FINANCIAL LITERACY: A RESEARCH ON THE STUDENTS OF BUSINESS ADMINISTRATION DEPARTMENT

Abstract

Author(s): Bahad?r ERGN, Arzu SAHIN, Erhan ERGIN

Financial literacy which can be defined as the ability of evaluating income, savings and investments and managing the budgets of individuals, has a vital importance for either local and global economy in the light of the knowledge about the complex financial decision making process and the impacts of this decisions to the economic system. The aim of this paper is to determine the financial literacy levels of the student and to present the relation between the financial literacy and individuals’ demographic characteristics through chi-square independency test with the help of the data derived from a survey conducted to the department of business administration students. In conclusion it is observed that the students are only basic level financially literate; the basic inflation knowledge varies by the gender, daytime-evening education situation and monthly average household income; the knowledge about the basic function of stock market varies by the gender factor; the knowledge about the effects of the fluctuations to the bond prices varies bythe daytimeevening education situation; the knowledge about the stock diversification varies by the gender factor and finally the asset diversification knowledge varies by the monthly average household incomes of students.

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