Financial Constraint: an effect of COVID -19 in selected …

DR. MARIA D. PASTRANA NATIONAL HIGH SCHOOL

Name of Researcher/s: Rustria, Mark School/ School District: Dr. Maria D.
Lorson C. Pastrana National High School

Grade Level: 12 Track: Academic Strand: Humanities and

Social Sciences
RESEARCH/CAPSTONE PROJECT FINAL REPORT
ABSTRACT

Purpose: The purpose of this study is to determine the effect of coronavirus in the
financial support. Evaluate the rate of people who is unemployed during pandemic.
Identify an effective solution for financial stability of families.

Design/ Methodology/ Approach: This study used both quantitative and qualitative
methods to collect and interpret specific data in order to address the study's problem
statement. As a result, it used a mixed-method design to explain and reflect on hypothesis
testing because it is appropriate in giving data from which definitive conclusions may be
made.

Findings:

Research Limitations/ Implication: This study was focused on the financial constraint
happen to local families during COVID – 19. This was conducted during academic year
2020- 2021.

Originality/ Value: The purpose of this study, which was conducted by the researcher,
is to provide information and raise awareness among learners and their families about the
impact of COVID -19 on the financial stability of local communities.
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DR. MARIA D. PASTRANA NATIONAL HIGH SCHOOL

Keywords: Financial, Constraint, Local Community, Pandemic
Title “ Financial Constraint: an Effect of COVID- 19 on Selected
Families in Mauban, Quezon”
SY : 2020 - 2021
Purpose This study aims to determine the effect of coronavirus in the
financial support. Evaluate the rate of people who is unemployed
during pandemic. Identify an effective solution for financial
stability of families.

Brief Introduction Year 2020, when the coronavirus hits the Philippines it made
feud that scares every individual. It is a dangerous communicative
disease which test the human stamina. The novel coronavirus
pandemic has impacted every aspect of our lives, including our
financial difficulties. Every day, the economy and the financial
crisis are discussed in the press. Unemployment claims are at an
all-time high, and many small business owners are struggling.
During the pandemic, many changes occurred, including the
implementation of new rules and regulations, as well as the
realization that staying at home is one of the best ways to ensure
everyone's safety. As we were challenge economically the financial
status of many individuals are put into test. The researcher decided
to conduct a study on how does selected families on Mauban,
Quezon survived the midst of pandemic.

Research The researcher sough to answer the following questions:

Questions 1. What is the effect of COVID- 19 on selected local families
in terms of financial income?
2. Is there a significant relationship between the income rate
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DR. MARIA D. PASTRANA NATIONAL HIGH SCHOOL

of families and the current health crisis (COVID -19)?
3. What policies did the government put in place to assist
local families financially during COVID-19?

Brief Review of
Related Beliefs about the severity of the spread of COVID-19 and
Literature Studies one’s own likelihood of being infected have implications for
individual behavior and consequently for the trajectory of the virus.
Indeed, epidemiological models of disease control use such beliefs
as predictors (Herrera-Diestra & Meyers, 2019), and these beliefs
are thought to motivate preventative behaviors (Tan et al., 2004;
Williams et al., 2010). However, the factors that contribute to these
beliefs are not fully understood. Many epidemiological models
assume that people’s risk perceptions and preventative behaviors
are determined by disease prevalence or some proxy for it (Bi et
al., 2019; Chen, 2009; Epstein et al., 2008; Fenichel et al., 2011;
Meloni et al., 2011). In contrast, the media highlights the role of
political affiliation as a central factor, a finding supported by recent
academic literature (Allcott et al., 2020; Barrios & Hochberg,
2020; Pennycook et al., 2020). We propose that financial constraint
and economic anxiety associated with COVID-related job losses
and pay cuts is an overlooked, yet important predictor of people’s
risk perceptions, beliefs about disease spread, and preventative
behaviors
Individuals with lower income or SES may be at greater risk
of contracting illnesses such as COVID-19 (Chandrasekhar et al.,
2017; Hadler et al., 2016; Hayes et al., 2018). However, we
propose that the psychological relevance of financial constraint and
economic anxiety extends beyond increased susceptibility of
contracting the disease. Financial fragility has been shown to
 Financial Constraint: an effect of COVID -19 in selected …

DR. MARIA D. PASTRANA NATIONAL HIGH SCHOOL

impact cognition and behavior in a range of ways (e.g., Hamilton et
al., 2019; Mani et al., 2013; Shah et al., 2012). For example,
financial scarcity has been shown to lead to increased impulsivity
and risk-taking (Griskevicius et al., 2013), contribute to over
borrowing (Shah et al., 2012), and to shifts in moral standards
(Sharma et al., 2014). The effects of financial scarcity are also
highly consequential in organizational contexts (Leana & Meuris,
2015; Meuris & Leana, 2018; Meuris & Leana, 2015). Similar to
other stressors outside of the workplace, such as metal health and
family roles (Adler et al., 2006; Rothbard, 2001), financial scarcity
is known to hinder workplace performance (Meuris & Leana,
2018). Based on this past research illustrating the strong link
between financial fragility and a wide range of behaviors,
surprisingly little psychological research is currently examining
this issue in the context of the COVID-19 pandemic. The lack of
scholarship in this area is even more alarming given the tight
coupling of the health and economic crises.

Design and Research Design

Methodology This study employed qualitative research method where the
researcher aims to test theories. The first part of study will
discussed the objective and the statement of the problem of the
study. And after this the researcher will seek for well-constructed
questionnaires (for students, parents, independent individual). And
semi- constructed interviews with key stakeholders (government
bodies, ministries, and industries) in participating organizations.
Hence, this study employs a descriptive research design to
agree on the effects of Coronavirus in the financial Constraint of
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DR. MARIA D. PASTRANA NATIONAL HIGH SCHOOL

people in Mauban, Quezon. Descriptive analysis, according to
Saunders et al. and Miller, depicts an accurate profile of people,
incidents, or circumstances. This design provides researchers with
a profile of identified related aspects of the phenomena of interest
from the perspectives of individuals, organizations, and industries.
Therefore, this research design enabled the researchers to gather
data from respondents about the effects of Coronavirus in the
financial Constraint of people in Mauban, Quezon.

Research Locale
The study was carried out via a Google form, with selected
respondents from Dr. Maria D. Pastrana National High School
sending the survey questionnaire. This was chosen because of the
pandemic, which became the key reason, prompting people to ban
going outdoors and to preserve safety and social distance in order
to avoid Covid – 19 while collecting data.

Population and Sample

The respondents of this study were the selected local families

of learners studying at DMDPNHS. However, due to the
phenomenon that have been happening today, the total population
cannot be able to count. Therefore, the total number of selected
respondents were (25) twenty- five families.

Furthermore, the researcher employed a Purposive and

Convenience sampling approach to pick respondents in Dr. Maria
D. Pastrana National High School, where respondents were chosen
by the researcher and contacted via phone or an online survey
 Financial Constraint: an effect of COVID -19 in selected …

DR. MARIA D. PASTRANA NATIONAL HIGH SCHOOL

questionnaire.

Research Instruments
To determine the Effect of Covid-19 in financial constraint
of resident of Mauban, Quezon, the researcher used an online and
personal survey questionnaire. The survey consisted of ten
questions that were designed to help the researcher assess the study
topic and come up with better conclusions.

Data Gathering Procedure

The data will be gathered through conducting interviews and
by giving the respondent a survey checklist. This checklist is
designed to know the frequency of the families having a financial
constrain due to pandemic. It is also designed for students that is
having a hard time coping up with the new normal learning as this
may include gadgets and load intervals. After answering, the
researcher will collect the checklist from the respondents. Then, the
collected checklist and interviews information will reveal how the
pandemic highly affect the families’ financial stability.

Furthermore, the researcher stressed the importance of

maintaining the confidentiality and anonymity of the respondents
in this study. After the respondents have answered, the researcher
will collect the checklist and interviews from them. The
information gathered from the checklist and interviews will then
demonstrate how the strategic measure can assist local business
owners in executing their operations.
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DR. MARIA D. PASTRANA NATIONAL HIGH SCHOOL

Statistical Treatment

The data were tailed, tabulated, and interpreted using the

following formula.

To determine the percentage of the Demographic Profile of

the respondents, the researcher used the percentage formula.

f
P= 100
n

Where in:

P = Percentage
f = frequency
n = no. of population

To determine the advantages and disadvantages of E –

Commerce to teenager costumer of Dmdpnhs during pandemic, the
researcher used the weighted mean formula.

∑ n1=1(W i f )
Weighted Mean= i

n
∑ =1 f i
1

Wherein:
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DR. MARIA D. PASTRANA NATIONAL HIGH SCHOOL

W i = weight of the response in the ith category (
W i =1, 2 , 3 , 4) ;

f i = frequency or number of the respondents at ith

category.

n
∑ =1 f i = total number/ frequency of respondents
1

WM = Weighted mean response of the respondents.

Findings

Conclusions

Recommendations The following recommendation for research are based on the

study findings:
1. For the future researchers that may conduct a follow
– up research wherein this study can be their basis or
reference.
2. For the local community. This research will benefit
the residents in Mauban, Quezon to become more
aware of COVID-19's effects in financial stability.

References  Barrios, J. M., & Hochberg, Y. V. (2020). Risk perception

through the lens of politics in the time of the covid-19
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DR. MARIA D. PASTRANA NATIONAL HIGH SCHOOL

pandemic. University of Chicago, Becker Friedman
Institute for Economics Working Paper, (2020-32).
 Bi, K., Chen, Y., Zhao, S., Ben-Arieh, D., & Wu, C.-H. J.
(2019). Modeling learning and forgetting processes with
the corresponding impacts on human behaviors in
infectious disease epidemics. Computers & Industrial
Engineering, 129, 563–577.
 Chandrasekhar, R., Sloan, C., Mitchel, E., Ndi, D., Alden,
N., Thomas, A., Bennett, N. M., Kirley, P. D., Hill, M.,
Anderson, E. J., Et al. (2017). Social determinants of
influenza hospitalization in the united states. Influenza and
other respiratory viruses, 11(6), 479–488.
 Fenichel, E. P., Castillo-Chavez, C., Ceddia, M. G.,
Chowell, G., Parra, P. A. G., Hickling, G. J., Holloway, G.,
Horan, R., Morin, B., Perrings, C., Et al. (2011). Adaptive
human behavior in epidemiological models. Proceedings of
the National Academy of Sciences, 108(15), 6306–6311.
 Herrera-Diestra, J. L., & Meyers, L. A. (2019). Local risk
perception enhances epidemic control. PloS one, 14(12).
 Meloni, S., Perra, N., Arenas, A., Gómez, S., Moreno, Y.,
& Vespignani, A. (2011). Modeling human mobility
responses to the large-scale spreading of infectious
diseases. Scientific reports, 1, 62.

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DR. MARIA D. PASTRANA NATIONAL HIGH SCHOOL

FINANCIAL CONSTRAINT: EFFECT OF COVID-19 ON SELECT LOCAL

FAMILIES IN MAUBAN, QUEZON
(SY. 2020 - 2021)

A Research Proposal/ Paper

Presented to Dr. Maria D. Pastrana National High School
Senior High School Department
In partial fulfillment of the requirements
In Research Subjects

Prepared by:

Rustria, Mark Lordson C.

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DR. MARIA D. PASTRANA NATIONAL HIGH SCHOOL

June 2021