Gender Differences in Financial Knowledge among College Students: Evidence from a Recent Multi-institutional Survey

Yao, Man; Rehr, Tori I.; Regan, Erica P.

doi:10.1007/s10834-022-09860-1

Cited by 6 publications

(7 citation statements)

References 81 publications

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“…Previous research (LeBaron and Kelley 2020) on traditional gender roles depicts males as the breadwinners, financially responsible, and females as the caregivers, highlighting differences in parenting. Male children tend to receive more experiences in information about financial matters compared to female children (Yao et al 2023).…”

Section: Tax Knowledgementioning

confidence: 97%

“…When explaining the reasons for the gender gap in tax knowledge, we can follow the findings of Yao et al (2023), who identified some key factors for explaining a possible gender gap in financial knowledge. These mechanisms can be assumed to also apply to the gap in tax knowledge.…”

Section: Tax Knowledgementioning

confidence: 99%

“…Natasha and Yustina (2020) and Formanova et al (2021) could not find a gender effect on the level of tax knowledge or literacy, which does not align with Fallan's (1999) conclusion that reportedly identified a higher level of tax literacy among males. A sizable gender gap in financial knowledge was identified by Yao et al (2023). Although gender-sensitive tax laws are essential, they cannot attain gender equality.…”

Section: Tax Knowledgementioning

confidence: 99%

“…Gender differences depend on the complex interactions between specific family contexts and the socialization of gender roles, i.e., the family financial socialization process. In this process, norms, values, standards, attitudes, knowledge, and behaviors are acquired, contributing to the well-being of the individual and financial viability (Yao et al 2023;Danes 1994). The socialization processes positively correlate with individuals' subjective self-evaluated knowledge and objective knowledge (Zhu 2018;Deenanath et al 2019).…”

Section: Tax Knowledgementioning

confidence: 99%

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Tax Compliance in Slovenia: An Empirical Assessment of Tax Knowledge and Fairness Perception

Hauptman,

Žmuk,

Pavić

2024

JRFM

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Complex tax systems can result in tax evasion, which further impacts the revenues necessary to achieve sustainable development goals. Enhancing taxpayer education, tax knowledge, and tax fairness perception is essential for boosting revenues to support societal sustainability. The aim of this study was to assess the levels of tax knowledge and tax fairness perception within the Slovene taxpayer population, with a specific focus on the differences related to gender and settlement size. Further, the connections between tax knowledge and various aspects of tax fairness were explored. The Kruskal–Wallis test was used to assess the statistical significance of gender and settlement size differences and the Kendall’s coefficient of rank to determine the association between the tax knowledge and fairness perception dimensions. The results provide evidence that highlights disparities in tax knowledge between male and female taxpayers (p-value = 0.0116). Additionally, this study demonstrates that settlement size does not significantly impact tax knowledge perception among Slovene taxpayers (p-value = 0.2067). However, tax fairness encompasses various dimensions, and our research reveals no disparities based on gender (p-value = 0.7263) or settlement size (p-value = 0.2786). When assessing the correlation between tax knowledge and tax fairness perception, the results indicate statistically significant but weak correlations in both directions, depending on the specific fairness dimension.

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Section: Tax Knowledgementioning

confidence: 97%

Section: Tax Knowledgementioning

confidence: 99%

Section: Tax Knowledgementioning

confidence: 99%

Section: Tax Knowledgementioning

confidence: 99%

See 2 more Smart Citations

Tax Compliance in Slovenia: An Empirical Assessment of Tax Knowledge and Fairness Perception

Hauptman,

Žmuk,

Pavić

2024

JRFM

View full text Add to dashboard Cite

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“…That is, once a path has been charted through planning, it is essential to follow it with consistent actions, and ongoing savings is one of these essential behaviors aligned with preestablished goals at different timeframes. In addition, it is imperative to maintain a commitment to financial responsibilities and pay debts, bills, and credits over time (M. Yao et al, 2023). A thorough understanding of one's level of indebtedness facilitates informed decision making, thus minimizing impulse purchases and reserving funds for emergencies, which not only reflects momentary financial health but also a mindset focused on preparedness and foresight, which are key components for dealing with future financial uncertainties and challenges (Elifneh, 2022).…”

Section: Theoretical Frameworkmentioning

confidence: 99%

Employment of Generative Artificial Intelligence in Classroom Environments to Improve Financial Education in Secondary School Students

Zapata,

Acosta Enriquez,

Montes Ninaquispe

et al. 2024

Acad. J. Interdiscip. Stud.

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Financial education is considered an essential skill that enables students to effectively manage their economic resources. However, it is still at an embryonic stage in several countries, and the ability of young people to apply financial education in life contexts has not substantially improved. To address these challenges, this study proposes and evaluates a novel approach to improve financial education among high school students by using generative artificial intelligence tools. Following a quasi-experimental design, we randomly assigned a total of 110 high school students to two conditions: an experimental group that participated in learning experiences under the financial education approach using artificial intelligence tools such as ChatGPT and a control group that engaged in the same learning activities following the traditional teaching approach. The results of the Mann-Whitney U test indicate that there are significant differences between the scores of the experimental group and the control group (p=1.64E-19<0.05, group experimental=82.92> group control=28.08), demonstrating the effectiveness of the generative artificial intelligence approach in enhancing financial education compared to the traditional approach. Furthermore, the Kruskal-Wallis test revealed a significance p-value of less than 0.05 (p=0.000935<0.05), indicating that the use of AI significantly improves the five indicators of financial education according to the post-test evaluation phase of the experimental group. On the other hand, Dunn's test for multiple comparisons reveals a significantly greater influence of the innovative approach using artificial intelligence in the following dimensions: Financial Planning Actions, Financial Analysis Actions, Financial Behavior, and Strategic Expense Management; however, the Investment Initiative dimension shows a significantly lesser influence ( =103.46). The implementation of artificial intelligence in the classroom to promote student learning is favored by innovative approaches to pedagogical action. In this way, from the classroom, we can address the lack of skills and financial education in our students. Received: 11 December 2023 / Accepted: 19 March 2024 / Published: 5 May 2024

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The Link between Family Financial Socialization in Adulthood and Investment Literacy of P2P Investors

Legenzova,

Leckė

2024

J Fam Econ Iss

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This paper examines how family financial socialization in adulthood is linked to the development of investment literacy among individual family members within the context of innovative financial services, specifically peer-to-peer (P2P) lending. Our findings revealed that P2P lending investors engage in a moderate level family financial socialization suggesting that family, as a key financial socialization agent in childhood and adolescence, maintains its role in adulthood. Additionally, such investors possess a high-level investment knowledge, skills, and attitudes. Explicit family financial socialization has a significant and positive effect on the individuals’ investment knowledge, skills, and attitudes, while the effect of implicit financial socialization is significant but negative for knowledge and attitudes. Such findings suggest that family discussion among adult members result in higher, while observations of family members’ investment behavior led to lower investment literacy. Our study found no significant moderating effect of the strength of social ties indicating that dynamics of family relations neither strengthen nor weaken proximal socialization outcomes. The analysis of differences across demographic groups unveiled statistically significant distinctions concerning respondents’ gender, income, and education. These results provide important insights for stakeholders, underscoring the significant role family socialization in adulthood plays in shaping individuals’ investment literacy, particularly of those investing on P2P lending platforms.

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Gender Differences in Financial Knowledge among College Students: Evidence from a Recent Multi-institutional Survey

Cited by 6 publications

References 81 publications

Tax Compliance in Slovenia: An Empirical Assessment of Tax Knowledge and Fairness Perception

Tax Compliance in Slovenia: An Empirical Assessment of Tax Knowledge and Fairness Perception

Employment of Generative Artificial Intelligence in Classroom Environments to Improve Financial Education in Secondary School Students

The Link between Family Financial Socialization in Adulthood and Investment Literacy of P2P Investors

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