Fintech Penetration, Financial Literacy, and Financial Decision-Making: Empirical Analysis Based on Tar
The level of financial literacy of rural residents will affect their financial decisions and the financial well-being behind the decisions. This paper uses mediating effect and moderating effect to test the influence path of rural residents’ subjective and objective financial literacy on their finan...
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| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2020-01-01
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| Series: | Complexity |
| Online Access: | http://dx.doi.org/10.1155/2020/6696312 |
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| _version_ | 1832550090961584128 |
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| author | Yi Li Zhengwang Li Fan Su Qiteng Wang Qian Wang |
| author_facet | Yi Li Zhengwang Li Fan Su Qiteng Wang Qian Wang |
| author_sort | Yi Li |
| collection | DOAJ |
| description | The level of financial literacy of rural residents will affect their financial decisions and the financial well-being behind the decisions. This paper uses mediating effect and moderating effect to test the influence path of rural residents’ subjective and objective financial literacy on their financial decision-making with survey data from Henan and Anhui provinces in China. The results show that subjective and objective financial literacy have positive effects on financial market participation. Subjective and objective financial literacy have negative direct effects on insurance market participation. Subjective financial literacy plays an incomplete mediating effect in the impact of objective financial literacy on financial market and insurance market participation. Objective financial literacy is adjusted by subjective financial literacy on financial market participation and insurance market participation. At the same time, we introduce financial technology penetration as a threshold variable in the model and find that the financial literacy has stronger impact on financial decision-making if the financial technology penetration is above the threshold. |
| format | Article |
| id | doaj-art-a5a8e1ad295d4dfe94bcd4678ae4003c |
| institution | Kabale University |
| issn | 1076-2787 1099-0526 |
| language | English |
| publishDate | 2020-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | Complexity |
| spelling | doaj-art-a5a8e1ad295d4dfe94bcd4678ae4003c2025-02-03T06:07:41ZengWileyComplexity1076-27871099-05262020-01-01202010.1155/2020/66963126696312Fintech Penetration, Financial Literacy, and Financial Decision-Making: Empirical Analysis Based on TarYi Li0Zhengwang Li1Fan Su2Qiteng Wang3Qian Wang4School of Finance, Hubei University of Economics, Wuhan, Hubei 430205, ChinaSchool of Finance, Zhongnan University of Economics and Law, Wuhan, Hubei 430073, ChinaSchool of Finance, Hubei University of Economics, Wuhan, Hubei 430205, ChinaSchool of Finance, Hubei University of Economics, Wuhan, Hubei 430205, ChinaSchool of Social Science and Public Policy, King’s College London, London SE1 8WA, UKThe level of financial literacy of rural residents will affect their financial decisions and the financial well-being behind the decisions. This paper uses mediating effect and moderating effect to test the influence path of rural residents’ subjective and objective financial literacy on their financial decision-making with survey data from Henan and Anhui provinces in China. The results show that subjective and objective financial literacy have positive effects on financial market participation. Subjective and objective financial literacy have negative direct effects on insurance market participation. Subjective financial literacy plays an incomplete mediating effect in the impact of objective financial literacy on financial market and insurance market participation. Objective financial literacy is adjusted by subjective financial literacy on financial market participation and insurance market participation. At the same time, we introduce financial technology penetration as a threshold variable in the model and find that the financial literacy has stronger impact on financial decision-making if the financial technology penetration is above the threshold.http://dx.doi.org/10.1155/2020/6696312 |
| spellingShingle | Yi Li Zhengwang Li Fan Su Qiteng Wang Qian Wang Fintech Penetration, Financial Literacy, and Financial Decision-Making: Empirical Analysis Based on Tar Complexity |
| title | Fintech Penetration, Financial Literacy, and Financial Decision-Making: Empirical Analysis Based on Tar |
| title_full | Fintech Penetration, Financial Literacy, and Financial Decision-Making: Empirical Analysis Based on Tar |
| title_fullStr | Fintech Penetration, Financial Literacy, and Financial Decision-Making: Empirical Analysis Based on Tar |
| title_full_unstemmed | Fintech Penetration, Financial Literacy, and Financial Decision-Making: Empirical Analysis Based on Tar |
| title_short | Fintech Penetration, Financial Literacy, and Financial Decision-Making: Empirical Analysis Based on Tar |
| title_sort | fintech penetration financial literacy and financial decision making empirical analysis based on tar |
| url | http://dx.doi.org/10.1155/2020/6696312 |
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