DOIONLINE 
DOIONLINE Publish In |
International Journal of Management and Applied Science (IJMAS)-IJMAS |
 Journal Home Volume Issue |
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Issue |
Volume-3,Issue-10 ( Oct, 2017 ) | |||||||||
Paper Title |
Importance of Financial Knowledge and Self-Esteem in Determining Individuals’ Financial Behavior | |||||||||
Author Name |
Muhammad Kashif Javed, Ma Degong, Talat Qadeer | |||||||||
Affilition |
Sichuan University School of Economics, Chengdu (610065), P. R. China, Sichuan University School of Economics, Chengdu (610065), P. R. China, Business School of Sichuan University, Chengdu (610064), P. R. China | |||||||||
Pages |
46-50 | |||||||||
Abstract |
Individuals may hesitate to manage finance even with a positive evaluation due to the daunting financial process. Therefore, this study divided financial knowledge into objective and subjective knowledge and analysed its impact on financial behaviour, while also directly and indirectly examining the impact of self-esteem as a psychological trait using subjective financial knowledge as a theoretical model. Hence, this study emphasized that although objective knowledge is important for managing finance, subjective knowledge cannot be ignored because the amount of information does not matter as long as it is precise and accurate. Further, the significance of self-esteem as a psychological trait was also highlighted in explaining an individual's financial behaviour. Index Terms— Self-esteem, Financial knowledge, Financial behaviour. | |||||||||
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