Málaga, España
This paper examines the relationship between financial literacy and risk-taking propensity in undergraduates, considering its three dimensions: financial knowledge, financial attitude, and financialbehaviour. It collects data through a questionnaire answered by 568 undergraduates. While Confirmatory Factor Analysis (CFA) is used to validate the measurement model, Structural Equation Model (SEM) isapplied to test a framework comprising five hypotheses. The results indicate that financial knowledge and financial behaviour directly and positively affect risk-taking propensity. This research also confirms afavourable indirect effect of financial attitude on risk-taking propensity through financial behaviour.
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