That is the question that we (myself, Roger Mayer of NC State and Jing Zhao at Portland State) recently studied in a paper that’s forthcoming within the finance journal: Monetary Management. Take financial savings as an example. Globally, fifty seven % of adults lower your expenses, however just 27 % use a formal financial establishment, similar to a financial institution, to take action. Others depend on extra precarious and less profitable alternatives, resembling informal financial savings groups or stuffing cash below a mattress. Solely 42 % of account homeowners worldwide use their accounts to save, and forty five p.c of these adult savers are financially literate. Given the benefits derived from utilizing monetary companies, it is important to be sure that persons are capable of managing those companies to their advantage.
Early in the life cycle, the main focus will probably be onÂ potential market dimension or revenue drivers,Â sinceÂ … Read More