What is the financial literacy level of Ecuadorian polytechnic university students? An essay to evaluate their performance
- Author
- Silvia Mariela Méndez Prado (UGent) , Patricia Everaert (UGent) and Martin Valcke (UGent)
- Organization
- Abstract
- A survey of 478 university students of ESPOL was applied to evaluate their financial literacy level. The sample, using their background in finance as a criterion, is divided into three groups: naturals, enlightened and unfamiliar. The results reveal numeracy as the principal reason to understand how people from the group “unfamiliar” reached better performance than "enlightened" and how, once again, the no “naturals” represents 70% of the people choosing a retirement account like their first option between house and car and pension plans, as the three Key Financial Decisions (KFD) provided in this study. Usual performances attributed to demographic and socioeconomic variables related to financial literacy performance were confirmed in this study: women, youth, low educational level of parents, low-income level, got low financial literacy level. The survey developed and applied as financial literacy´s instrument valuation passed the statistical proof under multivariate analysis and Confirmatory Factor Analysis (CFA). A proposal of financial literacy valuation index was developed with the data collected. Further studies could apply this survey to national and foreign higher education’s institutions, to compare their results and prove its robustness.
- Keywords
- financial literacy, financial attitude, financial knowledge, financial behavior, university students, confirmatory factor analysis, multivariate analysis, kfd, oecd.
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Citation
Please use this url to cite or link to this publication: http://hdl.handle.net/1854/LU-8679047
- MLA
- Méndez Prado, Silvia Mariela, et al. “What Is the Financial Literacy Level of Ecuadorian Polytechnic University Students? An Essay to Evaluate Their Performance.” 13TH INTERNATIONAL TECHNOLOGY, EDUCATION AND DEVELOPMENT CONFERENCE (INTED2019), 2019, pp. 986–90, doi:10.21125/inted.2019.0328.
- APA
- Méndez Prado, S. M., Everaert, P., & Valcke, M. (2019). What is the financial literacy level of Ecuadorian polytechnic university students? An essay to evaluate their performance. 13TH INTERNATIONAL TECHNOLOGY, EDUCATION AND DEVELOPMENT CONFERENCE (INTED2019), 986–990. https://doi.org/10.21125/inted.2019.0328
- Chicago author-date
- Méndez Prado, Silvia Mariela, Patricia Everaert, and Martin Valcke. 2019. “What Is the Financial Literacy Level of Ecuadorian Polytechnic University Students? An Essay to Evaluate Their Performance.” In 13TH INTERNATIONAL TECHNOLOGY, EDUCATION AND DEVELOPMENT CONFERENCE (INTED2019), 986–90. https://doi.org/10.21125/inted.2019.0328.
- Chicago author-date (all authors)
- Méndez Prado, Silvia Mariela, Patricia Everaert, and Martin Valcke. 2019. “What Is the Financial Literacy Level of Ecuadorian Polytechnic University Students? An Essay to Evaluate Their Performance.” In 13TH INTERNATIONAL TECHNOLOGY, EDUCATION AND DEVELOPMENT CONFERENCE (INTED2019), 986–990. doi:10.21125/inted.2019.0328.
- Vancouver
- 1.Méndez Prado SM, Everaert P, Valcke M. What is the financial literacy level of Ecuadorian polytechnic university students? An essay to evaluate their performance. In: 13TH INTERNATIONAL TECHNOLOGY, EDUCATION AND DEVELOPMENT CONFERENCE (INTED2019). 2019. p. 986–90.
- IEEE
- [1]S. M. Méndez Prado, P. Everaert, and M. Valcke, “What is the financial literacy level of Ecuadorian polytechnic university students? An essay to evaluate their performance,” in 13TH INTERNATIONAL TECHNOLOGY, EDUCATION AND DEVELOPMENT CONFERENCE (INTED2019), Valencia, Spain, 2019, pp. 986–990.
@inproceedings{8679047, abstract = {{A survey of 478 university students of ESPOL was applied to evaluate their financial literacy level. The sample, using their background in finance as a criterion, is divided into three groups: naturals, enlightened and unfamiliar. The results reveal numeracy as the principal reason to understand how people from the group “unfamiliar” reached better performance than "enlightened" and how, once again, the no “naturals” represents 70% of the people choosing a retirement account like their first option between house and car and pension plans, as the three Key Financial Decisions (KFD) provided in this study. Usual performances attributed to demographic and socioeconomic variables related to financial literacy performance were confirmed in this study: women, youth, low educational level of parents, low-income level, got low financial literacy level. The survey developed and applied as financial literacy´s instrument valuation passed the statistical proof under multivariate analysis and Confirmatory Factor Analysis (CFA). A proposal of financial literacy valuation index was developed with the data collected. Further studies could apply this survey to national and foreign higher education’s institutions, to compare their results and prove its robustness.}}, author = {{Méndez Prado, Silvia Mariela and Everaert, Patricia and Valcke, Martin}}, booktitle = {{13TH INTERNATIONAL TECHNOLOGY, EDUCATION AND DEVELOPMENT CONFERENCE (INTED2019)}}, isbn = {{9788409086191}}, issn = {{2340-1079}}, keywords = {{financial literacy,financial attitude,financial knowledge,financial behavior,university students,confirmatory factor analysis,multivariate analysis,kfd,oecd.}}, language = {{eng}}, location = {{Valencia, Spain}}, pages = {{986--990}}, title = {{What is the financial literacy level of Ecuadorian polytechnic university students? An essay to evaluate their performance}}, url = {{http://doi.org/10.21125/inted.2019.0328}}, year = {{2019}}, }
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