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PERCEPTIONS OF STAKEHOLDERS REGARDING ECONOMIC (FINANCIAL) ADJUSTMENT OF STUDENTS IN SOCIETY
Corresponding Author(s) : Matiullah
Humanities & Social Sciences Reviews,
Vol. 9 No. 3 (2021): May
Abstract
Purpose of the Study: The key purpose of the study was to know the perceptions of stakeholders (Principals, Teachers, Students, and Parents) regarding economic (financial) adjustment of Public, Private Schools, and Deeni Madaris students in society.
Methodology: The study was a survey (cross-sectional) in nature. The population of the study consisted of (N = 405957) respondents including Principals, teachers, students, and parents in which (n =1500) respondents were taken as samples of the study by applying L.R. Gay, (2003) Sample Size rule of thumb through multistage sampling techniques. In the study, Public, Private schools and Deeni Madaris students were compared regarding their economic (financial) adjustment in society. Data were taken through a self-developed questionnaire of the 6-Points Likert scale. The Study delimited to six Southern districts of KP. Results, Discussion, and Conclusions were drawn in the study.
Main Findings: The key findings of the study revealed in results were that the perceptions of stakeholders (Principals, teachers, students, and parents) were found more inclined towards Deeni Madaris students regarding their economic (financial) adjustment of students in society as compared to Public and Private school students.
Applications of this study: The study may be quite useful and significant for school heads, teachers, parents, students, government, education department, policymakers, and public as well if the students of Public, Private schools and Deeni Madaris were encouraged towards economic (financial) activities in developing country like Pakistan for their better earning purposes e.g. students practicing their economic (financial) practices in advanced countries like China, USA, United Kingdom and so on.
Novelty/Originality of this study: This study may be a new approach in Pakistan to encourage students towards economic (financial) responsibilities to earn and make money in order to facilitate their families (parents), and even the government of the time to reduce poverty in Pakistan in this regard like students earning and strengthening their financial positions (income/economy) in China, France, US, UK, etc.
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- Anjum, U. (2017). Assessing the need for modern education in Madrassah System: A case study of Madaris in Lahore. Arts Social Sci J, 8(4), 1-8. https://doi.org/10.4172/2151-6200.1000286 DOI: https://doi.org/10.4172/2151-6200.1000286
- Aydin, A.E. & Akben S.E. (2019). An investigation of financial literacy, money ethics and time preferences among college students: A structural equation model. International Journal of Bank Marketing, 37(3), 880-900. https://doi.org/10.1108/IJBM-05-2018-0120 DOI: https://doi.org/10.1108/IJBM-05-2018-0120
- Bjørnskov, C. (2017). Political Science, Political Behavior, & Political Economy. The Oxford Handbook of Social and Political Trust, Oxford University Press. https://doi.org/10.1093/oxfordhb/9780190274801.013.24 DOI: https://doi.org/10.1093/oxfordhb/9780190274801.013.24
- Carsten, E., Michael, G.M., & Michael, O. (2016). Financial literacy of high school students: Evidence from Germany. 95-105. https://doi.org/10.1080/00220485.2016.1146102 DOI: https://doi.org/10.1080/00220485.2016.1146102
- Cattaneo, M.A., Oggenfuss, C., & Wolter, S.C. (2017). The more, the better? The impact of instructional time on student performance. Education Economics, 25(5), 433-445. https://doi.org/10.1080/09645292.2017.1315055 DOI: https://doi.org/10.1080/09645292.2017.1315055
- Elena T., Bogdan N.F., Angela, R., and Sorin, G.A. (2018). Impact of information and communication technology infrastructure on economic growth: An empirical assessment for the EU Countries. Sustainability, 1, 22. https://doi.org/10.3390/su10103750 DOI: https://doi.org/10.3390/su10103750
- Elmarie, P., & Chris W.C. (2020). Accountancy learning skills and student performance in accounting education: evidence from the South African context. Accounting Education, 205-228. https://doi.org/10.1080/09639284.2020.1719426 DOI: https://doi.org/10.1080/09639284.2020.1719426
- Eva, O., Arceo-Gómeza, F., Alejandro, V. (2017). Financial literacy among Mexican high school teenagers. International Review of Economics Education, 24, 1-17. https://doi.org/10.1016/j.iree.2016.10.001 DOI: https://doi.org/10.1016/j.iree.2016.10.001
- Getu, B.A., Asmara, B.Y., Yihunbelay, D.B., & Wondale, G.A. (2018). Prevalence of adjustment problem and its predictors among first-year undergraduate students in Ethiopian University: A cross-sectional institution based study. Psychiatry Journal, 2018, 7. https://doi.org/10.1155/2018/5919743 DOI: https://doi.org/10.1155/2018/5919743
- Gromada, A., & Shewbridge, C. (2016). Student learning time: A literature review. OECD Education Working Paper Series, No. 127. Paris: OECD. https://doi.org/10.1787/5jm409kqqkjh-en DOI: https://doi.org/10.1787/5jm409kqqkjh-en
- Heppen, J.B., Sorensen, N., Allensworth, E., Walters, K., Rickles, J., Stachel T.S., & Michelman, V. (2017). The struggle to pass algebra: Online vs. face-to-face credit recovery for at-risk urban students, Journal of Research on Educational Effectiveness, 10(2), 272–296, https://doi.org/10.1080/19345747.2016.1168500 DOI: https://doi.org/10.1080/19345747.2016.1168500
- Huebener, M., Kuger, S., & Marcus, J. (2017). Increased instruction hours and the widening gap in student performance. Labor Economics, 47, 15–34. https://doi.org/10.1016/j.labeco.2017.04.007 DOI: https://doi.org/10.1016/j.labeco.2017.04.007
- Jaume, D., & Willén, A. (2019). The long-run effects of teacher strikes: Evidence from Argentina. Journal of Labor Economics, 37(4), 1097–1139. https://doi.org/10.1086/703134 DOI: https://doi.org/10.1086/703134
- Mora, T., & EscardÃbul, J.O. (2018). Home environment and parental involvement in homework during adolescence in Catalonia (Spain). Youth and Society, 50(2), 183–203. https://doi.org/10.1177 /0044118X15626050 DOI: https://doi.org/10.1177/0044118X15626050
- Nidhi., & Muntazir, M.M.K. (2015). Adjustment Problems of College Students concerning Gender, Socioeconomic Status, and Academic Achievement. International Journal of Current Research, 7(4), 14574-14578.
- Papageorgiou, E., & Callaghan, C. (2020). Academic adjustment and socio-economic legacy effects: evidence from the years of the #Fees Must Fall and # Rhodes Must Fall protests. South African Journal of Higher Education, 34(6), 216-236. https://doi.org/10.20853/34-6-3871 DOI: https://doi.org/10.20853/34-6-3871
- Pradhan, R., Mallik, G., & Bagchi, T. P. (2018). Information communication technology (ICT) infrastructure and economic growth: a causality evinced by cross-country panel data. Iimb Management Review, 30(1), 91-103. https://doi.org/10.1016/j.iimb.2018.01.001 DOI: https://doi.org/10.1016/j.iimb.2018.01.001
- Quinn, D.M., Cooc, N., McIntyre, J., & Gomez, C.J. (2016). Seasonal dynamics of academic achievement inequality by socioeconomic status and race / ethnicity: Updating and extending past research with new national data. Educational Researcher, 45(8), 443–453. https://doi.org/10.3102/0013189X16677965 DOI: https://doi.org/10.3102/0013189X16677965
- Sepehrdoust, H. (2018). Impact of information and communication technology and financial development on the economic growth of OPEC developing economies. Kasetsart J. Soc. Sci, 5(1), 191-203. https://doi.org/10.1016/ j.kjss.2018.01.008 DOI: https://doi.org/10.1016/j.kjss.2018.01.008
- Shirin, N. (2017). Technical and vocational education and training for economic growth in Pakistan. Journal of Education and Educational Development, 4(1), 130-141. https://doi.org/10.22555/joeed.v4i1.1345 DOI: https://doi.org/10.22555/joeed.v4i1.1345
- Tesfaw, D. (2021). Labor-intensive focused industrial policy in Ethiopia: Potentials, latecomer’s advantage and binding constraints. Journal of Economics and International Finance. 13(2), 64-84. https://doi.org/10.5897/ JEIF2021.1112 DOI: https://doi.org/10.5897/JEIF2021.1112
- Tsyganov, A.A., Bryzgalov, D.V. (2016). Market research of the Russian national and regional aspects of builders’ liability insurance. Economy of Region. 2, 526-536. https://doi.org/10.17059/2016-2-17 DOI: https://doi.org/10.17059/2016-2-17
- Uche, C.C., Nwogwugwu, A.G.M., & Okezie, A. I. (2021). Do disaggregated manufacturing sectors matter in Nigeria’s economic growth: VECM Approach? 13(2), 85-99. https://doi.org/10.5897/JEIF2021.1120 DOI: https://doi.org/10.5897/JEIF2021.1120
- Van Lancker, W., & Parolin, Z. (2020). COVID-19, school closures, and child poverty: A social crisis in the making. The Lancet Public Health, 5(5), 243-244. https://doi.org/10.1016/S2468-2667(20)30084-0 DOI: https://doi.org/10.1016/S2468-2667(20)30084-0
- Zaidi, A.S.M. (2013). Madrassa Education in Pakistan: Controversies, Challenges & Prospects; Centre for International and Strategic Analysis. SISA: Report No.3, 2013.
References
Anjum, U. (2017). Assessing the need for modern education in Madrassah System: A case study of Madaris in Lahore. Arts Social Sci J, 8(4), 1-8. https://doi.org/10.4172/2151-6200.1000286 DOI: https://doi.org/10.4172/2151-6200.1000286
Aydin, A.E. & Akben S.E. (2019). An investigation of financial literacy, money ethics and time preferences among college students: A structural equation model. International Journal of Bank Marketing, 37(3), 880-900. https://doi.org/10.1108/IJBM-05-2018-0120 DOI: https://doi.org/10.1108/IJBM-05-2018-0120
Bjørnskov, C. (2017). Political Science, Political Behavior, & Political Economy. The Oxford Handbook of Social and Political Trust, Oxford University Press. https://doi.org/10.1093/oxfordhb/9780190274801.013.24 DOI: https://doi.org/10.1093/oxfordhb/9780190274801.013.24
Carsten, E., Michael, G.M., & Michael, O. (2016). Financial literacy of high school students: Evidence from Germany. 95-105. https://doi.org/10.1080/00220485.2016.1146102 DOI: https://doi.org/10.1080/00220485.2016.1146102
Cattaneo, M.A., Oggenfuss, C., & Wolter, S.C. (2017). The more, the better? The impact of instructional time on student performance. Education Economics, 25(5), 433-445. https://doi.org/10.1080/09645292.2017.1315055 DOI: https://doi.org/10.1080/09645292.2017.1315055
Elena T., Bogdan N.F., Angela, R., and Sorin, G.A. (2018). Impact of information and communication technology infrastructure on economic growth: An empirical assessment for the EU Countries. Sustainability, 1, 22. https://doi.org/10.3390/su10103750 DOI: https://doi.org/10.3390/su10103750
Elmarie, P., & Chris W.C. (2020). Accountancy learning skills and student performance in accounting education: evidence from the South African context. Accounting Education, 205-228. https://doi.org/10.1080/09639284.2020.1719426 DOI: https://doi.org/10.1080/09639284.2020.1719426
Eva, O., Arceo-Gómeza, F., Alejandro, V. (2017). Financial literacy among Mexican high school teenagers. International Review of Economics Education, 24, 1-17. https://doi.org/10.1016/j.iree.2016.10.001 DOI: https://doi.org/10.1016/j.iree.2016.10.001
Getu, B.A., Asmara, B.Y., Yihunbelay, D.B., & Wondale, G.A. (2018). Prevalence of adjustment problem and its predictors among first-year undergraduate students in Ethiopian University: A cross-sectional institution based study. Psychiatry Journal, 2018, 7. https://doi.org/10.1155/2018/5919743 DOI: https://doi.org/10.1155/2018/5919743
Gromada, A., & Shewbridge, C. (2016). Student learning time: A literature review. OECD Education Working Paper Series, No. 127. Paris: OECD. https://doi.org/10.1787/5jm409kqqkjh-en DOI: https://doi.org/10.1787/5jm409kqqkjh-en
Heppen, J.B., Sorensen, N., Allensworth, E., Walters, K., Rickles, J., Stachel T.S., & Michelman, V. (2017). The struggle to pass algebra: Online vs. face-to-face credit recovery for at-risk urban students, Journal of Research on Educational Effectiveness, 10(2), 272–296, https://doi.org/10.1080/19345747.2016.1168500 DOI: https://doi.org/10.1080/19345747.2016.1168500
Huebener, M., Kuger, S., & Marcus, J. (2017). Increased instruction hours and the widening gap in student performance. Labor Economics, 47, 15–34. https://doi.org/10.1016/j.labeco.2017.04.007 DOI: https://doi.org/10.1016/j.labeco.2017.04.007
Jaume, D., & Willén, A. (2019). The long-run effects of teacher strikes: Evidence from Argentina. Journal of Labor Economics, 37(4), 1097–1139. https://doi.org/10.1086/703134 DOI: https://doi.org/10.1086/703134
Mora, T., & EscardÃbul, J.O. (2018). Home environment and parental involvement in homework during adolescence in Catalonia (Spain). Youth and Society, 50(2), 183–203. https://doi.org/10.1177 /0044118X15626050 DOI: https://doi.org/10.1177/0044118X15626050
Nidhi., & Muntazir, M.M.K. (2015). Adjustment Problems of College Students concerning Gender, Socioeconomic Status, and Academic Achievement. International Journal of Current Research, 7(4), 14574-14578.
Papageorgiou, E., & Callaghan, C. (2020). Academic adjustment and socio-economic legacy effects: evidence from the years of the #Fees Must Fall and # Rhodes Must Fall protests. South African Journal of Higher Education, 34(6), 216-236. https://doi.org/10.20853/34-6-3871 DOI: https://doi.org/10.20853/34-6-3871
Pradhan, R., Mallik, G., & Bagchi, T. P. (2018). Information communication technology (ICT) infrastructure and economic growth: a causality evinced by cross-country panel data. Iimb Management Review, 30(1), 91-103. https://doi.org/10.1016/j.iimb.2018.01.001 DOI: https://doi.org/10.1016/j.iimb.2018.01.001
Quinn, D.M., Cooc, N., McIntyre, J., & Gomez, C.J. (2016). Seasonal dynamics of academic achievement inequality by socioeconomic status and race / ethnicity: Updating and extending past research with new national data. Educational Researcher, 45(8), 443–453. https://doi.org/10.3102/0013189X16677965 DOI: https://doi.org/10.3102/0013189X16677965
Sepehrdoust, H. (2018). Impact of information and communication technology and financial development on the economic growth of OPEC developing economies. Kasetsart J. Soc. Sci, 5(1), 191-203. https://doi.org/10.1016/ j.kjss.2018.01.008 DOI: https://doi.org/10.1016/j.kjss.2018.01.008
Shirin, N. (2017). Technical and vocational education and training for economic growth in Pakistan. Journal of Education and Educational Development, 4(1), 130-141. https://doi.org/10.22555/joeed.v4i1.1345 DOI: https://doi.org/10.22555/joeed.v4i1.1345
Tesfaw, D. (2021). Labor-intensive focused industrial policy in Ethiopia: Potentials, latecomer’s advantage and binding constraints. Journal of Economics and International Finance. 13(2), 64-84. https://doi.org/10.5897/ JEIF2021.1112 DOI: https://doi.org/10.5897/JEIF2021.1112
Tsyganov, A.A., Bryzgalov, D.V. (2016). Market research of the Russian national and regional aspects of builders’ liability insurance. Economy of Region. 2, 526-536. https://doi.org/10.17059/2016-2-17 DOI: https://doi.org/10.17059/2016-2-17
Uche, C.C., Nwogwugwu, A.G.M., & Okezie, A. I. (2021). Do disaggregated manufacturing sectors matter in Nigeria’s economic growth: VECM Approach? 13(2), 85-99. https://doi.org/10.5897/JEIF2021.1120 DOI: https://doi.org/10.5897/JEIF2021.1120
Van Lancker, W., & Parolin, Z. (2020). COVID-19, school closures, and child poverty: A social crisis in the making. The Lancet Public Health, 5(5), 243-244. https://doi.org/10.1016/S2468-2667(20)30084-0 DOI: https://doi.org/10.1016/S2468-2667(20)30084-0
Zaidi, A.S.M. (2013). Madrassa Education in Pakistan: Controversies, Challenges & Prospects; Centre for International and Strategic Analysis. SISA: Report No.3, 2013.