scholarly journals The General Financial Education in China: Evidence From Ratio of Undergraduate Financial Education Majors in Universities

2021 ◽  
Vol 24 ◽  
pp. 302-316
Author(s):  
Jiachen Nan
Keyword(s):  
Financial Education ◽  
Coverage Rate ◽  
Field Education ◽  
Financial Knowledge ◽  
Education Majors ◽  
Electronic Money ◽  
Financial Situation ◽  
Low Concentration ◽  
General Field ◽  
Education In China

Since the development of electronic money, the complex financial situation has raised the importance of financial education. This study focuses on universities' undergraduate financial field education coverage, which helps estimate citizens' overall financial knowledge situation for most undergraduate universities, focusing on learning the general field knowledge that is similar to primary financial thought. The study shows a low concentration of financial education majors among universities; even though the available number of majors in all universities is low, the coverage rate of financial education majors towards universities is higher than initially thought. The results point out specific majors that are worth investing in accumulating financial education in China.

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.

scholarly journals THE RELATION BETWEEN FINANCIAL KNOWLEDGE AND ECONOMIC DECISIONS

2014 ◽  
Vol 59 (1) ◽  
pp. 59-67
Author(s):  
Sabina Kołodziej
Keyword(s):  
Young Adults ◽  
Young People ◽  
Banking System ◽  
Financial Education ◽  
Financial Knowledge ◽  
Economic Decisions ◽  
Current Economic Situation ◽  
Common Observation ◽  
Saving Decisions

Nowadays policymakers, government agencies and educators in Poland and in many European countries emphasize the role of individual possibilities to take independent decisions regarding one’s financial resources. Consequently, the increased interest in financial education programs is observed. Moreover, the complexity of financial products further demonstrates the need for a financial knowledge when making decisions in this sphere. However, simultaneously, the common observation of numerous examples of irrelevant decision-making, consequently leading to financial (e.g. abundant debt) or professional (e.g. loss of work) problems as well as results of studies on the level of financial knowledge show that in many cases our society, most probably, does not have the indispensable level of analyzed knowledge. The article presents results of 2 studies on the relation between financial knowledge and economic decisions made by Polish young adults. The study 1 focuses on the correlation between financial knowledge and saving decisions while the study 2 financial knowledge and respondents debts. In both studies the level of financial knowledge was measured by the test relating to the current economic situation of Poland, knowledge of basic economic and financial concepts and understanding of basic market mechanisms. Specially designed questionnaires analyzed respondents’ savings (study 1) and debts (study 2) decisions. The results of those studies show that examined a group of Polish young adults has an average level of financial knowledge. Moreover, the first study found positive correlation (on the level of statistical trend) between financial knowledge and savings decisions. The results of study 2 showed the higher financial knowledge among people who took credits or loans from bank in comparison with people who take credit and loans outside the banking system. Results obtained in the studies reinforce the idea of the important role of financial education in preparing young people to make their own economic decisions. Key words: debt, financial education, financial knowledge, saving, young people.

Adoption of students' loan schemes: the contingent role of financial knowledge

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Gloria Ocran ◽  
Livingstone Divine Caesar
Keyword(s):  
Critical Role ◽  
Financial Education ◽  
The Body ◽  
Financial Knowledge ◽  
Relative Advantage ◽  
Research Approach ◽  
Content Type ◽  
Four Dimensions ◽  
Behavioural Factors

PurposeDespite the introduction of structural reforms to the students' loan scheme (SLS) in Ghana's higher education sector, patronage is still low. This paper aims to examine the complexity of technological and behavioural factors underpinning the low rate of students' loan adoption in Ghana. It further contributes to the body of knowledge by exploring the moderating role of financial knowledge in the hypothesized relationships.Design/methodology/approachUsing a positivistic research approach, a sample of 700 tertiary students with experience in accessing SLSs were surveyed. An 88% response rate was realized and the data analysed using descriptive statistics, exploratory and confirmatory factor analysis.FindingsFour dimensions of technological factors (relative advantage, trialability, observability and compatibility) and two of behavioural factors (attitude and control behaviour) were positively related to adoption of the SLS. Financial knowledge only moderated the relationship between compatibility, attitude, behavioural control and students' loan adoption.Practical implicationsFinancial knowledge plays a critical role in influencing the investment decisions of people. Management of SLSs needs to offer financial education to targeted parents/students to clear misconceptions. It is also imperative that all other technical challenges are addressed to enhance adoption rates for the SLS. Review of guarantor requirements is needed also.Originality/valueThis paper introduces financial knowledge as a moderating variable to investigate the hypothesized relationships. It offers a developing country insight into how technological/behavioural factors and financial knowledge might be impacting adoption of SLSs.

scholarly journals The effect of financial education on pupils’ financial knowledge and skills: Evidence from a Solomon four-group design

2020 ◽  
Vol 113 (2) ◽  
pp. 93-107
Author(s):  
Shekinah E. Dare ◽  
Wilco W. van Dijk ◽  
Eric van Dijk ◽  
Lotte F. van Dillen ◽  
Marcello Gallucci ◽  
...  
Keyword(s):  
Financial Education ◽  
Financial Knowledge ◽  
Knowledge And Skills ◽  
Group Design

SaveWise: The design of a financial education program in the Netherlands

2019 ◽  
Vol 18 (2) ◽  
pp. 100-120 ◽  
Author(s):  
Aisa Amagir ◽  
Wim Groot ◽  
Henriëtte Maassen van den Brink ◽  
Arie Wilschut
Keyword(s):  
High School ◽  
High School Students ◽  
The Netherlands ◽  
Education Program ◽  
Self Efficacy ◽  
Financial Education ◽  
Goal Commitment ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
School Students

Using a framework for educational design research, this article reports and evaluates the (process of the) design of a financial education program. The program is designed for high school students in the prevocational track in the Netherlands. The aim of the program is to improve students’ financial knowledge, attitudes, self-efficacy, and (savings) behavior. The main outcome of this study is the identification of design principles that can be used by others for the design of financial education programs: setting a personal savings goal, commitment with and reflection on this goal, discussing money issues with peers and family, hands-on activities with autonomy, and explicit instruction through animated video clips. The results show that our program, called “SaveWise,” improves high school students’ financial knowledge and skills, financial awareness, attitudes towards money, self-efficacy, and financial behavior.

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