scholarly journals Influence of informal financial literacy training on financial knowledge and behavior of rural farmers: Evidence from Uganda

2021 ◽  
Vol 13 (3) ◽  
pp. 192-204
Author(s):  
Renzaho Proscovia Ntakyo ◽  
Mugisha Johnny ◽  
Bangizi Robert ◽  
Namwanje Diana ◽  
Kalyebara Robert
Keyword(s):  
Financial Literacy ◽  
Financial Knowledge ◽  
Rural Farmers ◽  
Literacy Training ◽  
And Behavior

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.

Financial knowledge, attitude and behavior: evidence from the Austrian Survey of Financial Literacy

Empirica ◽  
2019 ◽  
Vol 47 (4) ◽  
pp. 929-947
Author(s):  
Pirmin Fessler ◽  
Maria Silgoner ◽  
Rosa Weber
Keyword(s):  
Financial Literacy ◽  
Financial Knowledge ◽  
And Behavior

scholarly journals Financial Literacy among the Millennial Generation: Relationships between Knowledge, Skills, Attitude, and Behavior

2020 ◽  
Vol 14 (4) ◽  
pp. 24-37
Author(s):  
Vera Dewi ◽  
Erie Febrian ◽  
Nury Effendi ◽  
Mokhamad Anwar
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Millennial Generation ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Multiple Choice Questions ◽  
Management Behavior ◽  
Significant Relationships ◽  
Chi Squared ◽  
And Behavior

This study aims to determine the level of financial literacy among the millennial generation and to examine the correlation of their financial knowledge, financial attitude, and financial skills with their financial behavior. Multiple choice questions were used to measure financial knowledge with results grouped into three categories: low, moderate, and high. Financial attitude, financial skills, and financial behavior were also grouped using the quartile method into three categories: poor, fair, and good. Chi-squared analysis was used to test the hypotheses, with correspondence analysis conducted to identify the characteristics of the millennial generation and to graphically illustrate the gap. Regarding financial attitude, financial skills, and financial behavior, the proportions of respondents in the 'fair' category, were 70.6%, 66.5%, and 72.2%, respectively. Significant relationships were found not only between financial attitude and financial management behavior, but also between financial skills and financial management behavior. However, the relationship was not significant between financial knowledge and financial behavior.

scholarly journals Finanzwissen und Finanzbildung in Deutschland – Was wissen wir eigentlich?

2021 ◽  
Vol 90 (1) ◽  
pp. 11-32
Author(s):  
Tabea Bucher-Koenen ◽  
Caroline Knebel
Keyword(s):  
Low Income ◽  
Financial Literacy ◽  
Financial Stability ◽  
Financial Education ◽  
Financial Knowledge ◽  
Older Individuals ◽  
Financial Decisions ◽  
Financial Decision ◽  
High Level ◽  
And Behavior

Zusammenfassung: Im internationalen Vergleich verfügen die Deutschen über ein relativ hohes Finanzwissen. Allerdings bedeutet dies nicht, dass Finanzwissen universell verbreitet ist. Der Anteil der Befragten, der drei grundlegende Fragen zu Zins, Inflation und Risikodiversifikation richtig beantworten kann, liegt zwischen 53 % und 62 %. Dieser Anteil liegt bei Frauen, älteren Menschen, Personen mit geringem Einkommen und geringer Bildung deutlich niedriger. Wissenschaftliche Untersuchungen zeigen, dass sich Finanzwissen positiv auf Finanzentscheidungen auswirkt. Zudem können Finanzbildungsprogramme Finanzwissen und Finanzverhalten verbessern. In Deutschland gibt es bisher keine breit angelegte Financial Literacy-Strategie und damit auch keine gezielten Evaluationen und Qualitätssicherungsmaßnahmen für die angebotenen Programme. Eine solche Strategie könnte sowohl dazu beitragen Finanzentscheidungen Einzelner als auch die gesamtwirtschaftliche Stabilität zu verbessern. Summary: In an international comparison, Germans have a relatively high level of financial knowledge. However, this does not imply that financial knowledge is universally distributed. The share of respondents, who are able to answer three basic questions about interest rate, inflation, and risk diversification correctly, lies between 53 % and 62 %. Among women, older individuals, and people with low income or low education, this share is substantially lower. Research has shown that financial knowledge positively affects financial decision-making. Furthermore, financial education programs can enhance financial knowledge and behavior. In Germany, no broad financial literacy strategy exists and, therefore, no targeted evaluations and quality assurance measures for programs are in place. Such a strategy could improve people’s financial decisions as well as the overall financial stability.

scholarly journals Mediation effect of financial attitude on financial knowledge and financial behavior

2020 ◽  
Vol 9 (2) ◽  
pp. 01-08
Author(s):  
Ali Çoşkun ◽  
Nurdilek Dalziel
Keyword(s):  
Financial Literacy ◽  
Structural Equation ◽  
Financial Knowledge ◽  
Mediation Effect ◽  
Financial Behavior ◽  
Equation Modeling ◽  
Literacy Survey ◽  
The Individual ◽  
And Behavior ◽  
The Relationship

In this study, 396 university students in Turkey are surveyed online regarding their attitudes towards financial issues, their level of financial knowledge, and their financial behavior. The latest version of OECD/INFE Financial Literacy Survey (2018) is used in the study. Using SPSS and LISREL. Factor analysis, Cronbach's Alpha, and Structural Equation Modeling (SEM) are used to analyze the relationship between financial knowledge of the participants with their financial attitude and behavior as well as the mediation effect of financial attitude in this relationship. In line with the common wisdom that the relationship between knowledge and behavior is higher if knowledge is better reflected in the attitude of the individual, the mediation effect of financial attitude strengthens the financial knowledge and financial behavior relationship.

scholarly journals Measuring financial literacy: proposition of an instrument based on the Item Response Theory

2020 ◽  
Vol 42 ◽  
pp. e38
Author(s):  
Kelmara Mendes Vieira ◽  
Fernando De Jesus Moreira Júnior ◽  
Ani Caroline Grigion Potrich
Keyword(s):  
Item Response Theory ◽  
Item Response ◽  
Financial Literacy ◽  
Financial Education ◽  
Three Dimensions ◽  
Financial Knowledge ◽  
Financial Behavior ◽  
Response Theory ◽  
Graded Response ◽  
And Behavior

Financial literacy is a complex and multidimensional phenomenon. Thus, building a financial literacy measure has been a challenge. This study seeks to contribute to this scenario by proposing a Financial Literacy measure. The three dimensions suggested by the Organization for Economic Co-operation and Development (OECD) are considered: financial education, financial attitude and financial behavior. For validation of the measurement, the questions were constructed and the instrument was applied in 1576 Brazilians, between November and December 2013. To evaluate the measurement, two models of the Item Response Theory were used, the unidimensional two-parameter logistic model for the Financial Knowledge scale and the Graded Response Model (GRM) for financial attitude and behavior. From the main items, five levels of financial literacy were constructed. The results pointed to the appropriateness of the proposed measure. The final instrument has thirteen questions of financial knowledge, six of financial attitude and twenty-four of financial behavior, which allow to identify the level of individual financial literacy in each of the three dimensions. From the ability scales, we found that 44.10% of respondents had average financial knowledge. In the attitude and behavior scales, the most representative level was also the median (ability between -0.5 and 0.5).

scholarly journals Predicting Fraud Victimization Using Classical Machine Learning

Entropy ◽  
2021 ◽  
Vol 23 (3) ◽  
pp. 300
Author(s):  
Mark Lokanan ◽  
Susan Liu
Keyword(s):  
Machine Learning ◽  
Financial Literacy ◽  
Learning Algorithm ◽  
Demographic Characteristics ◽  
Financial Knowledge ◽  
The Past ◽  
Machine Learning Model ◽  
Long Time ◽  
Regulatory Organization ◽  
Investment Fraud

Protecting financial consumers from investment fraud has been a recurring problem in Canada. The purpose of this paper is to predict the demographic characteristics of investors who are likely to be victims of investment fraud. Data for this paper came from the Investment Industry Regulatory Organization of Canada’s (IIROC) database between January of 2009 and December of 2019. In total, 4575 investors were coded as victims of investment fraud. The study employed a machine-learning algorithm to predict the probability of fraud victimization. The machine learning model deployed in this paper predicted the typical demographic profile of fraud victims as investors who classify as female, have poor financial knowledge, know the advisor from the past, and are retired. Investors who are characterized as having limited financial literacy but a long-time relationship with their advisor have reduced probabilities of being victimized. However, male investors with low or moderate-level investment knowledge were more likely to be preyed upon by their investment advisors. While not statistically significant, older adults, in general, are at greater risk of being victimized. The findings from this paper can be used by Canadian self-regulatory organizations and securities commissions to inform their investors’ protection mandates.

Effective Financial Decision Aids for Retirement

2017 ◽  
Vol 49 (2) ◽  
pp. 102-118
Author(s):  
Susan L. Rose ◽  
John E. Morrison
Keyword(s):  
Financial Literacy ◽  
Decision Aid ◽  
Financial Training ◽  
Decision Aids ◽  
Armed Forces ◽  
Fiscal Year ◽  
National Defense ◽  
Review Of The Literature ◽  
Literacy Training ◽  
Financial Decision

The National Defense Authorization Act for Fiscal Year 2016 directs the Secretaries of the Armed Forces and the Chiefs of Staff of the Armed Forces to provide financial literacy training to Service members at certain critical points throughout their careers, including the transition to retirement. Based on a review of the literature, we find that general financial training is ineffective. More effective are decision aids that provide assistance at the time the decision is being made. This article provides a discussion of what such a decision aid would entail.

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