Regulatory Focus, Money Attitudes and Financial Literacy: Evidence from Portuguese Young Adults
Maria C. Pereira () and
Filipe Coelho ()
Additional contact information
Maria C. Pereira: University of Coimbra/CeBER
Filipe Coelho: University of Coimbra/CeBER
Journal of Family and Economic Issues, 2020, vol. 41, issue 4, No 2, 615-625
Abstract:
Abstract This paper proposes that the type of an individual’s motivational forces underlies his/her willingness and ability to acquire financial literacy (FL), whose outcomes ultimately shape consumers’ well-being. Specifically, we study the FL of young adults, relying on regulatory focus (RF) theory, which considers two motivational systems, namely, a prevention and a promotion system. Using a sample of 682 students from a Portuguese public university, we examine the relationship between RF and FL, considering the mediating effect of money attitudes (MA). To test the research hypotheses, we rely on structural equation modelling. The results provide support for our predictions. Prevention is negatively related to FL, and promotion is positively related to it. Moreover, prevention positively relates to power-prestige, distrust, and anxiety, and relates negatively to retention-time, whereas promotion is positively associated with retention-time and negatively with distrust. The relationship between RF and FL is partially mediated by MA. Hence, this study tests a number of novel relationships, yielding relevant policy implications.
Keywords: Financial literacy; Regulatory focus; Money attitudes; Young adults (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)
Downloads: (external link)
http://link.springer.com/10.1007/s10834-020-09662-3 Abstract (text/html)
Access to full text is restricted to subscribers.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:kap:jfamec:v:41:y:2020:i:4:d:10.1007_s10834-020-09662-3
Ordering information: This journal article can be ordered from
http://www.springer. ... es/journal/10834/PS2
DOI: 10.1007/s10834-020-09662-3
Access Statistics for this article
Journal of Family and Economic Issues is currently edited by Joyce Serido
More articles in Journal of Family and Economic Issues from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().