area of the married women group classified by characteristics were significant according to age education level job family life cycle monthly family income asset and financial need variables.

• Journal of Families and Better Life
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• v.27 no.1
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• pp.1-16
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• 2009

Using the 2007 Fund Investors Survey, we investigated (1) the differences in economic status in terms of household income, consumption, saving, assets and debts, (2) the differences in financial management behavior, (3) and the differences in confidence in economic status after retirement between households conducting and not-conducting financial preparation for retirement. The major study findings were as follows. First, only 46.4% of the households were financially preparing for retirement. The levels of income, consumption, and saving were higher among households conducting financial preparation for retirement than among those not-conducting such financial preparation. Second, households conducting financial preparation for retirement had a relatively high propensity to save. Their financial asset portfolio had a higher weight in safety assets and investment assets than in retirement assets. Due to their lack of confidence in their economic status after retirement, their demand for financial preparation for retirement remained. Third, the households which did not conduct financial preparation for retirement tended to have a relatively heavy debt burden and not to implement general household financial management practices. Fourth, among the three-pillar retirement income system, the second pillar, of individual retirement account was not well established. Based on these results, various implications were suggested.