Factors affecting knowledge about the adult guardianship and civil trust systems: evidence from Japan

Kadoya, Yoshihiko; Khan, Mostafa Saidur Rahim; Oba, Hikaru; Narumoto, Jin

doi:10.1080/08952841.2020.1727711

Cited by 14 publications

(15 citation statements)

References 18 publications

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“…There are two main variables of interest in our study: financial literacy and financial education. We measured financial literacy using Lusardi and Mitchell’s [ 63 ] methodology, which is simple and widely adopted in the existing literature (e.g., [ 48 , 53 , 64 , 65 , 66 , 67 , 68 , 69 , 70 , 71 ]). Moreover, Nicolini and Haupt [ 72 ] found that the Lusardi–Mitchell measurement of financial literacy performs well unless financial literacy is used to explain financial behavior.…”

Section: Methodsmentioning

confidence: 99%

Do Financial Literacy and Financial Education Influence Smoking Behavior in the United States?

Khan

Putthinun

Watanapongvanich

et al. 2021

IJERPH

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Smoking is still a serious economic, health, and social problem despite various efforts to curb its prevalence. We examined the influence of financial literacy and financial education on the smoking behavior in the United States in terms of the use of rational decision-making abilities to reduce irrational behavior. We hypothesized that financial literacy and financial education, as proxies for rational decision making, would reduce the likelihood of smoking. We used data from the Preference Parameters Study (PPS) of Osaka University conducted in the United States in 2010 and applied probit regression models to test our hypothesis on a sample of 3831 individuals. We found that financially literate people are less likely to be smokers, though we found no clear role of financial education in reducing the likelihood of smoking. Further, respondents’ gender, age, unemployment status, and risky health behaviors such as drinking and gambling, have a significantly positive association with smoking, while marital status, university degree, family size, household income, household assets, physical exercise, and level of happiness have a significantly negative association. Our findings suggest that financial literacy, as an instrument encouraging rational decision making, could be a tool to help reduce smoking in the United States.

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Section: Methodsmentioning

confidence: 99%

Do Financial Literacy and Financial Education Influence Smoking Behavior in the United States?

Khan

Putthinun

Watanapongvanich

et al. 2021

IJERPH

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“…There are two main variables of interest in our study: financial literacy and financial education. To measure financial literacy, we followed Lusardi and Mitchell’s ( 2008 ) methodology, which is simple and widely adopted in existing literature (e.g., Fornero and Monticone 2011 ; Lusardi and Mitchell 2011 , 2014 ; Kadoya and Khan 2019 ; Kadoya et al 2018 , 2020 ; Klapper and Panos 2011 ; Sekita 2011 ), and used the following three questions. Suppose you had ¥10,000 in a savings account and the interest rate is 2% per year and you never withdraw money or receive interest payments.…”

Section: Methodsmentioning

confidence: 99%

Financial Literacy and Gambling Behavior: Evidence from Japan

et al. 2020

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According to a survey by Japan's Ministry of Health, Labor, and Welfare in 2017, 3.6% of Japanese adults-equivalent to about 3.2 million people-have suffered from problem gambling at some point in their lifetime. This study examines the relationship between financial literacy, financial education, and gambling behavior (measured as gambling frequency) among the Japanese population. We hypothesize that financially literate and financially educated people who use their knowledge to make sound financial decisions are less likely to gamble. The data used in this study are from a nationwide survey in Japan from the Preference Parameters Study of Osaka University in 2010 (n = 3687). To control for endogeneity bias between financial literacy and gambling behavior, we use the education of respondents' fathers as an instrumental variable. The results from the probit-instrumental variable model show that financial literacy has a significantly negative relationship with gambling frequency, while financial education has no significant relationship with gambling frequency. Our findings suggest that problem gambling may be mitigated by promoting financial literacy, but no such conclusion can be drawn for financial education.

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“…These questions measure a respondent's knowledge of compound interest, inflation, and risk diversification. Studies such as [22][23][24]34,[48][49][50][51][52][53][54][55] adopted these three questions, which are as follows:…”

Section: Variablesmentioning

confidence: 99%

Financial Literacy and Exercise Behavior: Evidence from Japan

et al. 2021

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Lack of exercise, which increases the risk of many serious physical and mental illness, has been a common health issue in Japan. Recent studies confirm that financial literacy discourages irrational behavior like gambling and smoking. We therefore investigate how financial literacy, as a rational decision-making instrument, relates to peoples’ exercise behavior in Japan. We hypothesize that financial literacy encourages people to exercise regularly. Using Osaka University’s Preference Parameters Study (PPS) for 2010, we categorized respondents into two groups: those who exercise regularly or at least once a week and those who do not. Our probit estimation results show that financial literacy is positively related with exercise behavior, meaning that financially literate people are more likely to exercise regularly. As the COVID-19 health pandemic seems to exacerbate peoples’ physical inactivity, the results of our study show an alternative approach to encourage exercise. We therefore recommend that governments implement a financial literacy improvement policy to alleviate the lack of exercise.

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Factors affecting knowledge about the adult guardianship and civil trust systems: evidence from Japan

Cited by 14 publications

References 18 publications

Do Financial Literacy and Financial Education Influence Smoking Behavior in the United States?

Do Financial Literacy and Financial Education Influence Smoking Behavior in the United States?

Financial Literacy and Gambling Behavior: Evidence from Japan

Financial Literacy and Exercise Behavior: Evidence from Japan

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