No abstract

As soon as they are admitted to a university, most students become responsible for their own finances, but because of a lack of parental supervision, they are more inclined to spend than to manage their money. A study of first-year undergraduate accounting students was conducted to examine the effects of rational emotive behavior therapy-based coaching (REBT-based coaching) intervention on their financial literacy and money attitudes. Thirty first-year undergraduates studying accounting at Nigerian public universities participated in this two-group randomized trial. About 15 first-year undergraduate accounting students participated in the online REBT-based coaching group, while 15 first-year undergraduate accounting students participated in the face-to-face control group. A repeated measures analysis of variance was performed on the study data at .05 probability level. The study found that the online REBT-based coaching intervention significantly improved the financial literacy and money attitudes of first-year undergraduate accounting students in a similar way to face-to-face REBT-based coaching intervention. The follow-up results for the online REBT-based coaching intervention 1 month later showed a similar trend of increasing students’ financial literacy and money attitude scores similar to what was observed in the face-to-face coaching group. There was no significant difference between students in the online and face-to-face modes regarding satisfaction with REBT-based coaching interventions they received. As a result of the findings, the researchers propose developing coaching approaches that can help students gain insight into their financial actions and knowledge, which will likely improve financial literacy and money attitudes in the future.

As entrepreneurial intentions and ownership of businesses among students continue to rise, it is essential for students to develop the right entrepreneurial attitudes in order to run their businesses successfully. Accounting students' entrepreneurial attitudes are said to be positively related to their desire to become entrepreneurs. This study aimed at examining the dataset from our study which focused on the effect of online rational emotive behavior coaching (online REBC) delivered via Telegram application on entrepreneurial attitudes among Nigerian undergraduate accounting students. We studied a sample of 133 undergraduate accounting students divided into two research groups (online REBC group, n = 67; waiting-list control group, n = 66). Data collection was accomplished by using an entrepreneurial attitudes scale developed for students. Posttest data from the online REBC group showed significant improvement in entrepreneurial attitudes (i.e., achievement, innovation, personal control, and self-esteem) of students compared to a waiting-list control group. Follow-up data also showed sustained effects of the online REBC group on entrepreneurial attitudes of the students when compared to a waiting-list control group. Participants reported being satisfied with this online REBC intervention.

There is no doubt that a negative perception of financial risk and a lack of credit risk management adversely impact business growth and business owners’ wellbeing. Past studies suggest that most Nigerian traders have poor risk perceptions and manage risk poorly. A business coaching program within rational-emotive behavior therapy framework (REBT-based business coaching) was evaluated in order to determine its effects on financial risk perception and credit risk management among Nigerian traders. This study used an open-label parallel randomized control design. This 8-weeks coaching program had 60 traders in the REBT-based business coaching group and 59 traders in the control group. The mixed-model repeated measures ANOVA was utilized for analysis of the study data. Results show that relative to a control group, traders’ financial risk perception [F(1.09,127.15) = 637.29, p < 0.001, ω2 = 0.69] and credit risk management [F(1.55,181.22) = 795.51, p < 0.001, ω2 = 0.80] significantly improved after participating in REBT-based business coaching program. This study shows that REBT-based business coaching program is integral to increasing financial risk perception and credit risk management among Nigerian traders. This study contributes to the advancement of business coaching program within the rational-emotive behavior therapy framework for market traders, and its application in similar situations. The study considered the benefits of business coaching program for market traders from a developing country, which is a rarely studied group. It is highly recommended that professionals study the relationship between REBT-based business coaching and economic decision-making within various organizational contexts.