Araştırma Makalesi
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FİNANSAL OKURYAZARLIK ÜZERİNE LİTERATÜR İNCELEMESİ

Yıl 2014, Cilt 6, Sayı 11, 33 - 49, 27.01.2015
https://doi.org/10.14784/JFRS.2014117326

Öz

Bu çalışma, önceki araştırmaları temel alarak, finansal okuryazarlığa ilişkin içgörü kazandırmayı amaçlamaktadır. Finansal okuryazarlığa dönük tanımsal meseleler, finansal okuryazarlığın olası içselliği, mevcut literatürde ortaya çıkarılmış öncülleri ve sonculları, finansal okuryazarlıktan başka finansal karar vermede bireysel farklılık yaratabilecek diğer tahmin ediciler, finansal okuryazarlığı ölçme biçimi, hedeflenen anakütle bağlamlarında literatürün yan yana getirilmesi suretiyle bu araştırmalar arasında bazı benzerlik ve farklılıklar ortaya konmuştur. Bu çalışma (i) ortak ve iyi yapılmış bir bir finansal okuryazarlık tanımlamasına ihtiyaç olduğuna, (ii) objektif ölçeklerin bireyler arasındaki finansal okuryazarlığı ölçmede daha iyi olabileceğine, (iii) finansal okuryazarlık yerine geçebilecek değişkenleri kullanmadan önce, sözkonusu değişkenin bireysel etkisi ile finansal okuryazarlık etkisini birbirinden ayırmanın zorluğu üzerine araştırmacıların yeniden düşünmelerine, (iv) finansal okuryazarlığın dışsal bir değişken olmaktan öte mümkün bir içsel değişken olabileceğine, (v) çalışmaların finansal okuryazarlık ile araştırma problemi arasındaki ilişkinin nasıl ortaya çıktığına yönelik açıklamayı içermesine, (vi) araştırma modellerine finansal karar vermeyi etkileyen diğer olası değişkenlerin dâhil edilmesi suretiyle finansal okuryazarlığın görece etkisinin öncelikle değerlendirilmesine işaret etmektedir.

Kaynakça

  • AKERLOF, George.A., SHILLER, Robert J. (2010). Spiritus Animalis (N. Domanic & L. Konyar, Trans.). İstanbul: Scala Yayıncılık.
  • AL-TAMIMI, Hussein A. Hassan, BIN KALLI, Al Anood (2009). Financial literacy and investment decisions of UAE investors, Journal of Risk Finance, Vol. 10, No. 5, pp. 500-516.
  • ANSONG, Abraham. & GYENSARE, Michael Asiedu (2012). Determinants of university working-students’ financial literacy at the University of Cape Coast, Ghana, International Journal of Business and Management, Vol. 7, No. 9, pp. 126-133.
  • ATKİNSON, Adele. and MESSY, Flore-Anne (212). Measuring financial literacy: Results of the OECD / International Network on Financial Education (INFE) Pilot Study, OECD Working Papers on Finance, Insurance and Private Pensions, No. 15, OECD Publishing. http://dx.doi.org/10.1787/5k9csfs90fr4-en
  • BAYER, Patrick J., BERNHEIM, B.Douglas, SCHOLZ, John Karl (1996). The effects of financial education in the workplace: evidence from a survey of employers, National Bureau of Economic Research, NBER Working Paper Series, Working Paper 5655, pp.1-29.
  • CHEN, Haiyang. and VOLPE, Ronald P. (1998). An analysis of personal financial literacy among college students, Financial Services Review, Vol. 7, Iss. 2, pp. 107-128.
  • COLE, Shawn, SAMPSON, Thomas, ZIA, Bilal. (2011). Prices or knowledge? What drives demand for financial services in emerging markets?, Journal of Finance, Vol. 66, No. 6, pp. 1933-1967.
  • DHAR, Ravi, ZHU, Ning (2006 May). Up close and personal: Investor sophistication and the disposition effect, Management Science, Vol. 52, No.5, pp. 726-740.
  • DIACON, Stephen (2004). Investment risk perceptions: Do consumers and advisers agree?, The International Journal of Bank Marketing, Vol. 22, No.3, pp. 180-198.
  • DVORAK, Tomas, HANLEY, Henry. (2010). Financial literacy and the design of retirement plans, Journal of Socio-Economics, Vol. 39, pp. 645-652.
  • GUISO, Luigi and JAPPELLI, Tullio. (2008). Financial literacy and protfolio diversification, European University Institute, Department of Economics, Working Paper ECO 2008/31, pp. 1-36.
  • HILGERTH, Marianne A., HOGARTH, Jeanne M., BEVERLY, Sondra G. (2003 July). Household financial management: The connection between knowledge and behavior, Federal Reserve Bulletin, Vol. 89, pp. 309-322.
  • HOWLETT, Elizabeth, KEES, Jeremy and KEMP, Elyria (2008). The role of self-regulation, future orientation, and financial knowledge in long-term financial decisions, Journal of Consumer Affairs, Vol. 42, No. 2, pp. 223-242.
  • HUSTON, Sandra J. (2010). Measuring Financial Literacy, Journal of Consumer Affairs, Vol. 44, No. 2, pp. 296-316.
  • KINDLE, Peter A. (2010). Student perceptions of financial literacy: Relevance to practice, Journal of Social Service Research, Vol. 36, No. 5, pp. 470-481.
  • LACHANCE, Marie-Eve, TANG, Ning (2012). Financial advice and trust, Financial Services Review, Vol. 21, pp. 209-226.
  • LUDLUM, Marty, TİLKER, Kris, RİTTER, David, COWART, Tammy, XU, Weichu, SMİTH, Brittany Christine (2012). Financial literacy and credit cards: A multi campus survey, International Journal of Business and Social Science, Vol. 3, No. 7, pp. 25-33.
  • LUSARDI, Annamaria, MITCHELL, Olivia S. (2007a). Baby boomer retirement security: the roles of planning, financial literacy, and housing wealth. Journal of Monetary Economics, Vol. 54, PP. 205- 224.
  • LUSARDI, Annamaria, MITCHELL, Olivia S. (2007b). Financial literacy and retirement preparedness: Evidence and implications for financial education, Business Economics, Vol.42, Iss.1, pp.35-44.
  • LUSARDI, Annamaria, MITCHELL, Olivia S. (Oct.2006). Baby boomer retirement security: the roles of planning, financial literacy, and housing wealth. National Bureau of Economic Research, NBER Working Paper Series, Working Paper 12585, pp. 1-39.
  • LUSARDI, Annamaria, MITCHELL, Olivia S., and CURTO, Vilsa (2010). Financial literacy among the young, Journal of Consumer Affairs, Vol. 44, No. 2, pp. 358-380.
  • LUSARDI, Annamaria, MİTCHELL, Olivia S. (2008). Planning and financial literacy: How do women fare?, National Bureau of Economic Research, NBER Working Paper Series, Working Paper 13750, pp. 1-10.
  • MANDELL, Lewis., KLEİN, Linda Schmid (2009). The impact of financial literacy education on subsequent financial behavior, Journal of Financial Counseling and Planning, Vol. 20, Iss.1, pp. 15-24.
  • MCDANIEL, Linda, MARTIN, Rober D., MAINES, Laureen A. (2002). Evaluating financial reporting quality: The effects of financial expertise vs. financial literacy, The Accounting Review, Vol. 77, pp. 139-167.
  • MULLER, Sebastian, WEBER, Martin (2010 April). Financial literacy and mutual fund investments: Who buys actively managed funds?, Schmalenbach Business Review, Vol. 62, pp. 126-153.
  • PERRY, Vanessa G. and MORRİS, Marlene D. (2005). Who is in control? The role of self- perception, knowledge, and income in explaining consumer financial behavior, Journal of Consumer Affairs, Vol. 39, No. 2, pp. 299-313.
  • ROBB, Cliff A. (2011). Financial knowledge and credit card behavior of college students, Journal of Family and Economic Issues, Vol. 32, pp. 690-698.
  • ROBB, Cliff A., WOODYARD, Ann S. (2011). Financial knowledge and best practice behavior, Journal of Financial Counseling and Planning, Vol. 22, Iss.1, pp. 60-70.
  • SERVON, Lisa J., KAESTNER, Robert (2008). Consumer financial literacy and the impact of online banking on the financial behavior of lower-income bank customers, Journal of Consumer Affairs, Vol. 42, No. 2, pp. 271-305.
  • SHAHRABANİ, Shosh. (2012.) The effect of financial literacy and emotions on ıntent to control personal budget: a study among ısraeli college students, International Journal of Economic Finance, Vol. 4, No.9, pp. 156-163.
  • SMİTH, Hyrum, FİNKE, Michael S., and HUSTON, Sandra J. (2011). The impact of financial sophistication on adjustable rate mortgage ownership, Journal of Financial Counseling and Planning, Vol. 22, Iss. 2, pp.3-15.
  • VAN ROOIJ, Maarten, LUSARDI, Annamaria., ALESSI, Rob. (2011). Financial literacy and stock market participation, Journal of Financial Economics, Vol. 101, pp. 449-472.
  • VAN ROOIJ, Maarten, LUSARDI, Annamaria., ALESSI, Rob. (2011). Financial literacy, retirement planning and household wealth, National Bureau of Economic Research, Working Paper 17339, pp. 1-40.
  • VAN ROOIJ, Maarten., LUSARDI, Annamaria, ALESSI, Rob. (2012). Financial literacy, retirement planning and household wealth, Economic Journal, Vol. 122 (May), pp.449-478.
  • VAN ROOIJ, Maarten., KOOL, Clemens J.M., PRAST, Henriette M. (2007). Risk-return preferences in the pension domain: Are people able to choose?, Journal of Public Economics, Vol. 91, pp. 701-722.
  • VAN ROOIJ, Maarten., LUSARDİ, Annamaria, ALESSİ, Rob. (October 2007). Financial literacy and stock market participation, National Bureau of Economic Research, Working Paper 13565, pp.1-46.
  • VASS, Jeff (2012). The case of cross-generational couples’ problem-solving the life course, International Journal of Business and Social Science, Vol. 3, No. 14, pp.166-175.
  • WACHIRA, Mwangi Isaac, KIHIU, Evelyne N. (2012). Impact of financial literacy on access to financial services in Kenya, International Journal of Business and Social Science, Vol. 3, No. 19, pp. 42-50.
  • WANG, Mei, KELLER, Carmen & SIEGRIST, Michael (2011). The less you know, the more you are afraid of-A survey on risk perceptions of investment products, Journal of Behavioral Finance, Vol. 12, Iss. 1, pp. 9-19.
  • YOONG, Folk Jee, SEE, Beh Loo, BARONOVICH Diana-Lea (2012). Financial literacy key to retirement planning in Malaysia, Journal of Management and Sustainability, Vol. 2, No. 1, pp.75-86.

A LITERATURE REVIEW ON FINANCIAL LITERACY

Yıl 2014, Cilt 6, Sayı 11, 33 - 49, 27.01.2015
https://doi.org/10.14784/JFRS.2014117326

Öz

Based on prior research, this paper provides insights regarding financial literacy. Amidst this research, some similarities and contrarinesses have been manifested by juxtaposing this literature in terms of (1) definitional issues on financial literacy, (2) its probable endegoeneity, (3) its determinants and consequences established by the extant research, (4)other probable estimators of financial decision making which would individually make differences aside from financial literacy, (5)manner of measuring it (i.e., subjectiveobjective measures versus proxies, (6) targeted population for finding evidence. This study indicates that (i) there is a need of a common and well-structured definition of financial literacy due to the interchangeably usage of various concepts, all of which mean the financial knowledge level of individual, (ii) objective measures seem to work best in measuring financial literacy among individuals, (iii) researchers should reconsider about proxies for financial literacy in the event that individual effect of proxy may be difficult to be seperated, (iv) it is better to consider that financial literacy may be potentially endogenous variable rather than the exogenous one, (v) studies should present an explicit explanation how the relationship between financial literacy and research problem (e.g., investment preferences) occurred, (vi) relative impact of financial literacy should be preemptively examined by incorporating other potential factors influencing financial decision making into research models

Kaynakça

  • AKERLOF, George.A., SHILLER, Robert J. (2010). Spiritus Animalis (N. Domanic & L. Konyar, Trans.). İstanbul: Scala Yayıncılık.
  • AL-TAMIMI, Hussein A. Hassan, BIN KALLI, Al Anood (2009). Financial literacy and investment decisions of UAE investors, Journal of Risk Finance, Vol. 10, No. 5, pp. 500-516.
  • ANSONG, Abraham. & GYENSARE, Michael Asiedu (2012). Determinants of university working-students’ financial literacy at the University of Cape Coast, Ghana, International Journal of Business and Management, Vol. 7, No. 9, pp. 126-133.
  • ATKİNSON, Adele. and MESSY, Flore-Anne (212). Measuring financial literacy: Results of the OECD / International Network on Financial Education (INFE) Pilot Study, OECD Working Papers on Finance, Insurance and Private Pensions, No. 15, OECD Publishing. http://dx.doi.org/10.1787/5k9csfs90fr4-en
  • BAYER, Patrick J., BERNHEIM, B.Douglas, SCHOLZ, John Karl (1996). The effects of financial education in the workplace: evidence from a survey of employers, National Bureau of Economic Research, NBER Working Paper Series, Working Paper 5655, pp.1-29.
  • CHEN, Haiyang. and VOLPE, Ronald P. (1998). An analysis of personal financial literacy among college students, Financial Services Review, Vol. 7, Iss. 2, pp. 107-128.
  • COLE, Shawn, SAMPSON, Thomas, ZIA, Bilal. (2011). Prices or knowledge? What drives demand for financial services in emerging markets?, Journal of Finance, Vol. 66, No. 6, pp. 1933-1967.
  • DHAR, Ravi, ZHU, Ning (2006 May). Up close and personal: Investor sophistication and the disposition effect, Management Science, Vol. 52, No.5, pp. 726-740.
  • DIACON, Stephen (2004). Investment risk perceptions: Do consumers and advisers agree?, The International Journal of Bank Marketing, Vol. 22, No.3, pp. 180-198.
  • DVORAK, Tomas, HANLEY, Henry. (2010). Financial literacy and the design of retirement plans, Journal of Socio-Economics, Vol. 39, pp. 645-652.
  • GUISO, Luigi and JAPPELLI, Tullio. (2008). Financial literacy and protfolio diversification, European University Institute, Department of Economics, Working Paper ECO 2008/31, pp. 1-36.
  • HILGERTH, Marianne A., HOGARTH, Jeanne M., BEVERLY, Sondra G. (2003 July). Household financial management: The connection between knowledge and behavior, Federal Reserve Bulletin, Vol. 89, pp. 309-322.
  • HOWLETT, Elizabeth, KEES, Jeremy and KEMP, Elyria (2008). The role of self-regulation, future orientation, and financial knowledge in long-term financial decisions, Journal of Consumer Affairs, Vol. 42, No. 2, pp. 223-242.
  • HUSTON, Sandra J. (2010). Measuring Financial Literacy, Journal of Consumer Affairs, Vol. 44, No. 2, pp. 296-316.
  • KINDLE, Peter A. (2010). Student perceptions of financial literacy: Relevance to practice, Journal of Social Service Research, Vol. 36, No. 5, pp. 470-481.
  • LACHANCE, Marie-Eve, TANG, Ning (2012). Financial advice and trust, Financial Services Review, Vol. 21, pp. 209-226.
  • LUDLUM, Marty, TİLKER, Kris, RİTTER, David, COWART, Tammy, XU, Weichu, SMİTH, Brittany Christine (2012). Financial literacy and credit cards: A multi campus survey, International Journal of Business and Social Science, Vol. 3, No. 7, pp. 25-33.
  • LUSARDI, Annamaria, MITCHELL, Olivia S. (2007a). Baby boomer retirement security: the roles of planning, financial literacy, and housing wealth. Journal of Monetary Economics, Vol. 54, PP. 205- 224.
  • LUSARDI, Annamaria, MITCHELL, Olivia S. (2007b). Financial literacy and retirement preparedness: Evidence and implications for financial education, Business Economics, Vol.42, Iss.1, pp.35-44.
  • LUSARDI, Annamaria, MITCHELL, Olivia S. (Oct.2006). Baby boomer retirement security: the roles of planning, financial literacy, and housing wealth. National Bureau of Economic Research, NBER Working Paper Series, Working Paper 12585, pp. 1-39.
  • LUSARDI, Annamaria, MITCHELL, Olivia S., and CURTO, Vilsa (2010). Financial literacy among the young, Journal of Consumer Affairs, Vol. 44, No. 2, pp. 358-380.
  • LUSARDI, Annamaria, MİTCHELL, Olivia S. (2008). Planning and financial literacy: How do women fare?, National Bureau of Economic Research, NBER Working Paper Series, Working Paper 13750, pp. 1-10.
  • MANDELL, Lewis., KLEİN, Linda Schmid (2009). The impact of financial literacy education on subsequent financial behavior, Journal of Financial Counseling and Planning, Vol. 20, Iss.1, pp. 15-24.
  • MCDANIEL, Linda, MARTIN, Rober D., MAINES, Laureen A. (2002). Evaluating financial reporting quality: The effects of financial expertise vs. financial literacy, The Accounting Review, Vol. 77, pp. 139-167.
  • MULLER, Sebastian, WEBER, Martin (2010 April). Financial literacy and mutual fund investments: Who buys actively managed funds?, Schmalenbach Business Review, Vol. 62, pp. 126-153.
  • PERRY, Vanessa G. and MORRİS, Marlene D. (2005). Who is in control? The role of self- perception, knowledge, and income in explaining consumer financial behavior, Journal of Consumer Affairs, Vol. 39, No. 2, pp. 299-313.
  • ROBB, Cliff A. (2011). Financial knowledge and credit card behavior of college students, Journal of Family and Economic Issues, Vol. 32, pp. 690-698.
  • ROBB, Cliff A., WOODYARD, Ann S. (2011). Financial knowledge and best practice behavior, Journal of Financial Counseling and Planning, Vol. 22, Iss.1, pp. 60-70.
  • SERVON, Lisa J., KAESTNER, Robert (2008). Consumer financial literacy and the impact of online banking on the financial behavior of lower-income bank customers, Journal of Consumer Affairs, Vol. 42, No. 2, pp. 271-305.
  • SHAHRABANİ, Shosh. (2012.) The effect of financial literacy and emotions on ıntent to control personal budget: a study among ısraeli college students, International Journal of Economic Finance, Vol. 4, No.9, pp. 156-163.
  • SMİTH, Hyrum, FİNKE, Michael S., and HUSTON, Sandra J. (2011). The impact of financial sophistication on adjustable rate mortgage ownership, Journal of Financial Counseling and Planning, Vol. 22, Iss. 2, pp.3-15.
  • VAN ROOIJ, Maarten, LUSARDI, Annamaria., ALESSI, Rob. (2011). Financial literacy and stock market participation, Journal of Financial Economics, Vol. 101, pp. 449-472.
  • VAN ROOIJ, Maarten, LUSARDI, Annamaria., ALESSI, Rob. (2011). Financial literacy, retirement planning and household wealth, National Bureau of Economic Research, Working Paper 17339, pp. 1-40.
  • VAN ROOIJ, Maarten., LUSARDI, Annamaria, ALESSI, Rob. (2012). Financial literacy, retirement planning and household wealth, Economic Journal, Vol. 122 (May), pp.449-478.
  • VAN ROOIJ, Maarten., KOOL, Clemens J.M., PRAST, Henriette M. (2007). Risk-return preferences in the pension domain: Are people able to choose?, Journal of Public Economics, Vol. 91, pp. 701-722.
  • VAN ROOIJ, Maarten., LUSARDİ, Annamaria, ALESSİ, Rob. (October 2007). Financial literacy and stock market participation, National Bureau of Economic Research, Working Paper 13565, pp.1-46.
  • VASS, Jeff (2012). The case of cross-generational couples’ problem-solving the life course, International Journal of Business and Social Science, Vol. 3, No. 14, pp.166-175.
  • WACHIRA, Mwangi Isaac, KIHIU, Evelyne N. (2012). Impact of financial literacy on access to financial services in Kenya, International Journal of Business and Social Science, Vol. 3, No. 19, pp. 42-50.
  • WANG, Mei, KELLER, Carmen & SIEGRIST, Michael (2011). The less you know, the more you are afraid of-A survey on risk perceptions of investment products, Journal of Behavioral Finance, Vol. 12, Iss. 1, pp. 9-19.
  • YOONG, Folk Jee, SEE, Beh Loo, BARONOVICH Diana-Lea (2012). Financial literacy key to retirement planning in Malaysia, Journal of Management and Sustainability, Vol. 2, No. 1, pp.75-86.

Ayrıntılar

Birincil Dil İngilizce
Konular Sosyal
Bölüm Makaleler
Yazarlar

Selim AREN>


Sibel DİNÇ AYDEMİR Bu kişi benim

Yayımlanma Tarihi 27 Ocak 2015
Başvuru Tarihi 27 Ocak 2015
Kabul Tarihi
Yayınlandığı Sayı Yıl 2014, Cilt 6, Sayı 11

Kaynak Göster

Bibtex @araştırma makalesi { marufacd4606, journal = {Finansal Araştırmalar ve Çalışmalar Dergisi}, issn = {1309-1123}, eissn = {2529-0029}, address = {}, publisher = {Marmara Üniversitesi}, year = {2015}, volume = {6}, number = {11}, pages = {33 - 49}, doi = {10.14784/JFRS.2014117326}, title = {A LITERATURE REVIEW ON FINANCIAL LITERACY}, key = {cite}, author = {Aren, Selim and Dinç Aydemir, Sibel} }
APA Aren, S. & Dinç Aydemir, S. (2015). A LITERATURE REVIEW ON FINANCIAL LITERACY . Finansal Araştırmalar ve Çalışmalar Dergisi , 6 (11) , 33-49 . DOI: 10.14784/JFRS.2014117326
MLA Aren, S. , Dinç Aydemir, S. "A LITERATURE REVIEW ON FINANCIAL LITERACY" . Finansal Araştırmalar ve Çalışmalar Dergisi 6 (2015 ): 33-49 <https://dergipark.org.tr/tr/pub/marufacd/issue/508/4606>
Chicago Aren, S. , Dinç Aydemir, S. "A LITERATURE REVIEW ON FINANCIAL LITERACY". Finansal Araştırmalar ve Çalışmalar Dergisi 6 (2015 ): 33-49
RIS TY - JOUR T1 - FİNANSAL OKURYAZARLIK ÜZERİNE LİTERATÜR İNCELEMESİ AU - SelimAren, SibelDinç Aydemir Y1 - 2015 PY - 2015 N1 - doi: 10.14784/JFRS.2014117326 DO - 10.14784/JFRS.2014117326 T2 - Finansal Araştırmalar ve Çalışmalar Dergisi JF - Journal JO - JOR SP - 33 EP - 49 VL - 6 IS - 11 SN - 1309-1123-2529-0029 M3 - doi: 10.14784/JFRS.2014117326 UR - https://doi.org/10.14784/JFRS.2014117326 Y2 - 2022 ER -
EndNote %0 Finansal Araştırmalar ve Çalışmalar Dergisi A LITERATURE REVIEW ON FINANCIAL LITERACY %A Selim Aren , Sibel Dinç Aydemir %T A LITERATURE REVIEW ON FINANCIAL LITERACY %D 2015 %J Finansal Araştırmalar ve Çalışmalar Dergisi %P 1309-1123-2529-0029 %V 6 %N 11 %R doi: 10.14784/JFRS.2014117326 %U 10.14784/JFRS.2014117326
ISNAD Aren, Selim , Dinç Aydemir, Sibel . "A LITERATURE REVIEW ON FINANCIAL LITERACY". Finansal Araştırmalar ve Çalışmalar Dergisi 6 / 11 (Ocak 2015): 33-49 . https://doi.org/10.14784/JFRS.2014117326
AMA Aren S. , Dinç Aydemir S. A LITERATURE REVIEW ON FINANCIAL LITERACY. JFRS. 2015; 6(11): 33-49.
Vancouver Aren S. , Dinç Aydemir S. A LITERATURE REVIEW ON FINANCIAL LITERACY. Finansal Araştırmalar ve Çalışmalar Dergisi. 2015; 6(11): 33-49.
IEEE S. Aren ve S. Dinç Aydemir , "A LITERATURE REVIEW ON FINANCIAL LITERACY", Finansal Araştırmalar ve Çalışmalar Dergisi, c. 6, sayı. 11, ss. 33-49, Oca. 2015, doi:10.14784/JFRS.2014117326