Work

Financial citizenship beyond borders: Validation of a model between Brazil and France

Year: 2025

Type: article

Abstract: This study proposed and validated a model of financial citizenship that integrates financial literacy, inclusion, and protection, comparing its applicability and mean differences between Brazilians and French. A sample from both countries was investigated. The data were analyzed using descriptive statistics, structural equation modeling, model invariance testing, and mean differences analysis. The invariance analysis confirmed that the model has an equivalent factor structure in both countries, enabling valid and consistent comparisons. The results indicated no significant differences in the mean scores for financial literacy and financial protection between the groups, possibly due to similarities in national financial education strategies. However, Brazilians scored significantly higher in financial inclusion and citizenship, suggesting some advances in financial practices in Brazil (e.g., the adoption of PIX) and thus expand access to digital banking services. This work advances the cross-cultural validity of the financial citizenship model and demonstrates its usefulness for international research.

Source: Borsa Istanbul Review

DOI: 10.1016/j.bir.2025.10.015

Authors: Ana Luiza Paraboni, Ani Caroline Grigion Potrich, Kelmara Mendes Vieira

Institutions: Universidade Federal de Santa Catarina, Universidade Federal de Santa Maria

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Accounting

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Reduced inequalities

Open Access status: gold

Estimated APC paid: $1,500