Financial institutions using social media – do consumers perceive value?

Purpose The purpose of this paper is to examine consumer perceptions of value of financial institutions using social media to interact with consumers; if overall perceived value predicts a consumer’s intention to adopt, and if intention predicts self-reported adoption of social media to interact with a financial institution; and if perceptions of value in using social media to interact with a financial institution changes over time. Design/methodology/approach Self-administered surveys were run at two time points; 2010 and 2014. Data were analyzed using multiple and mediated regressions, and t-tests. Comparisons are made between the two time points. Findings Perceived usefulness, economic value, and social value predicted overall perceived value, which in turn predicted a consumer’s intention to adopt social media to interact with a financial institution. At Time 2, adoption intention predicted self-reported usage behavior. Finally, there were significant differences between perceptions across Time 1 and 2. Research limitations/implications The implications of the research highlight the importance of overall perceived value in the role of adoption intention, and that at Time 2, adoption intention predicted self-reported adoption to read and share content. A reduction in perceptions of value and intentions from Time 1 to Time 2 could be explained by perceptions of technology insecurity. In future studies, the authors recommend examining inhibitors to adoption including hedonic value. Practical implications The findings suggest that consumers will use social media if the sector creates and clearly articulates consumer value from using social media. The sector also needs to address technology security perceptions to increase usage of social media. Originality/value This paper is one of the first to investigate the consumer’s perspective in social media adoption by financial institutions, by exploring the role of value in consumer adoption and usage of social media.

The Value of Financial Planning Advice: Process and Outcome Effects on Consumer Well-being [Time 1 and 2 Survey Summary Results]

While anecdotal evidence indicates financial advice affects consumers’ financial well-being, this research project is motivated by the absence of empirically-grounded research relating to the extent to which, and, importantly, how, financial planning advice contributes to broader client well-being. Accordingly, the aim of this project is to establish how the quality of financial planning advice can be optimised to add value, not only to clients’ financial situation, but also to broader aspects of their well-being. This broader construct of well-being captures a range of process and outcome factors that map to concepts of security, control, choice, mastery, and life satisfaction (Irving, 2012; Gallery, Gallery, Irving & Newton, 2011; Irving, Gallery, and Gallery, 2009). Financial planning is commonly purported to confer not only tangible benefits, but also intangible benefits, such as increased security and peace of mind that are considered as important, if not more important, than material outcomes. Such claims are intuitively appealing; however, little empirical evidence exists for the notion that engaging with a financial planner or adviser promotes peace of mind, feelings of security, and expands choices and possibilities. Nor is there evidence signalling what mechanisms might underpin such client benefits. In addressing this issue, we examine the financial planning advice (including financial product advice) provided to retail clients, and consider the short- and longer-term impacts on clients’ financial satisfaction and broader well-being. To this end, we examine both process (e.g., how financial planning advice is given) and outcome (e.g., financial situation) effects.

Actuarial report 2011: Social security schemes administered by Kela 2010-2060

Projections concerning the long-term outlook of the social security schemes administered by the Social Insurance Institution of Finland (Kela) are made regularly by the Institution’s Actuarial Section. The report at hand was compiled with the help of an aggregate model devised by the Actuarial Section. In the model, various universal factors influencing benefit trends are consolidated and the interactions between individual benefits are taken into account. The demographic forecasts underlying the report have also been made by the Actuarial Section. Estimates of income and administrative costs have been made in cooperation with the Financial Planning Section.

The protection and security of vulnerable populations in complex emergencies using the Dadaab refugee camps in the north eastern province of Kenya as a case study

The past two decades has seen a dramatic upheaval in the international world order: the end of the Cold War, the 9/11 attacks and the subsequent 'War on Terror', increased Jihadist activities, the accelerated pace of globalization, climate change and the 2008 global financial crisis have contributed to fear, uncertainty, poverty, conflict, massive displacements of populations of asylum seekers and refugees globally and a proliferation of Protracted Refugee Situations (PRS), defined as situations in which refugees have been in exile 'for 5 years or more after their initial displacement, without immediate prospects for implementation of durable solutions. In the past two decades there has been a huge proliferation of these with more than 7.2 million refugees now trapped in these PRS, with a further 16 million internally displaced persons (IDPs) trapped in camps within their own countries. The Dadaab refugee complex in Kenya, which of as March 2012, holds over 463,000 refugees, is the most significant and extreme example in recent times of a PRS. It was established in 1991 following the collapse of the Somali Government of Dictator Siad Barre, and the disintegration of Somalia into the chaos that still exists today. PRS such as Dadaab raise particular issues about humanitarianism in terms of aid, protection, security, human rights and the actions (or inaction) of the various stakeholders on an international, national and local level. This thesis investigates these issues by the use of a case study methodology on Dadaab as a PRS, framed in the context of humanitarianism and in particular the issues that arise in terms of how the international community, the UN system and individual states provide assistance and protection to vulnerable populations. Although the refugee camps have been in existence (as of 2012) for over 20 years, there has never been such a detailed study of Dadaab (or any other PRS) undertaken to date and would be of interest to academics in the areas of international relations, refugee/migration studies and global Governance as well as practitioners in both humanitarian response and development

The impact of saving and credit cooperatives on food security in the West Amhara Region of Ethiopia

In rural Ethiopia, among other things, lack of adequate financial service is considered as the basic problem to alleviate rural poverty and to solve the problem of food insecurity. Commercial banks are restricted to urban centres. Providing rural financial service through RUSACCO to the poor has been proposed as a tool for economic development and for achieving food security. Evidence from research in this regard has been so far scanty, especially in rural Ethiopia. The aims of this study are to analyze the determinants of membership, to identify socioeconomic and demographic factors that influence members’ participation in RUSACCOs and to quantify the impact of RUSACCOs on member households’ food security. The study was conducted in two purposely selected woredas in the Amhara region one from food insecure (Lay Gayint woreda) and the other from food secure (Dejen woreda). Six RUSACCOs were selected randomly from these two woredas. Both qualitative and quantitative data were collected. Key informant interviews, focus group discussions and survey techniques were used to collect primary data. Collected data was then analyzed using mixed methods depending on the nature of data. For quantitative data analysis appropriate statistical models were used. The study result reveals that the number of members in each RUSACCO is very small. However, the majority of non-member respondents are willing to join RUSACCO. Lack of information about the benefits of RUSACCO membership is the main problem why many rural poor do not join RUSACCOs. Members participate in different aspects of the cooperatives, starting from attending general assembly up to board membership. They also participate actively in saving and borrowing activities of RUSACCO. The majority of the respondents believe the RUSACCO is a vital instrument in combating food insecurity. The empirical findings indicate that gender, marital status, occupation, educational level, participation in local leadership and participation in other income generation means determine the decision of rural poor to join a RUSACCO or not. The amount of saving is determined by household head occupation, farming experience and income level. While age of household head, primary occupation, farming experience, date of membership, annual total consumption expenditure, amount of saving and participation in other income generation activities influence members’ amount of borrowing by RUSACCO members. Finally, the study confirms that RUSACCO participation improves household food security. RUSACCO membership has made positive impact on household total consumption expenditure and food expenditure.

New Financial Elites, or Financial Dualism in Historical perspective? An Extended Reply to Folkman, Froud, Johal and Williams

This paper challenges the recent suggestion that a new financial elite has evolved which is able to capture substantial profit shares for itself. Specifically, it questions the assumption that new groups of financial intermediaries have increased in significance primarily because there is evidence that various types of financial speculators have played a similarly extensive role at several junctures of economic development. The paper then develops the alternative hypothesis that, rather than being a recent development, the rise of these financial intermediaries is a cyclical phenomenon which is linked to specific regimes of capital accumulation. The hypothesis is underpinned by historical data from the US National Income and Product Accounts for the period from 1930 to 2000, which suggest that the activities of `mainstream' financial intermediaries have been accompanied by the frequently countercyclical activities of a `speculative' sector of security and commodity brokers. Based on the combination of this qualitative and quantitative evidence, the paper concludes that the rise of a speculative financial sector is a potentially recurrent phenomenon which is linked to periods of economic restructuring and turmoil.

China’s National Security Review: a tit-for-tat response?

China is gradually taking its place as a major regulator, exercising concurrent jurisdiction of the national security review along with the US and EU over high-profile cross-border mergers and acquisitions. The National Security Review (NSR) regulatory regime of foreign acquisitions has attracted significant attention recently with the establishment of China's counterpart to the Committee on Foreign Investment in the United States (CFIUS). Due to the intensified activities of sovereign wealth funds (SWFs) that are closely linked with states, CFIUS's broad discretion to deal with China's SWF-based investment may have a far-reaching impact on China's implementation of the newly enacted NSR regime. It is essential to design a mechanism that allows SWFs to maximise their positive attributes while safeguarding the apolitical integrity of the marketplace. Any disproportionate use of the NSR regime would inevitably bring about more unintended consequences, such as tit-for-tat protectionism. This represents an imminent threat to the tenuous recovery from the recent economic crisis, largely because of the increasingly intertwined and interdependent nature of the global financial markets. It is of utmost significance to evaluate the extent to which the updated legislation strikes a reasonable balance between preserving genuine national security interests and maintaining an open environment for investment.

Gender and human security : the challenge facing Canada's human security policy /

During the 1980's and for much of the 1990's, many countries in the Asia Pacific were renowned for their economic development and prosperity. The Asian tigers were a source of great interest for many economists and international investors. The 1997 Asian financial crisis, however, dramatically altered the growth and the performance of these economies. The crisis sent several ofAsia's best performing economies on a downward spiral from which many have yet to fully recover. The crisis exposed the financial and the political weaknesses ofmany countries in the region. Moreover, the crisis severely affected the wellbeing and the security ofmany ofthe region's citizens. This text will examine the economic crisis in greater detail and explore current debates in the study of international relations theory. More specifically, this paper will examine recent challenges posed to traditional international relations theory and address alternative approaches to this field of study. This paper will examine Critical theory and its role in shifting the referent object of security from the state to the individual. In this context, this paper will also assess Critical theory's role in enabling such issues as gender and human security to find a place on the agendas of international relations scholars and foreign policy makers. The central focus ofthis study will be the financial crisis and its impact on human security in the Southeast Asia. Furthermore, this paper will assess the recovery efforts ofthe domestic governments, international organizations and various Canadian sponsored initiatives in the context ofhuman security.

Impact on Policy Responses to Food Price Crisis and Rural Food Security in Sri Lanka

In Sri Lanka policy responses have direct impacts on rural dwellers. Over 80% of Sri Lanka’s population live in rural areas and 90% of them represent low income dwellers. Their production system may be hampered by fragmented landholding, poor economics of scale, low investment levels resulting from poor financial services as well as inappropriate or limited technology. They are vulnerable to price hikes of basic foods and food security issues due to fragmented landholding and poor financial services. Policy measures to reduce the transmission of higher international prices in domestic markets exist to protect the food security of the vulnerable population. This paper will discuss the food policy and strategies implemented by the government and outside to the above facts this paper also describes the effectiveness of the policies forwarded by the government. The objective of this study is to analyse the impact of policy responses to the food price crisis and rural food security in Sri Lanka. Outside of the above facts this study also treats the impact of policies and decisions on the nutritional condition of rural dwellers. Furthermore this study is to analyse the fluctuation of buying power with the price hikes and the relation of above facts with issues like malnutrition. This paper discusses why policy makers should pay greater attention to rural dwellers and describes the multiple pathways through which food price increases have on rural people. It also provides evidence of the impact of this crisis in particular, through hidden hunger, and discusses how current policy responses should adjust and improve to protect the rural dwellers in the short and long term.

Ecosystem services and adaptation for agriculture and food security: analysis of two decades (1991–2011) of financing by the Global Environment Facility

Investing in global environmental and adaptation benefits in the context of agriculture and food security initiatives can play an important role in promoting sustainable intensification. This is a priority for the Global Environment Facility (GEF), created in 1992 with a mandate to serve as financial mechanism of several multilateral environmental agreements. To demonstrate the nature and extent of GEF financing, we conducted an assessment of the entire portfolio over a period of two decades (1991–2011) to identify projects with direct links to agriculture and food security. A cohort of 192 projects and programs were identified and used as a basis for analyzing trends in GEF financing. The projects and programs together accounted for a total GEF financing of US$1,086.8 million, and attracted an additional US$6,343.5 million from other sources. The value-added of GEF financing for ecosystem services and resilience in production systems was demonstrated through a diversity of interventions in the projects and programs that utilized US$810.6 million of the total financing. The interventions fall into the following four main categories in accordance with priorities of the GEF: sustainable land management (US$179.3 million), management of agrobiodiversity (US$113.4 million), sustainable fisheries and water resource management (US$379.8 million), and climate change adaptation (US$138.1 million). By aligning GEF priorities with global aspirations for sustainable intensification of production systems, the study shows that it is possible to help developing countries tackle food insecurity while generating global environmental benefits for a healthy and resilient planet.

EU Grand Strategy: Optimism is Mandatory. Egmont Security Policy Brief No. 36, July 2012

The Arab Spring, the American pivot, and the global crisis: these affect all of EU external action, but also present opportunities for EU action. A debate on grand strategy remains necessary.

Multi-modal fingerprinting for multimedia assets: optimisation of media security protection in online distribution environments

Since the advent of the internet in every day life in the 1990s, the barriers to producing, distributing and consuming multimedia data such as videos, music, ebooks, etc. have steadily been lowered for most computer users so that almost everyone with internet access can join the online communities who both produce, consume and of course also share media artefacts. Along with this trend, the violation of personal data privacy and copyright has increased with illegal file sharing being rampant across many online communities particularly for certain music genres and amongst the younger age groups. This has had a devastating effect on the traditional media distribution market; in most cases leaving the distribution companies and the content owner with huge financial losses. To prove that a copyright violation has occurred one can deploy fingerprinting mechanisms to uniquely identify the property. However this is currently based on only uni-modal approaches. In this paper we describe some of the design challenges and architectural approaches to multi-modal fingerprinting currently being examined for evaluation studies within a PhD research programme on optimisation of multi-modal fingerprinting architectures. Accordingly we outline the available modalities that are being integrated through this research programme which aims to establish the optimal architecture for multi-modal media security protection over the internet as the online distribution environment for both legal and illegal distribution of media products.

Equilibria in exchange economies with financial constraints : beyond the Cass trick

We consider an exchange economy under incomplete financiaI markets with purely financiaI securities and finitely many agents. When portfolios are not constrained, Cass [4], Duffie [7] and Florenzano-Gourdel [12] proved that arbitrage-free security prices fully characterize equilibrium security prices. This result is based on a trick initiated by Cass [4] in which one unconstrained agent behaves as if he were in complete markets. This approach is unsatisfactory since it is asymmetric and no more valid when every agent is subject to frictions. We propose a new and symmetric approach to prove that arbitrage-free security prices still fully characterize equilibrium security prices in the more realistic situation where the financiaI market is constrained by convex restrictions, provided that financiaI markets are collectively frictionless.

Microinsurance: income risk, social security and the demand for private onsurance by low-income families

Insurance provision against uncertainties is present in several dimensions of peoples´s lives, such as the provisions related to, inter alia, unemployment, diseases, accidents, robbery and death. Microinsurance improves the ability of low-income individuals to cope with these risks. Brazil has a fairly developed financial system but still not geared towards the poor, especially in what concerns the insurance industry. The evaluation of the microinsurance effects on well-being, and the demand for different types of microinsurance require an analysis of the dynamics of the individual income process and an assessment of substitutes and complementary institutions that condition their respective financial behavior. The evaluation of the microinsurance effects on well-being, and the demand for different types of microinsurance require an analysis of the dynamics of the individual income process and an assessment of substitutes and complementary institutions that condition their respective financial behavior. The Brazilian government provides a relatively developed social security system considering other countries of similar income level which crowds-out the demand for insurance and savings. On the other hand, this same public infrastructure may help to foster microfinance products supply. The objective of this paper is to analyze the demand for different types of private insurance by the low-income population using microdata from a National Expenditure Survey (POF/IBGE). The final objective is to help to understand the trade-offs faced for the development of an emerging industry of microinsurance in Brazil.

Social security in the english-speaking Caribbean

Includes bibliography