Generolo Jono Žemaičio Lietuvos karo akademija

Europe demands that its people be culturally and intellectually equipped in the ways that are suitable for their present and future. Only in this way they will be able to live meaningful lives in person and together. Higher education institutions play a key role in developing appropriate strategies as they are responsible for preparing their students for viable development of career and citizenship. Universities and other higher education institutions are increasingly realizing that their movement is a moving target and their leadership in the field of knowledge and understanding development and transfer means a new sensitivity to a society change. They are increasingly consulting their customers. Education inspires societal progress, but at the same time, it must respond with discernment to society by developing appropriate strategies for future study programs.

The increase in the investment complications in the current environment has increase the need of the good quality financial advices services. Based on this, the aim of the study is being to investigate the join effect of risk tolerance (RT) and risk perception (RP) on the individual risky asset allocation decision along with the other essential variable in the context of financial advice which is consist of financial literacy and trust. For this purpose, data was collected from the 210 financial advisors of the banking sectors by using a convenient sampling technique which yield a 70% response rate. For analysis, Structural Equation Modeling (SEM) technique was employed. The SEM analysis has shown that trust has positive and significant association with the RP and FL, and FL also has a positive and significant association with the risk tolerance and while insignificant with the RP. In addition, RP and RT also have a positive and significant association with the asset allocation in the banking sector of Indonesia. Based on the findings, current study added a body of literature in the empirical findings which could become a new of area of research in future. The research limitations and future directions are also discussed at the end of the study.

This study was performed to evaluate and examine financial literacy and retirement planning in sector employment in Vietnam in the context of financial safety during lifecycle. In order to collect primary data, a questionnaire was designed and distributed to 257 employees in the public and private sectors in Ho Chi Minh City. The results of descriptive analysis indicated that those who work in the public sector have a higher percentage of correct answers to questions about financial literacy and knowledge of social insurance than that of employees in the private sector. The results of a linear probability model (LPM) and two-stage least squares (2SLS) regression show that financial knowledge and regular saving are significant factors that enhance retirement planning, whereas sector employment is insignificant to retirement planning. These findings should improve the knowledge of financial literacy, pensions and social insurance disseminated through retirement seminars and education programs for workers. More research, however, should be conducted on these topics in Vietnam.

The level of citizens’ financial knowledge has a great impact on financial well-being of individuals and society. In this regard public authorities in many countries initiated a process of development and implementation of National strategies to enhance financial literacy level. The initial step of developing a national strategy is evaluation of current situation. Thus, financial literacy measuring issues are frequently debated in the academic and public environment. The goal of the current research is to develop a measurement instrument to evaluate the level of financial knowledge of Latvian citizens. The present paper reflects the results of the authors’ conducted survey based on the sample of 169 respondents. A set of 12 questions on financial matters was developed to detect perceived importance and complexity of financial literacy components, as well as to get financial literacy self-assessment scores. Data was processed by means of SPSS, applying such methods, as analysis of means, analysis of frequencies and independent samples t-test. Received results assist to precise the content and wording of questions to be included into the questionnaire for evaluation financial literacy level of Latvian citizens.