Work

The role of learning motivation on financial knowledge among Vietnamese college students

Year: 2023

Type: article

Abstract: Using survey data from 730 undergraduates in Vietnam, we find that learning motivation and its components, especially self‐efficacy, finance learning value, and achievement goals, significantly correlate with students' financial literacy performance. In addition, these correlations are moderated by student characteristics, among which academic seniority, university type, parents' education, and extra math study during high school matter the most. Our results raise significant implications to policymakers, researchers, and educators that include understanding the role of motivation and incorporating it in financial literacy education and intervention programs and considering the moderation roles that individuals' characteristics play in the motivation‐financial literacy link. We encourage more research in these areas.

Source: Journal of Consumer Affairs

DOI: 10.1111/joca.12511

Authors: Trang M. T. Phung, Quoc N. Tran, Phuong Nguyen‐Hoang, Nhut H. Nguyen, Tho H. Nguyen

Institutions: Hoa Sen University, University of Iowa, Auckland University of Technology, University of Economics Ho Chi Minh City

Language: English

Topic: Financial Literacy, Pension, Retirement Analysis

Subfield: Finance

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDG: Quality education

Open Access status: hybrid

Estimated APC paid: $3,040