scholarly journals The Role of Marketing Tools in the Improvement of Consumers Financial Literacy

2015 ◽  
Vol 27 (1) ◽  
pp. 40-45 ◽  
Author(s):  
Sergejs Paramonovs ◽  
Ksenija Ijevleva
Keyword(s):  
Empirical Analysis ◽  
Web Sites ◽  
Financial Literacy ◽  
School Curriculum ◽  
Target Audience ◽  
Financial Knowledge ◽  
Marketing Communication ◽  
Different Types ◽  
Financial Behaviour

Abstract The aim of the paper is to explore the contribution of different types of marketing communication in consumer financial literacy formation from a three component perspective. As a method a survey among the target audience of home loans was used. The authors have focused on consumer financial knowledge, financial behaviour and financial attitude that constitute financial literacy in home loan market. As a result of empirical analysis the authors have found that the biggest contribution to formation of consumers financial literacy (within all three components) have educational web sites of government authorities, official web sites of banks, consultations with bank specialists, school curriculum subjects and opinions of friends, relatives and acquaintances.

Living beyond one’s means: evidence from Malaysia

2015 ◽  
Vol 43 (1) ◽  
pp. 2-18 ◽  
Author(s):  
Yiing Jia Loke
Keyword(s):  
Low Income ◽  
Financial Literacy ◽  
Financial Distress ◽  
Financial Management ◽  
Practical Knowledge ◽  
Financial Education ◽  
Financial Knowledge ◽  
Content Type ◽  
Explanatory Variables ◽  
Financial Behaviour

Purpose – The purpose of the paper is to identify the determinants of the probability of living beyond one’s means. The paper also explores the coping mechanisms of those financially distressed as well as the debt taking behaviour of consumers. Design/methodology/approach – The study uses data obtained from the OECD International Network on Financial Education pilot study on Measuring Financial Literacy in 2010 for the case of Malaysia. A logistic regression model is used to identify the main determinants of the probability that a consumer will live beyond his/her means. The analysis is carried out by using a set of socio-economic factors and the individual’s financial behaviour and attitudinal characteristics as explanatory variables. Findings – The findings indicate that low income and seasonal income earners are more vulnerable to financial distress. Furthermore, having a higher education, higher financial knowledge and prudent financial behaviour and attitude do not necessarily translate into better financial management. Family and friends provide the main source of financial assistance in times of need. Research limitations/implications – The assessment of financial knowledge should go beyond individual’s knowledge on financial concepts and theories. Practical knowledge on financial and cash flow management should be assessed. Practical implications – The study reiterates the importance of financial education. It is imperative to include financial education as part of the schools’ curriculum and also to be incorporated as part of the Continuous Professional Development modules for working adults. Originality/value – The study is based on the first nationwide study of consumer finances in Malaysia. It contributes to the literature by integrating financial behaviour and attitudinal factors into the analysis of the ability of individuals to live within their means. The findings also show the limitations of the existing self-assessment of financial behaviour and attitude and the assessment of financial knowledge.

scholarly journals Some Insights Into Financial Literacy Among Undergraduate Students: A Case of Bosnia and Herzegovina

2021 ◽  
Vol 12 (3) ◽  
pp. 103
Author(s):  
Jasmina Okicic ◽  
Meldina Kokorovic Jukan ◽  
Mensur Heric
Keyword(s):  
Undergraduate Students ◽  
Financial Literacy ◽  
Sampling Technique ◽  
Financial Education ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Financial Attitudes ◽  
Significant Difference ◽  
Financial Behaviour ◽  
The Relationship

The purpose of this research is to provide some insights into financial literacy among undergraduate students focusing primarily on the relationship between financial knowledge, financial attitudes and financial behavior and on possible gender and financial education gap in financial literacy. Using the purposive sampling technique, data collection was carried out from April to June 2020, yielding a sample of 1,046 valid responses. To gain a better understanding of the relationship between financial behaviour, financial attitudes and financial knowledge, we, primarily, use exploratory factor analysis and multiple regression model. The research findings have revealed several important issues. First, findings have suggested that financial knowledge, financial attitudes and gender may be considered as an antecedent of the financial behaviour of undergraduate students. Second, findings have also suggested a statistically - significant difference between the financial literacy of undergraduate students concerning their exposure to formal financial education.

Financial Literacy of Indian Youth: A Study on the Twin Cities of Hyderabad–Secunderabad

2016 ◽  
Vol 6 (2) ◽  
pp. 132-147
Author(s):  
Mousumi Singha Mahapatra ◽  
Swati Alok ◽  
Jayasree Raveendran
Keyword(s):  
College Students ◽  
Financial Literacy ◽  
Financial Planning ◽  
Parental Influence ◽  
Negative Impact ◽  
Positive Impact ◽  
Twin Cities ◽  
Different Types ◽  
The Status

A person’s capability to manage financial matters has become important in today’s world. Availability of different types of sophisticated financial products coupled with the complexity and increased uncertainty of the economy and financial markets have generated a strong move to measure and study financial literacy among investors. The present article aims to analyze the status of financial literacy of college students with three identified antecedents, namely, socio-demographic characteristics, parental influence and attitude towards financial planning. A sample of 425 students from various colleges of the Hyderabad–Secunderabad region was studied to understand the role of the identified antecedents on financial literacy. The results of logistic regression analysis support the hypothesis that financial literacy of Indian college students is influenced by their socio-demographic characters, parental influence and their attitude towards financial planning. While both socio-demographic and parental influences have a positive impact on financial literacy, attitude towards financial planning is observed to have a negative impact.

scholarly journals Relationship Between Various Determinants and Dimensions of Financial Literacy Among Working Class

2020 ◽  
Vol 11 (5) ◽  
pp. 319
Author(s):  
Khujan Singh ◽  
Poonam Rani ◽  
Chand Kiran
Keyword(s):  
Factor Analysis ◽  
Working Class ◽  
Financial Literacy ◽  
Geographical Area ◽  
Financial Knowledge ◽  
National Capital Region ◽  
Capital Region ◽  
Significant Difference ◽  
National Capital ◽  
Financial Behaviour

The purpose of this empirical research work was to identify the relationship between various determinants of Financial Literacy among the working class of National Capital Region of India. It was a descriptive study based on the survey of 596 working class respondents. The data has been analyzed by factor analysis, correlation and regressions analysis. Based on the factor analysis, three factors have been found of financial knowledge, three factors of financial behaviour and in a similar manner four factors of financial attitude have been extracted. Further, based on the multiple regression models the contribution of financial attitude has been found highest in explaining the financial literacy and it has been followed by financial behaviour and financial knowledge. It means that both financial attitude and financial behaviour are better estimators of financial literacy in comparison to the financial knowledge. Therefore, the policy makers, financial system regulators and governments should do more efforts to improve the level of financial attitude and financial behaviour in comparison to the financial knowledge to improve the level of financial literacy because significant difference has been found in the level of financial attitude and financial behaviour across some of the demographic factors. The increased financial literacy would be helpful in improving the saving and investment behaviour of the public. This improved level of financial literacy of public will save the required level of capital for the capital formation for the targeted economic growth. Consequently, more employment opportunities will increase the social security in the society. Like every study, this study also have certain limitations like the universe of the study was limited to a particular geographical region i.e. National Capital Region of India, along with time and money constraints. In future similar study can be conducted by changing the target population and geographical area with a bigger sample.

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

2019 ◽  
Vol 8 (1) ◽  
pp. 51-60 ◽  
Author(s):  
Kamini Rai ◽  
Shikha Dua ◽  
Miklesh Yadav
Keyword(s):  
Structural Equation Modeling ◽  
Financial Literacy ◽  
Structural Equation ◽  
Goodness Of Fit ◽  
Strong Association ◽  
Working Women ◽  
Financial Knowledge ◽  
Equation Modeling ◽  
Modeling Approach ◽  
Financial Behaviour

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.

scholarly journals Exploring a leading and lagging regions dichotomy: does entrepreneurship and diversity explain it?

2021 ◽  
Vol 10 (1) ◽  
Author(s):  
Thomas Ejdemo ◽  
Daniel Örtqvist
Keyword(s):  
Economic Growth ◽  
Cluster Analysis ◽  
Regional Development ◽  
Empirical Analysis ◽  
Regional Growth ◽  
Industry Structure ◽  
Development Policies ◽  
Regional Development Policies ◽  
Different Types

AbstractThere has been a long debate about the role of industry structure in the literature on why some regions successfully achieve economic growth, while other regions stagnate or decline. This paper provides an empirical analysis in which we, based on a cluster analysis, develop a taxonomy for regional growth. In a second part of the study, we explore how specialization and entrepreneurship are meaningful to discriminate between the different types of regions. Our results suggest that regional entrepreneurship and industry diversity characterized by relatedness are key elements in understanding why some regions are leading while others lag behind. The suggested taxonomy is argued to contribute with a nuanced perspective that can enhance discussions about improvements of regional development policies and to further empirical analysis on the topic.

scholarly journals Characterizing Financial Literacy in light of Primary and Secondary School Syllabus in Tanzania

2019 ◽  
Author(s):  
JUMA BUHIMILA MABULA ◽  
Han-Ping Dong
Keyword(s):  
Secondary School ◽  
Financial Literacy ◽  
School Curriculum ◽  
Young Age ◽  
Financial Knowledge ◽  
Young Generation ◽  
Knowledge And Skills ◽  
Literacy Standards ◽  
Secondary School Curriculum ◽  
Primary And Secondary School

This study focused on reviewing and benchmarking how Tanzania primary and secondary school curriculum able to impart personal financial knowledge and skills to the young generation. Stressing the need and the importance of personal financial literacy at young age. <b>Approach:</b> among other aspects the review uses jumpstart coalition financial literacy standards to assess the adequacy of the syllabus to impart personal financial literacy

scholarly journals Characterizing Financial Literacy in light of Primary and Secondary School Syllabus in Tanzania

2019 ◽  
Author(s):  
JUMA BUHIMILA MABULA ◽  
Han-Ping Dong
Keyword(s):  
Secondary School ◽  
Financial Literacy ◽  
School Curriculum ◽  
Young Age ◽  
Financial Knowledge ◽  
Young Generation ◽  
Knowledge And Skills ◽  
Literacy Standards ◽  
Secondary School Curriculum ◽  
Primary And Secondary School

This study focused on reviewing and benchmarking how Tanzania primary and secondary school curriculum able to impart personal financial knowledge and skills to the young generation. Stressing the need and the importance of personal financial literacy at young age. <b>Approach:</b> among other aspects the review uses jumpstart coalition financial literacy standards to assess the adequacy of the syllabus to impart personal financial literacy

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