1. Gender Differences in Financial Literacy Among Hong Kong Workers.
- Author
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Yu, Kar-Ming, Wu, AlfredM., Chan, Wai-Sum, and Chou, Kee-Lee
- Subjects
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CHI-squared test , *INTELLECT , *MULTIVARIATE analysis , *RESEARCH funding , *SEX distribution , *T-test (Statistics) , *INFORMATION literacy , *FINANCIAL management , *SOCIOECONOMIC factors - Abstract
Using a phone survey conducted in 2012, we examined whether there is a gender difference in financial literacy among Hong Kong workers; and if such a difference exists, whether it can be explained by gender differences in sociodemographic variables, social or psychological factors, and/or the outcomes of retirement planning. Results show a gender gap in financial literacy as well as age, spousal support for retirement savings, risk tolerance, computational ability, and perceived financial knowledge. Multivariate data analyses show that a proportion of the gender difference in financial literacy could be explained by gender differences in risk tolerance, computational ability, and self-reported financial knowledge; but the difference remained after adjusting for variables found to be associated with gender. Our findings suggest that it may be important to develop programs targeted specifically to women. [ABSTRACT FROM AUTHOR]
- Published
- 2015
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