VTechWorks Repository :: Browsing by Author "Kratzer, Constance Y."

Browsing by Author "Kratzer, Constance Y."

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Characteristics and practices of financially-stressed homeowners in Prince William County, Virginia
O'Neill, Barbara Mary (Virginia Tech, 1995)
This study was designed to examine characteristics of overextended homeowners and to determine to what extent financial difficulty, as measured by the back-end financial ratio (principal, interest, taxes, and insurance, plus consumer credit payments, divided by gross monthly income), can be explained by a combination of affective and objective attributes and precipitating life events. The Parrott and Lytton (1993) Model of Family Housing Stability was used as the theoretical basis of this investigation. Demographic characteristics; financial characteristics, including net worth and financial ratios; money management characteristics and practices; recently-experienced life events; and psychological characteristics of the sample were reported. Data were obtained from a convenience sample of Prince William County, Virginia residents who were clients of a Cooperative Extension financial counseling program. Two sources of data were used: a 169-item survey instrument and a financial profile. Of the 519 cases where both a financial profile and a survey were completed, 245 were homeowners and comprised the sample. Demographic characteristics of the sample were found to be dissimilar to those of Virginia and U.S. citizens. Respondents had lower median incomes, and a higher percentage of ethnic minorities and households with children living at home. Descriptive statistics were used to profile sample households. A quarter of the sample had a negative net worth and the mean amount of liquid assets covered one week’s expenses. Almost three-quarters of sample households had monthly household expenses that exceeded income. Over 80% experienced three or more life events that affected their finances. The most frequently-reported event was unemployment. Seventeen independent variables were regressed on the dependent variable to produce a statistically significant R² of .3138 (p <.0001). Objective and affective attributes and precipitating life events were also regressed as blocks on the dependent variable. Only the objective attribute group was significant, accounting for approximately a quarter of the variance in financial difficulty. Only one individual variable, the number of household earners, was significant in explaining variance in the dependent variable. A negative coefficient indicated that, as the number of wage earners was reduced, the back-end ratio of sample households increased.
Community collaboration for human services: a case study of school-aged child care in Fauquier County, Virginia
Butterfield, Beverly S. (Virginia Tech, 1996-09-12)
At a time when problems faced by youth and families are complex and multi-faceted, organizations serving this audience have limited resources and find single-agency, categorical approaches inadequate. Collaboration offers communities a process to create solutions that are holistic and maximize resources. The purposes of this study were to examine factors necessary for collaboration and to assess barriers and incentives for these relationships. Case study methodology was applied to a rural community child care collaborative in Fauquier County, Virginia. All members who had ever served on the Board of Directors for this collaborative program were surveyed. The theoretical basis for research were 19 factors associated 'Nith collaboration identified by Mattessich & Monsey (1992). Respondents were asked to determine to what extent they considered these factors to be important and to what extent they were evident in the collaboration studied. In addition, open ended questions probed barriers and incentives for collaboration as experienced by respondents.
Consumer Knowledge of Middlesex, Virginia High School Students
Kyle, Kendra J. (Virginia Tech, 1998-07-17)
This study was designed to help those persons developing and delivering consumer education curriculum understand the needs of Middlesex, Virginia High School Students. The instrument used was a consumer knowledge survey developed by a partnership between the Consumer Federation of American and American Express. The 52 item questionnaire was designed to measure knowledge in six key areas of consumption-consumer credit, checking/savings accounts, automobile insurance, housing rental, food purchase, and automobile purchase. The respondents were students attending Middlesex High School from the four grade levels with completed Informed Consent forms. There were 55 respondents from a total pool of 375 (freshmen, 44%; sophomores, 27%; juniors, 13%; and seniors, 16%). Descriptive statistics were used for demographic items. Non-statistical comparisons were made between grade levels, descriptive demographic characteristics, and consumer categories. Comparisons were also made between the data collected and the data of the national consumer knowledge survey by the Consumer Federation of America and American Express Company. The results indicate that Middlesex High School students were not well prepared for the world of consumption. Overall, the students who responded had limited understanding of consumer knowledge in the six specific areas. The average score was 39%. Students had the poorest understanding of consumer credit, auto insurance, and food purchases. Scores for these category areas averaged less than 40%. The students scored highest on housing rental (45%) and checking/savings accounts (44%). The seniors scored the highest overall score (48%), which was higher than the national average of high school seniors (42%).
The Effects of Workplace Financial Education on Personal Finances and Work Outcomes
Kim, Jinhee (Virginia Tech, 2000-04-14)
The purpose of this research was to examine the effects of workplace financial education on workers' personal finances and work outcomes and determine relationships among financial management (attitudes, knowledge and behaviors), financial well-being, personal finance-work conflict, and work outcomes with data of white-collar workers in an insurance company in mid-western states. Research questions were (1) What are the profiles of financial attitudes, financial knowledge, financial behaviors, financial well-being, personal finance-work conflict, productivity, absenteeism, work time use, organizational commitment, pay satisfaction, loyalty, and intention to leave?, (2) Do the profiles of financial attitudes, financial knowledge, financial behaviors, and financial well-being differ by the individual characteristics?, (3) Do the profiles of personal finance-work conflict, productivity, absenteeism, work time use, organizational commitment, and pay satisfaction differ by the individual characteristics?, (4) What are the relationships among financial attitudes, financial knowledge, financial behaviors, financial well-being, and work outcomes (productivity, absenteeism, organizational commitment, and pay satisfaction)?, (5) What are the effects of workplace financial education on financial attitudes, financial knowledge, financial behaviors, financial well-being, and work outcomes?, and (6) What are the individual profiles of workplace financial education including participation, value of workplace financial education, reasons for participation and non-participation, desire for financial check-up, and desired topics of workplace financial education? The research design was a pre- and post-assessment survey. A pre-assessment survey was conducted in February and March 1999 before workplace financial education was provided during March 1999. One-and one-half hour workplace financial education workshops were provided at no cost to employer or employees in March 1999. Three months after the workplace financial education was provided, a post-assessment survey was conducted from June through August 1999. A pre-assessment questionnaire was mailed to all 476 workers (five were undeliverable) and 262 responses were utilized for data analysis. In the post-assessment, 482 questionnaires were mailed to workers and five were undeliverable. Usable return rates for the data analysis were 56.0% in the pre-assessment (262/471) and 40.0% in the post-assessment (189/477). Overall, the respondents in this study were somewhat positive toward financial management, were not knowledgeable on financial matters, and were practicing their financial behaviors fairly well. Objective financial well-being measures showed that workers were in fairly good financial condition but the levels of subjective financial well-being were about the mid-point on a scale, when each score was converted into a percentage. The workers reported that they were very productive, did not miss work days frequently, were highly committed to their organization, and they showed fairly high levels of pay satisfaction. Workers were very hesitant to admit to direct questions asking about whether or not their financial concerns interfered with their responsibilities at the workplace while they were not always able to do normal work even though they were present in the office and spent some work time handling financial matters. Some of individual characteristics influenced financial attitude, financial knowledge, financial behavior, financial well-being, personal finance-work outcomes, and work outcomes. The tests of the structural equation model showed that worker's personal finances had direct and indirect effects on work outcomes. The financial well-being had a negative effect on personal finance-work conflict. The financial well-being had direct effects on negative work time use and pay satisfaction. The financial well-being had indirect effects through personal finance-work conflict on absenteeism, negative work time use, and organizational commitment. The t-test results did not show the significant effects of workplace financial education on personal finances and work outcomes between the pre- and the post-assessment.
Home Repair Experiences of Older Consumers in Montgomery County, Virginia
Campbell, Cristin L. (Virginia Tech, 1998-10-13)
This study was designed to explore the offers for home repair received at their door by older consumers and the decisions that were made regarding these offers. Deacon and Firebaugh's decision making process was used as the theoretical model for this study. Participants were asked questions about their experiences with door-to-door solicitations for home repair and how they made the decision to accept or reject the offer. The participants in this study were twenty-five older consumers involved in senior groups in Montgomery County, Virginia. Participants were obtained by the researcher at meetings in different parts of the county. A telephone interview was used to collect the data. Demographic data is reported using descriptive statistics. Qualitative analysis of anecdotal data was used to determine themes and patterns in the interview data. Questions about uses of the media and knowledge of the Virginia Consumer Protection Hotline were asked. The results of this study support the idea that older consumers in this county are being approached at their door by people offering them home repair services. Two of the six participants who had received an offer for home repair (specifically driveway sealing), accepted the offer. One participant was unhappy with the outcome of the repair, while the other was satisfied with the service.
Investing in Children: Study of Rural Families in Indonesia
Hartoyo (Virginia Tech, 1998-02-09)
One of the family's responsibilities is to conduct activities of early childhood education and child care which prepare children for further education and human capital development. This study focused on family behavior in allocation of time and income for investment in children. This study used a pre-existing database with a total sample of 301 rural families with one child aged 2-5 years from three villages of Agam (West Sumatera) and two villages of Wonogiri (Central Java). Interviews and testing were conducted at each sample's home. The data were analyzed using descriptive and statistical analyses. Rich and small families invested significantly more time and money in children than poor and large families. Mother's working time, child's age, and family type had negative and significant influence on the amount of time spent on children. The families that devote more time in children spend and invest less money in children. Javanese families in the study invested less money but more time in children, while Minangese families invested more money but less time. The amount of time spent for children had a positive and significant influence on the child's nutritional status, and an insignificant impact on the child's IQ score. Besides the amount of time devoted to children, the child's nutritional status also was influenced by the child's age and gender. Also, the child's IQ score was significantly and positively influenced by the father's education and negatively by family size, family type, and the child's age. Based on the findings, it was apparent that poor families may be continuously trapped in poverty, because of less ability to invest in children. Parental investment in children may lead to better child quality. This study provides evidence that mother's time spent outside the home may lead to less time investment, and less time investment may negatively influence the child's nutritional status. As policy is formulated, non-economic as well as economic aspects should be considered. Additional research is needed to further explore the most appropriate measure of child quality and the variables which influence child quality.
Investor Risk Tolerance: Testing The Efficacy Of Demographics As Differentiating and Classifying Factors
Grable, John E. (Virginia Tech, 1997-10-20)
This study was designed to determine whether the variables gender, age, marital status, occupation, self-employment, income, race, and education could be used individually or in combination to both differentiate among levels of investor risk tolerance and classify individuals into risk-tolerance categories. The Leimberg, Satinsky, LeClair, and Doyle (1993) financial management model was used as the theoretical basis for this study. The model explains the process of how investment managers effectively develop plans to allocate a client's scarce investment resources to meet financial objectives. An empirical model for categorizing investors into risk-tolerance categories using demographic factors was developed and empirically tested using data from the 1992 Survey of Consumer Finances (SCF) (N = 2,626). The average respondent was affluent and best represented the profile of an investment management client. Based on findings from a multiple discriminant analysis test it was determined that respondent demographic characteristics were significant in differentiating among levels of risk tolerance at the p < .0001 level (i.e., gender, married, single but previously married, professional occupational status, self-employment status, income, White, Black, and Hispanic racial background, and educational level), while three demographic characteristics were found to be statistically insignificant (i.e., age, Asian racial background, and never married). Multiple discriminant analysis also revealed that the demographic variables examined in this study explained approximately 20% of the variance among the three levels of investor risk tolerance. Classification equations were generated. The classification procedure offered only a 20% improvement-over-chance, which was determined to be a low proportional reduction in error. The classification procedure also generated unacceptable levels of false positive classifications, which led to over classification of respondents into high and no risk-tolerance categories, while under classifying respondents into the average risk-tolerance category. Two demographic characteristics were determined to be the most effective in differentiating among and classifying respondents into risk-tolerance categories. Classes of risk tolerance differed most widely on respondents' educational level and gender. Educational level of respondents was determined to be the most significant optimizing factor. It also was concluded that demographic characteristics provide only a starting point in assessing investor risk tolerance. Understanding risk tolerance is a complicated process that goes beyond the exclusive use of demographic characteristics. More research is needed to determine which additional factors can be used by investment managers to increase the explained variance in risk-tolerance differences.
Perception of Consumer Problems and Concerns Related to Consumer Protection and Education: a Comparative Study Between American and Egyptian Academic Communities
El Badawy, Tarek Aly (Virginia Tech, 2001-04-20)
The purpose of this study was to explore differences in the perceived consumer problems and concerns between American and Egyptian consumers, as measured by a composite score for perception of problems. The relationships between fourteen independent variables and perceived consumer problems of American and Egyptian consumers also were examined. The independent variables that were studied include: perceived adequacy of income, perceived improvement in living situations, expectations and experiences with products, attitudes toward government, attitudes toward business as consumer protection agencies, attitudes toward consumer education efforts, and demographic variables of gender, age, marital status, presence of children, family annual income, education level, employment status, and university position. Specific objectives of this study were: (1) To determine if there are differences between American and Egyptian consumers in the following areas: perception of consumer problems; concerns related to price, quality, safety, labeling and information, and concerns about the environmental effects of products and their packaging; needs fulfillment related to perceived adequacy of income, needs fulfillment related to perceived improvement in living situations; expectations and experiences with products; attitudes toward consumer protection efforts by government; attitudes toward consumer protection efforts by business; and attitudes toward consumer education efforts. (2) To analyze relationships between perception of consumer problems and concerns and the following: needs fulfillment related to perceived income adequacy; needs fulfillment related to perceived improvement in living situations; expectations and experiences with products; attitudes toward consumer protection efforts by government; attitudes toward consumer protection efforts by business; and attitudes toward consumer education efforts. (3) To investigate the influence of demographic variables of gender, age, marital status, presence of children, family annual income, education level, university position, and employment status on the perception of consumer problems and concerns. Data were obtained through a questionnaire developed by the researcher. The questionnaire was first developed in English, and then translated into Arabic with a back translation check. The reliability of the instrument was tested with a test-retest procedure. A questionnaire, an explanatory cover letter, and a stamped self-addressed envelope, were mailed to 180 randomly selected respondents at Virginia Tech and Radford University. Graduate students assigned at Ain Shams University and Sadat Academy delivered the questionnaires personally to the 180 randomly selected respondents in both universities in Cairo. The completed questionnaires were collected within three weeks after delivery. There were 112 questionnaires returned from Virginia Tech and Radford University, of which 108 were acceptable for analysis (60%). There were 154 questionnaires returned from Egypt, of which 142 were acceptable for analysis (78.8%). Hence, a total of 250 responses were used in the data analysis for an overall return rate of 69.4%. Procedures for statistical analysis involved eight phases including: the reliability analysis, frequency distribution, chi-square, factor analysis, the two-sample independent t-test, stepwise multiple regression, Analysis of Variance (ANOVA), and discriminant analysis. Results revealed a statistically significant difference in the total score on consumer problems between the two samples. Also, results showed a significant difference in the total score on consumer concerns related to quality, safety, and labeling and information. However, the variables that were found to discriminate the two samples in order of importance were: perception of consumer problems, concerns for quality, concerns for labeling and information, concerns for safety, and concerns for price. The most important concern for all respondents was quality. The majority of the American respondents perceived that they had more adequacy of income and improvement in living situations than the Egyptian respondents. Also, they conveyed a positive attitude toward government regulations and business efforts to protect consumers' interests as opposed to the Egyptian respondents who conveyed a negative attitude toward the same aspects.
Personal Financial Wellness and Worker Job Productivity
Joo, So-hyun (Virginia Tech, 1998-04-15)
The problem that was examined in this research was to develop and test a conceptual model that describes the relationship between personal financial wellness and worker job productivity. The research questions were (1) what is the personal financial wellness profile?; (2) how does the personal financial wellness profile differ by the demographic characteristics?; (3) what is the relationship between financial stressors and personal financial wellness profile?; (4) what is the relationship between personal financial wellness and financial stress level?; (5) what is the worker job productivity profile?; (6) what is the relationship between personal financial wellness and worker job productivity?; (7) what is the relationship between financial stress and worker job productivity?; and (8) what financial education programs do employees want in the future? In order to test a part of the conceptual model, a survey research design was undertaken. A questionnaire was developed and pre-tested. A mail survey (N=474) of white-collar clerical workers of a large employer located in mid-eastern state was conducted during January, February, and March of 1998. From a random sample of 447 (27 out of original 474 were undeliverable), 288 questionnaires were returned (64.4%). Seventeen questionnaires were determined unusable resulting in a 60.4% usable return rate (271/447). In terms of subjective perception, as a group, the respondents were not financially well. In the behavioral assessment, the respondents reported above a mid-point score. On overall financial wellness scales, the respondents were not satisfied with their financial situation. Personal financial wellness was influenced by some of the demographic characteristics and financial stressors. The lower levels of personal financial wellness were related to the financial stress level. Those who have high levels of personal financial wellness reported better performance ratings, less absenteeism, and less work time used for personal financial matters. Workers are interested in comprehensive financial education programs which include retirement education, better use of employee benefits, money management, credit management, and consumer protection. Some workers are not financially well because they have financial problems. If employers can improve personal financial wellness of workers, such as through financial education, it may increase productivity, because personal financial wellness is related to worker productivity.
Welfare Reform: Employers' Perceptions of Factors Associated with Virginia's Initiative for Employment Not Welfare
Wilson, Bernice B. Jr. (Virginia Tech, 1998-04-08)
Welfare reform has been an issue in America for many years. The need to make positive changes to the welfare system escalated to the point that federal legislation was passed in 1996. This legislation mandated that each state establish welfare-to-work programs and require that welfare recipients begin to work or face loss of benefits after two years. Virginia responded to this mandate through its Virginia Initiative for Employment Not Welfare (VIEW), which requires welfare recipients to seek work opportunities. The purpose of this study was to examine employers' perceptions of factors contributing to their participation in VIEW and factors they felt affected welfare recipients' entry into the workforce. The theoretical framework of this study is based on two theories of organizational change: are the innovations and diffusion of innovations models. Interviews were conducted with twelve people who were in decision making roles in businesses that participated in VIEW. The following research questions were used to guide this study: 1. What factors encourage employers to participate in Virginia's Initiative for Employment Not Welfare (VIEW)? Interviews with employers were recorded, transcribed, and coded using the Nud.ist qualitative research software program. Twelve factors were identified: mass media, social services agencies, the Virginia Employment Commission (VEC), other information sources, employability skills, qualifications, work experience, education and training, child care, lack of funds for transportation and appropriate clothing, welfare policies, and a support system or monitoring plan. The first four factors affected employers' decisions to be a part of VIEW; the others were factors they felt affected workforce entry. This study confirms portions of the review of literature relative to research regarding factors that affect the entry of welfare recipients into the workforce. Two major conclusions emerged from the findings: the majority of employers interviewed suggested that welfare policies and child care significantly affected the employment of welfare recipients. Further study is needed to determine what changes are needed in welfare policies and preparation for those entering the workforce. Research should involve both welfare recipients, employers, social services personnel, and job training providers.
Work and Personal Financial Outcomes of Credit Counseling Clients
Bagwell, Dorothy Caroline (Virginia Tech, 2000-08-14)
The purpose of this study was to examine a sample of employed individuals who participated in credit counseling through a non-profit consumer credit counseling agency in the Mid-Atlantic. Using data collected at two points in time, this sample was examined to measure changes in personal financial variables, health status, and work outcomes. The sample respondents were also examined to determine the extent to which they instituted positive financial behaviors following participation in credit counseling. In addition, this research assessed differences in the demographics among the clients. Also studied was the extent to which individual and family characteristics, health status, financial concerns and related stress, and financial wellness accounted for the variance in work outcomes of productivity, presenteeism, and worktime used for personal financial matters. Significant changes in personal financial outcomes, health status, and work outcomes were found between the initial and follow-up study. One year following credit counseling, respondents had decreased levels of financial concerns and financial stress, experienced fewer workloss days, and spent less time using work hours to handle personal financial matters. They also indicated improvements in their level of financial wellness, health status, and job productivity. Respondents had instituted a number of positive financial behaviors since receiving credit counseling one year earlier. Most had reduced some of their personal debts and cut down on living expenses. A model of work and personal financial outcomes was presented in this study. Hierarchical regression analyses using both data sets revealed that health status and financial concerns explained a significant amount of the variance in four work outcomes: (1) productivity, (2) presenteeism, (3) work time used for personal financial matters, and (4) workloss days. Adding financial wellness as the final step in the analysis, did not explain any additional variance in each of the work outcomes. This research assessed only the demographic and personal financial variables explanatory relationships to work outcomes. Therefore, life events beyond these variables may offer additional explanation of the work outcomes. Of importance is that this research provides documentation of positive changes in personal finances and work outcomes of employed individuals who participated in credit counseling one year earlier. In addition, the research presented a model of personal financial and work outcomes that can be advanced through further research.

Browsing by Author "Kratzer, Constance Y."

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