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Reducing the distance: financial services education in web-extended learning environments

Author

Listed:
  • Tamara Rabinovich

    (Bentley University)

  • Pierre Berthon

    (Bentley University)

  • Ivan Fedorenko

    (Bentley University)

Abstract

It is estimated that financial services comprise around 15% of the global economy. From the supply side, one key to meeting this demand is being able to educate and certify the people who provide these services. With the advent of the internet and related technologies, the ability to deliver financial services education synchronously to both online and on-campus attendees has become a viable alternative to pure face-to-face or pure online asynchronous education. Nonetheless, one question remains: can virtual technology deliver comparable quality of financial services educational experience as face-to-face teaching? It is this question our paper addresses using the theory of transactional distance. The theory of transactional distance postulates that for optimal learning, the cognitive gap between instructor(s) and learner(s) needs to be minimized. We explore how transactional distance in financial services education varies by attendance modality (in-class, online and mixed) in a synchronous, web-extended classroom. The implications for managers and researchers are explored.

Suggested Citation

  • Tamara Rabinovich & Pierre Berthon & Ivan Fedorenko, 2017. "Reducing the distance: financial services education in web-extended learning environments," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 22(3), pages 126-131, September.
    • Handle: RePEc:pal:jofsma:v:22:y:2017:i:3:d:10.1057_s41264-017-0030-9
    DOI: 10.1057/s41264-017-0030-9
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    References listed on IDEAS

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    1. Ben D. MacArthur & Richard O. C. Oreffo, 2005. "Bridging the gap," Nature, Nature, vol. 433(7021), pages 19-19, January.
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    Cited by:

    1. Hooman Estelami & Nicole N. Estelami, 2024. "The differential impact of cognitive style on the relationship between financial education and financial literacy," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 242-256, June.

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