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Financial digitization is an irreversible phenomenon. The objective of this study is to construct the Digital Financial Capability Scale (DFCS). Starting with the development of a definition, we created a multidimensional scale composed of digital financial knowledge, digital financial behavior, and digital financial confidence. The validation process involved a qualitative stage, consisting of focus groups, expert validation, and pre-testing, and a quantitative stage, with exploratory and confirmatory factor analyses and structural equation modeling. The DFCS assesses an individual's perception of their ability to apply financial knowledge, adopt appropriate financial behaviors, and feel confident in making financial decisions in a digital environment. The final version of the DFCS consists of a set of 33 items divided into the three dimensions. The scale can be very useful for researchers who wish to study financial capability in the digital environment, for financial agents to evaluate clients, and for assessing the outcomes of public policies aimed at enhancing the financial capability of the population. [ABSTRACT FROM AUTHOR]

This paper investigates the influence of financial knowledge, financial attitude, financial skills, and financial behavior on the financial literacy of Saudi Arabian MSMEs. The sample is 341 MSMEs that are clients of Islamic banking institutions. The paper employs the PLS-SEM method to analyze the collected data. The findings reveal statistically significant and strong positive correlations (p < 0.05) between financial knowledge, financial skills, financial behavior, and financial literacy. This implies that MSMEs with a strong foundation in financial knowledge, proficient skills, and positive financial behaviors tend to exhibit higher levels of financial literacy. Among the variables studied, financial knowledge exerted the strongest influence on financial literacy. This shows the importance of enhancing financial knowledge among MSME owners and managers to improve their overall financial literacy. Interestingly, the study did not identify a statistically significant relationship between financial attitude and financial literacy. This suggests that simply possessing a positive attitude toward finance may not necessarily translate into higher levels of financial literacy without complementary knowledge, skills, and behaviors. By prioritizing these areas, policymakers and Islamic banking institutions can contribute to improving financial literacy levels among Saudi Arabian MSMEs, ultimately fostering their growth, performance, and resilience.

The growing popularity of cryptocurrency as an investment choice among millennials demonstrates their inclination toward digital advancements and openness to exploring diverse investment opportunities. The study examines how financial literacy factors impact experience regret, investment decisions, and risk tolerance, while financial literacy also affects investment decisions, with experience regret and risk tolerance acting as a mediator. The study comprises 295 participants from the millennial demographic in Indonesia who are engaged in cryptocurrency investment. The data collection techniques employed in this study involve non-probability sampling methods through the distribution of questionnaires. The analysis in this study employs Structural Equation Modeling (SEM) in conjunction with Partial Least Squares (PLS) analysis tools. The results of this study suggest that financial literacy positively impacts regret experience, investment decisions, and risk tolerance with the respective sample values of 0.146, 0.397 and 0.449. Additionally, regret experience negatively influences investment decisions with a sample value of –0.385, while risk tolerance positively influences investment decisions with a sample value of 0.198. Financial literacy has a negative impact on investment decisions when regret experience acts as a mediator with a sample value of –0.056, but a positive impact when risk tolerance serves as a mediator with a sample value of 0.089. This complex relationship highlights the importance of considering multiple factors, including financial literacy, regret experience, and risk tolerance, in understanding and predicting investment decisions among individuals, particularly in the context of the millennial generation investing in cryptocurrency in Indonesia.

The financial stability of young adults worldwide is under threat due to widespread impulsive online purchasing and the economic strain brought on by the COVID-19 pandemic. This study, therefore, examines the role of financial literacy as a mediator between financial behavior and the financial well-being of young adults, specifically in Nigeria. The research involved 120 respondents, 60 undergraduate and 60 postgraduate students from three selected universities in Western Nigeria. Information was gathered through a structured questionnaire. Data analysis was conducted using Structured Equation Modeling with STATA version 15. The findings reveal a positive association between financial behavior and financial well-being, although this relationship lacks statistical significance. However, significant positive correlations are observed between financial literacy (FL) and financial well-being (FW), as well as between financial behavior (FB) and financial literacy (FL). Furthermore, the analysis uncovers a positive indirect effect of financial literacy on the relationship between financial behavior and financial well-being. This suggests that while the direct link between financial behavior and well-being may be weak, improved financial behavior can indirectly enhance well-being through heightened financial literacy. In essence, the study underscores the crucial role of financial literacy in improving young adults' financial behaviors and well-being. By investing in education, support services, and policies that encourage positive financial behaviors, both individuals and policymakers can collaborate toward constructing a more financially secure future for the younger generation.

Objective: This study aims to verify assess the level of financial literacy of high school students at public institutions in the Municipality of Ituiutaba (State of Minas Gerais, Brazil). It also aims to analyze how the level of financial literacy relates to socioeconomic and demographic factors. Methodology: Upon probabilistic sampling, a questionnaire was distributed to high school students from different public institutions. Data were analyzed through descriptive statistics, correlation test, normality test, and between-group comparison tests. Results: The findings showed that most students have good financial attitude, but are not financially literate enough. Study contributions: The Results point to the need for actions and/or strategies that contribute to the financial literacy of high school students in the area covered by this study. They also suggest that the curricula should be revised when it comes to subjects directly or indirectly associated with financial literacy. This study is expected to contribute to the entire community, as financially literate people tend to manage money efficiently, both in the personal and family dimensions and in the business setting. [ABSTRACT FROM AUTHOR]

Purpose — The aim of this study is to examine the influence of financial technology, financial literacy, and financial attitudes on the financial behavior of Generation Z within the framework of Society 4.0. Method — This quantitative descriptive research utilizes a questionnaire-based data collection approach distributed online through Google Forms to university students in Sidoarjo. A total of 94 responses were gathered from the questionnaire distribution. Subsequently, to discern the individual impacts, the data from the questionnaire were subjected to analysis employing t-tests and multiple linear regression using SPSS version 2.1. Result — This study reveals that financial technology has an influence on the financial behavior of college students, while financial literacy affects their financial behavior. Additionally, financial attitudes also impact their financial behavior. Practical implications — This study suggests a pressing need for educational institutions to enhance financial education programs, integrating concepts from behavioral finance and emphasizing practical application, to improve students' understanding of financial behavior and decision-making for effective personal financial management. [ABSTRACT FROM AUTHOR]

This study delves into the factors influencing financial well-being among Malaysian university students, addressing the rising debt concerns among young adults under 30. This study is grounded in the Social Cognitive Theory (SCT). Data were gathered from 299 university students through a self-administered survey, which was subsequently analyzed with Partial Least Square - Structural Equation Modelling. The findings indicate that an internal locus of control significantly influences financial attitude, financial behavior, and financial confidence. Notably, financial behavior and financial confidence are crucial predictors of financial well-being, while financial attitude was found to be insignificant. Additionally, financial behavior and financial confidence mediate the relationship between internal locus of control and financial well-being, whereas financial attitude does not serve as a mediator. The results suggest that individuals with a strong internal locus of control are more likely to exhibit positive financial behaviors and greater financial confidence, ultimately enhancing their financial well-being. This study strengthens the SCT model and contributes new dimensions to the literature by examining financial attitude, financial behavior, and financial confidence as mediating factors influencing university students' financial well-being. The results also provide policymakers and relevant agencies with useful information on how to further improve university curricula and foster sound financial practices to raise the financial well-being of university students. [ABSTRACT FROM AUTHOR]

Copyright of Environmental & Social Management Journal / Revista de Gestão Social e Ambiental is the property of Environmental & Social Management Journal and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose: Financial satisfaction is a potential ambition of individuals' lives that requires well-strategized economic behaviors. The authors examine the impact of various factors on the financial behavior (FB) and financial satisfaction (FIS) of individuals in India's National Capital Region (NCR). Design/methodology/approach: Through a literature review, a survey questionnaire was formulated using existing scales on FIS. For more in-depth insights, data are obtained from 427 respondents in the NCR region using self-administered questionnaires. This article used "partial least square structural equation modeling (PLS-SEM)" to inspect the hypothesized model of individuals' FIS. Findings: According to the study results, financial attitude (FA), financial self-efficacy (FSE), financial knowledge (FK) and demographic characteristics (DC) significantly influence FB. Conversely, financial stress (FS) negatively impacts FB. It also highlights that FA, FSE, FK and FB all significantly impact FIS. Nevertheless, FS and DC insignificantly influence FIS. Originality/value: To the best knowledge of the authors, this article is an initial attempt to offer a novel perspective of individuals' FB and FIS in India. It would help the government and stakeholders by providing various pioneering economic schemes and making policies that help increase individuals' FIS. Peer review: The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-03-2023-0239 [ABSTRACT FROM AUTHOR]

Copyright of Jurnal Ilmu Ekonomi Terapan is the property of Universitas Airlangga and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The aim of this paper is to examine the relationship between financial decision-making ability and financial choices, and also to check the mediating role of time perspective in this relationship. Financial decision-making ability is composed of two factors: financial behavior (FB) and financial literacy (FL). Whereas, three financial choices are used, which are: investment, savings, and consumption. Using structural equation modeling (SEM), the sample of 380 participants was used to analyze the results. The findings indicate that both financial literacy and financial behavior significantly increase the investment and choices of individuals, while financial behavior also increase consumption. In addition, study found that different factors of time perspective also mediate the relationship between financial decision-making ability and financial choices. The paper concludes with significant policy implications.

This research was conducted to see the comparative trend of behavioral financial studies in Southeast and East Asian countries. Another aim of this research is to examine the gaps in studying financial behavior in Southeast and East Asian countries. There are several reasons behind this research. First, studying financial behavior in Asian countries has unique characteristics, such as the different financial behavior of urban and rural communities. Second, society still has not fully implemented financial behavior in Asia. The research method used in this research is descriptive qualitative with bibliometric analysis. Data will be collected through the Scopus database, which is processed with R package software. Data processing using R package software will then be analyzed using bibliometric analysis.

This research aims to analyze the impact of digital financial knowledge on college students’ financial behavior, and the involvement of self-esteem as a mediator variable. This study used a quantitative survey method. The sample used was a group of 249 undergraduate students majoring in accounting education at Universitas Sebelas Maret and Universitas Negeri Semarang. A conceptual model, containing hypotheses outlining the impact was constructed and assessed through validity, reliability, frequency statistics and path analysis. The findings indicated a direct and positive correlation of digital financial knowledge on financial behavior. This research contributes fresh perspectives by providing both practical and theoretical insights into the variables employed in the study.

AbstractExploring the financial behavior traits amidst the unexpected financial challenges and the unparalleled rise in fintech, this study provides insight into the interplay of entrepreneur digital financial literacy (EDFL), entrepreneur financial competency (EFC), and entrepreneur financial skill (EFS) impacting entrepreneur financial decision-making (EFDM). Toward this goal, data were gathered from 223 active women entrepreneurs from India who have accounts in the social media platform. The three-step hierarchical regression analysis disclosed that an entrepreneur with sound EDFL, EFS, and EFC can significantly enhance strategic decision-making (EFDM). The research outcome reveals that EFDM is a consistent predictor of the financial performance of women-owned enterprises. In addition, the entrepreneur’s financial decision-making does not mediate the relationship between financial experience, financial competency, financial skill budgeting, and financial skill_acumen with financial performance. In contrast, partial mediation is observed between digital financial awareness, digital financial knowledge, and financial skill_analytics. The novel insight accounted for a significantly low level of experience in entrepreneurs’ utilization of digital platforms for payment, financing loans, and asset management. The outcome carries academic, regulatory, and managerial significance, recognizing the unique interaction; the cumulative efforts strengthen the capacity to address socio-economic challenges and translate them into gender-specific policy interventions and practices.

Introduction/Main Objectives: The number of Indonesian students who study abroad has expanded significantly during the past few decades. Nonetheless, the nation has a lot of variables that would assist in the growth of overseas students leaving the country in the future. Consequently, this study aims to investigate the variables influencing the financial literacy of Indonesian students participating in international exchange programs. This study empirically examines how students' financial behavior could be affected by their financial knowledge, financial attitude, and financial culture. It also tests how financial literacy can be directly influenced by financial behavior. Additionally, the mediating role of financial behavior has been evaluated. Background Problems: Notwithstanding the rise in the number of students enrolled in international programs, and the availability of such programs in educational institutions worldwide, these students will confront numerous obstacles and difficulties. A vital skill for these students to possess is financial literacy, since there is a lot of emphasis on cost-saving when pursuing higher education in a global setting. However, studies into financial literacy are noticeably lacking, particularly in emerging nations such as Indonesia. Novelty: The current paper adds to the limited studies concerning the financial life of international students by developing an integrated framework to examine the most crucial factors impacting the financial literacy of Indonesian students participating in international exchange programs. Research Methods: An online survey was conducted to gather the primary data from the respondents. The acquired data were analyzed using PLS-SEM. Finding/Results: The research findings showed that financial literacy was significantly impacted by financial behavior, which in turn was impacted by financial knowledge, financial attitudes, and financial culture. The relationship between financial knowledge, financial attitudes, financial culture, and financial literacy was found to be significantly mediated by financial behavior. Conclusion: The present work provides theoretical and managerial contributions regarding managing the financial life of international students in Indonesia. [ABSTRACT FROM AUTHOR]

Management technical education improves financial knowledge of students, but its effect on financial behavior is still unclear, especially in adolescents. The paper assessed whether management technical education is associated to propensity to plan of young students. Propensity to plan was estimated by using Generalized Linear Model (binomial distribution and 'logit' as link function) in dataset of 201 students of Federal Institute of Mato Grosso, Mato Grosso state/Brazil. Propensity to plan was 20.7% lower in students of management technical education, showing that financial literacy for adolescents is still needed even in educational programs focused on business administration. [ABSTRACT FROM AUTHOR]

The study aimed to determine the relationship between financial behavior and knowledge. We analysed the financial behavior of workers regarding the payment of credit card debt and its relationship with financial knowledge and sociodemographic variables. A non-probabilistic selfdetermination sample of workers from a corporation with nationwide coverage in Mexico was selected for the study. Three hundred fifty-seven cases were obtained, of which only 188 cases of workers who indicated having a credit card were selected. For the analysis of the data, to verify the relationship between the individual's decision with the independent variables, as well as the probability that an individual i belongs to the category j = 1, 2..., J, was used in the Multinomial Logit Model. The sample was made up of 61 % men (n = 230) and 32.9 % women (n=124), with 6.1 % (n = 23) missing cases. The main findings showed that financial behavior was related to workers' knowledge about the financial conditions of credit and the variables of age and monthly income. Knowing the payment dates was significant in making the necessary payment to avoid generating interest and paying the total debt amount. In addition, it is more likely that the person will make the payment needed for not generating interest if they are over 40 years old, and it is more likely that the person will pay the full amount of the debt if they receive three minimum monthly salaries. [ABSTRACT FROM AUTHOR]

Understanding borrowers' behavior is essential in making lending decisions, strengthening financial inclusion, and alleviating poverty. This research adopts a bibliometric approach to provide an overview of the borrower's behavior relative to the selected literature. Bibliometric analysis quantifies the impact and quality of scientific production. This study reviewed 989 articles obtained from SCOPUS and published from 1987 to 2023. Data were cleaned, formatted, and analyzed using VOS viewer (1.6.19) and the R-Bibliometrix package. The research established an increased interest in borrowers' behavior among scholars. Nonetheless, it is overshadowed by studies in lending behavior, microfinance, banking, peer-to-peer lending, and fintech. The scholarly focus is mainly on the supply side of the credit industry with little regard to demand-side dynamics, such as borrowers' decision-making processes, which can affect the performance of credit facilities. This study recommends that further studies on credit facility demand-side dynamics should be carried out to understand the drivers of borrowers' decisions. [ABSTRACT FROM AUTHOR]

Copyright of Serbian Journal of Management is the property of Serbian Journal of Management and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The ability to manage money has been identified as a vital talent. In this context, financial literacy has a role to play. There are significant gaps, though, such as the financial connection to human behavior. The purpose of this study is to look at the overall effects of financial literacy (FL) on the behavioural aspects of materialism (ML), compulsive buying (CB), and tendency to debt (TD). It attempts to develop and evaluate a model that is based on these variables and to examine the relationships between these research constructs. The study looked at 233 respondents mainly students studying in Omani universities.A comprehensive literature review, confirmatory factorial analysis, Structural Equation Modelling (SEM), and comprehensive analysis were used to develop research hypotheses. The primary findings suggested that financial literacy had the most significant impact on compulsive purchasing behaviour in comparison to materialism and the propensity to accumulate debt, among the direct relationships that were suggested. The study's findings have important implications for the formulation of public policy and other interested parties, as financial literacy is advantageous for individuals with poor financial health and facilitates the participation in other psychological behaviours.

Financial literacy also influences an individual's perception of investment risk. Individuals with high levels of financial literacy tend to understand better the risks associated with various types of investments and can manage these risks effectively. This research aims to determine how individuals' financial literacy levels influence investment decisions, understand the relationship between individual financial behavior and the investment decisions they make, and ascertain how financial literacy contributes to the formation of more disciplined and planned investment behavior. The method used in this research is the descriptive qualitative method. The findings of this research indicate that efforts to improve financial literacy in society must be accompanied by a holistic approach that considers various aspects influencing individual investment behavior.

Abstract The study examines the effect of digital financial literacy on financial behavior which is proxied by spending and saving behavior. In particular, this study investigates the role of gender differences in the dependency relationship between digital financial literacy on financial behavior. The population was undergraduate students of the Faculty of Economics, Sriwijaya University, Indonesia. We employed the snowball sampling method and obtained 136 respondents as samples. Ordinary Least Square and Pairwise Comparisons were used to test the hypotheses. The results show that digital financial literacy has a positive and significant effect on spending behavior and saving behavior, respectively. Moreover, there is a difference between men and women in the effect of digital financial literacy on spending behavior. Nevertheless, it is found that there is no difference between men and women in the effect of digital financial literacy on saving behavior. Keywords:Digital Financial Literacy, Spending Behavior, Saving Behavior, Financial Behavior, Gender, Millennials

This study aims to determine the effect of the big five personality traits on financial risk tolerance and investment decision. The context of this research occurs for investors in Indonesia during the covid-19 pandemic period. The approach taken in this study is to use a quantitative approach method by distributing questionnaires to respondents who have become investors in Indonesia. Five independent variables measure a person's personality: extraversion, openness to experience, conscientiousness, and emotional instability, and two dependent variables are financial risk tolerance and investment decision. The results of this study prove that Personality traits extraversion, Intellect, and conscientiousness positively affect the level of financial risk tolerance. While personality traits of agreeableness and emotional instability negatively and significantly affect investors' financial risk tolerance levels. This research also provides results that financial risk tolerance positively affects investment decisions. This research has contributed to developing investor behavior theory which has yet to be widely carried out in Indonesia. The research shows that the big five personality impacts an investor's financial risk tolerance. Finally, this will have an impact on the investment decisions that an investor will make.

The research aims to study the financial behavior of students from the Babeș-Bolyai University in the municipality of Cluj-Napoca and the factors that, according to the literature, are contributors to its formation and positive modeling. Several factors were studied using a quantitative paradigm: family financial socialization, the level of financial self-control, and exposure to financial education. The overall picture of the financial behavior of the students who took part in the research (Babeș-Bolyai University students filling a self-administered questionnaire) illustrates a relatively healthy financial behavior.

The purpose of the article. This paper attempts to reveal the effect of the study by visually presenting the analysis of the studies on the concept of "financial literacy". Methodology. Bibliometric analysis of the studies published in the Web of Science (WOS) database between 1991 and 2023 was analyzed with the VOSviewer (Version 1.6.9) package program. Since the title, content, and keyword of the concept of "financial literacy" were intended to be scanned in all languages and all publication types, 2,889 works were accessed and analyzed. The limitations of the study are that only the studies in WOS are analyzed. No data from Scopus and PubMed databases has been included. For future studies, research from the Scopus and PubMed databases should be added. Results of the research. When the most frequently included keywords in the publications related to the concept of "financial literacy" have a relationship between them at least twice in the study, the keywords "financial literacy" with 825 repetitions in terms of 1841 total connection strength, "financial education" with 111 repetitions in terms of 315 total connection strength, "financial behavior" with 65 repetitions in terms of 217 total connection strength and "financial knowledge" with 71 repetitions in terms of 213 total connection power are seen. As a result of the analysis performed, it was determined that there were 2265 connection powers and 4069 total connection powers for a total of 36 clusters. When we look at the year-by-year distribution, the most works were published in 2022 with a maximum of 426 works. At least one work was published in 2004, 2003, 1998, 1994 and 1991. Among the published studies, journal article 2,515, proceedings paper 280, early access 135, book chapters 101, review article 68, editorial material 29, correction 6, book 5, book review 3 were determined as works. When we look at the languages in which the published works are published, they are in English with a maximum of 2,814 works. At least two works are in French and Chinese. In order to determine the year-based stratification status of the published studies for country-based citations, it was noted that a country should have at least 1 study published and at least 1 citation obtained. As a result of the analysis, analysis was carried out on 78 observation units that were found to have a relationship between them, and it was determined that there were 14 clusters, 1065 connection power and 9417 total connection power. The countries with the most citations are the USA (11981 citations), the Netherlands (2445 citations) and England (1685 citations). In terms of the number of works, the ranking is the USA (197 publications), China (77 publications), India (73 publications), and Australia (70 publications). When the stratification status of the citation ties of the countries on a yearly basis is examined, it is seen that they are limited between 2017 and 2021.

This study discusses the influence of Islamic financial literacy, locus of control and religiosity on student financial management in the digital era. The respondents in this study were Febi students of Raden Mas Said State Islamic University Surakarta with a total of 177 respondents. The data collection process is carried out by disseminating questions and answers using primary quantitative methods through questionnaires. This study used multiple linear regression analysis method. This study concluded that there is a positive and significant influence between sharia financial literacy on financial management, there is a positive and significant influence between locus of control on financial management and no influence on religiosity on student financial management. Based on the results of the research conducted, the R Square value was obtained at 0.244 or 24.4%. While the remaining 75.6% was influenced by other variables that were not examined in this study. These findings can certainly be part of the reference for students in financial management in the digital era. The conclusion is that Islamic financial literacy and locus of control can influence student financial management in the digital era. Meanwhile, religiosity cannot influence student financial management in the digital era.

The development of technology and information provides convenience and many choices in making financial decisions. Many new and diverse financial products require people to have a better understanding of the process of using them. This is supported by financial literacy and an understanding of managing finances to avoid bad financial decisions. Technology adoption also leads to a rigorous lifestyle that makes them use digital services as a quick and useful tool for their activities. This study aims to examine the role of digital finance, financial literacy, and lifestyle on student’s financial behavior. This study used descriptive and verification method with a quantitative approach. The primary data was collected through questionnaires from student respondents in Bandung, West Java, Indonesia. The results of this study indicate that partially the use of digital finance has a insignificant effect on financial behaviour, but financial literacy and lifestyle has a positive significant effect on financial behaviour. Simultaneously digital finance, financial literacy, and lifestyle have a significant effect on students’ financial behavior. The study showed that the use of digital finance is only for transaction benefit not for behavioral change. It is expected to create awareness of their investment products and develop their application into more secure products in changing financial behavior.

The objective of this study is to investigate the impact of financial literacy and financial attitudes on consumptive behavior, with financial behavior acting as a mediating factor among residents of Sidoarjo, Indonesia. The research was conducted using a quantitative approach, and data collection was done through a questionnaire administered via Google Form. The study included a sample of 96 respondents, determined using the Lemeshow formula due to the unknown population size. The data was analyzed using the SmartPLS-3 software, applying the structural equation modeling (SEM) technique. The findings of this study reveal several significant outcomes. Firstly, financial literacy is found to have a direct significant influence on both consumptive behavior and financial behavior. Secondly, financial attitudes also have a direct significant impact on consumptive behavior and financial behavior. However, it is observed that financial behavior does not have a significant effect on consumptive behavior. Furthermore, the study concludes that financial behavior does not act as a mediating factor in the relationship between financial literacy and financial attitudes on consumer behavior. Overall, this research contributes to the existing knowledge by providing insights into the interplay between the discussed variables.

This research aims to analyze the financial behavior of Indonesian citizens in online shopping with a focus on average spending and the factors that influence it. The research method used is secondary data analysis from the 2023 Internet Penetration and Behavior Survey report presented by the Indonesian Internet Service Providers Association (APJII). The findings of this research indicate that the majority of respondents (77.02%) spent less than IDR 500 thousand in online transactions, while factors such as consumer preferences, transaction security, the influence of digital advertising, and the availability of payment methods also influence online shopping behavior. The research conclusion shows that even though online transactions are growing, there are still several consumers who are not actively using e-commerce services. Therefore, strategic recommendations involve e-commerce business players, payment service providers, and the government to increase e-commerce penetration, improve transaction security, and optimize digital marketing to expand the consumer base. [ABSTRACT FROM AUTHOR]

Copyright of GeSec: Revista de Gestao e Secretariado is the property of Sindicato das Secretarias e Secretarios do Estado de Sao Paulo (SINSESP) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The purpose of the article. This paper attempts to reveal the effect of the study by visually presenting the analysis of the studies on the concept of "financial literacy". Methodology. Bibliometric analysis of the studies published in the Web of Science (WOS) database between 1991 and 2023 was analyzed with the VOSviewer (Version 1.6.9) package program. Since the title, content, and keyword of the concept of "financial literacy" were intended to be scanned in all languages and all publication types, 2,889 works were accessed and analyzed. The limitations of the study are that only the studies in WOS are analyzed. No data from Scopus and PubMed databases has been included. For future studies, research from the Scopus and PubMed databases should be added. Results of the research. When the most frequently included keywords in the publications related to the concept of "financial literacy" have a relationship between them at least twice in the study, the keywords "financial literacy" with 825 repetitions in terms of 1841 total connection strength, "financial education" with 111 repetitions in terms of 315 total connection strength, "financial behavior" with 65 repetitions in terms of 217 total connection strength and "financial knowledge" with 71 repetitions in terms of 213 total connection power are seen. As a result of the analysis performed, it was determined that there were 2265 connection powers and 4069 total connection powers for a total of 36 clusters. When we look at the year-by-year distribution, the most works were published in 2022 with a maximum of 426 works. At least one work was published in 2004, 2003, 1998, 1994 and 1991. Among the published studies, journal article 2,515, proceedings paper 280, early access 135, book chapters 101, review article 68, editorial material 29, correction 6, book 5, book review 3 were determined as works. When we look at the languages in which the published works are published, they are in English with a maximum of 2,814 works. At least two works are in French and Chinese. In order to determine the year-based stratification status of the published studies for country-based citations, it was noted that a country should have at least 1 study published and at least 1 citation obtained. As a result of the analysis, analysis was carried out on 78 observation units that were found to have a relationship between them, and it was determined that there were 14 clusters, 1065 connection power and 9417 total connection power. The countries with the most citations are the USA (11981 citations), the Netherlands (2445 citations) and England (1685 citations). In terms of the number of works, the ranking is the USA (197 publications), China (77 publications), India (73 publications), and Australia (70 publications). When the stratification status of the citation ties of the countries on a yearly basis is examined, it is seen that they are limited between 2017 and 2021. [ABSTRACT FROM AUTHOR]

The importance of financial literacy as a source of information for making financial decisions has been acknowledged, but little research has been done on how it affects SMEs' attitudes about taking risks. In order to examine the financial literacy and risk-taking behavior of small and medium-sized firms in Ekiti State, Nigeria, the research created an integrated model from a knowledge-based viewpoint. A survey research design was used for this study with a multi-stage sampling procedure. The study analyzed the primary data collected from the questionnaire. 154 managers and owners of SMEs in Ado-Ekiti, Ekiti State, made up the sample. According to the results of multiple regression, financial behavior, knowledge, and attitude all have a positive and substantial impact on how risk-averse small and medium-sized businesses in Ekiti State, Nigeria, are about taking risks. The study's findings revealed that a high level of financial management literacy has a critical and significant influence on enhancing the entrepreneur's risk-taking attitude, which leads to the growth of small businesses. [ABSTRACT FROM AUTHOR]

Copyright of GeSec: Revista de Gestao e Secretariado is the property of Sindicato das Secretarias e Secretarios do Estado de Sao Paulo (SINSESP) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The COVID-19 pandemic introduced unprecedented challenges for households globally, serving as a precursor to and trigger for financial stress. This study examined the associations across various factors thought to be associated with financial stress (a psychological syndrome) resulting from the COVID-19 pandemic. Using survey data collected in 2019 (n = 997) and 2021 (n = 988), propensity score matching and hierarchical linear modeling were employed to identify the association between financial stress and the pandemic. Results indicated that financial stress increased during the COVID-19 pandemic. Three covariate groups, including financial characteristics, health status, and socio-demographic characteristics, were found to be associated with financial stress levels. The primary contribution of this paper lies in offering a comprehensive understanding of how the dynamics of financial stress evolve with shifting macroeconomic events. This paper serves as a framework to employ a comprehensive financial stress measure and matched samples at various data points. Findings from this study contribute to the existing literature on financial well-being, financial stress, and societal outcomes associated with global health events while providing implications for policy and practice. [ABSTRACT FROM AUTHOR]

Introduction/Main Objectives: The number of Indonesian students who study abroad has expanded significantly during the past few decades. Nonetheless, the nation has a lot of variables that would assist in the growth of overseas students leaving the country in the future. Consequently, this study aims to investigate the variables influencing the financial literacy of Indonesian students participating in international exchange programs. This study empirically examines how students' financial behavior could be affected by their financial knowledge, financial attitude, and financial culture. It also tests how financial literacy can be directly influenced by financial behavior. Additionally, the mediating role of financial behavior has been evaluated. Background Problems: Notwithstanding the rise in the number of students enrolled in international programs, and the availability of such programs in educational institutions worldwide, these students will confront numerous obstacles and difficulties. A vital skill for these students to possess is financial literacy, since there is a lot of emphasis on cost-saving when pursuing higher education in a global setting. However, studies into financial literacy are noticeably lacking, particularly in emerging nations such as Indonesia. Novelty: The current paper adds to the limited studies concerning the financial life of international students by developing an integrated framework to examine the most crucial factors impacting the financial literacy of Indonesian students participating in international exchange programs. Research Methods: An online survey was conducted to gather the primary data from the respondents. The acquired data were analyzed using PLS-SEM. Finding/Results: The research findings showed that financial literacy was significantly impacted by financial behavior, which in turn was impacted by financial knowledge, financial attitudes, and financial culture. The relationship between financial knowledge, financial attitudes, financial culture, and financial literacy was found to be significantly mediated by financial behavior. Conclusion: The present work provides theoretical and managerial contributions regarding managing the financial life of international students in Indonesia.

This study aims to examine the personal finance characteristics of mobile banking and mobile payment users in the United States. To achieve this goal, we used the 2018 National Financial Capability Study, which surveyed over 27,000 American adults regarding their personal financial standing and behaviors. By using ordinary least squares models, our results indicated that the use of mobile banking and mobile payment technology was associated with lower age, Non-White Ethnicity, higher income, higher debt load, debt types (auto, student, credit card, and predatory), and spending more than one’s income. These results reveal that the higher one’s income, financial liabilities, and spending are, the more they may value the convenience of mobile banking and payments.

This study aims to provide empirical evidence of millennials' investment behaviors, considering their risk profiles as a moderating factor. It also explores the financial literacy and behaviors of millennials. Predictions from the Central Bureau of Statistics (Badan Pusat Statistik/BPS) suggest that millennials will form the majority in Indonesia's demographic structure, thereby shaping the country's future. The study involved 168 millennials, recruited through convenience sampling, with data collection occurring in June-July 2021. The data was analyzed using exploratory factor analysis and a structural equation model, revealing that financial literacy and behavior significantly and positively impact investing; however, while risk profile moderation affects financial literacy, it does not moderate financial behavior. The study faced limitations, including a sample size of 168 respondents—barely meeting the minimum requirements for SEM analysis—and the geographic limitation of respondents being from Palembang city. Future studies are recommended to explore a broader region with a larger sample size to enhance understanding of the moderating effect of risk profiles in financial planning.

Purpose — The aim of this study is to examine the influence of financial technology, financial literacy, and financial attitudes on the financial behavior of Generation Z within the framework of Society 4.0. Method — This quantitative descriptive research utilizes a questionnaire-based data collection approach distributed online through Google Forms to university students in Sidoarjo. A total of 94 responses were gathered from the questionnaire distribution. Subsequently, to discern the individual impacts, the data from the questionnaire were subjected to analysis employing t-tests and multiple linear regression using SPSS version 2.1. Result — This study reveals that financial technology has an influence on the financial behavior of college students, while financial literacy affects their financial behavior. Additionally, financial attitudes also impact their financial behavior. Practical implications — This study suggests a pressing need for educational institutions to enhance financial education programs, integrating concepts from behavioral finance and emphasizing practical application, to improve students' understanding of financial behavior and decision-making for effective personal financial management.

The aim of this study is to investigate the factors influencing the financial well-being of Bank Jatim employees in Indonesia. These factors encompass financial knowledge, financial socialization, internal locus of control, lifestyle, and current financial stress. Additionally, the study delves into the role of financial behavior as a mediator in this model of financial well-being. The respondents in this study are permanent employees of Bank Jatim, Indonesia, selected through purposive sampling. The findings reveal that financial knowledge, financial socialization, and current financial stress directly impact financial well-being. Internal locus of control affects financial well-being both directly and indirectly, mediated by financial behavior. However, financial behavior doesn't serve as a mediator for the influence of lifestyle on the financial well-being of bank employees. Furthermore, the results do not provide sufficient evidence for financial behavior mediating the effects of other determinant variables. For the company, this implies that enhancing the financial well-being of bank employees should involve efforts to augment their financial knowledge, promote financial socialization, and encourage a composed approach to managing their financial situations. As for bank employees, achieving financial well-being necessitates maintaining an internal locus of control and exhibiting prudent financial management behaviors.

The study investigates the financial behavior of Ukrainians residing in Ukraine and Poland, aiming to identify patterns for the development of customized financial literacy programs. Additionally, it assesses Ukrainians’ preparedness, within their behavioral patterns, for global crises leading to financial shocks. During January-February 2022, a survey method was used to collect data from randomly chosen two groups of representatives of Ukrainians in Poland (N1 = 280) and Ukraine (N2 = 341). Data were proceeded with SPSS. Common patterns were revealed for both Ukraine and Poland, which are based on traditions and personal beliefs: disciplined cash flows controlling of personal budget and forming reserves for different types of crises; concentration on short-term plans and avoiding long-term ones; lack of trust to financial institutions for saving money. Among distinguished patterns are the following: In Poland, Ukrainians are more responsible and attentive to consumer loans, regularly receive and pay bills. In Poland, the investment portfolio of Ukrainians has a more diverse set of instruments. Online financial services are preferable in Poland. The study helps to identify if financially Ukrainians were ready to resist the russian war in Ukraine. Almost 30% of Ukrainians in Ukraine and 25% in Poland had only reserve for the period 1-3 months. In both countries, they claim they are ready to cover sources of covering unforeseen expenses from their reserves (more than 50% of respondents). AcknowledgmentsThe authors would like to express their gratitude to the Kirkland Scholarship Program, the Leaders of Change Foundation, the Polish American Freedom Foundation, the University of Wroclaw and personally to Marek Wróblewski, Professor at the University of Wroclaw, Associate of Ukrainian banks, and to those who helped to disseminate information about the survey, including the Foundation Ukraine, as well as to the respondents and all those who expressed interest in the results.

The article presents the empirical study results of the financial culture of the Hungarian population, which was conducted in the form of the target audience survey through the website of the Money Compass Foundation during 2015-2022. The task of the study was to create a data set that would help to investigate the basis of financial behavior and make it possible to assess its qualitative features typical for different age groups. The Likert scale was used for data processing in the questionnaires. The selection of judgments for the scale was carried out in the process of a pilot study, for which an initial list of uncontroversial, simple in wording, unambiguous for perception statements was created. Cronbach's alpha coefficient was used to measure the internal consistency of questionnaire items. Free and anonymous online surveys, designed for adults, high school students and children, examine the financial behavior patterns of different age groups of respondents, their causes and consequences of these behaviors. This study presents the results of a survey of almost 50,000 respondents, which have been collected and processed since 2015. The components and development of financial personality in each age group were investigated by means of statistical analysis of answers. The study enables understanding of financial habits, attitudes, most specific problems and strategies to overcome these problems among Hungarians (youth, children and adults), reveals aspects of financial personality and helps map out those groups whose training and education in the field of personal finance is particularly important. The questionnaires developed by the authors help build the concept of financial personality, while offering survey participants ways to improve their financial culture and develop decision-making abilities. In the light of the obtained data, a seven-year state strategy to increase people's financial awareness was launched in Hungary, and economic education became a mandatory component of the national basic curriculum. Numerous educational organizations have used the results of the research when developing their training courses. The current goal of the research group is the wider internationalization of the questionnaire, which has so far been distributed only in Hungary, and translated into English and Ukrainian.

This study set out to ascertain how dividend policy, profitability, and debt policy affected corporate value. In addition to determining if company size can strengthen the impact of profitability, debt policy, and dividend policy on firm value. The study's research methodology was moderate regression analysis (MRA). Theoretically, this approach is suitable for investigating the influence variable after including a moderating component. The novelty aspect of this analysis is the inclusion of firm size as a moderating variable, which is thought to strengthen or decrease the relationship between dividend policy, profitability, and debt policy and firm value. The findings of this study demonstrate how profitability and dividend policy impact corporate value. Next, the impact of dividend policy on firm value is moderated by the size of the company. However, the impact of profitability on firm value is unaffected by the size of the company.

This study analyses financial education and its impact on the behavior of young people in Kosovo during their financial planning. It also provides a theoretical overview of financial education, financial planning, and financial experiences. The study was conducted using quantitative methods, with primary data collected through an online questionnaire. The statistical tests used are MANOVA, ANOVA, Paired T-Test, the Chi-square test for goodnessof-fit, and factorial and reliability analysis. We find that the level of education has a positive effect on money management and the creation of a personal financial plan; employment status and sources of income have an essential impact on controlling the financial situation; financial experience has a positive effect on making personal financial decisions. All empirical analyses are original and based on the authors’ calculations through econometric models and other research methods. We highlight the importance of financial education in schools.

This paper examines the relationship between family stressors and subsequent financial behavior of young individuals in Croatia. Previous research indicates that family stressors are associated with increased levels of financial stress, resulting in impulsive purchases, risky financial behavior, and increased debt. More specifically, family stressors during youth are shown to significantly affect an individual's financial behavior later in life. Research has shown that youth family stressors, such as poverty, parental divorce, and parental unemployment, can lead to financial stress and affect financial behavior in adulthood. This paper provides an illustrative review of the Family Stress Model (FSM) framework to understand how family stressors influence youngsters in the financial domain. Using regression modeling, we estimate that family stress significantly impacts the financial behavior of young individuals in Croatia. Specifically, the study finds that family stress is negatively associated with responsible financial behavior. These findings have important implications for policymakers and practitioners, particularly those involved in financial education and family support programs, highlighting the need to address family stress as a potential risk factor for poor financial outcomes among young individuals. It is important to recognize the relationship between youth family stressors and financial behavior and work on managing both to improve financial well-being in adulthood.

The main objective of this paper is to evaluate the financial risk tolerance of personnel in the various security services in Ghana (i.e., people who serve in the various public security divisions, including the military, immigration, police, customs, firefighting, and prisons). In particular, we examine the predictors and outcomes of financial risk tolerance and further assess whether financial risk tolerance mediates the relationship between the predictor variables and financial behavior. A partial least square structural equation modeling analysis of data collected from a cross-section of security service personnel revealed that financial threat, trust, and deliberative thinking significantly influence financial risk tolerance. We also found that financial risk tolerance is a strong predictor of financial behavior. In addition, financial risk tolerance mediates the relationship between financial threat and trust and financial behavior. The findings in this study are relevant to the leaders of the security services in developing strategies to ensure the financial security of the personnel.

The importance of financial literacy as a source of information for making financial decisions has been acknowledged, but little research has been done on how it affects SMEs' attitudes about taking risks. In order to examine the financial literacy and risk-taking behavior of small and medium-sized firms in Ekiti State, Nigeria, the research created an integrated model from a knowledge-based viewpoint. A survey research design was used for this study with a multi-stage sampling procedure. The study analyzed the primary data collected from the questionnaire. 154 managers and owners of SMEs in Ado-Ekiti, Ekiti State, made up the sample. According to the results of multiple regression, financial behavior, knowledge, and attitude all have a positive and substantial impact on how risk-averse small and medium-sized businesses in Ekiti State, Nigeria, are about taking risks. The study's findings revealed that a high level of financial management literacy has a critical and significant influence on enhancing the entrepreneur's risk-taking attitude, which leads to the growth of small businesses.

The purpose of the article is theoretical and methodological substantiation of the state and post-war prospects of financial inclusion in Ukraine, taking into account the experience of EU countries. The objectives of the study are as follows: to theoretically substantiate the content and features of financial inclusion, taking into account the experience of EU countries; to assess the current state of financial inclusion; and to outline post-war prospects for the development of financial inclusion in Ukraine. It is argued that the key parameters of financial inclusion are financial well-being, financial behaviour, financial knowledge, and the utilization of financial products, as well as physical access to financial services. Drawing on the experience of EU countries, it is substantiated that creating conditions for free access to financial services for all categories of the population and businesses, as well as their digitalization, contribute to the growth of citizens' income, the simplification of investment mechanisms, and thus the economic development of the country. An assessment of the state of financial inclusion in Ukraine is conducted through online surveys of various categories of citizens. It is determined that Ukrainians feel a strong need for additional sources of income, and the financial situation of the majority of them is extremely unstable. Based on the results of correlation-regression analysis, the priorities of financial inclusion are identified as the level of financial literacy and competency among the population. This will enable them to budget their income and expenses, promote the transformation of savings into investments, and have a positive impact on the post-war recovery of the country's economy.

AbstractEntrepreneurship has been viewed as a catalyst for economic growth because it creates jobs and offers solutions to social issues. The government is trying to make entrepreneurship popularized among the public, especially in students in universities. This analysis aims to ascertain how financial behavior and literacy, particularly among accounting students who are the sample of this study at West Java universities, affect entrepreneurial motivation. In addition, this research also examined the level of financial literacy and the level of financial behavior in accounting students in West Java, Indonesia. This research employs a quantitative approach and the data were collected using a survey questionnaire. Partial Least Square Structural Equation Modelling (PLS-SEM) method were used to analyze data of 252 respondents of accounting students from universities in West Java, Indonesia. The study discovered a significant positive association between financial literacy and accounting students’ financial behavior and their willingness to start their own business. The research also assessed the degree of financial literacy and financial behavior among participants who achieved a relatively strong overall outcome, along with the level of drive for entrepreneurship among respondents with a similarly elevated average performance. This research contributes to educators and educational institutions that it is very important to design an integrated educational curriculum to strengthen the entrepreneurial motivation of accounting students who are the sample of this study at West Java universities in Indonesia.