Papers by Kamilė Taujanskaitė
Journal of Business Economics and Management, Dec 28, 2023
This study aims to develop an original financial intelligence quotient (FIQ) measurement conceptu... more This study aims to develop an original financial intelligence quotient (FIQ) measurement conceptual model, including guidelines for adequately handling personal finances in four developed areas to serve as benchmarks of financial intelligence. Four hypotheses were raised, one of them consists of four parts. Methods used: a questionnaire to determine how well a person's financial decisions comply with financial behaviour guidelines, Cronbach's Alpha coefficient to determine the internal consistency of the scales used in the questionnaire, Spearman correlation coefficient to determine the linear dependence between the variables, a linear regression model was developed to substantiate the hypothesis, the MannWhitney-Wilcoxon rank-sum criterion, the Kolmogorov-Smirnov test to choose the data distribution according to the normal distribution, descriptive statistics, the Kruskal-Wallis test to support the hypothesis. The results show that an individual's FIQ influences financial decision-making in essential areas of personal finance management and varies due to education but is not dependent on gender and age. Research limitations: The study focuses only on FI and its impact on the economic well-being of Lithuanian students; the study uses oneyear data; data sets for different age groups were not the same size; and the data was not distributed in groups according to the normal distribution.
European Scientific Journal, ESJ, Apr 30, 2019
New technologies is constantly becoming more and more important for our dynamically changing soci... more New technologies is constantly becoming more and more important for our dynamically changing society, and it occupy greater importance of nowadays' financial sector. This paper focuses on the investigation of the Blockchain and its impact on traditional banking in a qualitative way. The theoretical part of the research presents general overview, brief technical operating principles, main risks, and opportunities of the decentralized networking. The second part examines key properties, main limitations, pros and cons of the Blockchain as well as wider applicability in the financial sector based on experts' evaluation. The results of the expert evaluation provides core records about bank weaknesses and key aspects of the Blockchain influence for financial sector in conformity with 32 professionals. Findings of the research are very relevant while technologies are emerging enormously. Bank collaboration (and not the competition) with fintech is indispensable since both have strengths and weaknesses. However, new technologies, especially peer-to-peer computing, continually gains attention (positive or negative) from the researchers, media, and public. Methods used in the research are: scientific literature analysis, statistical data analysis, comparative analysis, and expert evaluation.
European Scientific Journal, ESJ, Jan 29, 2016
The aim of this article is to analyze the interrelationship between solvencies of consumer credit... more The aim of this article is to analyze the interrelationship between solvencies of consumer credits customers and indirect factors such as borrowing motivation as well as demographical and socioeconomic factors characterizing the borrowers' personality. The results of this research were obtained using statistical software SPSS. Systemic scientific literature analysis, correlation analysis of randomly selected records from consumer credit contracts, Student t-test criteria application for testing hypothesis, analysis of Levine's and Pearson's correlation criteria are used in the article. In addition, previously carried out expert evaluation research results were compared with actual consumer credit contracts data. The novelty of this research is classification of factors influencing personal solvency into direct and indirect. The influence of indirect factors (demographic, socioeconomic and borrowing motives) has been investigated in risky consumer credit market of Lithuania. The results show that the most influencing indirect factor is the purpose of consumer credit.
Economies
The paper analyses development and drivers of accelerated growth of peer-to-peer (P2P) lending in... more The paper analyses development and drivers of accelerated growth of peer-to-peer (P2P) lending in Lithuania and its impact on the consumer credit market with a focus on related sustainability issues. Legislative discrepancies between the P2P and banking segments are analysed and their role in predetermining the different development trends within the segments is highlighted. The research is composed of several steps, where each step analyses a certain problem with the aim to compare the processes in both segments, and is using two different approaches based on macroeconomic data and legislative environment analysis. The applied setup of the research allows for distinguishing and quantitative evaluation of the impact on the segments caused by various internal and external factors, such as macroeconomics, technological advantages of P2P platforms, and discrepancies within business regulation. The obtained results could fill in the scientific literature gaps by providing quantitative e...
Households finance, scientific point of view, is no less interesting for the company's financ... more Households finance, scientific point of view, is no less interesting for the company's finances, and attract very much attention of scientists. In addition to academics, personal finance and various institutions interested in carrying out surveys in relation to households. However, studies conducted mainly states the current situation, but the plot of household financial behavior features of recent financial crisis. Therefore, this article aims - to investigate Lithuanian household financial behavior changes in the economic recession. The object of research - personal finances in the context of the household. Research methods: primary and secondary data analysis, theoretical materials and summary of the systematic methods of graphic representation of data in computer programs, aid comparative analysis of the questionnaire, descriptive statistics. The first paragraph summarizes the analysis of household statistics. Examine how changes in a time of crisis household income, as this...
Journal Business, Management and Economics Engineering
Purpose – the research aims to find out the main factors that determine the change in the number ... more Purpose – the research aims to find out the main factors that determine the change in the number of FinTech companies in Lithuania and predict the future development of this sector. Research object: FinTech business sector, described as the number of FinTech companies. Research methodology – scientific literature analysis and generalisation, comparative analysis, statistical data collection and systematisation, correlation-regression analysis, scenario method for forecasting. Findings – the main factors that may determine the growth of the number of FinTech companies in Lithuania were identified and several development scenarios of the segment forecasted. The first part analyses related scientific investigations and FinTech's impact on the financial system as a whole. In the empirical part, a correlation and regression analysis of the factors that may determine the change of a number of FinTech companies was performed and ten main factors identified. The possible evolution of th...
Journal Business, Management and Economics Engineering
Purpose – to analyse the main borrowing alternatives available to Lithuanian households and the c... more Purpose – to analyse the main borrowing alternatives available to Lithuanian households and the credit market as a whole, focusing on its peer-to-peer (P2P) segment, the forecast of its growth, and possible challenges. Research methodology – the research methods applied were scientific literature analysis, statistical data analysis, comparative analysis, correlation-regression analysis, linear trend forecasting method. Findings – the prevailing borrowing alternative for Lithuanian households still remain bank credits. Besides, borrowing from P2P market is becoming more and more popular. Although the macroeconomic environment for all the credit market segments is the same, the P2P segment is developing significantly faster. If this trend remains unchanged, the whole credit market is likely to face challenges, such as the growth of overdue loans, insolvent customers, the rising share of non-performing-loans (NPL), etc., that may affect its overall stability. Research limitations – the...
The aim of the paper is to provide the financial decision making mechanisms used by households fo... more The aim of the paper is to provide the financial decision making mechanisms used by households for management their expenditure with the mathematical proof enabling quantitative evaluation of purchase alternatives through vector decomposition of the aggregate value of goods and/or services. The match between the properties of goods purchased and the specific consumers’ needs represented by the vector of his preferences is expressed by comparing spatial orientation of the two vectors in “n” dimensional space, where “n” is a number of non-substitute value components important for the consumer. A method for calculation of spatial angle between the vectors is presented for the 3-dimentional space. DOI: http://dx.doi.org/10.4995/ICBM.2015.1611
12th International Scientific Conference “Business and Management 2022”
As money laundering is a highly threatening and dangerous activity, its damage is only discussed ... more As money laundering is a highly threatening and dangerous activity, its damage is only discussed when the consequences of these illegal activities become public, thus such kinds of investigations are particularly relevant. By fol-lowing public anti-money laundering (AML) directives and internal financial legislation of specific countries, it is pos-sible to improve any money laundering situation, anticipate potential risks and avoid various financial downturns. This paper examines the evolution of money laundering, the motives behind them, the potential economic consequences and highlights the need to suppress these activities to promote higher standards of AML, which could have a posi-tive impact on the countries’ economies. In the empirical part, according to the main macroeconomic indicators, 10 Northern European countries are analysed and the effectiveness of anti-money laundering processes, are identified. The analysis is made using several research steps, obtained results are ...
Proceedings of 6th International Scientific Conference Contemporary Issues in Business, Management and Economics Engineering ‘2019, May 9, 2019
Purpose-the purpose of this study is to analyse the cryptocurrency market and to forecast househo... more Purpose-the purpose of this study is to analyse the cryptocurrency market and to forecast household investments in it from a theoretical and practical point of view. Research methodology-in order to achieve the aim of the article, scientific literature and statistical data analysis, comparative analysis and SWOT analysis were done. Also, ARIMA forecasting model was adapted to forecast Household investment in cryptocurrencies. Findings-the first part of the study presents the theoretical aspects of cryptocurrencies. An overview of the cryptocurrencies and their market is provided, focusing on the concept of Bitcoins, its' mining and technical principles of operation. The second part of this study is intended to analyse the cryptocurrencies market and its dynamics. In the last part of the research tendencies of household investments in cryptocurrencies are examined for the period of 2016-2019 according to the data from cryptocurrency exchange. Also, household investments in cryptocurrencies are analysed and major future investment trends and seasonality are identified as well. Household future investment in cryptocurrencies is also predicted. Research limitations-data used in the research only includes currency exchange information, that may be inaccurate when concluding the main trends of the market. Practical implications-the practical results of the study may be useful for households interested in investing, especially in risky investment alternatives. Results of the research justify the dynamics of the currency market and the fluctuation of cryptocurrencies' prices that shows that investment in cryptocurrencies is very variable, unstable and risky. Originality/Value-cryptocurrencies market is particularly dynamic and fast-changing, so the newest scientific investigations are urgent. In this research, an attempt was made to forecast household investment in main cryptocurrencies.
Proceedings of the 20th Conference for Junior Researchers „Business in XXI Century“, Feb 9, 2017
Santrauka. Straipsnyje nagrinėjami įvairių autorių požiūriai charakterizuojant investicijas ir jų... more Santrauka. Straipsnyje nagrinėjami įvairių autorių požiūriai charakterizuojant investicijas ir jų sampratą. Analizuojami svarbiausi asmeninių finansų aspektai, didžiausią dėmesį skiriant asmeninių investicijų ir taupymo sritims. Siekiama atskleisti investavimo galimybes, apibūdinant investicinių priemonių teorinius ypatumus bei išskiriant jų privalumus ir trūkumus. Remiantis investicijų grąžos rodikliais ir namų ūkių finansinės elgsenos apžvalga, įvertinamas taupymo ir investavimo aktyvumas bei tendencijos Lietuvos finansų rinkoje. Apibendrinant teorinius ir praktinius duomenų rezultatus, pateikiamos išvados. Atlikta analizė parodė, kad Lietuvos namų ūkių finansinė elgsena pasižymi konservatyvumudidžioji dauguma laisvas lėšas taupo grynųjų pinigų pavidalu arba sąskaitose finansinėse įstaigose, o kitų alternatyvų, tokių kaip investavimas, pasirinkimo aktyvumas yra mažas. Reikšminiai žodžiai: asmeniniai finansai, investavimas, asmeninės investicijos, taupymas, investicinės priemonės, investicijų grąža, namų ūkių finansinė elgsena.
Proceedings of 6th International Scientific Conference Contemporary Issues in Business, Management and Economics Engineering ‘2019, May 9, 2019
Purpose-to investigate the possible influence of bitcoins and the Blockchain on exchange rates of... more Purpose-to investigate the possible influence of bitcoins and the Blockchain on exchange rates of selected fiat currencies by using quantitative analysis methods. Research methodology-the importance, risks/opportunities are examined by studying scientific literature regarding cryptocurrencies and decentralization. The influence of bitcoins itself is examined by using regression analysis, ANOVA, descriptive statistics, correlation matrix, and VIF. Findings-impart negative relation between Bitcoin money supply and exchange rates (USD/EUR) and a positive relation between Bitcoin inflation rate and exchange rates (USD/EUR). However, the actual influence is too negligible to make any significant affection for the conventional financial sector yet digitalization and decentralization are imminent. Research limitations-only a few analyses have been conducted in a quantitative manner regarding cryptocurrencies impact. The influence of cryptocurrencies increased from 2011; phenomenon lacks long time data and examples to conduct an analysis model that applies to all assumptions without exceptions. Practical implications-enterprises can embrace decentralization and digital money to keep up with the fast-growing market changes, improve transparency, and reduce costs. Close relation with fintech is indispensable; it promotes economic growth and accelerates the development of advanced operating practices. Originality/Value-the interest in digital money and peer-to-peer payments constantly occupy greater importance of financial market and trading manner. Their influence is widely discussed but lacks quantitative researches based on actual historical data.
Straipsnyje analizuojamos namų ūkių skolinimosi galimybės vartojimo kreditų rinkoje. Analizės met... more Straipsnyje analizuojamos namų ūkių skolinimosi galimybės vartojimo kreditų rinkoje. Analizės metu lyginama tarpusavio skolinimo platformų ir komercinių bankų siūlomos skolinimosi alternatyvos Lietuvoje ir užsienyje. Analizėje akcentuojama vartojimo kredito kaina ir finansinės įstaigos patikimumas. Isanalizavus moksline literatūrą, aptariami komercinių bankų ir tarpusavio skolinimo platformų teoriniai aspektai – atsiradimas, veikla, funkcijos, skolinimosi procesai ir pan. Tolesnėse straipsnio dalyse analizuojamos vartojimo paskolos, įvertinant Lietuvos ir užsienio vartojamųjų kreditų davėjus. Pasitelkiant daugiakriterinį vertinimą, įvertinamas Lietuvoje ir Didžiojoje Britanijoje veikiancių komercinių bankų patikimumas. Pabaigoje pateikiamos isvados nurodant finansiskai naudingiausias alternatyvas namų ūkiams, is kur skolintis pinigus, kokie yra pagrindiniai skolinimosi alternatyvų skirtumai, ir kuris komercinis bankas yra patikimiausias.
Engineering Economics, 2016
Non-performing loan (NPL) problems remain urgent, or even threatening in some countries, despite ... more Non-performing loan (NPL) problems remain urgent, or even threatening in some countries, despite relatively long-lasting macroeconomic recovery since the 2008-2010 crisis. NPL handling tools and methods currently used by the banks are not efficient enough to significantly reduce the NPL ratio and keep it within safe and sustainable limits. This paper analyses the current state and causes of NPLs in retail banking and the ways of improving their handling efficiency. An idea that retail banks should not only focus on administrative handling methods, but also actively promote financial awareness and especially rational consumer behaviour of clients as measures preventing the NPL, is presented. The idea is based on a synthesis of research results performed within three segments, which shape the background of the problem: first, the current NPL situation in retail banking, theoretical framework and methods of their control, second, the budgetary and borrower performance of households and contemporary trends within consumer behaviour and, third, the NPL determinants, evaluation and comparison of their impact. Recommendations for retail banks to invest into preventive NPL reducing measures and run them parallel to the currently used "follow-up" type NPL handling tools are developed. The recommendations are supported by simulation of payback potential of investment by using specially developed algorithm. Research methods used: comparative analysis, processing of statistical data, expert evaluation, mathematical analysis.
1st INTERNATIONAL CONFERENCE ON BUSINESS MANAGEMENT - “NEW CHALLENGES IN BUSINESS RESEARCH" - Conference proceedings, 2015
Engineering Economics, 2015
Purpose of the article. To analyze theoretical background of expenditure management process in ho... more Purpose of the article. To analyze theoretical background of expenditure management process in households with the aim to identify reasons compromising the management efficiency and the ways of their handling. Methodology/methods. Comparative analysis of scientific literature, statistical data analysis, cross-disciplinary approach integrating psychology and economics, Maslow's hierarchy of needs theory, vector algebra, case-study based testing. Scientific aim. To justify theoretically a new approach to household expenditure management containing formal prepurchase procedures used to match the value of goods/services purchased with the specific consumer's preferences by applying value decomposition technique. Findings. Decomposed value components better than aggregate value reflect the ability of good/service to satisfy various complex needs of the consumer, both basic (physiological) and those purely psychological from higher stages of the Maslow pyramid of needs, e.g. esteem and self-actualization. Decomposition gives the possibility to quantitatively evaluate and compare them. Results of case-studies carried out have proved validity of the approach and its potential in being applied as a planning tool in managing household's expenditure. Conclusions. Decryption of aggregate value of goods and services by decomposing it into components reflecting the hierarchy of consumer's needs creates a platform for development alternative approach to expenditure management in households, less dependent on influence of various subjective, intuition based factors. This approach should yield to reduction of spontaneous spending, give the possibility to harmonize not only total/aggregate consumption with the income, but also to find a balance between items in the bunch of products/services purchased, thus preventing an unbalanced (excessive or insufficient) allocation of funds.
Journal of Business Economics and Management
Various non-economic factors, like social, cultural, psychologic and others strongly affect the d... more Various non-economic factors, like social, cultural, psychologic and others strongly affect the decision-making related to the management of personal consumption expenditure (PCE) in households and often compromise its efficiency. PCE management tools and methods currently used by households are not helpful either as rational distribution of funds among the purchases is usually out of their scope. Therefore, rational use of resources still remains a challenging task for many households. The goal of this study is to analyse the PCE management process in households and the obstacles preventing its efficiency. Methods used in the article comprise: comparative and critical analysis methods; vector analysis tools. The paper identifies shortcomings of currently used PCE management methods and tools and introduces a system of quantitative criteria enabling objective evaluation of consumption alternatives. The use of quantitative criteria limits the influence of subjective, non-economic factors on consumption-related resource management in households and can positively affect its efficiency. The criteria are justified theoretically and the benefits from their use demonstrated with some practical evidence.
The 7th International Scientific Conference "Business and Management 2012". Selected papers, 2012
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Papers by Kamilė Taujanskaitė