scholarly journals The mysteries of financial culture and financial habits

2021 ◽  
Vol 15 (1) ◽  
pp. 88-95
Author(s):  
Dóra Major ◽  
Brigitta Zsótér
Keyword(s):  
Social Background ◽  
Financial Knowledge ◽  
Financial Decisions ◽  
Debit Card ◽  
Savings And Loan

In this research I will investigate the financial culture among the students of the Technical Faculty of University of Szeged. I will analyse the results of questionnaires about the alumni’s’ financial culture and financial habits. I aim to learn more about the student’s financial knowledge, debit card usage, savings and loan habits. Also, I research how the students demographic and social background impact their financial decisions and habits.  

scholarly journals Financial Literacy in Japan: New Evidence Using Financial Knowledge, Behavior, and Attitude

2020 ◽  
Vol 12 (9) ◽  
pp. 3683 ◽  
Author(s):  
Yoshihiko Kadoya ◽  
Mostafa Saidur Rahim Khan
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Well Being ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Economic Factors ◽  
Financial Decisions ◽  
Aged People ◽  
And Behavior ◽  
Socio Economic Factors

Success in the current complex and sophisticated financial marketplaces depends on the ability of people to make sustainable financial decisions to improve their future well-being, for which financial literacy is a pathway. This study examines the relationship between the demographic and socio-economic factors and financial literacy in Japan by segregating financial literacy into financial knowledge, attitude, and behavior, and providing a deeper understanding of the relationships. The methodology included using data from the Financial Literacy Survey 2016 by the Central Council for Financial Services Information of Japan. We used a linear regression model to explain how demographic and socio-economic factors relate to financial knowledge, attitude, and behavior. Results show that education, the balance of financial assets, and the use of financial information are positively related, while the experience of financial trouble is negatively related to financial knowledge, attitude, and behavior. We show that males are more financially knowledgeable than females, but females are more positive than males with regard to financial behavior and financial attitude. Age is positively related to financial knowledge but negatively related to financial attitude, thus suggesting that middle-aged people in Japan are more financially knowledgeable, but younger and older people are more positive with regard to financial behavior and attitude. The findings have implications for policymakers.

scholarly journals Financial Knowledge as Youth Preneur Success Factor

2019 ◽  
Vol 10 (2(S)) ◽  
pp. 26-32
Author(s):  
Achmad Kautsar ◽  
Nadia Asandimitra
Keyword(s):  
Financial Literacy ◽  
Sampling Technique ◽  
Financial Knowledge ◽  
Test Reliability ◽  
Financial Behavior ◽  
Cluster Sampling ◽  
Success Factor ◽  
Entrepreneurial Success ◽  
Financial Decisions ◽  
Entrepreneurial Skills

Indonesia currently has developed entrepreneurship both conceptually and practically and has developed very rapidly. Knowledge that must be possessed by an entrepreneur is financial knowledge. Adequate financial knowledge is needed to provide entrepreneurial skills to make sound financial decisions. Other variables of financial behavior that are important to be measured along with financial knowledge on the success of young entrepreneurial business are the level of financial behavior and financial literacy. This research was designed as explanatory research to explain the subject of the influence of financial knowledge, financial literacy, and financial attitude towards young entrepreneurial success. The research was conducted in the city of Surabaya. The population of this study is young entrepreneurs who have micro businesses. The sampling technique is done in a way cluster sampling. The analytical method used in this study is to use multiple linear regressions with validity test, reliability test, classic assumption test, and hypothesis testing.

PENGARUH FINANCIAL ATTITUDE DAN FINANCIAL KNOWLEDGE TERHADAP KEPUTUSAN KEUANGAN PADA PEMILIK USAHA KECIL DAN MENENGAH (UKM) DI PULAU LOMBOK: SUATU PERSPEKTIF BEHAVIORAL FINANCE

2020 ◽  
Vol 6 (2) ◽  
pp. 166-178
Author(s):  
Siti Aisyah Hidayati ◽  
Sri Wahyulina ◽  
Embun Suryani
Keyword(s):  
Decision Making ◽  
Behavioral Finance ◽  
Financial Management ◽  
Sampling Technique ◽  
Provincial Government ◽  
Financial Knowledge ◽  
Financial Attitudes ◽  
Financial Decisions ◽  
Financial Decision Making ◽  
Financial Decision

This study aims to analyze the effect of Financial Attitude and Financial Knowledge on financial decisions on Small and Medium Business Owners (UKM) on Lombok Island. The theoretical contribution of this research is expected to contribute to science and the development of behavioral finance theories related to financial decision making in Small and Medium Enterprises (SMEs). It is also expected that behavioral finance will be the subject of financial management courses. Furthermore, the practical contribution of this research is expected to provide input, suggestions and recommendations to the policy maker of the NTB Provincial Government in making policies related to the development of SMEs. This research is a quantitative approach based research, with the type of explanatory research. The study population is all SMEs in the island of Lombok. The sampling technique is done by using Non probability sampling, which uses judgment sampling, which is choosing SMEs that are engaged in the pottery industry and have already exported. From the existing population, there are 35 (thirty-five) SMEs that can be taken as samples. Respondents in this study are the owners of each of these UKM. Data collection techniques used in this study were using a questionnaire. To achieve research objectives and hypothesis testing, the data obtained will be processed according to needs using GSCA (Generalized Structured Component Analysis) statistical tools.The results showed that Financial Attitudes had a positive and significant effect on financial decision making by SME owners and owners. This means that the better the Financial Attitudes owned by SME owners, the bolder they are in making financial decisions. Financial Knowledge has a positive and significant impact on financial decision making by SME owners and owners. This means that the better the Financial Knowledge possessed by SME owners, the bolder the financial decisions will be

Validating Financial Knowledge Scale Using Item Response Theory

2021 ◽  
pp. 097226292110019
Author(s):  
Isha Bajaj ◽  
Mandeep Kaur
Keyword(s):  
Item Response Theory ◽  
Item Response ◽  
Financial Literacy ◽  
Financial Knowledge ◽  
Multiple Choice Questions ◽  
Response Theory ◽  
Wrong Answer ◽  
Financial Decisions ◽  
Difficulty Index ◽  
Knowledge Scale

It is important to have knowledge about financial products and services to make rational financial decisions. Financial knowledge is a wider term and hence difficult to measure. The previous studies have used various methods and instruments to measure it. But there is a need of comprehensive and validated instrument to measure the financial knowledge. In this study, an attempt has been made to measure financial knowledge using a scale consisting of multiple-choice questions on basic and specific financial knowledge related with banking products and services. Each correct answer has been scored ‘1’ and each wrong answer has been scored ‘0’. This dichotomous scale has been validated using Item Response Theory. The theory focuses on the appropriateness of the questions (items) included in the scale with respect to difficulty and discriminability. The results reveal that the overall instrument fulfils both the criteria. The test consisting of twenty-two items is reliable as well as valid with the discrimination index having all positive values ranging from 0.23 to 1.96 and the difficulty index ranging from –5.66 to 0.90. The purpose of this article is to encourage the usage of validated scales for the measurement of financial knowledge and discourage the perplexity in the field of financial knowledge and financial literacy.

scholarly journals The Impact of Cognitive Factors on Individuals’ Financial Decisions

2020 ◽  
Vol 19 (3) ◽  
pp. 69-88
Author(s):  
Marhanum Che Mohd Salleh ◽  
Keyword(s):  
Financial Planning ◽  
Financial Knowledge ◽  
Cognitive Factors ◽  
Quantitative Methodology ◽  
University Staff ◽  
Internal Factors ◽  
Financial Decisions ◽  
Financial Decision ◽  
The Individual ◽  
The Impact

"The objective of this paper is to examine the effect of cognitive factors which are financial knowledge, herding behaviour and financial planning towards individuals’ financial decisions. A total of 173 survey data were collected from university staff consisting of administrative and academic members. This research adopted a quantitative methodology for data collection as well as data analysis. Multiple regression analysis was used to examine the effect of cognitive factors towards the dependent variable which is financial decision. Results indicate that only two cognitive variables which are financial knowledge and financial planning have a significant effect toward financial decisions. Herding behaviour was found to insignificantly effect the individual financial decision process. Results of this research would be of significance to proof that other than external factors, internal factors which are cognitive elements are crucial in influencing individual financial decisions. Keywords: Financial planning, herding behaviour, financial knowledge, financial decision, cognitive factor"

scholarly journals Pengaruh Financial Knowledge, Financial Satisfaction, Financial Confidence terhadap Financial Behavior

2021 ◽  
Vol 5 (1) ◽  
pp. 72
Author(s):  
Iskandy Wijaya ◽  
Yanuar Yanuar
Keyword(s):  
Sampling Technique ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Primary Data ◽  
Financial Satisfaction ◽  
Cross Sectional ◽  
Probability Sampling ◽  
Financial Decisions ◽  
Convenience Sampling ◽  
Cross Sectional Design

The purpose of this study is to analyze the effect of Financial Satisfaction, Financial Knowledge, Financial Confidence on Financial Behavior. This study uses the theory of planned behavior and financial behavior theory. The problem in this research is to find out the factors that can improve an individual's financial behavior in making appropriate financial decisions. This study uses a conclusive and descriptive research design. This research data is primary data obtained by a cross-sectional design. The sampling technique of this study was non-probability sampling using convenience sampling. This research was conducted with OVO application users in UNTAR. The results of this study indicate that Financial Knowledge and Financial Confidence have a significant effect on Financial Behavior while Financial Satisfaction does not affect Financial Behavior. Tujuan penelitian ini adalah untuk menganalisis pengaruh Financial Satisfaction, Financial Knowledge, Financial Confidence terhadap Financial Behavior. Penelitian ini menggunakan teori perilaku terencana dan teori perilaku keuangan. Masalah dalam penelitian ini yaitu untuk mengetahui faktor yang dapat meningkatkan perilaku keuangan individu dalam pengambilan keputusan keuangan yang tepat. Penelitian ini menggunakan desain penelitian konklusif dan deskriptif. Data penelitian ini merupakan data primer yang diperoleh dengan cross-sectional design. Teknik pengambilan sampel penelitian ini adalah non-probability sampling dengan menggunakan convenience sampling. Penelitian ini dilakukan kepada pengguna aplikasi OVO di UNTAR. Hasil penelitian ini menunjukan bahwa Financial Knowledge dan Financial Confidence berpengaruh signifikan terhadap Financial Behavior sedangkan Financial Satisfaction tidak berpengaruh terhadap Financial Behavior.

Role of financial risk attitude and financial behavior as mediators in financial satisfaction

2018 ◽  
Vol 7 (2) ◽  
pp. 207-224 ◽  
Author(s):  
Kumar Saurabh ◽  
Tanuj Nandan
Keyword(s):  
Financial Risk ◽  
Uttar Pradesh ◽  
Risk Attitude ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Survey Method ◽  
Financial Satisfaction ◽  
Content Type ◽  
Financial Decisions ◽  
Tier Ii

Purpose The purpose of this paper is to examine the relationships between financial knowledge, socialization and financial satisfaction with financial risk attitude and financial behavior as a mediator after demonetization and introduction of GST. Design/methodology/approach The sample consisted responses of 286 individuals from the city of Allahabad, Uttar Pradesh, India and making financial decisions for the household for at least last two years. The data were analyzed using exploratory factor analysis and mediation regression analysis. Findings All sub-scales used to measure constructs had satisfactory reliabilities and internal consistencies. It was found that financial risk attitude and financial behavior both mediate the relationship between financial socialization and financial satisfaction as well as between financial knowledge and financial satisfaction. Research limitations/implications This research is based upon survey method and voluntary participation. Hence one can question generalization of findings to larger samples. Moreover, the study is limited to a restricted geographical region which could affect the generalization of findings. Practical implications Results provide insights into the antecedents of financial satisfaction of individuals from tier II city of India. Financial planners may utilize this study for enhancement of financial satisfaction of their clients and hence retention of the same. Originality/value A majority of researchers use survey without evaluation validity of instruments in the selected context and sample. This research contributed to the literature and practice by testing validation of constructs of financial satisfaction in India.

scholarly journals Financial citizenship as a broader democratic context of financial literacy

2020 ◽  
pp. 204717342094841
Author(s):  
Medhat Khalil
Keyword(s):  
Financial Literacy ◽  
Global Education ◽  
Well Being ◽  
Financial Knowledge ◽  
Future Generations ◽  
Modern World ◽  
World Population ◽  
Financial Socialization ◽  
Political Systems ◽  
Financial Decisions

Financial citizenship is crucial in our modern world. Financial citizenship is underpinned by the education of future generations so that they can understand both their local and global economies to make the best financial decisions concerning their lives. This paper discusses financial literacy, how it relates to individual citizens, and how it correlates with social, political and business spheres. According to current financial capability models, every individual’s financial well-being can be boosted by developing their financial knowledge and competency, which will improve their motivations and confidence. Societal constructs significantly create financial socialization, which increases our accessibility and engagements with institutions, businesses, political systems and society as a whole. Being educated about the details required for financial literacy is every human being’s right. Citizens have been characterized as being personally responsible, participatory or justice oriented; each person’s specific perspective can impact their financial lives, which supports the importance of the current concept of financial citizenship. Boosting global education about economic citizenship will help to reduce poverty, create more sustainable economic environments, and improve social outcomes and the life satisfaction of the world population. These concepts will be explored and discussed in this paper.

scholarly journals A DETERMINANTS OF FINANCIAL BEHAVIOR ON ACCOUNTING STUDENT

2020 ◽  
Vol 5 (37) ◽  
pp. 44-55
Author(s):  
Wirawan ED Radianto ◽  
Tommy C. Effrata ◽  
Liliana Dewi
Keyword(s):  
Locus Of Control ◽  
Financial Literacy ◽  
Self Efficacy ◽  
Positive Impact ◽  
Mental Accounting ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Financial Decisions ◽  
The Impact ◽  
Accounting Student

This study examines the impact of financial literacy, financial knowledge, locus of control, financial attitude, financial self-efficacy, and mental accounting on financial behavior. The study sample is an accounting student. There are 159 questionnaires that can be processed in total out of 250 distributed to the accounting selected at random. Hypothesis testing was conducted using multiple regression analysis. The result of the study shows that locus of control, financial attitude, financial self-efficacy, and mental accounting has a positive impact on financial behavior. However, this study found that financial literacy and financial knowledge do not affect financial behavior. This study also found that mental accounting has the most influence on financial behavior. This research contributes that mental accounting enables students to manage finances and make financial decisions.

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