Determinants of digital financial literacy from students’ perspective

Mohd Fairuz Adnan, N. Rahim, Norli Ali
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Abstract

In Malaysia, there has been an increase in bankruptcy cases among the younger generation, indicating poor money management among youths. The Coronavirus Disease 2019 (COVID–19) outbreak has exacerbated this emerging financial issue since financial transactions are now more accessible through the growth of online digital financial products and services (DFS) (Mansour, 2022). Therefore, it is crucial that the younger generation is financially literate from the digital perspective — digital financial literacy (DFL). This study identified factors that may affect one’s DFL that have not been previously explored in the financial literacy literature. In a survey that involved 183 Malaysian university students, determinants of DFL were identified, namely: financial knowledge score (FKS), programme or study level (PL), gender, age, as well as parental influence (PRI), peer influence (PEI), and social media influence (SMI). The data were analysed using partial least squares (PLS) modelling. The structural model analysis revealed that FKS and SMI positively impacted DFL, highlighting the importance of social media for financial education. Age had an insignificantly negative effect on DFL, contradicting earlier studies that used age as a proxy for financial experience. This research outcome adds to the existing and growing literature on DFL, which has lately gained prominence due to the proliferation of DFS.
从学生的角度看数字金融素养的决定因素
在马来西亚,年轻一代的破产案例有所增加,这表明年轻人的理财能力较差。2019冠状病毒病(COVID-19)的爆发加剧了这一新出现的金融问题,因为通过在线数字金融产品和服务(DFS)的增长,金融交易现在更容易获得(Mansour, 2022)。因此,至关重要的是,年轻一代从数字的角度进行财务知识-数字金融素养(DFL)。本研究确定了可能影响个人财务素养的因素,这些因素以前在财务素养文献中没有被探讨过。在一项涉及183名马来西亚大学生的调查中,确定了DFL的决定因素,即:金融知识得分(FKS),课程或学习水平(PL),性别,年龄,以及父母影响(PRI),同伴影响(PEI)和社交媒体影响(SMI)。使用偏最小二乘(PLS)模型对数据进行分析。结构模型分析显示,FKS和SMI正向影响DFL,突出了社交媒体对金融教育的重要性。年龄对DFL有不显著的负面影响,这与早期使用年龄作为财务经验代理的研究相矛盾。这一研究结果增加了现有的和越来越多的关于DFL的文献,最近由于DFS的扩散而得到重视。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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