Impact of financial literacy on consumer financial behavior: A systematic review and research agenda using TCCM framework

IF 8.6 2区 管理学 Q1 BUSINESS
Pushpa Negi, Anand Jaiswal
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引用次数: 0

Abstract

The primary objective of this study is to investigate the impact of financial literacy on consumer financial behavior through a systematic literature review. While numerous studies have explored this association, there is a lack of a comprehensive analysis that consolidates diverse insights and offers a holistic view. Our study addresses research questions, including the utilization of theoretical frameworks explaining the impact of financial literacy on consumer financial behavior. Also, we explore the diverse contexts encompassing industries, countries, and consumer types, involved in this relationship. We scrutinize the dependent, independent, control, mediating, and moderating variables involved, along with the methodological approaches utilized for assessing the impact. Employing the Theory, Context, Characteristics, and Methodology (TCCM) framework, we systematically analyzed 79 identified papers using the Scientific Procedures and Rationales for Systematic Literature Reviews (SPAR-4-SLR) protocol. The findings highlight the multifaceted factors shaping individuals' financial decisions and behaviors, shedding light on the complex dynamics prevalent across industries, countries, and consumer segments. Our review offers insights into future research directions, advocating the integration of fresh theories and innovative methodologies to enhance existing knowledge. This study significantly contributes to academic understanding and offers valuable guidance for policymakers, businesses, and educators seeking to enhance financial literacy education and shape positive consumer financial behaviors.

金融知识对消费者金融行为的影响:使用 TCCM 框架的系统回顾和研究议程
本研究的主要目的是通过系统的文献综述,研究金融知识对消费者金融行为的影响。虽然已有大量研究探讨了这一关联,但仍缺乏综合各种见解并提供整体观点的全面分析。我们的研究解决了一些研究问题,包括利用理论框架解释金融知识对消费者金融行为的影响。此外,我们还探讨了这一关系所涉及的不同背景,包括行业、国家和消费者类型。我们仔细研究了其中涉及的因变量、自变量、控制变量、中介变量和调节变量,以及用于评估影响的方法论。我们采用理论、背景、特征和方法(TCCM)框架,利用系统文献综述的科学程序和原理(SPAR-4-SLR)协议,对 79 篇已确定的论文进行了系统分析。研究结果强调了影响个人财务决策和行为的多方面因素,揭示了不同行业、国家和消费者群体之间普遍存在的复杂动态。我们的综述对未来的研究方向提出了见解,主张整合新理论和创新方法来增强现有知识。这项研究极大地促进了学术界的理解,并为决策者、企业和教育工作者提供了宝贵的指导,帮助他们加强金融知识教育,塑造积极的消费者金融行为。
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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来源期刊
CiteScore
13.60
自引率
23.20%
发文量
119
期刊介绍: The International Journal of Consumer Studies is a scholarly platform for consumer research, welcoming academic and research papers across all realms of consumer studies. Our publication showcases articles of global interest, presenting cutting-edge research from around the world.
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