Dissertationen zum Thema „Personal Consumer credit“

This thesis aims to chart and explain the evolution of credit practices and the law’s reaction to them vis-à-vis the protection of borrowers between 1700 and 1974. The cat-and-mouse game played out between the credit industry and the legislature, and the longstanding tension between the credit needs of the commercial community and those of the small private borrower are of central importance. This thesis is primarily historical rather than theoretical; it seeks to describe and explain legal developments over time. But, in order to illuminate this development, the law will be viewed through the lens of a simple analytical framework based on the dichotomy between public law regulation, on the one hand, and the private law of contract, on the other. Viewed through this lens, it should be possible to position the law at any given stage of its development at a particular point on a scale of ‘regulatoriness’. The framework within which these rules were originally developed was, of course, neither intentionally nor self-consciously theoretical, but that is not to say that a theoretical framework lacks utility in legal historical inquiry.

Thesis (Ph. D.)--Dept. of Economics. University of Missouri--Kansas City, 2005.
"A dissertation in economics and social science consortium." Advisor: James I. Sturgeon. Typescript. Vita. Title from "catalog record" of the print edition Description based on contents viewed June 26, 2006. Includes bibliographical references (leaves 149-161 ). Online version of the print edition.

My project considers the extent to which personal insolvency law has evolved, and should evolve, to meet the conditions of the modern consumer credit society. I illustrate how unprecedented household borrowing has become essential to sustaining macro-economic growth and household living standards, and present economic theories explaining this development, as well as the legal/regulatory norms which facilitated it. Exploring insolvency law theory (particularly ideas from law and economics), I then contrast the law’s traditional debt collection objective with the more recently developed fresh start policy in arguing that the circumstances of modern consumer over-indebtedness require a re-orientation of the law to prioritise its debt relief objective. I explore next factors influencing the development of consumer insolvency law. I contrast the laws of England and Wales, Ireland, France and Belgium, highlighting the extent to which each law is oriented towards the goals of debt collection or debt relief. Using empirical data to question theories which attribute such differences to contrasting legal traditions, social welfare systems or cultural values, I argue that political factors such as interest group influence and shifting policy salience have been more influential in shaping laws, and may occasionally impede the advancement of the fresh start policy. Next I evaluate the extent to which the realities of consumer over-indebtedness and the fresh start policy have been accepted by English policymakers, administrators and courts. My case studies focus on the conditions for access, scope of debt relief, and sanctions for culpable debtors under English personal insolvency procedures. I argue that in certain aspects English law has not departed sufficiently from its origins in commercial law and its traditional role as a debt collection mechanism. I propose reforms which would allow the law to reflect better its transformation into a de facto consumer law and its need to embrace more comprehensively the fresh start policy.

Thesis (MDevF (Business Management))--University of Stellenbosch, 2010.
ENGLISH ABSTRACT: In the realm of consumer behaviour research, discussions regarding materialism – commonly defined as the desire to consume – indebtedness and low-income consumerism have become almost unavoidable. This is to be expected in a society where spending patterns are constantly evolving, levels of indebtedness are steadily increasing and interest in the so-called ‘bottom of the pyramid’ consumers has been heightened. In South Africa, studies have found changes in consumption and credit usage to not only be significant, but also particularly relevant amongst low-income consumers. While this changing culture of consumption has been widely acknowledged, there has been little empirical research on consumer behaviour in South Africa and even less on low-income consumerism. For this reason a study was developed, which sought to explore the relationship between materialism and indebtedness among a sample of low-income, instalment paying consumers of South Africa’s leading catalogue retailer. Through use of a mailed self-completion survey questionnaire, consumers of the targeted retailer were asked to indicate their level of materialism, as measured using a materialism scale, and to report their level of indebtedness, measured as the number of retail store accounts held. In addition, key demographic data, consisting of the respondents’ age, gender and monthly income, was drawn from the retailer’s database. Using this data the study assessed whether (i) the sampled consumers displayed strong characteristics of materialism and (ii) whether materialism is a significant variable in predicting the sampled consumers’ propensity for incurring debt. Data analysis techniques applied in this study included tests to measure the reliability of the materialism scale as well as a variety of descriptive and inferential statistical tools, designed to identify relationships in the collected data. Using these techniques, this study found that sampled low-income consumers are indeed highly materialistic, with levels of materialism observed in this study being significantly higher than in a previous materialism study where a low-income earning consumer sample was used. Regarding levels of indebtedness, regression and correlation analysis performed suggested the presence of statistically significant relationships between consumers’ levels of indebtedness and each of the demographic variables of age and gender. However, materialism and monthly income was not found to be significant variables in determining a consumer’s level of indebtedness. While the decision to delineate this study based on the consumers of one particular retailer limits the extent to which findings can be generalised to the larger South African population, the results do provide a number of important insights, which contributes to the scant body of literature on low-income consumer behaviour in this country.
AFRIKAANSE OPSOMMING: Op die navorsingsveld oor verbruikersgedrag het die gesprek rondom die voorkoms van materialisme (wat gewoonlik gedefinieer word as die behoefte om te verbruik), verbruikersdruk en die skuldlas onder lae inkomstegroepe byna onvermydelik geword. Dit is te verwagte in ’n samelewing waar bestedingspatrone voortdurend ontwikkel, skuldlasvlakke aan die groei is en die belangstelling in verbruikers op die onderste vlak van die sogenaamde piramide verskerp het. Studies in Suid-Afrika dui aan dat, onder lae inkomste verbruikers, die verskille in verbruikersgedrag en kredietgebruik nie net opvallend nie maar ook besonder ter saaklik is. Hoewel die verandering in verbruikerskultuur rondom besteding reeds wyd beskryf is, is daar nog nie veel empiriese navorsing oor verbruikersgedrag gedoen nie – en nog minder onder lae inkomstegroepe. Dit is om hierdie rede dat ’n studie ontwerp is om die verhouding tussen materialisme en skuldlas te ondersoek onder ’n steekproef van lae inkomste huurkoopverbruikers van Suid-Afrika se grootste kataloguskleinhandelaar. Daar is gebruik gemaak van ’n vraelys vir die opname, wat aan die verbruikers gepos is en deur hulle ingevul is. Verbruikers is gevra om die vlak van hul materialisme aan te dui, soos gemeet volgens die gebruik van ’n skaal of maatstaf vir materialisme; en om hul skuldlas weer te gee, gemeet aan die aantal rekeninge wat hulle by kleinhandelwinkels het. Belangrike demografiese data, soos die respondente se ouderdom, geslag en maandelikse inkomste, is verkry uit die kleinhandelaar se databasis. Hierdie data is gebruik om te bepaal, (i) of die steekproefverbruikers ’n sterk neiging tot materialisme toon, en (ii) of materialisme ’n beduidende rol speel in die voorspelbaarheid van die mate waartoe die steekproefverbruikers hulle aan skuld sal blootstel. Tegnieke wat in die studie gebruik is vir data-analise sluit toetse in wat die betroubaarheid van die maatstawwe vir materialisme meet, asook ’n aantal beskrywende en afleibare statistiese metodes wat ontwerp is om verhoudings in die versamelde data te identifiseer. Deur die gebruik van hierdie tegnieke het die studie gevind dat hierdie steekproef van lae inkomste verbruikers inderdaad hoogs materialisties is, en dat die vlakke van materialisme wat waargeneem is, beduidend hoër is as wat gevind is in ’n vorige studie onder ’n steekproef van lae-inkomste verbruikers. Met betrekking tot skuldlasverpligtinge, het die regressie- en korrelasie-analise wat gedoen is die bestaan van statisties beduidende verhoudinge tussen verbruikers se skuldlasvlakke en die demografiese veranderlikes van ouderdom en geslag aangedui. Daar is egter gevind materialisme en maandelikse inkomste is nie beduidende veranderlikes in die bepaling van ’n verbruiker se skuldlas nie. Hoewel die ontwerp van hierdie studie om verbruikers van slegs ’n enkele kleinhandelaar in te sluit ’n beperking plaas op die toepasbaarheid van die bevindinge op die wyer Suid-Afrikaanse bevolking, het die resultate ’n aantal belangrike insigte verskaf wat bydra tot die klein hoeveelheid bestaande literatuur oor lae inkomste verbruikersgedrag in die land.

Thesis (Ph. D.)--Ohio State University, 2005.
Title from first page of PDF file. Document formatted into pages; contains xii, 174 p.; also includes graphics (some col.). Includes bibliographical references (p. 154-160). Available online via OhioLINK's ETD Center

Thesis (MBA)--Stellenbosch University, 2007.
ENGLISH ABSTRACT: is a common misconception that marketing is all about advertising and other promotional activities. These activities are only part of the marketing process which is in fact about identifying the wants and needs of certain customers and satisfying them better than the competition. However, it must also be borne in mind that these needs and wants change over time as customers change positions in the customer lifecycle. The customer lifecycle of a Woolworths Financial Services personal loan customer is not unlike the generic customer lifecycle of acquisition, development and retention and as such aligns with the principles associated with this theory – acquire, develop and retain as many customers as possible at the lowest cost. The current marketing practices of Woolworths Financial Services are not targeted, focusing on the entire base of prospective customers without any differentiation between those who would most likely respond and those who would not. These practices, however, have provided the opportunity to gain valuable information about the characteristics of those who do respond and those who do not. The use of data mining and regression analysis models (developed on this data) can provide the ability to effectively predict the response curve – ranking and assigning probabilities based on customer behaviour. That being said, these probabilities are of little use if they are not used to optimise the structure of marketing campaigns by determining where to differentiate an offer or not. It is here that mathematical science provides a solution through the optimisation process – the process of computing the mix of variables that provides the best result – in this case the highest number of customers acquired, developed and retained within the constraints of a defined marketing budget. Finally, the result of this process culminates in an increase in shareholder value which would not have been achieved through existing marketing products. The risk associated with implementing this process is negligible, based on empirical evidence regarding the impact of differentiated offers on response rates and as such must be implemented wherever possible.
AFRIKAANSE OPSOMMING: Dit is ‘n algemene wanopvatting dat bemarking net oor advertensie en ander reklame aktiwitiete gaan. Hierdie aktiwiteite is slegs ‘n deel van die bemarkingsproses wat eintlik gaan oor die identifisering van die behoeftes van sekere kliënte en om hulle beter as die opposisie te kan bedien. Dit moet egter in gedagte gehou word dat die behoeftes van kliente oor tyd verander as hulle posisies skuif in die kliëntelewenssiklus. Die kliëntelewenssiklus van ‘n Woolworths Finansiële Dienste persoonlikeleningskliënt is nie anders as die gemiddelde kliëntelewensiklus van verkryging, ontwikkeling en retensie nie, en vergelyk dus met die beginsels wat met hierdie teorie geassosieer word – verkry, ontwikkel en behou so veel as moontlik kliënte teen die laagste koste. Die huidige bemarkingsprosesse van Woolworths Finansiële Dienste is nie beperk nie en fokus op die algehele moontlike kliëntebasis sonder om te onderskei tussen dié wat heel moontlik sal reageer en dié wat nie sal nie. Hierdie praktyk het egter die geleentheid geskep om waardevolle inligting te bekom oor dié wat reageer en dié wat nie reageer nie. Die gebruik van dataontleding en regressie analise modelle (ontwikkel op hierdie data) kan die vermoë skep om effektief die reaksiekurwe te voorspel – rangskikking en aanwysing van waarskynlikhede gebaseer op kliëntegedrag. Gegewe dié afleiding, is hierdie waarskynlikhede van geringe belang as dit nie aangewend word om die struktuur van die bemarkingsveldtog te optimeer deur te bepaal of ‘n aanbieding gewysig moet word of nie. Dit is hier waar wiskundige metodes ‘n oplossing bied deur die optimeringsproses – in hierdie geval die meeste kliënte wat verkry, ontwikkel en behou kan word binne die beperkinge van ‘n geïdentifiseerde bemarkingsbegroting. Ten slotte, die resultaat van hierdie proses lei tot ‘n toename in aandeelhouerwaarde wat nie moontlik sou wees deur bestaande bemarkingsprodukte nie. Die risiko met die implementering van hierdie proses is weglaatbaar klein, gebaseer op die empiriese bewyse aangaande die impak van gedifferensieerde aanbiedings op reaksiekoerse en moet dus geïmplementeer word waar moontlik.

Doctor of Philosophy
Department of Human Ecology-Personal Financial Planning
Kristy L. Pederson-Archuleta
The purpose of this dissertation was to examine the factors associated with students’ intentions to not possess and use a credit card. This dissertation focused on exploring a sample of undergraduate college students who do not possess a credit card. There is little known research on this group of students. The dissertation was directed by the following over-arching research question: The goal of this study was to explore college students’ beliefs about not possessing a credit card using the Theory of Reasoned Action (TRA). The research questions for this dissertation were: (a) How is personality (i.e., individual background factor) of undergraduate college students associated with their behavioral, normative, and control beliefs to not possess a credit card, (b) How are education level, age, gender, income level, religiosity, marital status, and ethnicity (i.e., social background factors) of undergraduate college students associated with their behavioral, normative, and control beliefs to not possess a credit card, and (c) How is financial knowledge (i.e., information background factor) of undergraduate college students associated with their behavioral, normative, and control beliefs to not possess a credit card. This study collected primary data. A pilot study was conducted to set the stage for the data collection of the current study. The data analysis methodology for this study consisted of the following four methods: (a) Factor Analysis, (b) Correlation Analysis, (c) MANOVA, and (d) Discriminant Function Analysis. Factor analysis identified questions were used to develop scales to measure the dependent variables. Strong reliability estimates were obtained, ranging from .84 to .94. The MANOVA test identified seven hypotheses with statistically significant results < .05. Control beliefs were significantly associated with personality. The five personality types, extraversion, agreeableness, conscientiousness, neuroticism, and openness, were all found to be significantly associated with either behavioral beliefs, control beliefs, or injunctive normative beliefs. Extraversion, agreeableness, conscientiousness, and neuroticism were all found to be associated with control beliefs. While agreeableness was also associated with injunctive normative beliefs, openness was found to be associated with behavioral beliefs. Financial knowledge was found to be associated with control beliefs. Discriminant function analysis was performed as a confirmatory test of the results from the MANOVA test, and supported the results of the MANOVA for six of the hypotheses.

O presente trabalho investiga a utilização do crédito concedido à população de baixa renda e o comportamento dos membros dessa população diante da necessidade de gerir endividamentos. O estudo se concentra na dificuldade - atestada pelo IBGE - desses consumidores chegarem ao final do mês com seus pagamentos em dia e com recursos para satisfazer as necessidades básicas de consumo. O estudo se desenvolve por meio de entrevistas qualitativas, com as quais explora a experiência e vivência do consumidor de baixa renda durante o processo de empréstimo e gerenciamento das dívidas. As entrevistas - gravadas e transcritas - produzem dados que são utilizados para identificar tanto os temas relacionados ao endividamento quanto a problemática associada aos consumidores tais como negociação de dívidas, acúmulo de dívidas, compulsividade na utilização de cartões de crédito, controle de gastos e outros mais. O estudo mostra que, apesar da oferta de crédito para a população de baixa renda vir sofrendo uma significativa expansão ao longo dos anos, ela causa transtornos para pessoas que utilizam o crédito sem planejamento rigoroso de seus gastos. Enquanto a maior oferta pode vir a desempenhar um papel estratégico no alívio da pobreza das classes menos favorecidas, a utilização do crédito ainda revela dificuldades decorrentes da manipulação, implícita ou explícita, por parte das instituições que operam nesse mercado. Além de outros resultados, o estudo salienta a necessidade de conscientização e esclarecimento em relação à utilização do crédito e a adoção de valores mais razoáveis tanto com relação aos juros referentes à quitação das dívidas quanto pelos objetivos para os quais os empréstimos são concedidos.
This document is a survey on the use of credit available to low income class in Brazil, and about the behavior of these consumers in managing their debts. The study focus on the difficulty - confirmed by IBGE (the Brazilian Institute for Geography and Statistics) - this population has to get to the end of the month with their bills duly paid and still have enough resources to provide their basic needs. The study has been developed using qualitative interviews to explore the experience and the way the low income consumer faces the process, from borrowing money to the management of the debt. These interviews, recorded and transcript, produced data used to identify subjects related to indebtedness, accumulation of debt, compulsive use of credit cards, as well as the control of expenses and some others. The research shows that, in spite of the significant expansion on the offer of credit to the low income population along the years, it is a cause of trouble for people that use credit without planning carefully their expenses. While, on one hand, the larger offer of credit may play a strategic role in relieving the poverty effects in the less fortunate classes, on the other, using what could be a benefit remains difficult due to the manipulation practices that, explicit or implicitly, credit institutions operating in this sector commonly use to make business. Besides other outputs, the current study points out the need for the taker to be more conscious and to get clarification on the use of credit, but also on the adoption of more reasonable interest rates related to payment term, as well as on a careful previous analysis by the financial institution on the objectives for which the money is being lent.

The diploma work is concerned with the topic of bank client security, as a consumer and an investor, captured in the Czech law, incorporating elements of EU directives. The thesis defines terms of "consumer" and "investor", explains why they are considered bank clients and introduces reasons of their protection. It describes elements of bank clients' protection such as: deposit insurance (including comparison of foreign systems - Switzerland and New Zealand), consumer credits rules, payment system and Bureau of Financial Arbiter, personal information security and bank secret. The last chapter addresses investor protection, falling under European directive MiFID (Markets in Financial Instruments Directive).

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The present research has sought to explain the context and usage of credit financial products in Brazil, considering the recent scenario of financial inclusion. Thus, the research has sought to verify the relation between the level of financial literacy of the individuals and the quality in decision making when consuming credit financial products. Also, the research discusses the relevant terms related to the theme and the main credit products recently offered by the financial institutions in the national market. Considering the focus of this research, the present work has allowed evaluation of the level of financial literacy of 317university students interviewed in a private university in the city of Sao Paulo regarding credit usage. Finally, the work proves that the higher the financial literacy level, the better the decision making in credit products consumption by the university students is, since they make choices that involve lower costs.
A presente pesquisa procurou explorar o contexto e utiliza????o de produtos financeiros de cr??dito no Brasil, considerando o recente cen??rio de inclus??o financeira. Assim, o estudo buscou verificar a rela????o entre o grau de alfabetiza????o financeira dos indiv??duos e a qualidade de suas decis??es ao consumir produtos financeiros de cr??dito. O estudo, ainda, discorre sobre os termos pertinentes ao tema e os principais produtos de cr??dito oferecidos atualmente pelas institui????es financeiras que atuam no mercado nacional. Levando-se em considera????o o objeto de pesquisa, o presente trabalho permitiu avaliar o grau de alfabetiza????o financeira de317 estudantes universit??rios entrevistados em uma universidade particular no centro da cidade de S??o Paulo no tocante ?? utiliza????o de produtos de cr??dito. Por fim, o trabalho comprova que quanto maior o n??vel de alfabetiza????o financeira, melhor s??o as tomadas de decis??o pelos universit??rios no consumo de produtos de cr??dito, uma vez que eles optam por opera????es de menor custo

碩士
國立雲林科技大學
財務金融系碩士班
91
Under the environment of financial holding companies established one after another, the financial institutions in Taiwan had confronted a challenge never happened before. Meanwhile, the influence from the depression of the economics around the world, the soar of non-performing loans ratio from banks, the diminution of rate differentia substantially, and in addition to the capabilities of making profits decreasingly day after day, these factors will affect the operation and business to banks. Therefore, banks should have take the action of pursuing margin increasingly and reducing the non-performing loans ratio as their main goals. On the other hand, personal consumers credit loan has a big range of rate differentia and a good way to scatter risks, so public and private banks get involve into this business to contend this big bread sequentially. But in order to enhance and raise the operating performance and create more margins, banks should build up a set of credit rating system to detect customers’ credibility rapidly, to sift out good customers, and to prevent the risks from customers with bad credibility. The object and target to this research is focused on one of Taiwan’s financial institutions and is collected 626 cases, which includes 157 default cases and 469 normal cases. Also, documents, archives and credit scoring from this example of this case bank are studied and 16 variables that affect customers to break agreement to default are figured out and concluded. Through Logit Model and T-Test, nine variables are main factors to explain default, which are (1)gender,(2)vocation, (3) salary, (4) age, (5)marital status, (6)credit of bank loan, (7)liabilities ratio, (8)period of loan, (9) rate of loan. Besides, it is found that they are irrelevant between credit scoring list of this bank and Logit Model that forecast delinquency rate. However, the forecast of Logit Model is better than credit scoring to this bank. So this bank can knock customers with high risk out, then to decrease non-performing loans and make more profits if they introduce Logit Model instead of their credit scoring to anticipate borrowers’ credit risks.

碩士
國立中興大學
高階經理人碩士在職專班
93
Abstract The competition among banks in Taiwan has been fierce. The consumer loan business, part of consumer banking, has become more important than ever for banks because of its high profit margins. But to ensure that the consumer loan business can bring profits, banks must have good measures to evaluate a loan applicant’s credit. This research is to build a risk evaluation model that is practical to use for a bank. We hope it can help a bank to effectively evaluate the credit risk of a loan applicant when the bank reviews the case, lower the probability of late payments or defaults, and therefore raise a bank’s expected profit. Our study focuses on a Taiwanese bank and sampled 300 cases, including 150 default cases and 150 normal cases. The data cover the period from January 2003 to December 2005. We study 19 variables that might affect borrowers’ defaulting on loans. Using the Logistic regression model, we find five significant factors: (1) years of schooling, (2) whether an applicant locates in a different city than the bank, (3) length of period of working, (4) the amount of remaining bank loans, and (5) inquiries made to JCIC in the past three months. Among the five factors, the second and the fourth factors are new to the literature. Keywords: consumer loan business, personal consumer credit loan, Logistic regression model

碩士
逢甲大學
經營管理碩士在職專班
101
The purpose of this study is to analyze credit risk assessment model of personal consumer credit loans.The financial institutions in recent years dut to the mortgage interest rate is generally low and low profits． By order of the risk for loans to SMEs，have truned to the development of the consumer finance business，personal consumer credit various financial institutions has become a battleground．Financial institutions in order to avoid intra-industry competition excessive credit expansion，leading to a rapid rise in NPL ratio,and a serious erosion of profit to diversify risk and increase profitability,financial institustions should establish a set of objective and fair credit assessment model．To assist the Audit quickly approved loan amount and other terms and conditions of the loan，banks also need to take into account the risks in the pursuit of profit at the same time control．Bank in the promotion of consumer credit loans business mode by risk variables for analysis,screening out high-risk cases. It believe can improve bank earnings，taking into account the good credit quality，and avoid derivative on many social and economic problems． Among consumer finance business in the financial sector.In recent years，the financial institutions in the audit of the micro-credit application，and more from the past the levy presiding officer of the experience to judge turned to the use of credit scoring system auxiliary to enhance operational efficiency．Therefore，to develop its business，it is necessary to build micro-credit unsecured loan default models.Are based on the previous literature central Bank A consumer credit loans credit underwriting customers research and analysis.In this study,logistic regression analysis to build early warming of default models.And gather more risk factors in the pre-build.Than build import Bank of the cost of verification,to find out more predictive of risk prediction model.The results showed that the five default or not enough to affect the credit risk factor.The bank can be adjusted according to the forecast results levy credit operations，and risk management work.Also found that in the process of validating,a loss of cases of non-compliance is not equal to a case of default income.That is,banks are only good risk management to build predictive power of up to approximately warning model，to prudent business and maintain profitability.

碩士
輔仁大學
金融與國際企業學系金融碩士在職專班
105
The research data sources are based on 16,649 cases of domestic F-Commercial Banks individual domestic consumer loan applications in 2016. It discussed the factors that may affect the credit risk. According to "transaction broker" and "regional attribute", the F commercial banks, the credit risk factors of the different intermediaries are the results of the preferred housing agency and the general housing agency. The influence of the credit risk factor on the loan interest rate is similar to that of the whole sample；Such as the loan-raising part, the gender, the age are significantly affecting the bank loan interest rate. Other factors that can impact the bank loan interest rates are, the house is self-occupied or not, the service year, the annual income, the education level, the loan period, and the grace period. However, the result from the general housing agency, the independent book and the construction business show that most of the credit risk factors are not significantly related to the loan interest rate. The study found that the general housing agency, the independent record keeper and the builders do not consider the traditional credit risk factor influencing the loan interest rate. Compared to the preferred housing agency and the general housing agency (the special housing agency, independent books and builders Mortgage cases do not take into account the traditional credit risk factors influencing the mortgage loan interest rate). The results of this study can be a good management reference for personal consumption of financial housing loans credit practice, a banks mortgage credit evaluation and risk decision-making.

This study seeks to show that a higher usage of debt instruments by consumers with limited available funds leads to the usage of savings tools to finance debt costs, which subsequently results in lower levels of savings. This was espoused by the literature on PFM and also proven by the test results from the research hypotheses that were computed by means of a logistic regression. The test results showed that there is a statistically significant relationship between the usage of debt instruments and the usage of savings tools. An emphasis is placed on the importance of savings as an integral component of the PFM concept: it is namely seen to be indispensable to good financial planning to ensure current and future consumer financial security. Therefore, this study concludes by highlighting the importance of consumers’ financial- management skills in minimising debt costs to increase levels of savings by controlling higher consumption expenditure through debt.
Business Management
M. Com. (Business management)

Gauteng, one of the nine provinces of South Africa, has a high number of households as compared to the other provinces. Geographically the province has the smallest land size, however it forms the central part of the South African economy. From the total value of credit granted in all provinces, Gauteng has the highest. The province has a high number of registered debt counsellors and an increasing number of consumers who apply for debt counselling because of over-indebtedness. The high number of the registered debt counsellors and consumers seeking debt counselling service gave rise to the purpose of the study. The purpose of the study was to assess the role of debt counselling services provided by debt counsellors to consumers on the one hand, and to also assess whether debt counselling has had a positive effect on the personal financial well-being of consumers who participated in the debt counselling process on the other hand. Furthermore, the study aimed at developing a framework that will empower consumers to be self-sufficient with their finances. From the purpose of the study, two research questions were proposed: (1) How does the debt counselling service provided by debt counsellors assist consumers to manage their finances effectively? (2) Which role does the debt counselling service provided by debt counsellors play in terms of the personal financial well-being of consumers? In an attempt to answer research questions, the theoretical framework of both personal finance and debt counselling were studied. The importance of personal finance, personal financial planning, the evolution of debt counselling, the effectiveness and the ineffectiveness of debt counselling services were identified. A two-phased sequential design (qualitative and quantitative) was used. Fifteen debt counsellors were selected (for the first phase of the study) by making use of a purposeful sampling. These debt counsellors were interviewed and further requested to identify and send questionnaires to consumers whom they have rendered debt counselling service between the years 2007 and 2013. In the second phase of the study, 300 over-indebted consumers were surveyed through a snowball non-probability sampling technique and a response rate of 61% was realised. Data was analysed using ATLAS.ti and the Statistical Package for Social Science (SPSS) for the first and the second data collected respectively. Furthermore, the exploratory factor analysis was used to analyse the data, and the factorability of the data was assessed by means of two statistical measures, namely Bartlett’s test of sphericity and Kaizer Meyer-Olkin. It was observed that most debt counsellors lack financial management knowledge and do not have mechanisms to verify their clients’ financial well-being after debt counselling service had been completed. In addition, there was no evidence that consumers who received debt counselling improved in their financial well-being and that consumers also lacked personal financial management skills. The study concluded that, although debt counselling is essential, it does not necessarily assist consumers to effectively manage their finances. The study purports to suggest the following: Debt counsellors should be subjected to formal financial management training prior to their registration, debt counsellors should provide personal financial management education to their clients, and assess the financial management conduct of their clients once debt counselling process is complete, and debt counsellors should establish debt counsellors’ forums. The South African government (in conjunction with the Department of Education and Training) should introduce and implement personal financial management education in both primary and high schools’ curricula. Personal financial management should continue to be offered at adult learning centres as well as other institutions of higher learning. Employers should appoint employee wellness officers who will provide personal finance training to employees. Credit providers should take the responsibility of educating their clients on how to manage their accounts and the importance of paying debts on time. The South African media should also be used by the government and the NCR to educate and inform consumers about finance-related matters. Finally consumers should seek guidance and advice before making financial commitments. The study concluded by suggesting a framework that should help consumers to manage and sustain their financial well-being.
Business Management
DCOM (Business Management)

This study seeks to show that a higher usage of debt instruments by consumers with limited available funds leads to the usage of savings tools to finance debt costs, which subsequently results in lower levels of savings. This was espoused by the literature on PFM and also proven by the test results from the research hypotheses that were computed by means of a logistic regression. The test results showed that there is a statistically significant relationship between the usage of debt instruments and the usage of savings tools. An emphasis is placed on the importance of savings as an integral component of the PFM concept: it is namely seen to be indispensable to good financial planning to ensure current and future consumer financial security. Therefore, this study concludes by highlighting the importance of consumers’ financial- management skills in minimising debt costs to increase levels of savings by controlling higher consumption expenditure through debt.
Business Management
M. Com. (Business management)

In South Africa household debt has increased rapidly over the past few years, therefore illustrating the importance of analysing liability usage behaviour of individual members within the household. In order to comprehend the behaviour of South Africans regarding liability usages, this study provides insight into why individuals find it necessary to obtain liability products as well as to indicate whether liability products are used to address the financial needs for the purpose it was developed for. To achieve the aim of this study, it was firstly necessary to develop a theoretical framework for the process of selecting credit products when satisfying financial needs. Secondly, the characteristics and intended usage purposes of different credit products available in South Africa were discussed and a debt classification framework was developed. Finally, data obtained from the Finscope South Africa survey was analysed according to the developed frameworks following a combination of two approaches. Firstly, a qualitative approach was used to identify the different financial needs which are satisfied when using liabilities. The financial needs identified were classified according to Alderfer’s existence relatedness growth (ERG) theory and the factors that have an influence on liability usage. Secondly, a quantitative approach was followed to indicate which financial needs are fulfilled when using different credit products. The results of this study suggest that individuals do not use liabilities only for the purpose what the products were originally developed for. The findings clearly indicated that individuals mainly use liabilities to satisfy basic needs which are classified as existence needs according to Alderfer’s ERG theory. Based on the data analysis a variety of factors such as access to credit and certain demographic characteristics have an influence on liability usage behaviour of individuals. The results further show that individuals mainly use informal, unsecured, short-term loans when satisfying their financial needs which might indicate that South Africans are unable to access formal credit products.
Financial Accounting
M. Phil. (Accounting Science)

碩士
國立中山大學
企業管理學系研究所
88
英文提要： A utility function model of individual credit card holder based on their spending behavior is constructed in this research. An accumulation of the individual utility of three different risk attitudes of cardholders may be useful for promoting the profits of credit card business for banks. Due to the privacy of cardholders and the lack of real data, a questionnaire sampling is used to collect data for this study. A result of this experimental study indicates that credit card holders with a different sex, age, level of education, asset condition, seniority, and occupation have different risk tendency. Based on 249 effective samples in this research, credit card holders who belong to females, teenagers, relatively low educated, without real estate, middle seniority, and relatively volatile occupation are more risk seeking. Relatively risk seeking credit card holders have the tendency to make use of their revolving credit and to borrow cash or to buy financial products with their credit cards. For those with three different risk attitudes, their default of credit card loans are not significantly different. The finding indicates relatively risk seeking cardholders may contribute more profits to the credit card business for banks. A risk attitude classification model built by artificial neural network has also been developed. The model may assist banks' administrators using their applicants' demographics to distinguish their risk attitude for approving an appropriate credit limit for a cardholder's expenditure to promote the total credit card profit for banks.

Este estudo pretende discutir uma forma de avaliação de uma carteira de crédito ao consumo de uma Instituição Bancária usando uma metodologia que usa como base "The Loan ArbitrageFree Valuation" (Dermine, 1996) de Pricing ajustado ao Risco de Crédito. Nesse sentido, serão apresentadas as várias etapas de cálculo das componentes inerentes ao modelo com especial ênfase nos indicadores de Risco de Crédito. O Pricing é uma variável da estratégia que combina uma vertente Risco e uma vertente Financeira e que permite determinar o valor de cada contrato de crédito de uma carteira. O trabalho apresentado inicia-se com a caracterização do portfólio, de seguida apresentam-se metodologias e os cálculos das diferentes componentes do modelo. Por fim, discutem-se os resultados e as conclusões sobre este estudo. Por questões de confidencialidade, não se identifica a Instituição Bancária sobre a qual se realizou este estudo.
In this study we discuss the value of a portfolio of consumer credit loans based on the methodology of credit risk adjusted pricing proposed in "The Loan Arbitrage-Free Valuation” (Dermine, 1996). For that purpose, we present the different stages of the calculations of the model components with a special highlight on credit risk indicators. Pricing is a strategic variable which combines risk with other financial concepts and allows for the determination of the value of each credit contract included in a portfolio. The study begins with the portfolio characterization, followed by the presentation of the methodology and the calculations of the different model’s components. Finally, the main results and conclusions are discussed. Due to confidentiality reasons the name of the financial institution which provided the data is not disclosed.