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Entrepreneurship and Sustainability Issues Open access
Journal Impact FactorTM (2023) 1.2 Q4
Journal Citation IndicatorTM (2023) 0.33 Q3
Received: 2022-08-26  |  Accepted: 2022-10-11  |  Published: 2022-12-30

Title

Analysis of Financial Literacy among High school students, graduates, and young professionals in German


Abstract

This research paper aims to examine various factors influencing the financial literacy of high school students, graduates, and young professionals. Although the academic literature has dealt extensively with the factors influencing financial literacy, no current study focuses on Germany and explicitly on the group of young people with an upper educational level. The empirical research undertaken primarily examines the influence of different manifestations of academic status, income, gender, and origin on the degree of financial literacy. In this context, financial literacy is approximated using the scientifically established set of questions, the so-called “Big Three” questions. A total of over 500 participants were surveyed. To evaluate the results, a simple linear regression model is formulated for each hypothesis and then tested for significance using the T-test. Subsequently, a multivariate regression model based on the significant influencing factors is specified and tested again. Thereby, the examined factor of gender is highly significant. Immigration background also influences financial literacy. Findings related to education, background, and income were often inconclusive or weak. No influence of the place of residence, the parent´s educational level, or a practice-related education on financial literacy could be found.


Keywords

financial education, financial literacy, gender gap, high school students, graduates, young professionals


JEL classifications

A23 , C12 , G53


URI

http://jssidoi.org/jesi/article/1010


DOI


Pages

23-42


Funding


This is an open access issue and all published articles are licensed under a
Creative Commons Attribution 4.0 International License

Authors

Hammer, Thomas
UCAM Universidad Católica San Antonio de Murcia, Murcia, Spain https://www.ucam.edu
Articles by this author in: CrossRef |  Google Scholar

Zureck, Alexander
FOM University of Applied Sciences, Essen, Germany https://www.fom.de
Articles by this author in: CrossRef |  Google Scholar

Journal title

Entrepreneurship and Sustainability Issues

Volume

10


Number

2


Issue date

December 2022


Issue DOI


ISSN

ISSN 2345-0282 (online)


Publisher

VšĮ Entrepreneurship and Sustainability Center, Vilnius, Lithuania

Cited

Google Scholar

Article views & downloads

HTML views: 1801  |  PDF downloads: 713

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