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The low level of financial literacy among young adults is a pressing concern at both individual and country levels. Therefore, there is a dire need to understand the best-worst antecedents of financial literacy and how they influence each other.

A two-phased multicriteria decision-making (MCDM) technique consisting of best-worst method and interpretive structural modeling (BWM-ISM) was employed for pair-wise comparison, assigning weights, ranking and establishing the relationship among antecedents of financial literacy.

Results suggest that use of Internet (SF1), role of financial advisors (SF3) and education level of individuals (DS7) are top ranked antecedents, whereas masculinity/feminity, language and power distance in society are the least ranked antecedents of financial literacy. Findings will help both academicians and practitioners focus on the key factors and make efforts to increase financial literacy by minimizing resource usage.

The current study provides clarity among antecedents of financial literacy by following BWM-ISM approach for the first time in the financial literacy context.

The peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2022-0746

This study aims to test a moderated mediation model for a twofold purpose. First, to examine the mediating role of financial capability (FC) in the association between financial literacy (FL) and financial well-being (FW). Second, to analyze if non-impulsive future-oriented behavior (NIB) moderates the associations of FL with FC and FL with FW.

The authors use the PROCESS macros in IBM SPSS Statistics to test the moderated mediation model and analyze the 2016 wave of the Household, Income and Labor Dynamics in Australia Survey.

The empirical analysis shows that FC partially mediates the association between FL and FW. Furthermore, the moderated mediation analysis shows that NIB strengthens the associations of FL with FC and FL with FW. Specifically, the positive associations of FL with FC and FL with FW significantly increase for those consumers who score high on NIB.

The findings have implications for the financial services industry. Professional financial planners can positively improve the ability of consumers to deal with their financial matters by highlighting the importance of FL and NIB.

The study findings suggest educating consumers to discourage impulsive behavior and encourage them to create financial plans as it will enhance their ability to conduct financial tasks efficiently, improving their FW.

To the authors’ knowledge, this is the first study to assess a moderated mediation model, which examines the role of FC as a mediator variable and NIB as a moderator variable in the association between FL and FW.

The authors investigate the role of financial literacy in influencing the relationship between human capital and social capital, with access to finance of micro, small and medium enterprises (MSMEs).

Data were gathered from 337 MSMEs in Brunei Darussalam, and analysis on the data was carried out using a number of statistical methods. The relationships between human capital, social capital, financial literacy and access to finance were analyzed using PLS-SEM.

The results show that human capital does influence access to finance but contrary to previous studies, the influence is negative. Financial literacy is an important element in the relationship between human capital, social capital and access to finance, although it plays a greater role in the relationship between social capital and access to finance. Further analysis shows that financial knowledge is significant in moderating the relationships between human and social capital with access to finance. Financial skills is found to only moderate the relationship between social capital and access to finance.

To the authors' knowledge, this study is the first that integrates the human capital, social capital, financial literacy and access to finance in a single model. The authors also highlight the importance of enhancing the financial literacy of MSMEs so that the problem of access to finance can be alleviated, especially in developing countries.

This paper aims to analyse how financial literacy (FL) is conceptualised and operationalised in the Indian context.

A systematic literature review (SLR) was conducted using the Preferred Reporting Items for Systematic Reviews and Meta-analyses (PRISMA) protocol. Thirty-six articles published between 2010 and 2020 were considered for analysis. The FL conceptualisation was examined based on knowledge, ability, skill, attitude and confidence elements. The FL operationalisation was analysed using the modified version of the Organisation for Economic Co-operation and Development’s (OECD) Programme for International Student Assessment (PISA) 2012 model for organising the domain for an assessment framework.

The findings indicate that, despite offering operationalisation details of the FL, 13 out of 36 studies did not include a conceptual definition of FL. Of the 23 studies that mentioned a conceptual definition, 87% are primarily focused on the “knowledge” element and only 39% have combined knowledge, ability/skill and attitude elements in defining FL. As in the developed countries, the Indian studies also preferred investment/saving-related contents in their FL measures. The volume of content focusing on the financial landscape is meagre amongst the FL measures used in India and developed countries. The survey instruments of most studies have been designed in the individuals’ context but have failed to measure the extent to which individuals apply the knowledge in performing their day-to-day financial transactions. Further, it was found that 20 out of 36 studies did not convert the FL level of their target groups into a single indicator or operational value.

To the best of our knowledge, this is the first study that explores the FL’s assessment practices in India. Further, this study offers new insights by comparing the contents of FL measures used in Indian studies with those used in developed countries.

The article makes a modest attempt to explore the level of financial literacy (FL) amongst the farmers in India. An effort was also made to unearth the factors affecting such FL.

The study used secondary data on 11,030 farmers across various regions of India from the Financial Inclusion Insight Survey, 2017. Standard and Poor Global FL questions were used to measure the level of FL amongst the respondents. In addition to the appropriate statistical tools and techniques, the censored tobit regression model and generalized structural equation model were applied to explore the determinants of FL of the Indian farmers.

The outcome of the study indicated that the majority of Indian farmers are financially illiterate. The average FL score obtained by the sample farmers was found to be only 33%. The results of the study signaled significant regional variation in FL amongst the farmers across India. Apart from the regional variation in FL, farmer type, state-specific agricultural productivity, gender, marital status, age, educational attainment and financial inclusion were found to be the major determinants of the FL amongst the farmers.

Evaluation of FL amongst farmers is scanty in the literature in developed nations and especially in the context of emerging economies, like India. The authors tried to fill this gap by exploring FL and its determinants amongst Indian farmers. In addition to this, the study for the first time used a comprehensive and rich dataset of 11,030 Indian farmers while exploring the level of FL and its determinants.

The purpose of this paper is to review the main methods used in the literature to measure financial literacy (FL) of individuals.

The paper begins by describing how the different items used to measure the FL level of individuals are constructed. Then, it focuses on how do researchers select the items. Finally, it reviews the different calculation methods used in the literature to assess the FL level.

FL as a concept is tough to define and measure. Several studies focus on the definition and the measure of this concept. Different items are used in the literature and are mostly related to the study topics. The used calculation methods differ across the different studies.

This paper sheds light on the principal methodologies used in the literature to measure FL. It highlights the relationship between the items' content areas and the studies' subjects. Thus, this paper suggests guidance for future studies on measuring methods of FL.

In an emerging economy like India, the contribution of Indians in the stock market is very low, despite having the highest percentage of savings. The research tries to look for the variables which influence the investor's intentions to invest in the Indian stock market, by considering the theory of planned behavior (TPB). Moreover, the study incorporates financial literacy (FL) in the model to examine its influence on investors’ investment intention and also examine the moderation effect of financial literacy.

Data were collected using a structured questionnaire from a sample of 393 respondents by using the convenience sampling method which is followed by the snowball sampling technique. For testing the research hypotheses, SEM and PROCESS macro v3.0 for SPSS were taken into consideration.

The results explain that factors of TPB i.e. attitude (AT), subjective norms (SNs) and perceived behavioral control (PBC) are significantly associated with investment intentions (IIs). Furthermore, along with the original components of the TPB model, Financial Literacy (FL) was also incorporated in the model, which predicted the investors' intention better. The results also stated that FL has a positive impact on AT, PBC and II. Moreover, results reveal that FL moderates the association between AT, PBC and II.

The study describes that financial literacy can help in increasing the participation of investors in the stock market. Therefore, in this situation, the current research permits the Security Exchange Board of India (SEBI), governments and financial institutions (FIs) to plan and design seminars or courses, programs, to enhance FL among individuals and promote individuals in making well-organized and efficient investment decisions in stock markets that will in turn upsurge individual investors participation. The study contributes to the existing literature of investment behavior by incorporating FL as a moderator. Research avoids considering actual investment behavior. The study also neglects demographic and socio-psychological factors which are the major factor that affects an investment decision. Furthermore, the research has only considered the objective dimension of FL.

The current research tries to incorporate FL in TPB model. Moreover, tries to examine the moderation effect of FL. The research is one of its kind as the past research neglect to examine the moderation effect of FL in relationship between AT, PBC and investment intension to investment in stock market. The research helps to understand how FL encourages investors to invest in the Indian stock market.

The objective of this study is to ascertain the financial literacy (FL) of the farmers in three South Asian economies (India, Bangladesh and Pakistan). Further, an effort was made to explore various demographic and socioeconomic antecedents of FL of the farmers.

The study used secondary data of 11,025, 782 and 657 farmers from India, Bangladesh and Pakistan respectively from Financial Inclusion Insights (2017) database. “Big five” FL questions were used to measure the FL of the farmers. Appropriate statistical techniques and censored Tobit regression were used to identify the determinants of such FL.

Bangladeshi farmers (48.75%: Moderate) were found to exhibit greater FL as compared to Pakistani (38.96%: Poor) and Indian (32.61%: Poor) farmers. The outcome of the study revealed that the farm ownership and educational attainment of the farmers significantly determined FL of the farmers in all three Asian countries. Financial confidence and gender were observed to exacerbate a positive influence on the level of FL of farmers belonging to India and Pakistan. Age, marital status, financial inclusion and economic status were found to be the major determinants of FL of Indian farmers.

There is a dearth of studies in the scholarship examining the FL of farmers in both developed and developing economies. The present study makes an original contribution to the literature by unearthing FL amongst farmers and its determinants in three South Asian economies using a large sample of 12,464 farmers for the first time.

The peer-review history for this article is available at: https://publons.com/publon/10.1108/IJSE-12-2022-0776

The study aims to analyze, realize and identify the extent of research on financial literacy (FL) and to reveal the study trends, growth and evolution in the Scopus database from a bibliometric analysis. Principally, the primary purpose of this study is to conduct a comprehensive bibliometric review of studies focusing on the use, identification, network structure and conceptual structure of FL.

The most relevant articles were found using an electronic search. The studies that would be reviewed were sourced from the Scopus database. A total of 1,211 articles were found and refined to 768 papers between 1997 and 2021. Every composition has been analyzed in different dimensions such as co-authorship, co-citation, conceptual structure, co-word occurrence, trend topics analysis, thematic map, topic dendrogram, three field plot diagram and visualization analysis with the help of R programming language and VOSviewer software.

Motor themes, basic transverse, niche, and emerging and declining themes were identified using (Callon, 1991) a strategic thematic map. The analysis’s results showed that, over the past 20 years, FL literature has advanced remarkably. It also acts as a reference means for future researchers. This study adopted relational techniques such as co-word, co-author, co-citation analysis, bibliographic coupling and thematic map analysis revealing the emerging topics for future research. The relational approach indicates that “FL” and “human” are two central parts that connect to other frequently used words in the studies examined.

The study deploys bibliometric analysis appropriate for deriving insights from the vast extant literature. However, a meta-analysis might offer deeper insights into specific dimensions of the research topic. It expands the previous literature and shows study topics that are more focused by examining the abstracts and contents of articles published in journals in different Scopus categories. For future researchers to derive a solid theoretical framework, a systematic review of the literature and meta-analysis would be helpful. Science mapping for this study is limited to the Scopus database owing to its more comprehensive coverage of good-quality journals.

For future researchers to derive a solid theoretical framework, a systematic review of literature and meta-analysis would be helpful. Science mapping for this study is limited to the Scopus database owing to its more comprehensive coverage of good-quality journals. The authors offer suggestions for promising directions for future research that could address some of the inconsistencies found from the bibliometric analysis study.

This study can help both budding and established researchers to find new research focus, relevant sources, and collaboration opportunities and make informed decisions. Findings related to evaluative and relational techniques can serve as helpful information for researchers who are new to the field.

It shows the indicators used to benchmark institutes, authors, journals or articles. The increase in researchers’ collaborative, multi-authored and interdisciplinary efforts also revealed an annual growth rate of 23.77%. Overall, this study enhanced the understanding of the FL phenomenon and provided an experience and interpret a wide range of publication- and citation-based statistics. This study contributes to understanding the collaborative networks of various researchers and institutions and the benefits/detriments of collaborating cross-disciplinary, internationally, or with industry or corporate institutions.

The recent financial crises and the economic problems caused by the pandemic highlight the importance of financial literacy (FL). Libraries have an essential role in developing informational literacy and promoting access to information. In this study the authors seek to identify, based on the published literature, in which areas and in what roles libraries engage in the development of FL, and what options are available for those who intend to set out in this direction in the near future.

The basis of the research is a review of the literature, as comprehensive as possible, achieved by keyword- and discipline-focused searches run in the Library, Information Science and Technology Abstracts (LISTA), the Web of Science (WoS) and the Scopus database. At the beginning of the study, the initial list of results had 765 publications, but this number decreased significantly after removing duplicates and sorting the results. Finally, 138 publications were included in the analysis.

Libraries engage in the development of FL mostly through their collections, with recommendations, through education, by organizing programs and through information service. Most successful methods do not require any specialized FL knowledge from librarians. Necessary competences are more related to organizational skills, cooperation with partners and creativity.

The study is based on publications which include the term financial culture, any of its synonyms, or broader or more specific terms and which are related to libraries in the manner described in the search strategy. The international literature databases chosen for the searches limited the scope of the articles available for inclusion.

The study summarizes the results in libraries related to FL from the past 10 years. There has been no other similar summary published recently applicable in practice.