What Is the Financial Literacy Level of Ecuadorian Polytechnic University Students? An Essay to Evaluate Their Performance

Prado, Silvia Mariela Méndez; Everaert, Patricia; Valcke, Martin

doi:10.21125/inted.2019.0328

Cited by 1 publication

(3 citation statements)

References 12 publications

(19 reference statements)

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“…The higher stock market literacy scores for master's graduates joined the previous findings with higher educational attainment results [9] [18].…”

Section: Discussionsupporting

confidence: 68%

“…In a recent study on university students in Ecuador from Mendez et al 2019, they revealed low levels of financial knowledge. About 51% of the students obtained a score between 0% and 40%, out of a maximum score of Financial Knowledge of 100% [9]. According to other findings research, this precedent denotes an impediment of great significance to the stock market development.…”

Section: Introductionmentioning

confidence: 71%

“…Ecuadorian research on financial literacy is limited. Only one scientific study referred in Scopus indexation for Mendez et al 2019 formally evaluate the educational level on financial literacy, remarking people with higher education have higher levels of financial literacy [9]. Regarding the literature of other countries, in China, the results obtained by Jiang et al seem to coincide with the study findings from Ecuador since investors with high educational levels obtained better financial literacy scores [18].…”

Section: Related Literaturementioning

confidence: 89%

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The main research objective is to know the level of stock market literacy as a subsection of financial literacy of young Ecuadorian professionals to understand the Ecuadorian capital market development on the demand side. This study specifically aims to analyze the stock market literacy scores by the sociodemographic variables (educational level, gender, marital status, area, and age). Four hundred twenty-one master's degree graduates and students, young professionals, were surveyed and evaluated with a tailor-made scale of forty-six items under two dimensions of stock market literacy (SML): financial knowledge (FK) and financial attitude (FA). The statistical analysis reveals master's graduates and people with housing in urban areas have higher literacy levels, and the stock market literacy on average in Ecuador is (0.57). The study's results filling the research gap in the field, confirm the lack of knowledge about the stock market in Ecuador, and point out an issue to address in public policies for economic development. CCS CONCEPTS• General and reference → Document types; Surveys and overviews; Document types; General conference proceedings; Document types; General literature..

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“…The higher stock market literacy scores for master's graduates joined the previous findings with higher educational attainment results [9] [18].…”

Section: Discussionsupporting

confidence: 68%

Section: Introductionmentioning

confidence: 71%