Association of Financial Attitude, Financial Behaviour and Financial Knowledge Towards Financial Literacy: A Structural Equation Modeling Approach

Financial literacy is an ability of individual to take considerable decisions in respect of the effective and efficient utilization of money. In present study, authors have presented an association of financial knowledge, financial behaviour and financial attitude towards the financial literacy level among working women in Delhi, India. The sample size of 394 working women from various public and private organizations of Delhi has been incorporated for the research. A structured questionnaire designed on a 5-point Likert scale has been used based on purposive sampling, and the goodness of fit is determined by analysis of moments structures (AMOS) by applying structural equation modeling approach (SEM). The association between three independent variables is investigated applying path analysis for hypothesis testing. The findings revealed that financial attitude and financial behaviour have strong association with financial literacy of working women than financial knowledge.

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Investigating the level of financial literacy of university students

RACE - Revista de Administração Contabilidade e Economia ◽

10.18593/race.v16i3.13458 ◽

2017 ◽

Vol 16 (3) ◽

pp. 845-866 ◽

Cited By ~ 1

Author(s):

Israel José dos Santos Felipe ◽

Harrison Bachion Ceribeli ◽

Túlio Queiroz Lana

Keyword(s):

Structural Equation Modeling ◽

University Students ◽

Financial Literacy ◽

Structural Equation ◽

Financial Education ◽

Well Being ◽

Financial Knowledge ◽

Financial Behavior ◽

Equation Modeling ◽

Financial Attitudes

AbstractConsidering that the quality of financial decisions taken by individuals depends on their financial knowledge, abilities and attitudes, it is possible to state that the well-being of a population depends on how financially literate it is. In this context, the aim of this study was to measure the financial literacy level of university students in north of Mexico. The research method used was the survey and the data collected were analyzed using the structural equation modeling technique. As results, it was possible to confirm that financial attitudes of university students of north of Mexico influence their financial behavior. However, it was not confirmed that financial knowledge of these students impacts their financial behavior. As a high relationship between financial attitudes, financial behavior and financial knowledge of analyzed individuals was not found, it is concluded that the level of financial literacy of university students in the north of Mexico is low. It implies in the necessity to invest in financial literacy programs that could help this population to better manage their resources, what would certainly impact on its savings and consumption decisions, and retirement planning.Keywords: Financial Literacy. Financial Education. Structural Equation Modeling. Mexican Students. Investigando o nível de alfabetização financeira de estudantes universitários ResumoConsiderando que a qualidade das decisões financeiras tomadas pelos indivíduos depende de seus conhecimentos, habilidades e atitudes financeiras, é possível afirmar que o bem-estar de uma população depende do quão financeiramente alfabetizada ela é. Neste contexto, o objetivo deste estudo foi mensurar o grau de alfabetização financeira dos estudantes universitários do norte do México. O método de pesquisa utilizado foi a survey e os dados coletados foram analisados por meio da técnica de modelagem de equações estruturais. Como resultados, foi possível confirmar que as atitudes financeiras dos universitários do norte do México influenciam seu comportamento financeiro. Todavia, não se confirmou que o conhecimento financeiro desses estudantes impacta seu comportamento financeiro. Como não se encontrou uma forte relação entre os conhecimentos, atitudes e comportamentos financeiros dos indivíduos analisados, conclui-se que o nível de alfabetização financeira dos estudantes universitários do norte do México é baixo. Isso implica na necessidade de investir em programas de alfabetização financeira para auxiliar essa população a melhor gerir seus recursos, o que certamente irá impactar em suas decisões de poupança e consumo, assim como em seu planejamento de aposentadoria.Palavras-chave: Alfabetização financeira. Educação financeira. Modelagem de equações Estruturais. Estudantes mexicanos.

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The Role of Knowledge Brokers in Improving Financial Literacy

10.47260/amae/1135 ◽

2021 ◽

pp. 75-103

Author(s):

Chaouki Mouelhi ◽

Hajer Hammami

Keyword(s):

Structural Equation Modeling ◽

Financial Literacy ◽

Structural Equation ◽

Positive Impact ◽

Financial Education ◽

Financial Knowledge ◽

Financial Behavior ◽

Equation Modeling ◽

Knowledge Brokers ◽

The Impact

Several governments around the world have tried strategies based primarily on financial education programs to improve the financial literacy of their citizens. In this study, we discuss a new strategy that involves using knowledge transfer activities carried out by intermediary agents, called financial knowledge brokers, to achieve significant improvement in financial literacy. Thus, the aim of this paper is to test the impact of the five activities of financial knowledge brokers (i.e., financial knowledge acquisition, financial knowledge integration, financial knowledge adaptation, financial knowledge dissemination, and creation of links) on financial literacy. For this, we built a database from a questionnaire carried out to nearly 103 financial advisers during the period June 2015 to June 2017. Overall, the results of Structural equation Modeling (SEM) technique showed that the financial knowledge brokerage activities (four of the five activities) have a positive impact on improving financial literacy as well as on its four dimensions, namely financial attitude, financial behavior, basic financial knowledge, and advanced financial knowledge. JEL classification numbers: D80, F65, G20, I20. Keywords: Financial literacy, Knowledge brokers, Structural equation modeling.

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