This study investigates how financial literacy and behavioral traits affect the adoption of electronic payment(ePayment)services in Japan.We construct a financial literacy index using a representative sample of 25,000...This study investigates how financial literacy and behavioral traits affect the adoption of electronic payment(ePayment)services in Japan.We construct a financial literacy index using a representative sample of 25,000 individuals from the Bank of Japan’s 2019 Financial Literacy Survey.We then analyze the relationship between this index and the extensive and intensive usage of two types of payment services:electronic money(e-money)and mobile payment apps.Using an instrumental variable approach,we find that higher financial literacy is positively associated with a higher likelihood of adopting ePayment services.The empirical results suggest that individuals with higher financial literacy use payment services more frequently.We also find that risk-averse people are less likely to adopt and use ePayment services,whereas people with herd behavior tend to adopt and use ePayment services more.Our empirical results also suggest that the effects of financial literacy on the adoption and use of ePayment differ among people with different behavioral traits.展开更多
Previous literature showed mixed results about the impact of CEOs’financial literacy(CFL)on small and medium-sized enterprises’(SMEs)innovation.This relationship can be motivated by relevant variables,which are miss...Previous literature showed mixed results about the impact of CEOs’financial literacy(CFL)on small and medium-sized enterprises’(SMEs)innovation.This relationship can be motivated by relevant variables,which are missing in the previous literature and make a difference as mediators.In this sense,based on the theoretical framework related to upper echelon theory and resource-based view,this study focuses on the mediating effect of risk-taking attitude and management control systems(MCS)varia-bles.Empirical data from 310 SMEs gathered using a qualitative research questionnaire are analyzed using structural equation modeling methodology.Specifically,estimations are carried out considering the partial least square method.Findings show that MCS and managers’risk attitudes fully mediate the relationship between financial literacy(FL)and innovation.Between these two mediating variables,the implementation of MCS stands out because it also enables the mediating effect of CEOs’risk-taking in the CFL–technological innovation relationship.As the results do not support the significant direct relationship between FL and risk attitude,they confirm an indirect effect through MCS.Furthermore,based on the study findings,SMEs’directors and owners,business associations,and public authorities can improve SMEs’technological innovation by implementing training programs and policies to foster CFL.They can also acknowledge the interdependency between organizational factors and individual characteristics to enhance SMEs’technological innovation.展开更多
As an important factor affecting the accumulation of children s human capital,family parenting style is of great significance to the future development of filial generation.Based on China s social reality,the study in...As an important factor affecting the accumulation of children s human capital,family parenting style is of great significance to the future development of filial generation.Based on China s social reality,the study investigated the influence of family financial conditions on the choice of family parenting style by using the data of CEPS2013-2014.The results showed that the improvement of family financial conditions significantly increased the intensity of the parenting style chosen by the family,and parents would have higher requirements for their children s daily study and life.Moreover,such impact varied among different classes and regions.展开更多
Based on the data from Chinese Family Panel Studies(CFPS),this study uses the Tobit model to empirically analyze the influence of financial literacy on family cultural consumption.This study found that the average fin...Based on the data from Chinese Family Panel Studies(CFPS),this study uses the Tobit model to empirically analyze the influence of financial literacy on family cultural consumption.This study found that the average financial literacy level of Chinese residents is still relatively low.The improvement of their financial literacy would help enhance the household cultural consumption expenditure.From this study,it is recommended that there should be an improvement in the cultural consumption of Chinese families and their quality of life by targeting financial education,raising the income level of residents,and stimulating the residents’cultural consumption willingness.展开更多
Inclusive finance is a core concept of finance that makes various financial products and services accessible and affordable to all individuals and businesses,especially those excluded from the formal financial system....Inclusive finance is a core concept of finance that makes various financial products and services accessible and affordable to all individuals and businesses,especially those excluded from the formal financial system.One of the leading forces affecting people’s ability to access financial services in rural areas is financial literacy.This study investigated the impacts of financial knowledge on financial access through banking,microfinance,and fintech access using the Bangladesh rural population data.We employed three econometrics models:logistic regression,probit regression,and complementary log–log regression to examine whether financial literacy significantly affects removing the barriers that prevent people from participating and using financial services to improve their lives.The empirical findings showed that knowledge regarding various financial services factors had significant impacts on getting financial access.Some variables such as profession,income level,knowledge regarding depositing and withdrawing money,and knowledge regarding interest rate highly affected the overall access to finance.The study’s results provide valuable recommendations for the policymaker to improve financial inclusion in the developing country context.A comprehensive and long-term education program should be delivered broadly to the rural population to make a big stride in financial inclusion,a key driver of poverty reduction and prosperity boosting.展开更多
The development of Internet finance has made the financial environment faced by college students more complicated.The level of financial literacy best reflects a person's sensitivity to the financial environment a...The development of Internet finance has made the financial environment faced by college students more complicated.The level of financial literacy best reflects a person's sensitivity to the financial environment and flexibility to respond to financial events.Therefore,to improve the financial literacy of college students,popularizing financial knowledge is bound to become the key content of general education and teaching work in contemporary colleges and universities.In this article,taking 400 undergraduates from Yangtze University as the research object,the participation in online lending and the mastery of financial knowledge were investigated and analyzed,then the current teaching situation of financial literacy courses was introduced,and finally,a number of suggestions to improve the teaching reform of financial literacy were put forward.展开更多
The direct effect of access to finance on the growth of Small and Medium Enterprises(SMEs)run by entrepreneurs is well studied.However,there is limited understanding on the difference in the rate of entrepreneurship g...The direct effect of access to finance on the growth of Small and Medium Enterprises(SMEs)run by entrepreneurs is well studied.However,there is limited understanding on the difference in the rate of entrepreneurship growth across a nation.Further,the empirical findings relating to the financial literacy of entrepreneurs significantly differ across different geographic communities.Thus,the purpose of this study is to examine the impact of financial literacy on the relationship between access to finance and the business growth of the SME Sector in the Northern Province of Sri Lanka in the post-civil war context,as SMEs promote resilience of communities to recover from adversities such as civil war.The Indebtedness of Northern Province has suddenly increased,as there is a sharp growth evident in the average debt per family in the post-civil war context.Thus,demonstrating the lack of proper financial literacy and the discipline required to be financially stable,is a crucial benchmark for a successful business.According to the model of ambidextrous management in entrepreneurial growth companies,entrepreneurship is process where the entrepreneurial orientation turns into implementation and thereby leads to the business growth.However,the effect of access to finance to the entrepreneurs and the impact of financial literacy of the entrepreneur on this relationship are not examined.Thus,this study incorporates the effect of access to finance and the moderating effect of financial literacy to the existing model.It was evident from this study that,access to finance has a direct impact on the growth of the SMEs in the Northern Province of Sri Lanka.The result also reflects that the financial literacy and ability to make the financial decisions influence access to finance,resulting in business growth.展开更多
Using microdata from the China Household Financial Survey Project(CHFS 2015),a negative binomial model is used to study the impact of social capital and financial literacy on the lending behavior of farmers with diffe...Using microdata from the China Household Financial Survey Project(CHFS 2015),a negative binomial model is used to study the impact of social capital and financial literacy on the lending behavior of farmers with different incomes.The study found that the positive impact of social capital on the formal borrowing behavior of low-and middle-income farmers was significant,while the impact on informal borrowing behavior and both types of borrowing behavior of highincome farmers were not significant.Financial literacy has a significant positive effect on formal lending behavior only for high-income farmers.Financial literacy has a significant positive effect on formal lending behavior only for high-income farmers.展开更多
基金National Foundation for Science and Technology Development(No.502.01-2020.308).
文摘This study investigates how financial literacy and behavioral traits affect the adoption of electronic payment(ePayment)services in Japan.We construct a financial literacy index using a representative sample of 25,000 individuals from the Bank of Japan’s 2019 Financial Literacy Survey.We then analyze the relationship between this index and the extensive and intensive usage of two types of payment services:electronic money(e-money)and mobile payment apps.Using an instrumental variable approach,we find that higher financial literacy is positively associated with a higher likelihood of adopting ePayment services.The empirical results suggest that individuals with higher financial literacy use payment services more frequently.We also find that risk-averse people are less likely to adopt and use ePayment services,whereas people with herd behavior tend to adopt and use ePayment services more.Our empirical results also suggest that the effects of financial literacy on the adoption and use of ePayment differ among people with different behavioral traits.
文摘Previous literature showed mixed results about the impact of CEOs’financial literacy(CFL)on small and medium-sized enterprises’(SMEs)innovation.This relationship can be motivated by relevant variables,which are missing in the previous literature and make a difference as mediators.In this sense,based on the theoretical framework related to upper echelon theory and resource-based view,this study focuses on the mediating effect of risk-taking attitude and management control systems(MCS)varia-bles.Empirical data from 310 SMEs gathered using a qualitative research questionnaire are analyzed using structural equation modeling methodology.Specifically,estimations are carried out considering the partial least square method.Findings show that MCS and managers’risk attitudes fully mediate the relationship between financial literacy(FL)and innovation.Between these two mediating variables,the implementation of MCS stands out because it also enables the mediating effect of CEOs’risk-taking in the CFL–technological innovation relationship.As the results do not support the significant direct relationship between FL and risk attitude,they confirm an indirect effect through MCS.Furthermore,based on the study findings,SMEs’directors and owners,business associations,and public authorities can improve SMEs’technological innovation by implementing training programs and policies to foster CFL.They can also acknowledge the interdependency between organizational factors and individual characteristics to enhance SMEs’technological innovation.
文摘As an important factor affecting the accumulation of children s human capital,family parenting style is of great significance to the future development of filial generation.Based on China s social reality,the study investigated the influence of family financial conditions on the choice of family parenting style by using the data of CEPS2013-2014.The results showed that the improvement of family financial conditions significantly increased the intensity of the parenting style chosen by the family,and parents would have higher requirements for their children s daily study and life.Moreover,such impact varied among different classes and regions.
文摘Based on the data from Chinese Family Panel Studies(CFPS),this study uses the Tobit model to empirically analyze the influence of financial literacy on family cultural consumption.This study found that the average financial literacy level of Chinese residents is still relatively low.The improvement of their financial literacy would help enhance the household cultural consumption expenditure.From this study,it is recommended that there should be an improvement in the cultural consumption of Chinese families and their quality of life by targeting financial education,raising the income level of residents,and stimulating the residents’cultural consumption willingness.
文摘Inclusive finance is a core concept of finance that makes various financial products and services accessible and affordable to all individuals and businesses,especially those excluded from the formal financial system.One of the leading forces affecting people’s ability to access financial services in rural areas is financial literacy.This study investigated the impacts of financial knowledge on financial access through banking,microfinance,and fintech access using the Bangladesh rural population data.We employed three econometrics models:logistic regression,probit regression,and complementary log–log regression to examine whether financial literacy significantly affects removing the barriers that prevent people from participating and using financial services to improve their lives.The empirical findings showed that knowledge regarding various financial services factors had significant impacts on getting financial access.Some variables such as profession,income level,knowledge regarding depositing and withdrawing money,and knowledge regarding interest rate highly affected the overall access to finance.The study’s results provide valuable recommendations for the policymaker to improve financial inclusion in the developing country context.A comprehensive and long-term education program should be delivered broadly to the rural population to make a big stride in financial inclusion,a key driver of poverty reduction and prosperity boosting.
基金Special Project for Teacher Development of Yangtze University(B201801)Innovation and Entrepreneurship Training Program for Undergraduates of Yangtze University(2019236).
文摘The development of Internet finance has made the financial environment faced by college students more complicated.The level of financial literacy best reflects a person's sensitivity to the financial environment and flexibility to respond to financial events.Therefore,to improve the financial literacy of college students,popularizing financial knowledge is bound to become the key content of general education and teaching work in contemporary colleges and universities.In this article,taking 400 undergraduates from Yangtze University as the research object,the participation in online lending and the mastery of financial knowledge were investigated and analyzed,then the current teaching situation of financial literacy courses was introduced,and finally,a number of suggestions to improve the teaching reform of financial literacy were put forward.
文摘The direct effect of access to finance on the growth of Small and Medium Enterprises(SMEs)run by entrepreneurs is well studied.However,there is limited understanding on the difference in the rate of entrepreneurship growth across a nation.Further,the empirical findings relating to the financial literacy of entrepreneurs significantly differ across different geographic communities.Thus,the purpose of this study is to examine the impact of financial literacy on the relationship between access to finance and the business growth of the SME Sector in the Northern Province of Sri Lanka in the post-civil war context,as SMEs promote resilience of communities to recover from adversities such as civil war.The Indebtedness of Northern Province has suddenly increased,as there is a sharp growth evident in the average debt per family in the post-civil war context.Thus,demonstrating the lack of proper financial literacy and the discipline required to be financially stable,is a crucial benchmark for a successful business.According to the model of ambidextrous management in entrepreneurial growth companies,entrepreneurship is process where the entrepreneurial orientation turns into implementation and thereby leads to the business growth.However,the effect of access to finance to the entrepreneurs and the impact of financial literacy of the entrepreneur on this relationship are not examined.Thus,this study incorporates the effect of access to finance and the moderating effect of financial literacy to the existing model.It was evident from this study that,access to finance has a direct impact on the growth of the SMEs in the Northern Province of Sri Lanka.The result also reflects that the financial literacy and ability to make the financial decisions influence access to finance,resulting in business growth.
文摘Using microdata from the China Household Financial Survey Project(CHFS 2015),a negative binomial model is used to study the impact of social capital and financial literacy on the lending behavior of farmers with different incomes.The study found that the positive impact of social capital on the formal borrowing behavior of low-and middle-income farmers was significant,while the impact on informal borrowing behavior and both types of borrowing behavior of highincome farmers were not significant.Financial literacy has a significant positive effect on formal lending behavior only for high-income farmers.Financial literacy has a significant positive effect on formal lending behavior only for high-income farmers.
