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Family background and financial literacy of Italian students: the mediating role of attitudes and motivations

Author

Listed:
  • Sergio Longobardi

    (University of Naples "Parthenope" (ITALY))

  • Margherita Maria Pagliuca

    (University of Naples "Parthenope" (ITALY))

  • Andrea Regoli

    (University of Naples "Parthenope" (ITALY))

Abstract

The aim of this paper is to assess the determinants of financial literacy amongst Italian students and to evaluate the role of students' attitudes and motivations as mediators for the influence of family background. We focus on the process of financial knowledge development of 15-year-old Italian students by exploiting the large amount of OECD-PISA (Programme for International Student Assessment) data. Through the specification of a structural equation model (SEM), our results illustrate that the effect of family background on financial literacy is only partially mediated by the latent constructs that measure the students' attitudes and motivations. This suggests that the direct impact of the family context on financial literacy attainment still holds once the mediating effect of students' attitudes and motivations is accounted for. In addition, focusing on the gender gap, our findings indicate that the acquisition process of the financial competences, according to the hypothesised model, does not show significant differences between boys and girls.

Suggested Citation

  • Sergio Longobardi & Margherita Maria Pagliuca & Andrea Regoli, 2017. "Family background and financial literacy of Italian students: the mediating role of attitudes and motivations," Economics Bulletin, AccessEcon, vol. 37(4), pages 2585-2594.
    • Handle: RePEc:ebl:ecbull:eb-17-00498
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    References listed on IDEAS

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    Cited by:

    1. Sumaira Khawar & Aamir Sarwar, 2021. "Financial literacy and financial behavior with the mediating effect of family financial socialization in the financial institutions of Lahore, Pakistan," Future Business Journal, Springer, vol. 7(1), pages 1-11, December.

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    More about this item

    Keywords

    financial literacy; structural equation model; family background;
    All these keywords.

    JEL classification:

    • C1 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General
    • I2 - Health, Education, and Welfare - - Education

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