| Popis: |
In the past decade, individual and company financial literacy measurement methods went through substantial changes. To investigate factors contributing to financial literacy of both individuals and firms, scholars needed to reach out for new measurement methods other than the traditional knowledge tests widely used previously. This paper provides a synthesis of the most recent studies concerning both individual and company financial literacy regarding the dimensions of financial literacy and methods available for measuring and modelling financial literacy. The results highlight new emerging trends in the assessment: qualitative methods (e. g. interviews and case studies), for getting insight into very special segments of financial literacy, and more elaborate and complex models, such as OLS regression, bivariate and multivariate logit and probit models, which provide effective ways to get a deeper understanding of the interaction of factors forming and determining financial literacy both at the individual at company level. However, even though the toolkit of measuring financial literacy is getting richer and richer, the connection between the individual and firm-level models seem to be nonexistent. This paper proposes a measurement model with the help of which company financial literacy can be measured through the assessment of individuals and their relationship contributing to firm-level financial decisions. |
