Antecedents and Consequences of Financial Literacy: A Comprehensive Systematic Literature Review of the Past Decade

Eni Purnasari (), Sri Hermuningsih, Riskin Hidayat, Syamsul Hadi and Atul Kumar
Additional contact information
Eni Purnasari: Universitas Sarjanawiyata Tamansiswa
Sri Hermuningsih: Universitas Sarjanawiyata Tamansiswa
Riskin Hidayat: Universitas Sarjanawiyata Tamansiswa
Syamsul Hadi: Universitas Sarjanawiyata Tamansiswa
Atul Kumar: DPU Dr. D.Y. Patil B-School

A chapter in Proceedings of the 3rd International Conference on Management and Business (ICOMB 2024), 2025, pp 3-14 from Springer

Abstract: Abstract Purpose – The rapid development of financial technology has facilitated limitless access for the public. Financial literacy has gained popularity alongside the growing number of financial service users worldwide. In this context, this study aims to identify the antecedents and consequences of financial literacy by synthesizing existing research. Methodology – This study uses a systematic literature review approach to identify the antecedents and consequences of financial literacy. It also reviews the descriptive, publication, theoretical, research methodology, and geographical coverage of 32 studies identified from the Emerald database between 2014 and 2024. Findings – The results reveal various antecedents of financial literacy, including Income, Education, Gender, Experience, Financial Knowledge, Parental Influence, Behavioral Biases, Social Capital, and Cultural Factors. Additionally, the consequences identified are Improved Financial Decision-Making, Increased Stock Market Participation, Entrepreneurial Success, Reduction in Financial Vulnerability, Better Portfolio Diversification, Decreased Risky Financial Behavior, and Enhanced Financial Inclusion. Furthermore, an integrated framework is presented to synthesize existing research and guide future finance researchers, particularly in financial literacy. Originality – This integrated approach offers a clear framework that connects key antecedents and consequences of financial literacy, providing fresh insights for future research and policy development.

Keywords: Financial Literacy; Antecedent; Consequence; Literature Review (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

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:spr:advbcp:978-94-6463-698-7_2

Ordering information: This item can be ordered from
http://www.springer.com/9789464636987

DOI: 10.2991/978-94-6463-698-7_2

Access Statistics for this chapter

More chapters in Advances in Economics, Business and Management Research from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().