Determination of Factors Affecting the Financial Literacy of University Students in Eastern Anatolia using Ordered Regression Models
Seyda Unver and
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Omer Alkan: Associate Professor, Department of Econometrics, Faculty of Economics and Administrative Sciences, Ataturk University, Yakutiye/Erzurum, Turkey.
Erkan Oktay: Professor, Department of Econometrics, Faculty of Economics and Administrative Sciences, Ataturk University, Erzurum, Turkey.
Seyda Unver: Research Assistant, Department of Econometrics, Faculty of Economics and Administrative Sciences, Ataturk University, Erzurum, Turkey.
Esmer Gerni: Master Student, Department of Econometrics, Faculty of Economics and Administrative Sciences, Ataturk University, Erzurum, Turkey.
Asian Economic and Financial Review, 2020, vol. 10, issue 5, 536-546
Financial literacy is a factor that has a significant effect on financial development, stabilization and the economy. This study determined the factors affecting the financial literacy levels of formal and secondary education undergraduate students at Atat?rk University. The study population was formal and secondary education undergraduate students at Atat?rk University. A questionnaire was sent to 1,008 students who agreed to participate in the survey in the last quarter of 2018. In the study, factors affecting the financial literacy levels of undergraduate students were determined by ordered logistic regression and ordered probit regression analysis. The ordered logistic regression model was the best according to model comparison criteria. According to the results of this model, age, class, basic science field, gender, marital status, monthly personal income, watching eco-finance news status, and economic knowledge variables were found to be factors that affected financial literacy levels. In the study, it was determined that the financial literacy levels of women, those under 25 years old, university students in science, in the fourth year and above, having a monthly personal income of ₺1251 and below, single, not watching economic and financial news and with lower economic literacy were low. This study emphasizes the need to target these groups. These groups? financial literacy levels need to be improved.
Keywords: Financial literacy; Undergraduate student; Socio-demographic factors; Questionnaire; Categorical data analysis; Ordered logistic regression; Ordered probit regression; Atat?rk University; Turkey. (search for similar items in EconPapers)
JEL-codes: C10 C25 G53 I22 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:asi:aeafrj:2020:p:536-546
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