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China's New Rural Pension Program (NRPP) has been implemented for a decade, but the factors that facilitate rural residents' participation have received little attention. This study aims to investigate whether financial literacy has an influence on rural residents' behavior of participation in the NRPP. In particular, this study further verifies if high financial literacy is important and whether financial education can enhance the impact of financial literacy on current, long-term and dynamic pension decisions of rural households.

This study investigates the impact of financial literacy on rural residents' participation in China's NRPP using the China Household Financial Survey (CHFS) Data of 2015 and 2017. This study constructs an analytical framework for current, long-term and dynamic impacts and comprehensively analyzes the value of financial literacy in the decision making of the NRPP. This study uses the instrumental variable method to solve the possible endogeneity problem. In addition, the authors also demonstrate the positive role of high financial literacy in household pension decisions. Further analysis reveals gender and regional heterogeneity in the impact of financial literacy on pension decisions. The moderating effect model explores whether financial education has a significant moderating effect on financial literacy and pension decision making of the NRPP.

Financial literacy can improve the participation behavior of households in rural areas (dynamic effect) and promote their current and long-term participation in the NRPP, choosing a higher pension contribution level in the NRPP. However, financial literacy has no significant effect on the change in the contribution amount of the NRPP. Further research finds that high financial literacy has comparative advantages in household pension decision making in rural areas. There are gender and regional differences in the impact of financial literacy on pension decisions. In addition, effective financial literacy education enhances the current, long-term and dynamic impacts of residents' financial literacy on NRPP participation and pension contributions.

This study comprehensively considers the impact of financial literacy on pension decision making behavior from three aspects: current, long-term and dynamic, making up for the dearth in the existing literature that only focuses on the impact of financial literacy on current financial behaviors and bridging the gap between the theoretical framework and experimental results. Our study proposes new policy implications: (1) Governments and financial institutions should pay attention to financial literacy and education levels in rural areas and carry out financial education and training programs to increase social welfare levels by increasing rural residents' participation and pension contribution. (2) The community can strengthen the policy advocacy of the NRPP and make people develop a stronger sense of trust toward it. The government can also subsidize individual accounts through financial support.

This study comprehensively considers the impact of financial literacy on pension decision-making behavior from three aspects: current, long-term and dynamic, making up for the dearth in the existing literature that only focuses on the impact of financial literacy on current financial behaviors and bridging the gap between the theoretical framework and experimental results. Our study proposes new policy implications: (1) Governments and financial institutions should pay attention to financial literacy and education levels in rural areas and carry out financial education and training programs to increase social welfare levels by increasing rural residents' participation and pension contribution. (2) The community can strengthen the policy advocacy of the NRPP and make people develop a stronger sense of trust toward it. The government can also subsidize individual accounts through financial support.

This study aims to examine financial socialization based on augmented reality (AR) technology for elementary school students, which it is hoped will improve their sharia financial knowledge.

The experimental method with pre- and post-test and control groups was used to test the improvement in the young learners’ sharia financial knowledge. This study used AR for sharia financial socialization on elementary school students and focused on sharia’s basic concepts, which include earning money, balanced spending, borrowing, saving, investment, payment methods, financial technology and the concept of protection.

This study finds empirical evidence that the treatment group, who received sharia financial socialization via the AR media, increased their sharia financial knowledge to a greater extent than the control group did.

This study provides encouraging evidence about the potential of sharia financial education for elementary school students using the appropriate learning strategies and media. The weakness in this study is that it was only carried out in one elementary school, with the children of middle- to upper-income parents. Further research should be undertaken at several schools with the children of parents with different income levels.

A shift in learning styles from verbal or visual to virtual encourages the use of AR-based learning media. Financial concepts can be abstract ones, and AR-based learning media is able to present intangible virtual elements so they become more concrete and tangible.

The global COVID-19 pandemic has affected all aspects. One of the most severe and likely to be multiyear ahead is the financial aspect. Therefore, this research is expected to be a preparation for the younger generation as early as possible to strengthen social benefits in order to improve sharia financial literacy.

Research into the financial literacy, especially sharia financial literacy aimed at elementary school students, is still very limited. The teaching of financial literacy will be more effective if educators use the appropriate strategies and media. This study used financial socialization strategies and AR learning media that are aligned with the learning styles of young learners.

Financial literacy is generally seen as an important factor explaining a broader set of investment behaviors. In the context of a weak financial knowledge in France, this article focuses on the particular situation of Generation Z (individuals born after 1995) and more particularly management students likely to be involved in financial decisions in the near future.

The analysis is based on a survey conducted in the Fall of 2019, through a questionnaire distributed to 300 students enrolled in a French business school.

The results indicate that financial knowledge is poor for students who do not follow a specialized course in finance. This research also demonstrates the importance of risk behavior, showing that risk adverse students are also those with the lowest level of financial literacy.

This article contributes to the academic literature by focusing on students in France. It is the first study to examine Gen Z financial literacy and its implications. It raises awareness on the importance of financial education in the education curriculum.

The purpose of the paper is to examine the financial management behavior (FMB) mediation mechanism in self-control, optimism, deliberative thinking and investment decisions in the Tanzanian stock market.

A sample of 268 individual investors in the Tanzanian stock market was obtained through questionnaires. The data were analyzed using structural equation modeling.

The findings show that self-control, optimism and deliberative thinking are significantly and positively related to FMB and investment decisions. The findings also confirmed the mediating role of FMB in the influence of self-control, optimism and deliberative thinking on investment decisions among Tanzanian individual investors. These findings imply that people with good self-control, optimistic and deliberative thinking are more likely to save money, have better FMB and prefer to make investment decisions.

The study deals with individual investors. Future research could examine the effects of psychological traits on investment decisions by adding or modifying the items of particular constructs and studying institutional investors.

Individual investors can use the information to study and evaluate their financial behavior and stock investment decisions. This research can be used by security firms to better understand investor behavior, forecast future market trends and advice investors. Individual investors require psychological features to manage their behavior in various aspects, ranging from affective behavior to cognition, which are relevant for investing decisions.

Few studies have examined the influence of self-control, optimism and deliberative thinking on the investment decisions of individual investors. The unique empirical analysis developed in this paper is that it examines the mediation mechanisms of FMB with respect to self-control, optimism and deliberative thinking and investment decisions among individual investors in the Tanzanian stock market.

With the rapid development of the economy in China, the wealth of residents has continued to increase, and most families have gradually been aware of the importance of commercial insurance. The family purchase of insurance in China was still not optimistic. Many scholars focus on wealth allocation, but the attention to the commercial insurance market was still less. Based on previous research studies, this study aims to investigate the impact of education and financial literacy on the commercial insurance purchase in China.

China Household Finance Survey data was used to investigate the purchase of commercial insurance in Mainland Chinese families. Factor analysis was used to construct financial literacy, and the education data were combined to analyze the commercial insurance purchase using the Probit model and the Tobit model. Finally, the contributions of education and financial literacy to commercial insurance purchases were analyzed.

Both education and financial literacy exerted a positive impact on the purchase of commercial insurance in China. Individual characteristics such as gender, age, marital status, risk attitude, purchase of social insurance and consultation with a financial advisor possessed significant effects; household factors like household size and assets, macro factors such as the density of financial institutions and the density of financial industry staff, and regional factors as local unemployment rate excreted influences on the commercial insurance purchase.

Based on the current economic development in China, this study investigated and expressed opinions on the public and insurance companies regarding commercial insurance purchases. It accentuated financial literacy and education as factors that facilitated commercial insurance development.

This study examined the relationship between financial information seeking behavior and financial literacy, as well as the relationship between parents' teaching and behavior with financial information seeking behavior through the factors of the risk information seeking and processing model among youth.

A sample of 802 tertiary education students participated in this cross-sectional study. Using covariance-based structural equation modeling, the model was assessed and hypotheses were tested.

The results revealed that financial information seeking behavior contributed to youth's financial literacy. While parents' sound financial behavior was directly related to seeking financial information, both parents' financial teaching and behavior indirectly, through the risk information seeking process, encouraged youth to actively seek for financial information. Moreover, parents' financial socialization directly and also indirectly through the risk information seeking and processing model explained youth's financial information avoidance. Among the two parts of the risk information seeking and processing model, planned behavior factors played a more salient role than cognitive need for financial information.

This study extends the risk information seeking and processing model by integrating family financial socialization to the model and applies it in the context of consumers' financial behavior. The results improve our understanding of the social and psychological mechanism that drives consumers' financial literacy and decision-making.

Purpose: This chapter presents criticisms of financial inclusion.

Methodology: This chapter uses critical discourse analysis to critique the modern financial inclusion agenda.

Findings: The findings reveal that (i) financial inclusion is an invitation to live by finance and leads to the financialization of poverty; (ii) some of the benefits of financial inclusion disappear after a few years; (iii) financial inclusion ignores how poverty affects financial decision-making; (iv) it promotes digital money which is difficult to understand; (v) financial inclusion promotes the use of transaction accounts; (vi) digital money is difficult to understand; and that (vii) some financial inclusion efforts bear a resemblance to a campaign against having cash-in-hand.

Implication: This study will help policymakers in their assessment of the economic, social, political, and cultural factors that hinder financial inclusion as well as the consequence of financial inclusion for society. For academics, this study will provide a critical perspective to on-going financial inclusion debates in the large positivist literature on financial inclusion.

Originality: Currently, there are no studies that use critical discourse analysis to analyze the broader concept of financial inclusion. This chapter is the first study that uses critical discourse analysis to critique some aspects of the modern financial inclusion agenda.

This paper aims to empirically compare the degree to which two technological interventions, based on the computer-supported collaborative learning (CSCL) and the technology acceptance model (TAM), were associated with a different incidence of financial biases.

The study adopted a quasi-experimental research design. The authors randomly assigned the participants (N = 507) to one of two training conditions or a control group, and in turn, we assessed the incidence of financial biases after the training interventions.

Participants who took part in the TAM-based group reported lower financial biases than those in the CSCL-based training group and the control group.

Literature suggests that two educational approaches, i.e. the CSCL and the TAM, can implement individuals’ financial decision-making. These educational approaches involve technology to support individuals in reducing the incidence of cognitive biases. This study contributes by advancing empirical evidence on technological supports for interventions to improve financial decision-making.

Suboptimal decision-making may lead to adverse consequences both at the individual and social levels. This paper contributes to the literature on debiasing interventions by offering initial evidence on technological-based interventions in the domain of financial decision-making. The authors discuss the application of this evidence in lifelong training.

This study provides evidence on how different technological interventions are associate with a lower incidence of financial biases.

The purpose of this paper is to describe how librarians used elements of market research, advertising and media literacy in a personal finance class.

Librarians each semester guest lecture one session in a personal finance class “Foundations of Money Education.” Through this class, librarians present engaging material about market research and advertising in an effort to encourage students to think about how these external forces influence their spending behavior.

Students appreciate learning about advertising through the engaging use of commercials. While responses were mixed as to the applicability of the topic, the majority of students agreed that the topic was a worthwhile addition to the personal finance curriculum.

Topics such as budgets, savings, and mortgages are typically taught in personal finance classes. Teaching information about market research and advertising is a topic that is usually not covered in a personal finance class.