Determinants of the actual financial knowledge – multivariate logistic regression
Year: 2025
Type: article
Study design: Observational Study
Abstract: This study aims to investigate the actual financial knowledge of different groups of Romanian adults, based on a survey conducted by the Institute of Financial Studies in 2023. The novelty of the paper consists in the use of logistic regression technique to measure the impact of independent variables on the actual financial knowledge of the Romanian adults, while considering new psychological variables into the model, bearing in mind Romanians’ ex-communism history and Latin background. The findings indicate a positive impact of the perceived financial knowledge, the possibility to cover major expanses, the age, and the higher education of the respondents on their actual financial knowledge index. The results are useful for individuals, government, financial institutions, and financial education providers to understand the main influencing factors of the actual financial knowledge of adults. These could support the development of financial education policies.
Source: Journal of Applied Economics
Language: English
Subfield: Accounting
Domain: Social Sciences
Open Access status: gold
Estimated APC paid: $1,533
OpenAlex ID: W4408872945