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Can personality traits influence Brazilian university students' financial literacy?

Author

Listed:
  • Marco Antonio de Oliveira Vieira Goulart
  • Newton Carneiro Affonso da Costa Jr
  • Ana Luiza Paraboni
  • Mônica Maria Mendes Luna

Abstract

Purpose - The objective of the present study is to assess the financial literacy levels of students at a Brazilian university and investigate how these levels are affected by profile characteristics and personality traits. Design/methodology/approach - Data were collected using SurveyMonkey, and a link to the questionnaire was sent by e-mail. The questionnaire contains three blocks of questions: demographics, financial literacy and personality traits. Ordered logistic regression was applied to a sample of 1,312 students. Findings - Younger participants, those with higher incomes and men were more likely to have a high level of financial literacy. The same was true of those who were less extrovert, i.e. assertive, sociable, optimistic and communicative students. These results contribute to the field by indicating which population segments should be prioritized in efforts to promote financial literacy. Originality/value - To the best of our knowledge, no study has compared Financial Literacy and Personality Traits in Brazil, a developing country that is only beginning to develop national financial literacy strategies.

Suggested Citation

  • Marco Antonio de Oliveira Vieira Goulart & Newton Carneiro Affonso da Costa Jr & Ana Luiza Paraboni & Mônica Maria Mendes Luna, 2022. "Can personality traits influence Brazilian university students' financial literacy?," Review of Behavioral Finance, Emerald Group Publishing Limited, vol. 15(3), pages 410-426, February.
    • Handle: RePEc:eme:rbfpps:rbf-12-2021-0259
    DOI: 10.1108/RBF-12-2021-0259
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    More about this item

    Keywords

    Financial literacy; Personality traits; University students; Behavioral sciences; Emerging countries; D10; D14; D91;
    All these keywords.

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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