RT Journal Article
T1 How does financial literacy influence undergraduates’ risk-taking propensity?
A1 Molina-García, Antonio
A1 Cisneros-Ruiz, Ana José
A1 López-Subires, María Deseada
A1 Diéguez-Soto, Julio
K1 Finanzas - Estudio y enseñanza superior
AB Previous evidence is contradictory about the financial literacy-individual’s risk-taking propensity relationship. Therefore, this article attempts to examine the relationship between financial literacy and risk-taking propensity in a university environment, considering for the first time the financial literacy’s multidimensional nature (i.e., financial knowledge, financial attitude, and financial behaviour). Applying Covariance-Based Structural Equation Models to 568 Spanish undergraduates, our results show that: (1) financial knowledge and financial behaviour directly and positively affect risk-taking propensity; (2) financial attitude indirectly and positively affects risk-taking propensity through financial behaviour. These findings are relevant since they provide new insights into the association mechanism that explains the financial literacy-undergraduates’ risk-taking propensity relationship.
PB Elsevier
YR 2023
FD 2023
LK https://hdl.handle.net/10630/27130
UL https://hdl.handle.net/10630/27130
LA eng
NO Antonio Molina-García, Ana José Cisneros-Ruiz, María Deseada López-Subires, Julio Diéguez-Soto, How does financial literacy influence undergraduates’ risk-taking propensity?, The International Journal of Management Education, Volume 21, Issue 3, 2023, 100840, ISSN 1472-8117, https://doi.org/10.1016/j.ijme.2023.100840.
NO Antonio Molina-García’s work was funded by the Spanish Ministry of Education and Vocational Training (FPU) (FPU20/02328).Funding for open access charge: Universidad de Málaga / CBUA.
DS RIUMA. Repositorio Institucional de la Universidad de Málaga
RD 20 ene 2026