Vilani Sachitra, Dinushi Wijesinghe and Wajira Gunasena
Undergraduates are expected to be future leaders responsible for business and nations. Given that sound financial decision-making is critical to their success in their careers and…
Abstract
Purpose
Undergraduates are expected to be future leaders responsible for business and nations. Given that sound financial decision-making is critical to their success in their careers and lives, it is important to understand the money-management behaviour of undergraduates. In the context of developing countries, the body of knowledge on money-management behaviour is dominated by functional financial literature and there is little research on factors beyond this. This study aims to fill this gap by exploring economic, social and psychological factors that influence money-management behaviour of undergraduates in a developing nation (Sri Lanka) and how undergraduates respond to these influences.
Design/methodology/approach
The study used a qualitative exploratory approach. Data collection was carried out using focus group discussions and individual interviews amongst undergraduates in a leading Sri Lankan state university.
Findings
The results indicate that undergraduates adopted both careful and risky money-management approaches. The subthemes, specifically identified under economic, social and psychological factors, revealed how undergraduates responded to each of these factors and the influence of contextual and cultural differences in their money-management behaviour.
Research limitations/implications
Findings of the study revealed the importance of promoting innovative educational strategies to change the dependability mindset of undergraduates and to promote stress-management strategies that will assist them to enhance their personalities and creativity in making financial decisions. Theoretical and practical implications and future research directions are provided.
Originality/value
The literature scores in developing context are limited to exploring the existing pattern and the levels of the functional financial literacy. This study has deepened the authors’ understanding of how the developing context affects undergraduates’ response to the factors relating to their money-management behaviour. The findings from this study will be useful to government, financial institutions, educational institutions, parents and those who have a keen interest in encouraging healthy money-management behaviour in undergraduates.
Details
Keywords
Nuwan Gunarathne, Dileepa Samudrage, Dinushi Nisansala Wijesinghe and Ki-Hoon Lee
This paper aims to identify the usefulness of safety controls and accounting in corporate social sustainability management in response to various stakeholders’ demands and…
Abstract
Purpose
This paper aims to identify the usefulness of safety controls and accounting in corporate social sustainability management in response to various stakeholders’ demands and expectations in the mining sector.
Design/methodology/approach
The case study approach is followed in this study as it provides in-depth understanding of complex social phenomena. Data collection is mainly based on semi-structured interviews, on-site assessments and documentation reviews. Visits were repeated and cross-checked to ensure the validity of data collection and analysis.
Findings
The study identifies a reciprocal relationship between stakeholder management strategies and the safety control system that encapsulates a mix of leading and lagging key safety performance indicators (KSPIs). A safety control system with the right mix of KSPIs drives corporate value-creation by instigating internal organizational changes. Yet, the stakeholders’ expectations and pressures are dependent on national, historical, cultural and social settings and institutions that will impact on the safety controls and safety accounting in a substantial way.
Originality/value
The paper demonstrates the usefulness of safety controls and accounting in corporate stakeholder management in the mining sector in Sri Lanka. The paper, by addressing how safety control systems and accounting meet various stakeholder demands and expectations, provides new insights into corporate social sustainability performance in mining companies and the role and implications of sustainability (management) accounting.