Measuring Financial Literacy of University Academics

Journal for Studies in Management and Planning, Vol 4 , Issue 6, pp. 251-272, 2018

22 Pages Posted: 23 Jul 2018

Date Written: June 29, 2018

Abstract

This research analyzed Financial Literacy among University lecturers. A sample of 132academics were selected from the largest university in the national university system in Sri Lanka to collect data using a structured questionnaire, consisting of 44 questions. Main objective of the study was to measure the level of basic financial literacy of university academics. The study found that the, overall financial literacy of the academics (68.52%) is at a medium level. The knowledge aspect, which was 75.9% is at a medium level, the attitudes aspect, which was 69.7% is also at a medium level. The level of desirable financial behavior of the academics is at a low level of 59.96%. An important observation is that, although, knowledge and attitudes aspects are at a medium level, behavior aspect is at a low level. This suggests that financial knowledge and attitudes of the academics are not fully reflected in their financial behavior. Thus, a behavioral change in academics is needed where they would fully reflect their knowledge and attitudes in their behavior.

Keywords: Financial Literacy, Financial Behavior, Attitudes, Perception of Stock Market

JEL Classification: B40, C93, D10, D91, E70

Suggested Citation

Arthasad, Isuru and Rajapakse, R. P. C. R., Measuring Financial Literacy of University Academics (June 29, 2018). Journal for Studies in Management and Planning, Vol 4 , Issue 6, pp. 251-272, 2018, Available at SSRN: https://ssrn.com/abstract=3205370

Isuru Arthasad

Independent ( email )

No Address Available
United States

R. P. C. R. Rajapakse (Contact Author)

University of Sri Jayewardenepura ( email )

Nugegoda
Gandodawila
Gangodawila, Nugegoda 10250
Sri Lanka

Here is the Coronavirus
related research on SSRN

Paper statistics

Downloads
44
Abstract Views
248
PlumX Metrics