This three-wave study aims to explore whether the impact of investment literacy on the financial management behavior is mediated by investment advice use and moderated by the need for cognitive closure. A total number of 272 financially independent adults, under 40 years, completed questionnaires at three different times with 3-month intervals. The results reveal that employees with more investment advice use and characterized by high need for cognitive closure show a higher level of financial management behavior, in relation to both the urgency (seizing) of getting knowledge and the permanence (freezing) of such knowledge. The present study contributes to better understand how and when investment literacy drives well-informed and responsible financial behavior. According to these results, interventions to improve financial behavior should focus on the combination of investment advice use and metacognitive strategies used by individuals to make financial decisions.

Currently, the usefulness of ICT (Information and Communication Technologies) in the teaching-learning process has not been discussed; unlike distance learning, these new tools are used via technologies. The current approach to social development, supported by the exercise of innovation, learning and research, is undeniable. Within this framework, student satisfaction regarding blended e-learning has been studied. However, in distance university models, which are supported by virtual platforms, it is necessary to ask ourselves the following question: are students satisfied when they are not in a face-to-face classroom environment? The objective of this study is to analyse students' perceptions of their satisfaction levels in a virtual learning environment. In this evaluation, the students' generic skills were also considered, as well as their perception of the learning environment. The findings of the analysis seem to reveal that students have a high perception of satisfaction, considering students' perception and learning experience as a proxy of the feeling of satisfaction. Students' perceptions of the virtual learning environment and of their own skill, which also takes on high values, could have some type of effect on their overall satisfaction. A significant finding is that students with a high positive perception of their generic skills are also satisfied with the learning process and with the virtual learning environment. The validity of the three construct designed to measure the latent variables-feelings of satisfaction, acceptance of the virtual learning environment and students' self-perception on their generic skills-ensures their usefulness as variables of measurement.

Learning in the Era of Mobile means an expansion in the range of learning tools, which are much more accessible thanks to the use of mobile devices. The greater possibilities of applying online tools for learning do not eliminate problems related to distance learning, such as personal factors related to attitude and student’s perception in virtual learning environments. It is necessary to consider whether the mere application of online tools in m-learning is enough or whether the context and the way in which online learning tools are applied are what is really important, even more so when the program is directed towards students using a distance learning system. Seen from this point of view, the utility of online tools is a key factor for successful learning. Furthermore, it is known that the personal attitude can affect the student’s perception about different aspects of learning, such as the perceived utility of the tools online. Considering the above arguments, the objective of this research is to measure the perceived utility of online learning tools by university students in a teaching environment accessible by mobile devices. Likewise, as a complementary objective to the measurement of perceived utility, the explanatory variables that could cause some effect on the perceived utility were analyzed. The analysis of explanatory variables is focused on personal attitudes, such as attitude towards accounting or the perceived role of the teacher. The data were collected through a questionnaire. Scoring indicators were applied to quantify the scores of university students for each variable. The analysis showed that mature students in a distance education program in Accounting assign high value to online tools and give a high score to their own attitude towards Accounting and the teacher’s role in virtual learning. Regression analysis indicates that about 34% of the perceived utility of online tools could be explained by their positive attitude towards Accounting and by the role of the teacher in m-learning. The identification of explanatory variables of perceived utility of online tools could improve the design and adaptation of the virtual environment, according to personal needs of college students.

We explore the efficiency in the oil industry employing a sample of around 300 companies operating in Europe over 2010–2019. We construct efficiency scores by means of DEA non-parametric techniques. Average efficiency in the sample is modest, 0.27, and decreasing over time. We examine the association of efficiency with economic and financial variables. Results suggest that size is closely associated to efficiency. Large (in the top 10th percentile of income) and very small firms are more efficient, ceteris paribus, whereas medium size and small firms exhibit lower levels of efficiency. Firms which have strived more to implement sustainable technologies and cut greenhouse emissions are more efficient too. Increases in employee costs and decreases in financial solvency jeopardize efficiency, which displays a positive correlation with economic activity and oil prices. As a robustness test, we have repeated the exercise by means of the Simar-Wilson methodology, which confirms our main results regarding efficiency levels and trends and correlations with other variables. Our findings suggest that an industry consolidation is foreseeable in the future.

One problem for sustainability of systems pensions is how people without specialized financial training could manage their resources and their actual personal intentions towards retirement. Research objective is to analyse the relationship among several factors that affect the behaviour towards retirement, the financial management practices and the financial resources, by carrying out a structural equation model (SEM) that was tested in Spanish workers sample in three phases. The influence of financial literacy, financial retirement objectives, optimism on retirement, tolerance to financial risk, and the commitment to financial planning at time 1, are analysed as explanatory variables of financial management practices at time 2. Financial resources for retirement at time 3 are explained by financial management practices. According to results, the model can predict the 36% of the variance of financial management practices and 53% of the variance of financial resources for retirement. Thus, the model can be used for checking of knowledge of the personal financial behaviour before retirement, what enables a better personal financial planning. It would be possible to apply a model based on self-assessment in order to implement a complementary financial planning that would allow to maintain the welfare during retirement.