Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When?

Kaiser, Tim; Menkhoff, Lukas

doi:10.1093/wber/lhx018

Cited by 232 publications

(132 citation statements)

References 63 publications

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“…(Chanda, Howlader and Nahar, 2012) concluded that in Bangladesh, women's say in decisions regarding household purchases increased with education. In a meta-analysis of 126 impact evaluation studies, (Kaiser and Menkhoff, 2017) found that financial education significantly impacts financial behavior and financial literacy. (Antonides, 2011) found that financial management arrangements were influenced by the wife's education.…”

Section: Educationmentioning

confidence: 99%

The Role of Working Women in Investment Decision Making in the Family In India

Sharma¹,

Kota²

2019

AABFJ

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The contribution of Indian women in family, businesses and society is today being recognized. The role of women in the family decisions is also increasing with the change in demographics as more women are now participating in economic activities. With the change in education, employment and contribution in the earnings of the family, her say in the family decisions are increasing. When it comes to the investment decisions, women tend to be risk averse, have conservative attitude, lower levels of financial knowledge, lack of confidence and dependent on guidance from others as suggested by different researches worldwide. The role of husband becomes particularly important for women while choosing investment products or taking investment decisions. This article attempts to highlight the role of women in investment decision making in the family and further examines the role of a male spouse on the investment decisions. The objectives of the study were to examine the behavior of working women while taking investment decisions; and to identify the extent to which the investment decisions of the working women are influenced by the spouse/husband. The article further highlights that, when it comes to investment decisions, both husband and wife share responsibility for making investment decisions. There are investment products like Bank deposits, 5 year tax saving FDs, precious metals, public provident fund, national pension system, post office saving schemes, mutual funds, life insurance, and commodities, where the influence of women is stronger than their male spouse. The influence of a male spouse is stronger in products like real estate, company deposits, debentures or bonds, pension schemes, equity shares and derivatives.

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Section: Educationmentioning

confidence: 99%

The Role of Working Women in Investment Decision Making in the Family In India

Sharma¹,

Kota²

2019

AABFJ

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“…Previous studies have found that debt literacy is lower than generic financial literacy in the same sample [32]. Also, it has been evidenced that borrowing behaviour may be more resistant to formal educational treatments compared to other financial behaviours [109,110]. This may suggest that the acquisition of debt literacy is more difficult compared to the acquisition of more general (more diversified) financial literacy.…”

Section: The Effect Of Parental Financial Socialisation On Young Adulmentioning

confidence: 92%

Sustainable Debt Behaviour and Well-Being of Young Adults: The Role of Parental Financial Socialisation Process

Cwynar

Baryła-Matejczuk

et al. 2019

Sustainability

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Literature shows that parental financial socialisation plays an important role in attaining financial literacy as well as in shaping sustainable financial behaviours and that both translate into increased well-being indicators and financial security on micro- and macroeconomic levels. However, debt literacy and debt behaviour seem to be unique. Very little is known about the childhood financial socialisation process through which adults’ sustainable debt behaviour is shaped and how debt behaviour may affect well-being. This study tests a hierarchical model of childhood financial socialisation consisting of five levels: the anticipatory parental socialisation, and later life financial learning outcomes (particularly, debt literacy levels), financial attitudes, debt behaviour, and well-being. Using data collected from a purposive sample of young adult Poles (N = 600) during the period from 10 to 13 November 2018 and employing structural equation modelling, we have found evidence confirming the hierarchical relationship of literacy–attitude–behaviour. Our data do not support, however, either the hypothesised positive relationship between parental socialisation and objectively measured debt literacy or the assumed relationships between debt behaviour and well-being indicators. We posit that country-specific factors related to generational differences entailed by system-wide transition and the specificity of debt behaviour, respectively, are key for explaining these empirical deviations from the assumed conceptual framework. Finally, we found no significant differences between the models estimated separately for maternally conditioned and paternally conditioned respondents.

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“…The authors Kaiser & Menkhoff (2017) in a meta-analysis of 126 Impact Assessments studies found that financial education has a significant impact on financial behaviour and, to an even greater extent, on financial literacy. Intervening impacts were very heterogeneous: financial education is less effective for low-income clients as well as for low-income and low-income economies.…”

Section: Financial Literacy and Survey Pisamentioning

confidence: 99%

The Importance of Metacognitive Strategies for Building Competitive Business Competencies

Krpálek¹,

Krelová²,

Berkova³

2018

JOC

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The aim of this study is to verify and evaluate experimentally the effect of using activating methods and the related application of metacognitive learning strategies in case studies. The research sample consisted of 220 students, 16-17 years old. The experiment was chosen as the basic research method. The authors' research focuses first on building a case study. This was subsequently verified experimentally in the second research phase, and its effect on the development of higher cognitive dimensions was evaluated. Relevant research tools were developed, including a case study adapted to each age group of students with a focus on relevant educational content and two non-standardized professional tests in the form of a post-test that was uniformly designed for the experimental and control group to determine the range of effects at the level of development of lower and higher-order thinking processes that the implemented methods can produce. The tests took into account the age of students, content and cognitive difficulty. The non-parametric Mann-Whitney u-test was chosen to verify null hypotheses at 5% significance. The results indicate that the application of metacognitive learning strategies at an adequate age and adequate level of cognitive abilities of students are the assumption of financial literacy and entrepreneurship support. Using activating teaching methods through the implementation of the case study method is more successful and effective in the development of higher-order thinking operations than the established traditional methods, which are still nowadays overused by teachers. This means that methods have a significant impact on the development of higher cognitive dimensions, which are the fundamental assumption of a successful career for economists and corporate managers. The development of these competencies strengthens the competitiveness of this profession in the labour market.

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Does Financial Education Impact Financial Literacy and Financial Behavior, and If So, When?

Cited by 232 publications

References 63 publications

The Role of Working Women in Investment Decision Making in the Family In India

The Role of Working Women in Investment Decision Making in the Family In India

Sustainable Debt Behaviour and Well-Being of Young Adults: The Role of Parental Financial Socialisation Process

The Importance of Metacognitive Strategies for Building Competitive Business Competencies

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