The Role of Learning Motivation on Financial Knowledge Among Vietnamese College Students
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Phung, Trang MT
Tran, Quoc N
Nguyen‐Hoang, Phuong
Nguyen, Nhut H
Nguyen, Tho H
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Wiley
Abstract
Using survey data from 730 undergraduates in Vietnam, we find that learning motivation and its components, especially self-efficacy, finance learning value, and achievement goals, significantly correlate with students' financial literacy performance. In addition, these correlations are moderated by student characteristics, among which academic seniority, university type, parents' education, and extra math study during high school matter the most. Our results raise significant implications to policymakers, researchers, and educators that include understanding the role of motivation and incorporating it in financial literacy education and intervention programs and considering the moderation roles that individuals' characteristics play in the motivation-financial literacy link. We encourage more research in these areas.
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35 Commerce, Management, Tourism and Services, 3506 Marketing, Clinical Research, Pediatric Research Initiative, Behavioral and Social Science, 4 Quality Education, 1505 Marketing, Marketing, financial knowledge, financial literacy, motivation, self-efficacy, Vietnam
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Journal of Consumer Affairs, ISSN: 0022-0078 (Print); 1745-6606 (Online), Wiley, 57(1), 529-563. doi: 10.1111/joca.12511
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© 2023 The Authors. Journal of Consumer Affairs published by Wiley Periodicals LLC on behalf of American Council on Consumer Interests. Open access.
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Except where otherwise noted, this item's license is described as Creative Commons Attribution-NonCommercial-NoDerivs