Fintech Penetration, Financial Literacy, and Financial Decision-Making: Empirical Analysis Based on Tar
| Autor: | Zhengwang Li, Qian Wang, Yi Li, Fan Su, Qiteng Wang |
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| Jazyk: | angličtina |
| Rok vydání: | 2020 |
| Předmět: |
Finance
050208 finance Multidisciplinary Article Subject General Computer Science business.industry 05 social sciences Financial market Direct effects Insurance market QA75.5-76.95 Affect (psychology) Test (assessment) FinTech Electronic computers. Computer science 0502 economics and business Financial literacy Survey data collection Business 050207 economics |
| Zdroj: | Complexity, Vol 2020 (2020) |
| ISSN: | 1099-0526 1076-2787 |
| Popis: | 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. |
| Databáze: | OpenAIRE |
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