Financial capability as a function of financial literacy, financial advice, and financial satisfaction

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F22%3A63545838" target="_blank" >RIV/70883521:28120/22:63545838 - isvavai.cz</a>

Result on the web

<a href="https://dspace.tul.cz/bitstream/handle/15240/163520/EM_1_2022_09.pdf?sequence=1&isAllowed=y" target="_blank" >https://dspace.tul.cz/bitstream/handle/15240/163520/EM_1_2022_09.pdf?sequence=1&isAllowed=y</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.15240/tul/001/2022-1-009" target="_blank" >10.15240/tul/001/2022-1-009</a>

Result language

angličtina

Original language name

Financial capability as a function of financial literacy, financial advice, and financial satisfaction

Original language description

There is no substantial evidence that exists in the literature to establish the link between financial advice and financial capability fully establishes, even though ‘getting help’ is identified as an important aspect of financial capability. This study sets out to fulfil a couple of objectives. Its primary goal is to investigate the effects that a combination of financial literacy elements (financial attitude, financial knowledge, and financial behaviour), financial advice as well as financial satisfaction have on individuals’ financial capability, and secondly, to test and prescribe the improved scale of financial capability measurement. This research has been administered in Spain at an individual level. Hierarchical regression method along with Z-test were used. Regressions’ outcomes reveal that financial constructs positively impact the individuals’ financial capability. From the viewpoint of policymakers, it is vital to fully comprehend the significant factors influencing financial capability to plan better strategies to empower the citizens with adequate skills, abilities, and behaviour so to succeed in dealing with financial matters in daily basis. The originality and value added to the present study is two-fold. Firstly, it comprehensively examines the wide-ranging financial indicators seen as critical in determining financial capability, which remain yet not quite covered in other studies. Second, both indicators used to measure the financial capability revealed no substantial differences, therefore an improved composite scale is prescribed as useful in measuring financial capability in future research.

Czech name

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Czech description

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Type

J_imp - Article in a specialist periodical, which is included in the Web of Science database

CEP classification

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OECD FORD branch

50202 - Applied Economics, Econometrics

Project

—

Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2022

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

E+M. Ekonomie a Management

ISSN

1212-3609

e-ISSN

2336-5064

Volume of the periodical

25

Issue of the periodical within the volume

1

Country of publishing house

CZ - CZECH REPUBLIC

Number of pages

18

Pages from-to

143-160

UT code for WoS article

000782805800008

EID of the result in the Scopus database

2-s2.0-85130236203