Hong Kong investors' experience with structured financial products : financial literacy, learning, and social networks

2010 ◽  
Author(s):  
Miao Zhang
Keyword(s):  
Social Networks ◽  
Hong Kong ◽  
Financial Literacy ◽  
Literacy Learning ◽  
Financial Products ◽  
Structured Financial Products

scholarly journals Financial Literacy and Sustainable Consumer Behavior

2021 ◽  
Author(s):  
Ester Muñoz-Céspedes ◽  
Raquel Ibar-Alonso ◽  
Sara Lorenzo-Ros
Keyword(s):  
Social Networks ◽  
Financial Literacy ◽  
Sustainable Consumption ◽  
Sustainable Society ◽  
Review Of Literature ◽  
International Consensus ◽  
Academic Literature ◽  
Financial Products ◽  
Sustainable Behavior ◽  
Definition Of

A more sustainable society and economy also implies a more sustainable behavior in the consumption of financial products. A possible change in focus can come from the demand side, so that more sustainable consumption of financial products have to go hand to hand with financial literacy. However, financial literacy, potential favoring of this sustainable behavior, is far from reaching an international consensus about its definition, object and scope. Two objectives are analyzed; the different interpretations of financial literacy in the academic literature, as well as its evolution and how, in what context and with what other concepts the term is used in social networks. Scientometric techniques and content analysis have been used to carry out a systematic review of literature and also NLP to analyze the comments on Social Networks. Critical moments are identified in the definition of financial literacy. Also ten sentiments are analyzed in social networks in wich positivity, trust, and anticipation predominate. Greater attention to this issue is necessary both from the private initiative and from public policies, so that financial literacy is an effective tool for a more sustainable behavior by consumers. Finally, a new definition is proposed based on our findings.

scholarly journals Financial Literacy and Sustainable Consumer Behavior

2021 ◽  
Vol 13 (16) ◽  
pp. 9145
Author(s):  
Ester Muñoz-Céspedes ◽  
Raquel Ibar-Alonso ◽  
Sara de Lorenzo Ros
Keyword(s):  
Social Networks ◽  
Financial Literacy ◽  
Sustainable Consumption ◽  
Sustainable Society ◽  
Review Of The Literature ◽  
Academic Literature ◽  
Financial Products ◽  
Private And Public ◽  
Sustainable Behavior ◽  
Definition Of

A more sustainable society and economy also implies more sustainable behavior in terms of the consumption of financial products. A possible change in this behavior can be brought about when there is a change in the demand. In other words, more sustainable consumption of financial products is directly related to financial literacy. However, the latter’s definition, object, and scope are far from being agreed upon internationally. One objective of this work was to explore the different interpretations of financial literacy in academic literature. In this exploration we delved into the evolution of the term, and how, in what context, and with what other concepts the term is used in social networks. Scientometric techniques were used for the analysis and review of the literature. The NLP technique was used to analyze comments on social networks. With this technique, ten feelings that were specially selected were analyzed. Positivity, confidence, and anticipation predominated among them. We conclude that it is important to emphasize that greater attention must be given to financial literacy, from both private and public sectors, so that it can be used to drive more sustainable behavior by individual consumers. Finally, a new definition of financial literacy is proposed.

Was sind Schwachstellen und Alternativen finanzieller Bildung?

2021 ◽  
Vol 90 (1) ◽  
pp. 107-124
Author(s):  
Andreas Oehler ◽  
Matthias Horn
Keyword(s):  
Financial Literacy ◽  
Consumer Information ◽  
Quality Information ◽  
High Quality ◽  
Critical View ◽  
Financial Products ◽  
Private Households ◽  
Life Long Learning ◽  
Rules Of Thumb ◽  
High Quality Information

Zusammenfassung: Der Beitrag analysiert sowohl Schwachstellen als auch darauf aufbauend Handlungsempfehlungen und Lösungsvorschläge im Bereich der finanziellen Bildung von privaten Haushalten. Die Analyse der Schwachstellen umfasst eine kritische Sicht auf die Methodik zur Einschätzung finanzieller Bildung, die Beurteilung der finanziellen Bildung insbesondere junger Erwachsener, den Maßnahmenkatalog zur Verbesserung finanzieller Bildung und die Verbraucherinformationen, die sowohl als Voraussetzung für die Anwendung finanzieller Bildung als auch als Grundlage für eine Verbesserung der finanziellen Bildung im Kontext eines lebenslangen Lernens eine zentrale Rolle einnehmen. Zentrale Lösungsvorschläge zielen auf eine praxisnahe Meta-Bildung, die auf ein ökonomisches Grundverständnis, wenige Faustregeln und die relevantesten finanziellen Entscheidungen im Lebenszyklus ausgelegt ist, und ein gesetzlich vorgeschriebener Zugang zu relevanten und hochwertigen Informationen, um die Vergleichbarkeit von Produkten und Dienstleistungen im Bereich der Verbraucherfinanzen für private Haushalte und Informationslotsen deutlich zu verbessern und ein lebenslanges, praxisnahes Lernen zu ermöglichen. Summary: This article analyses weaknesses in the field of private households’ financial literacy and – building upon this – provides recommendations and solutions. The analysis of the weaknesses covers a critical view on the methodology used to measure financial literacy, the assessment of the financial literacy of young adults, the package of measures for the enhancement of financial literacy and consumer information, which play a central role as precondition for the application of financial literacy and as basis for the enhancement of financial literacy through life-long learning. Main recommendations and solutions are to establish a meta-literacy that is built on understanding basic economic principles, few rules of thumb, and the most relevant decisions in the life cycle. Moreover, a statutory access for households to relevant and high-quality information to significantly enhance the comparability of financial products and services for consumers and to enable a life-long learning in step with actual practice.

Struggling to make ends meet: can consumer financial behaviors improve?

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Lisa K. Meneau ◽  
Janakiraman Moorthy
Keyword(s):  
Financial Literacy ◽  
Financial Management ◽  
Group Analysis ◽  
Self Control ◽  
Thinking Styles ◽  
Financial Health ◽  
Content Type ◽  
Financial Behaviors ◽  
Financial Products ◽  
The Impact

PurposeThe purpose of the study is to examine the following two research objectives. The first was to examine the predictive relationships that consumer characteristics of financial literacy, thinking styles and self-control have with a consumer's financial behaviors. The second goal was to ascertain financial management products' ability to aid those consumers who need it the most by weakening the predictive effects of consumer traits on financial behaviors.Design/methodology/approachThe study employed a web-based survey to gather information. The measurement and structural models were analyzed using generalized structured component analysis (GSCA), a component-based structural equation model. The mediation effect of self-control is assessed using the GSCA. The conditional mediation of demographic variables and use of personal financial management products are evaluated using multi-group analysis (MGA) in GSCA.FindingsAntecedents, financial literacy, thinking styles and self-control consumer characteristics are predictors of financial behaviors. However, self-control plays a more prominent role as a mediator between the other variables, strengthening the overall relationship. Also, financial products can have a beneficial moderation effect assisting those consumers who need them the most.Practical implicationsThese insights help in creating target specific financial literacy strategies to influence consumers' financial behaviors. Also, there is a need to develop mechanisms to influence a consumer's self-control and thinking styles to improve financial behavior. In conjunction with other initiatives, the impact of financial literacy has a greater effect on financial behaviors. Further, the insights assist financial institutions and financial technology firms in offering and creating products to help customers make better financial decisions and improve their financial behaviors.Social implicationsThe research addressed a significant global issue – consumer financial health. The Great Recession and the COVID-19 recession highlight the need to focus on the consumer and efforts to improve their financial health.Originality/valueThis research highlighted the mediating role of self-control and suggested that existing and future financial products can positively influence consumer behavior drivers.

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