Financial Literacy of University Students

• Tipo: Artigo em Livro de Atas de Conferência Internacional
• Data: 2012

Autores

Rodrigues, C (Autor) Outra; Vieira, F (Autor) Outra; Amaral, A (Autor) Outra; Francisco Vitorino Martins (Autor) FEP

Ata de Conferência Internacional

Título: PROCEEDINGS OF THE 7TH EUROPEAN CONFERENCE ON INNOVATION AND ENTREPRENEURSHIP, VOLS 1 AND 2

Páginas: 572-580

7th European Conference on Innovation and Entrepreneurship (ECIE)

PORTUGAL, SEP 20-21, 2012

Indexação

ISI Web of Knowledge - 0 Citações

Outras Informações

ID Authenticus: P-005-KA6

Abstract (EN): The current financial crisis highlights real problems profoundly related to the level of financial knowledge. Some studies suggest that many individuals, including small business owners, do not have adequate financial skills to be able to handle their finances. The term "financial literacy" summarizes the set of knowledge, skills and attitudes necessary to enable recognition and understanding of the foundations of personal finance. Informed and literate individuals are able to make responsible decisions. Our paper presents the preliminary results obtained with the Portuguese StudentFinance2012 survey. A total of 612 university students from seven different institutions agreed to participate and complete the survey. The sample has an average age of 23.67 years and is gender balanced. Students were classified in three course areas such as engineering, business and management, or design and tourism. Most respondents frequent a degree course, being the university mostly a public institution. A majority of our students has solely funded by their parents or family. By analyzing the total amount of financial products, we obtained an average of 2.57 financial products by student. To analyze financial literacy, our study developed measures such students' financial involvement, financial knowledge and parents influence and explore it as a function to issues such as age, gender, course area, course type, type of university and parental funding. The results suggest that the financial involvement of students evolves over time (as age increases, the financial involvement also increases) and confirm significant dependence with demographic variables such as gender, age, or course, among others. For the financial knowledge the results are encouraging, with students to show interesting levels of knowledge. We also identified relations of dependence with age, gender and course, among many others. Parental influence was analyzed by the level of agreement with statements related to the perceptions of the influence and behavior of parents about money, budgeting, saving and paying bills. The main results indicate that parents are a positive influence and that studentsare experiencing a financial behaviour that integrates the family.

Idioma: Inglês

Tipo (Avaliação Docente): Científica

Nº de páginas: 9