Despite considerable policy efforts, women continue to be underrepresented in positions of power and decision making. As an important aspect of women empowerment, we examine women's participation in intrahousehold financial decision making and how this is affected by financial literacy. Using...

Substantial evidence indicates that global financial literacy is a concern, particularly among young adults. As the cost of higher education continues to increase in western countries, the implications of financial decisions made in late teenage years will have a major impact on long-term...

Financial literacy has become a major area of research in recent years, both in the investment and retirement literature with respect to the increasing complexity of financial products and need to save for retirement. Studies generally find individuals are financially uninformed and lacking in...

People are increasingly responsible for making sound financial decisions to foster their financial satisfaction and well-being, which magnifies the importance of financial literacy, and this concept and measurement is still not yet crystallized in the literature, specifically capturing different...

We investigate a novel determinant of financial distress, namely individuals' self-efficacy, or belief that their actions can influence the future. Individuals with high self-efficacy are more likely to take precautions that mitigate adverse financial shocks. They are subsequently less likely to...

India is heading on the path of a major mobile revolution. Mobilization of the payment mechanism will be considered as landmark in the era of cashless economy. The present study examines financial Literacy and usage pattern of mobile wallets across gender groups and the various factors that can...

This paper introduces a novel dimension of household heterogeneity that plays an important role in housing markets. Households who self-assess themselves to be more financially literate are 1) more likely to own a house and 2) take on higher leverage on their home. We solve a heterogeneous agent...

This research investigates the role of financial literacy on initiating and achieving a favorable negotiation outcome in an employment context. With a goal of improving long-term financial well-being, extant research examines whether increasing a person's understanding of basic financial...

The study attempts to report the influence of demographics on financial literacy and to assess the impact of the latter on different personal finance decisions. Using cross-sectional research design, a survey through interview-schedule comprising of 50 questions have used to collect data from...

When choosing a particular alternative from a number of financial assets, risk is an important feature. According to the classic Capital Assets Pricing Model (CAPM), we would expect to receive a positive correlation between risk and return of financial assets. However, studies show that...