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Please use this identifier to cite or link to this item: http://repository.iitr.ac.in/handle/123456789/9350
Title: An investigation of the demographic factors affecting financial literacy and its components among urban Indians
Authors: Bawre S.
Kar, Sujata
Published in: International Journal of Education Economics and Development
Abstract: The purpose of this paper is to investigate the impact of socio-demographic factors on financial literacy and its components, namely, financial behaviour, financial attitude and financial numeracy skills. Also, the relationships between the components of financial literacy and the influence of financial numeracy skill on investment pattern are examined. The data showed that financial literacy in terms of familiarity with financial instruments and participation in formal financial system is quite reasonable at 65% among the participants. Socio-demographic variables like gender, age, education, income, and reliability of income are found to have significant influence on financial literacy. Further, all the components of financial literacy are found to impact each other positively. The findings also suggest that financial numeracy skill may improve overall financial literacy and secondary market participation in India. However, the use of financial websites or social media sites for investment decisions is meagre. Copyright © 2019 Inderscience Enterprises Ltd.
Citation: International Journal of Education Economics and Development (2019), 10(4): 398-426
URI: https://doi.org/10.1504/IJEED.2019.102749
http://repository.iitr.ac.in/handle/123456789/9350
Issue Date: 2019
Publisher: Inderscience Publishers
Keywords: Financial attitude
Financial behaviour
Financial literacy
Financial numeracy
Multinomial logit model
Socio-demographic factors
ISSN: 17595673
Author Scopus IDs: 57211270785
57081884700
Author Affiliations: Bawre, S., Department of Management Studies, Indian Institute of Technology, Roorkee, Uttarakhand, India
Kar, S., Department of Management Studies, Indian Institute of Technology, Roorkee, Uttarakhand, India
Corresponding Author: Bawre, S.; Department of Management Studies, Indian Institute of TechnologyIndia; email: sh21.snehal@gmail.com
Appears in Collections:Journal Publications [MS]

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