Psychology: Techniques and Application

Psychology: Techniques and Application ›› 2018, Vol. 6 ›› Issue (8): 459-464.doi: 10.16842/j.cnki.issn2095-5588.2018.08.002

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The Concept, Construct and Measurement of Financial Knowledge

  

  1. (1 School of Sociology and Psychology, Central University of Finance and Economics, Beijing 100081, China) (2 School of Economics, Central University of Finance and Economics, Beijing 100081, China) (3 China Academy of Public Finance and Public Policy, Central University of Finance and Economics, Beijing 100081, China)
  • Online:2018-08-01 Published:2018-08-21

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Abstract: Financial knowledge is an important part of the “triarchic structure” of financial literacy. Existing studies have some confusions in the concept, construct, and measurement of financial knowledge. This article reviews the literature in this field, and proposes that financial knowledge needs to be distinguished from financial capabilities and general capabilities, and focus on important financial concepts and principles that are closely related to the daily lives of Chinese citizens. Its structure contains the following four aspects, daily income and expenditure, financial management, risk prevention and financial landscape. Future research should use this framework as a basis to establish a standardized financial knowledge test to further verify the rationality of this content structure, and to examine the relationship between financial knowledge and financial capabilities, financial values, and the predictive role to financial behavior.

Key words: financial knowledge, financial literacy, financial behavior

CLC Number: 

  • B84-05
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