The Effects Of Financial Education And Networks On Business Students Financial Literacy

This study investigates the joint effects of financial education and educational networks on students financial literacy. With a sample (N = 105) of senior students in a business college, the study finds that not only financial education, but also strong networks with professors, are positively rela...

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Bibliographic Details
Published inAmerican journal of business education Vol. 7; no. 3; pp. 229 - 236
Main Authors Chung, Yunhyung, Park, Youngkyun
Format Journal Article
LanguageEnglish
Published Littleton The Clute Institute 30.06.2014
Clute Institute
Subjects
Behavior Change
Business education
College faculty
College Seniors
College students
Colleges & universities
Consumer Education
Correlation
Decision making
Financial literacy
Interpersonal Relationship
Knowledge Level
Literacy
Literature Reviews
Money Management
Network Analysis
Regression (Statistics)
Social Networks
Student Surveys
Studies
United States (Northwest)
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Summary:This study investigates the joint effects of financial education and educational networks on students financial literacy. With a sample (N = 105) of senior students in a business college, the study finds that not only financial education, but also strong networks with professors, are positively related to the financial literacy of business students. After controlling for financial education, the results reveal that students educational network strength is positively associated with their financial literacy. On the contrary, students personal networks are not significantly related to their financial literacy. This paper contributes to the literature on financial literacy by showing that individuals financial networks with faculty, as well as financial education, can influence their financial literacy.
ISSN:1942-2504
1942-2512
DOI:10.19030/ajbe.v7i3.8632