The relationship between vulnerable financial consumers and banking institutions. A qualitative study in Spain

González, Marta de la Cuesta; Paredes-Gázquez, Juan Diego; Ruza, Cristina; Fernández–Olit, Beatriz

doi:10.1016/j.geoforum.2021.01.006

Cited by 26 publications

(40 citation statements)

References 80 publications

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“…: 0213-8093 Nº103/2021, pp. 197-224 potencial de las cooperativas de crédito en estos espacios, como instituciones de carácter comunitario generadores de capital social, en el sentido apuntado por De la Cuesta et al (2021).…”

Section: Discusión De Los Resultados Y Conclusionesunclassified

“…Ambos objetivos se han convertido en una prioridad en las agendas políticas (Salignac et al, 2019) La literatura sobre inclusión/exclusión financiera es desigual; ha habido una mayor profusión de estudios centrados en Norte América y Reino Unido o en países en vías de desarrollo, mientras que los estudios en ámbitos de la Europa continental han tenido una menor incidencia (Fernández-Olit et al, 2019-b). En el ámbito español, algunos trabajos se han orientado al análisis de la exclusión financiera en colectivos vulnerables (Fernández-Olit et al, 2018) y en zonas urbanas (Fernández-Olit et al, 2019-a;Fernández-Olit et al, 2018;De la Cuesta et al, 2021) demostrando que el perfil de la población desbancarizada se asocia con mayor precariedad económica.…”

Section: Introductionunclassified

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La contribución de las cooperativas de crédito para aliviar la exclusión financiera geográfica en los espacios menos poblados. El caso de España

2021

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La crisis asociada a la Covid ha puesto de manifiesto nuevamente la relevancia del sistema financiero. La pasada crisis, de carácter financiero había impactado intensamente en el sistema bancario, provocando un fuerte retroceso en la actividad crediticia, lo que, en muchos casos se ha traducido en riesgo creciente de exclusión financiera, sobre todo en aquellos territorios en retroceso demográfico. En este contexto, las cooperativas de crédito, caracterizadas por su reducido tamaño, localismo y vocación de banca de proximidad, han sufrido un deterioro patrimonial menos acusado que el resto de las entidades del sistema bancario. Además, actúan en las áreas donde la densidad de población es más baja, distinguiendo su actividad del negocio de la banca lucrativa, lo que permite paliar la menor implantación de entidades financieras, contribuyendo mitigar la exclusión financiera de carácter geográfico en estos espacios. Así, en un intento por reivindicar el papel de las cooperativas de crédito, en especial en el desarrollo de los territorios de la España Vacía, se plantea el presente trabajo con un doble objetivo: por un lado, analizar la relación existente entre sistema financiero, empleo y población, y por otro, comprobar si la presencia de las cooperativas de crédito es mayor allí donde ambos factores son más débiles, dando servicio en los espacios no atendidos por el resto de los intermediarios financieros. Para ello se presenta un estudio empírico realizado a partir de un modelo de ecuaciones estructurales mediante una técnica de mínimos cuadrados parciales para datos demográficos y de actividad financiera en 2018, donde la provincia se utiliza como unidad de análisis.

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Section: Discusión De Los Resultados Y Conclusionesunclassified

Section: Introductionunclassified

La contribución de las cooperativas de crédito para aliviar la exclusión financiera geográfica en los espacios menos poblados. El caso de España

2021

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“…However, considering the FL’s low rates in Portugal, the study of Batsaikhan and Demertzis (2018), that places Portugal at the bottom of the ranking of FL measured in the European unit, and its position on gross domestic product and wealth rankings increases relevance and importance to this study. Identifying financial illiteracy helps cope with financial exclusion (Fernandez-Olit et al , 2018; Cuesta-González et al , 2021).…”

Section: Methodsmentioning

confidence: 99%

“…Financial inclusion is worldwide challenge, and exclusion affects vulnerable consumers in several ways (Cuesta-González et al , 2021; Fernandez-Olit et al , 2018). FL is the best way to fight against this evil.…”

Section: Conclusion and Future Researchmentioning

confidence: 99%

“…Portuguese Association for Consumer Protection, Portuguese Securities Market Commission, the Portuguese Insurance and Pension Funds Supervisory Authority and the Portuguese Central Bank that have been promoted initiatives to improve it among Portuguese youth, focusing mainly on students. This can result in financial exclusion and social exclusion (Fernandez-Olit et al , 2018; Cuesta-González et al , 2021). The connection between the absence of FL and financial exclusion makes this problem a priority for Portugal and the world.…”

Section: Introductionmentioning

confidence: 99%

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Are business students more financially literate? Evidence of differences in financial literacy amongst Portuguese college students

Duarte

Silva

Feitosa

et al. 2021

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Purpose Considering the importance of financial literacy (FL) in people’s lives the goal of this study aims to assess the level of FL of young Portuguese students, addressing the impact of the level of education on the FL of college students. Design/methodology/approach Data from a non-probabilistic sample of 185 students attending higher education bachelor’s and master’s degrees courses in Economics, Management and Marketing was collected between February 25 and March 23, 2019, using an online questionnaire. Descriptive and inferential statistics were computed using IBM SPSS 25 to analyze the data. Findings The findings show that the level of the degree (bachelor’s or master’s degree) and the academic background of the individual’s parents have a positive impact on FL. Moreover, among individuals with a high level of FL, gender and professional situation are additional predictors. Furthermore, the authors observed that the level of FL of Portuguese students attending higher education is overall low, especially in terms of their knowledge of the main financial concepts, which may call for public policies to be implemented so that to reduce this vulnerability. Research limitations/implications Among limitations is the limited sample collected, restricted to a particular target, Portuguese students attending business-related courses such as Economics, Management and Marketing, either studying for a master’s or bachelor’s degree. This issue restricts the generalization of the overall findings to other students studying different fields. Future studies can collect a random and representative sample. Practical implications This study test can be replicated to generate a diagnosis in any region or country, identifying how financially literate the region under analysis is. Also, this can be done to verify the evolution of FL after educational interventions. Social implications FL is an important competence. In fact, youngsters in the whole world have been suffering from a lack of financial knowledge (FK), and some characteristics of them can push them into indebtedness, and, even bankruptcy, such as a higher level of status consumption, the tendency to have an attitude of self-appraisal, to be self-centered, to seek instant gratification. This study helps to lead to a better understanding of this phenomenon. Originality/value Addressing college students attending different levels is an add-on to the existing body of literature. This paper contributes to study differences in FL between college and master students, enlightening and evaluating the role of scholarship maturity on financial education. Furthermore, some of the findings challenge the extant knowledge regarding the influence of professional experience, gender and age on the level of FK that students have. Finally, the current approach is innovative as it addresses FK, FL and numeracy in the same study.

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“I Don’t Like All Those Fees” Pragmatism About Financial Services Among Low-Income Parents

et al. 2022

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Basic financial services facilitate people’s ability to manage their finances, save, and receive payments from employers or the government. Drawing on survey data as well as qualitative interviews with 80 mothers with limited incomes, we find that parents take a pragmatic view and use a wide range of financial services to meet their needs including fintech, prepaid cards, and mobile phone-based solutions, as well as traditional banks. Mistrust in institutions is an important factor in shaping the services mothers avoid. Structural factors, like employers’ payment methods, also play a role in financial service use. These low-income parents of young children are actively using a range of financial services, much broader than those provided by traditional banks. Many mothers engaged in complex financial management practices to receive income and pay their bills. This opens room for potentially costly errors and is, at least, taxing their cognitive bandwidth. Researchers must attend to the diverse set of financial services with which parents engage and investigate how this affects families’ financial wellbeing and inclusion.

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The relationship between vulnerable financial consumers and banking institutions. A qualitative study in Spain

Cited by 26 publications

References 80 publications

La contribución de las cooperativas de crédito para aliviar la exclusión financiera geográfica en los espacios menos poblados. El caso de España

La contribución de las cooperativas de crédito para aliviar la exclusión financiera geográfica en los espacios menos poblados. El caso de España

Are business students more financially literate? Evidence of differences in financial literacy amongst Portuguese college students

“I Don’t Like All Those Fees” Pragmatism About Financial Services Among Low-Income Parents

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