Consumer Financial Education and Risky Financial Asset Holding in China

Social pensions and risky financial asset holding in China

Applied Economics ◽

10.1080/00036846.2021.2009758 ◽

2021 ◽

pp. 1-14

Author(s):

Qing Xu ◽

Wanglin Ma ◽

Fang Wang ◽

Qing Yang ◽

Jin Liu

Keyword(s):

Financial Asset ◽

Asset Holding

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Cutting Through the Fog: Financial Literacy and Financial Investment Choices

Journal of the European Economic Association ◽

10.1093/jeea/jvz081 ◽

2020 ◽

Author(s):

Marco Nieddu ◽

Lorenzo Pandolfi

Keyword(s):

Financial Literacy ◽

Ambiguity Aversion ◽

Financial Education ◽

Certainty Equivalent ◽

Financial Asset ◽

Negative Effects ◽

Coin Toss ◽

Financial Investment ◽

Average Value ◽

The Impact

Abstract This paper examines the impact of financial literacy on the individual propensity to invest in financial assets. In a laboratory experiment with a two-by-two design, we study how the certainty equivalent of a risky lottery changes when varying the lottery framing and the participants’ financial literacy level. We find that presenting the lottery as a financial asset—whose payoffs need to be computed from a given return rate—rather than as a simple coin toss reduces the average value participants assign to the lottery by approximately 20% and lowers their understanding of the lottery’s structure. Enhancing financial literacy by explaining the basic financial concepts involved in the description of the financial-asset lottery, offsets the negative effects of the financial framing: it improves respondents’ understanding of the lottery and increases the certainty equivalent. Our results—which can be rationalized by ambiguity aversion—shed new light on the linkages between financial literacy and financial investment behavior. Additionally, they highlight the importance of promoting financial education to stimulate households’ financial market participation.

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The Determinants of the Wealth and Asset Holding in Nineteenth-Century Canada: Evidence from Microdata

The Journal of Economic History ◽

10.1017/s0022050700019586 ◽

1997 ◽

Vol 57 (4) ◽

pp. 907-934 ◽

Cited By ~ 20

Author(s):

Livio Di Matteo

Keyword(s):

Nineteenth Century ◽

Occupational Status ◽

Late Nineteenth Century ◽

Financial Asset ◽

Asset Accumulation ◽

Data Set ◽

Number Of Children ◽

Region Of Residence ◽

Asset Holding ◽

Late Nineteenth

Wealth and asset holding in late-nineteenth-century Ontario are examined using a new data set of census-linked probated decedents. Hump-shaped wealth-age profiles are found, supporting the importance of demographic and life cycle forces in late-nineteenth-century financial asset accumulation. With financial asset holding more pronounced in Ontario than Quebec, the implication for Canadian economic development is that the differences in capital formation and industrialization across Ontario and Quebec are partly rooted in saving behavior. The results show that urbanization, occupational status, literacy, the number of children, and region of residence are important determinants of wealth and asset holding.

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Effect of increased uncertainty on financial asset holding

International Journal of Accounting and Economics Studies ◽

10.14419/ijaes.v2i2.2873 ◽

2014 ◽

Vol 2 (2) ◽

Author(s):

Albert Frimpong

Keyword(s):

Financial Asset ◽

Asset Holding

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Relative risk aversion once more: An analysis of Japanese households' financial asset holding pattern

Financial Engineering and the Japanese Markets ◽

10.1007/bf02425194 ◽

1994 ◽

Vol 1 (2) ◽

pp. 137-154 ◽

Cited By ~ 1

Author(s):

Seki Asano ◽

Toshiaki Tachibanaki

Keyword(s):

Relative Risk ◽

Risk Aversion ◽

Financial Asset ◽

Relative Risk Aversion ◽

Asset Holding

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COMPUTER MODELING OF FINANCIAL CALCULATIONS

Informatics and Education ◽

10.32517/0234-0453-2019-34-4-33-37 ◽

2019 ◽

pp. 33-37

Author(s):

O. S. Korneva

Keyword(s):

Computer Modeling ◽

Professional Education ◽

Information Technologies ◽

Financial Education ◽

Economic Education ◽

Economic Activities ◽

School Teachers ◽

University Teachers ◽

Educational Literature ◽

Higher Professional Education

Within the implementation of the national strategy for improving financial competency and financial education in Russia, aimed at the broad masses of the population, any experience in promoting financial competency among young people, accumulated in the system of training bachelors of Economics, will be useful. The purpose of the article is to present the methodological and practical aspects of teaching the basics of financial calculations of future economists and the formation of computer modeling skills in the field of financial and economic activity. The reason for writing the article was the problem of interdisciplinary integration in the system of financial and economic education. The analysis of educational literature and curricula of the system of secondary and higher professional education, as well as the study and generalization of pedagogical experience showed weak integration of mathematical and economic disciplines with information technologies. The article also presents the problems associated with the calculations in the financial and economic activities with the use of computer modeling. The elements of the presented methods of teaching the basics of financial computing in conjunction with the modeling of financial problems on the computer can be useful for both school teachers and university teachers of mathematics and computer science.

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