Financial Literacy of University Students and Effects of Practical Experience

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F02819180%3A_____%2F18%3A%230000121" target="_blank" >RIV/02819180:_____/18:#0000121 - isvavai.cz</a>

Výsledek na webu

<a href="http://www.ocerints.org/socioint18_e-publication/abstracts/papers/34.pdf" target="_blank" >http://www.ocerints.org/socioint18_e-publication/abstracts/papers/34.pdf</a>

DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Financial Literacy of University Students and Effects of Practical Experience

Popis výsledku v původním jazyce

Financial literacy belongs to the key components of education for life in modern society, its importance increasing steadily. In this article, we present the results of comparative research on financial literacy undertaken among part-time and full-time university students. The aim of the paper is to compare the levels of their financial literacy, verifying the assumption that everyday practical experience of the former group has a positive effect. To obtain reliable data, the research was conducted in the form of a questionnaire survey administered simultaneously at universities in two central European countries, both running management study programmes. In the first part of the questionnaire, the respondents' personal, self-assessment and socio-demographic data were examined. The second part was devoted to the knowledge and skills associated with various facets of financial literacy, using the questions on the ability to apply the acquired knowledge in specific practical situations. We focused on compound interest, inflation effect on the time value of money, annuity policies, debt repayments and basics of investing. In order to confirm the hypothesis about the impact of day-to-day practical experience on the overall level of financial literacy, the collected data were processed employing methods of statistical analysis. Having identified differences in respondents’ average scores and their attitude to personal and self-assessment features, the present study has revealed some significant findings.

Název v anglickém jazyce

Financial Literacy of University Students and Effects of Practical Experience

Popis výsledku anglicky

Financial literacy belongs to the key components of education for life in modern society, its importance increasing steadily. In this article, we present the results of comparative research on financial literacy undertaken among part-time and full-time university students. The aim of the paper is to compare the levels of their financial literacy, verifying the assumption that everyday practical experience of the former group has a positive effect. To obtain reliable data, the research was conducted in the form of a questionnaire survey administered simultaneously at universities in two central European countries, both running management study programmes. In the first part of the questionnaire, the respondents' personal, self-assessment and socio-demographic data were examined. The second part was devoted to the knowledge and skills associated with various facets of financial literacy, using the questions on the ability to apply the acquired knowledge in specific practical situations. We focused on compound interest, inflation effect on the time value of money, annuity policies, debt repayments and basics of investing. In order to confirm the hypothesis about the impact of day-to-day practical experience on the overall level of financial literacy, the collected data were processed employing methods of statistical analysis. Having identified differences in respondents’ average scores and their attitude to personal and self-assessment features, the present study has revealed some significant findings.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50206 - Finance

Projekt

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Návaznosti

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Rok uplatnění

2018

Kód důvěrnosti údajů

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

Název statě ve sborníku

Socioint 2018: 5th International Conference on Education, Social Sciences and Humanities

ISBN

9786058243330

ISSN

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e-ISSN

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Počet stran výsledku

10

Strana od-do

17-26

Název nakladatele

International Organization Center of Academic Research

Místo vydání

2018

Místo konání akce

Dubai

Datum konání akce

2. 7. 2018

Typ akce podle státní příslušnosti

WRD - Celosvětová akce

Kód UT WoS článku

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