Defining and Measuring Financial Literacy. New Evidence from Romanian’ Students of the Master in Finance

Oanea Dumitru-Cristian () and Adina Dornean

Scientific Annals of Economics and Business, 2012, vol. 59, issue 2, 113-129

Abstract: This paper aims at defining and measuring financial literacy. The first objective of defining financial literacy was accomplished through reviewing the literature, finding the definition of these two concepts, “financial” and “literacy”, for a better understanding of meanings of these two concepts. This study surveys 200 students from the Master in Finance, at several Faculties of Economics and Business Administration from Romania (Bucharest, Braşov, Cluj, Craiova, Iași). The results that we obtained show that the participants correctly answered at 74.79% of questions. Our study’s results indicate that male students have a higher level of literacy related to personal finance than female students. Also, the survey shows that 75% of economist students from Romania have a medium to high level of financial literacy, but only 48.8% have a high level of financial literacy

Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:vrs:aicuec:v:59:y:2012:i:2:p:113-129:n:9

DOI: 10.2478/v10316-012-0036-3

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