Give mind to the gap: Measuring gender differences in financial knowledge

Ooi, Elizabeth

doi:10.1111/joca.12310

Cited by 12 publications

(17 citation statements)

References 45 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…When accounted for different nature of incorrect and "Don't know" responses, financial literacy quizzes show a considerably smaller gender gap in test scores or the absence of a significant gender difference altogether (Bucher-Koenen, Alessie, Lusardi, & van Rooij, 2016;Z. Chen & Garand, 2018;Kim & Mountain, 2019;Ooi, 2020). This may mean that, after all, women and men have comparable resources of financial knowledge and skills, while the only reason for worse results of female respondents in financial literacy tests is that women tend to admit if they do not know the correct answer, while men prefer to take a guess.…”

Section: Discussionmentioning

confidence: 99%

Do Women Behave Financially Worse than Men? Evidence from Married and Cohabiting Couples

Cwynar¹

2021

CEBR

View full text Add to dashboard Cite

Extensive empirical evidence shows that women perform worse in financial literacy tests, which implies that their financial behaviour may also be worse compared to men. However, the literature on the gender gap in financial behaviour is scanty and highly inconclusive. Using data from a survey of married and cohabiting couples living in Poland (N=1,000) and a multi-dimensional scale validated in terms of its psychometric properties, this article compares the financial behaviour of women and men. The applied tests did not show any significant gender differences in the overall financial behaviour index or in any of the subdomains of the behaviour distinguished in the applied scale. Using the social identity theory as a framework, we discuss possible explanations of these puzzling findings, which may imply that women are unnecessarily considered a disadvantaged group in terms of preparedness to participate in financial life, including the business sphere. Implications for Central European audience: Assuming that the gender differences in financial literacy and behaviour can be explained on the grounds of the social identity theory, Central and Eastern Europe may differ from Western Europe in terms of the gender gap. Socially-imposed gender roles were presumably shaped differently behind the Iron Curtain, which resulted in that the distinction between masculine and feminine roles got blurred under the Soviet regime. As a result, the absence of gender differences in financial behaviour is more likely to occur in Central and Eastern European countries. Financial education initiatives should take this circumstance into account.

show abstract

Section: Discussionmentioning

confidence: 99%

Do Women Behave Financially Worse than Men? Evidence from Married and Cohabiting Couples

Cwynar¹

2021

CEBR

View full text Add to dashboard Cite

show abstract

“…Bucher-Koenen et al (2017), extending the evidence for other countries, found that only ex-Soviet countries (Russia, Romania, and East Germany) have an equal distribution of financial knowledge between sexes. However, recent literature stresses how, when asked to answer questions that measure knowledge of basic financial concepts, women are less likely than men to indicate that they do not know the answer (Bucher-Koenen et al 2017;Kim and Mountain 2019;Ooi 2020). Therefore, the lower scores of women compared to men in financial literacy surveys reflects more the differences in the genders' self-reported confidence than the gender differences in their actual level of financial knowledge.…”

Section: Factors Influencing Financial Knowledge: a Literature Reviewmentioning

confidence: 99%

Machine Learning and Financial Literacy: An Exploration of Factors Influencing Financial Knowledge in Italy

Levantesi

Zacchia

2021

JRFM

View full text Add to dashboard Cite

In recent years, machine learning techniques have assumed an increasingly central role in many areas of research, from computer science to medicine, including finance. In the current study, we applied it to financial literacy to test its accuracy, compared to a standard parametric model, in the estimation of the main determinants of financial knowledge. Using recent data on financial literacy and inclusion among Italian adults, we empirically tested how tree-based machine learning methods, such as decision trees, random, forest and gradient boosting techniques, can be a valuable complement to standard models (generalized linear models) for the identification of the groups in the population in most need of improving their financial knowledge.

show abstract

“…For example, research often prioritizes gender differences (e.g. Ooi, 2020) which assumes stability of gender and again reproduces a binary understanding of gender which seems to neglect the "variations on a theme. "…”

Section: Transgender Consumer Experiencesmentioning

confidence: 99%

“Generally, I live a lie”: Transgender consumer experiences and responses to symbolic violence

Duncan‐Shepherd

Hamilton

2022

Journal of Consumer Affairs

View full text Add to dashboard Cite

In this article, our focus is on how trans consumers experience symbolic violence to draw attention to inequalities that may otherwise remain hidden. Unlike overt acts of physical violence, symbolic violence is subtle and occurs routinely throughout the course of everyday life. We address the following research questions: how do trans consumers experience symbolic violence, what are their responses to this, and what impact does this have on their wellbeing? Our findings demonstrate that symbolic violence functions at sociocultural, interpersonal, and individual levels for trans consumers. We illustrate the tensions trans people encounter between conforming to cisgender hegemony and living an 'authentic' life. The subtle, naturalizing power and misrecognition of symbolic violence appears challenging for the wellbeing of transgender consumers. The lens of symbolic violence usefully informs and integrates with the consumer vulnerability perspective that has previously been used as a theoretical framework to understand transgender consumers' experiences.

show abstract

Give mind to the gap: Measuring gender differences in financial knowledge

Cited by 12 publications

References 45 publications

Do Women Behave Financially Worse than Men? Evidence from Married and Cohabiting Couples

Do Women Behave Financially Worse than Men? Evidence from Married and Cohabiting Couples

Machine Learning and Financial Literacy: An Exploration of Factors Influencing Financial Knowledge in Italy

“Generally, I live a lie”: Transgender consumer experiences and responses to symbolic violence

Contact Info

Product

Resources

About