Students’ Confidence in Their Financial Management Abilities: The Role of Socio-Demographic Characteristics and Education

Kozina, Francka Lovšin; Ponikvar, Nina

doi:10.33225/pec/14.58.108

Cited by 3 publications

(1 citation statement)

References 24 publications

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“…Students studying at vocational and business schools had worse financial literacy scores, from 4.3 percentage points to 6.2 percentage points, than students studying at grammar schools. On the contrary, the results of Kozina and Ponikvar (2014) suggested that the likelihood of students' confidence in their financial management capability and knowledge was significantly higher for students that did specialize in economics or business studies.…”

Section: Discussionmentioning

confidence: 85%

Determinants of Financial Literacy: Analysis of the Impact of Family and Socioeconomic Variables on Undergraduate Students in the Slovak Republic

Böhm

Böhmová

Gazdíková

et al. 2023

JRFM

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Technological progress and the development of electronic services make financial services one of the fastest-growing sectors. The role of the current education system is to ensure that all users of an ever-increasing variety of products and services understand them and are able to use them efficiently. However, in terms of gender, socioeconomic, and demographic factors, the existing system of financial literacy education exhibits considerable disparity. The main goal of this research was to identify which factors had the greatest impact on the level of financial literacy and to analyse the magnitude of that impact. The study involved 363 first-year undergraduate students at the University of Žilina, Slovakia, and consisted of two parts—a questionnaire and a test that evaluated the impact of five groups of factors on the level of financial literacy. The research results suggest that the student’s gender, father’s education, family’s financial background, and student’s part-time work experience were among the most important determinants of financial literacy. Identifying these factors can aid in the adjustment of financial literacy education to reduce identified inequalities.

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Section: Discussionmentioning

confidence: 85%

Determinants of Financial Literacy: Analysis of the Impact of Family and Socioeconomic Variables on Undergraduate Students in the Slovak Republic

Böhm

Böhmová

Gazdíková

et al. 2023

JRFM

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Truth, Faithfullness and Reliability Vagueness in the Accounting Theory as a Challenge for Accounting Teachers

Maruszewska

Szewieczek

Strojek-Filus

2015

PEC

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The study was aimed at examining the notion of truth, faithfulness and reliability approaches in chosen social sciences, and accounting theoretical foundations among them. In order to explore whether accounting conceptual framework together with accounting theoreticians have developed a satisfactory understanding of the notion of truth, faithfulness and reliability, a literature review was undertaken seeking the definitions and classifications of truth that might be useful in business practice, especially in accounting preparation of financial reports. The main method used in order to achieve the aim was a critical analysis of the contemporary English and Polish literature on accounting, philosophy, as well as psychology and sociology to go to the comparison of the truth and reality perception from various perspectives. The results have shown that the recent changes made in foundations of accounting theory did not provide a satisfactory solution to the problem. The researchers contribute to the existing literature as there is an on-going debate on the direction and extent of changes in the international harmonization and standardisation of accounting that is focused on the problem of faithfulness of the information disclosed in the financial reports. It is argued that the understanding of truth is a key to an understanding of accounting theory and an inevitable factor of proper practice of accounting. Considering accounting teaching process, there was a qualitative analysis conducted based on accounting curricula of Polish public university with long tradition in accounting undergraduate and graduate education. With regards to the accounting curricula of a chosen university, it has been observed that there is an urgent need for a discern of accounting curricula in order to make substantive contents corresponding with developing economic surroundings of business entities preparing financial reports. Moreover, the importance of non-algebraic approach is stressed as a result of the study. Key words: economic reality, faithfulness, faithful representation, financial reporting, truth in accounting, accounting education.

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The Impact of Secondary Education on the Level of Financial Literacy: The Case of Slovakia

Böhm

Böhmová

Šimková

et al. 2021

PEC

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Financial literacy, specifically its measurement and education in this field, is a very current topic. The main aim of this research was to find out whether secondary school education had a positive impact on the level of student’s financial literacy and to identify other important factors that affected its level. All 363 first-year bachelor's students of the Faculty of Operations and Economic of Transport and Communications (FPEDAS), University of Zilina, Slovakia, took part in the research. The research consisted of two parts – a questionnaire and a test. The questionnaire focused on demographic, educational, and socio-economic factors influencing students' financial literacy. The test included items aimed at finding out whether students could correctly define selected concepts of the financial area, whether they understood these concepts, and were able to analyze them. The most important finding of the research was that the number of lessons dedicated to mathematics and financial literacy in secondary school did not have a statistically significant impact on the level of student’s financial literacy. On the contrary, the level of financial literacy was correlated with the overall performance of the student at the secondary school and the type of secondary school the student attended. The research also aimed to verify the hypothesis that the student's study program affected the level of his or her financial literacy. It turns out that increasing the number of mathematics or financial literacy lessons is not sufficient to improve financial literacy levels, but more important is teacher education, the content and form of the education and the effectiveness of the teaching process. Keywords: financial literacy, secondary education, bachelor study program, tobit regression model

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Students’ Confidence in Their Financial Management Abilities: The Role of Socio-Demographic Characteristics and Education

Cited by 3 publications

References 24 publications

Determinants of Financial Literacy: Analysis of the Impact of Family and Socioeconomic Variables on Undergraduate Students in the Slovak Republic

Determinants of Financial Literacy: Analysis of the Impact of Family and Socioeconomic Variables on Undergraduate Students in the Slovak Republic

Truth, Faithfullness and Reliability Vagueness in the Accounting Theory as a Challenge for Accounting Teachers

The Impact of Secondary Education on the Level of Financial Literacy: The Case of Slovakia

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