Do Women’s Financial Literacy Accelerate Financial Inclusion?  Evidence from Pakistan

Zahid, R. M. Ammar; Rafique, Safia; Khurshid, Muzammil; Khan, Wajid; Ullah, Ikram

doi:10.1007/s13132-023-01272-2

Cited by 7 publications

(3 citation statements)

References 32 publications

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“…Understanding financial literacy can provide benefits, such as being able to prepare financial plans and understand financial products to determine the most appropriate (Liu et al , 2023). Increasing financial literacy in society will help contribute to better financial inclusion (Zahid et al , 2023) and financial decision-making (Lusardi, 2019) to improve welfare (Hidayat and Sari, 2022).…”

Section: Theoretical Backgroundmentioning

confidence: 99%

Antecedents of Islamic welfare: productivity, education, and the financial aspect

Hapsari,

Mahmud,

Herianingrum

et al. 2023

IMEFM

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Purpose The purpose of this study is to analyse, firstly, whether education, financial inclusion, financial literacy and financial planning can be antecedents that affect Islamic welfare and, secondly, whether productivity can be a mediator to improve Islamic welfare. Design/methodology/approach This study involved quantitative research using data obtained from a survey. The respondents were 538 Muslim families in East Java, Indonesia. Structural equation modelling was used for the analysis. Findings This study tested 13 hypotheses, of which 10 were accepted. The accepted hypotheses refer to the effects of financial literacy on productivity, financial inclusion on productivity, financial planning on productivity, financial planning on Islamic welfare, education on Islamic welfare, productivity on Islamic welfare, financial literacy and productivity on Islamic welfare, financial inclusion and productivity on Islamic welfare and financial planning and productivity on Islamic welfare, as well as the effects of financial inclusion on Islamic welfare. Meanwhile, three hypotheses were not accepted; they refer to the effects of financial literacy on Islamic welfare, the effect of education on productivity, as well as the impact of education and productivity on Islamic welfare. Research limitations/implications The study was conducted only with respondents living in East Java, so the results depict the condition of Muslim families’ welfare in East Java. Originality/value Research into the antecedents of Islamic welfare has received little academic attention, so this study explores how education, financial inclusion, financial literacy, financial planning and productivity could affect Islamic welfare among Muslim families.

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Section: Theoretical Backgroundmentioning

confidence: 99%

Antecedents of Islamic welfare: productivity, education, and the financial aspect

Hapsari,

Mahmud,

Herianingrum

et al. 2023

IMEFM

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“…This is owing to the development of financial markets that require households to make more complex financial decisions than ever [ 13 ]. Financial literacy enhances investors’ stock market participation [ 14 ], increases household demand for risky financial assets [ 15 ], improves the identification of fraud in risky decision-making [ 16 ], and promotes financial inclusion [ 17 ]. Additionally, an individual’s financial literacy, experiences, attitudes, and behaviors can contribute to their financial decision-making [ 18 ].…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

“…The growing importance of financial literacy is gaining prominence with the increasing interconnectedness of global economies and information accessibility. Although previous studies examined many effects of financial literacy [14][15][16][17], there is still a dearth of scholarly investigation of the correlation between financial literacy and stock returns, particularly within the Chinese stock market context. This study addresses the aforementioned research gap by uncovering a positive correlation between the prevalence of financial literacy and microhousehold stock returns.…”

Section: Financial Literacy Helps Improve Stock Returnsmentioning

confidence: 99%

Impact of financial literacy on household stock profit level in China

Luo,

Azam,

Wang

2023

PLoS ONE

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The popularization of financial literacy has become a global trend, with governments across the world expressing commitment to continuously enhancing the financial literacy of their citizens to improve the country’s overall financial well-being. However, there is a lack of research evaluating the actual effects of financial literacy on Chinese households. This study first investigated the micro impact of financial literacy on the household stock profit level using data from the 2019 China Household Finance Survey. As most existing studies use factor analysis to measure financial literacy from a single dimension of financial knowledge, our study additionally used the entropy method to construct a composite evaluation system of financial literacy from four dimensions: financial skills, knowledge, attitudes, and behaviors. The ordinary least squares model was utilized as the primary regression model to estimate the correlation, and the average financial literacy of other households in the same community was selected as an instrumental variable. Further instrumental variable regression analysis was conducted using the two-stage least squares method. Three robustness tests were performed to ensure the reliability of the research findings. The results demonstrate that financial literacy significantly enhances household stock profit levels. The mediation effect analysis indicates that financial literacy affects stock profit levels through financial information attention. Moreover, financial literacy has a more substantial promoting effect on stock profit levels for households with members working for state-owned enterprises and those living in first-tier cities. This study confirms the value of financial literacy; identifies important channels for residents to increase their property income; and provides important guidance for the government, educational organizations, and financial institutions. This also injects more vigor into market participation to improve the persistently sluggish Chinese stock market.

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Women’s Financial Literacy and Financial Inclusion Post-pandemic

Patnaik,

Pradhan

2024

Sustainable Finance

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Do Women’s Financial Literacy Accelerate Financial Inclusion? Evidence from Pakistan

Cited by 7 publications

References 32 publications

Antecedents of Islamic welfare: productivity, education, and the financial aspect

Antecedents of Islamic welfare: productivity, education, and the financial aspect

Impact of financial literacy on household stock profit level in China

Women’s Financial Literacy and Financial Inclusion Post-pandemic

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