Title- FAMILY’S FINANCIAL EXPERIENCES RESPONDING TO COVID-19
Authors– Sheetal Nerlekar (104)
Mayuri Jadhav (81)
Smith Patodekar (108)
Introduction–
Corona virus disease 2019 (COVID‐19) has been one of the major pandemics affecting all the world and human beings since the end of 2019.After pandemic still many are in the trauma of their loss of their loved one or other losses like financial. This survey is to get the report of the same.
Objective- To understand the underlying issues faced by Indians after COVID-19.
Literature Review-
- Earnings management in emerging markets: The COVID-19 and family ownership.
Al-Begali, Safia Abdo Ali; Phua, LianKee (2023) says that, This paper investigates the impact of COVID-19 and family ownership on earnings management (EM), both accruals (DA) and real (REM). This research also seeks to determine whether there is a substitutional or complementary relationship between DA and REM. The study’s sample includes firms listed on the Jordanian market after excluding the banking and insurance sectors from 2017 to 2021. It used feasible generalised least squares estimation (FGLS) regressions to achieve the study’s goals. The results reveal a negative and significant correlation between COVID-19 and discretionary accruals (DA), which indicates that COVID-19 restricts DA in Jordanian companies. However, the outcome shows a significant positive relationship between COVID-19 and REM, which indicates that COVID-19 encourages Jordanian companies to practice REM.
According to the entrenchment theory, the majority shareholders in a family-owned business environment seek to expropriate the rights of the minority shareholders. Consistent with this theory, the result documents a significant positive correlation between family ownership and DA, indicating that high family ownership manages earnings through accruals. The current study’s findings are an important contribution to the literature on how family ownership affects the quality of financial reporting (QFR) and how COVID-19 affects the practice of EM. Therefore, the findings of this study can provide all stakeholders with information regarding the QFR in family-controlled companies and explore the accounting implications of the pandemic in order to assist all interested parties, particularly those in developing markets, in making more informed decisions
- Parents’ employment, income, and finances before and during the COVID‐19 pandemic.
GARRISON, S. T. et al (2023) says that, the COVID‐19 pandemic brought grave financial concerns for families in the United States as they attempted to navigate the multifaceted impacts of the pandemic. The present descriptive study examined Florida families’ employment characteristics, credit card debt, savings characteristics, use of savings based on employment and income variables, and patterns of use of the first 2020 economic impact payment during the early stages of the COVID‐19 pandemic. Responses to an online questionnaire were collected from 526 Florida residents, age 18 or older, who were parents of minor children during the time the study was conducted. Findings are indicative of varying financial impacts on families based on gender, marital status, income level, and employment status related to COVID‐19. Implications are presented for employers, educators, researchers, policymakers, and families.
Data Collection-
Based on the above problem following questions were asked to students of KBS based on Likert scale.
100 students were surveyed.
For each question mean, standard deviation, standard error and z were calculated.
Questionnaire-
Que.1- I started investment in share market.
Que.2- I started searching source for income.
Que.3- My family had faced financial crises.
Que.4- I was working as moonlighting for income.
Que.5- I received government assistance.
Data Analysis-
|
Que. 1 |
Que. 2 |
Que. 3 |
Que. 4 |
Que. 5 |
|
|
Mean |
0.11 |
0.82 |
0.09 |
-0.04 |
0.57 |
|
SD |
1.37 |
1.28 |
1.15 |
1.43 |
1.33 |
|
SE |
0.14 |
0.13 |
0.11 |
0.14 |
0.13 |
|
Z |
0.80 |
6.40 |
0.78 |
-0.28 |
4.29 |
|
Result |
Neutral |
Positive |
Neutral |
Neutral |
Positive |
Conclusion-
Question 1:- People were neutral about investment in share market.
Question 2:- People started searching source for income.
Question 3:- People were neutral about financial crises.
Question 4:- People were neutral about working as moonlighting for income.
Question 5:- People received government assistance.
References
AL-BEGALI, S. A. A.; PHUA, L. K. Earnings management in emerging markets: The COVID-19 and family ownership. Cogent Economics & Finance, [s. l.], v. 11, n. 1, p. 1–19, 202. DOI 10.1080/23322039.2023.2220246. Disponívelem: https://research.ebsco.com/linkprocessor/plink?id=f5b7fabc-6432-3b96-ac9f-fabf745d0152. Acessoem: 8 ago. 2023
GARRISON, S. T. et al. Parents’ employment, income, and finances before and during the COVID‐19 pandemic. Journal of Consumer Affairs, [s. l.], v. 56, n. 1, p. 276–291, 2022. DOI 10.1111/joca.12443. Disponívelem: https://research.ebsco.com/linkprocessor/plink?id=ecc5f9c3-5c32-38b5-b73e-450d5ef59aaa. Acessoem: 8 ago. 2023.