Gender Differences in Financial Literacy Among Hong Kong Workers

Kar Ming YU, Alfred M. WU, Wai Sum CHAN, Kee Lee CHOU*

*Corresponding author for this work

Research output: Journal PublicationsJournal Article (refereed)peer-review

14 Citations (Scopus)

Abstract

Using a phone survey conducted in 2012, we examined whether there is a gender difference in financial literacy among Hong Kong workers; and if such a difference exists, whether it can be explained by gender differences in sociodemographic variables, social or psychological factors, and/or the outcomes of retirement planning. Results show a gender gap in financial literacy as well as age, spousal support for retirement savings, risk tolerance, computational ability, and perceived financial knowledge. Multivariate data analyses show that a proportion of the gender difference in financial literacy could be explained by gender differences in risk tolerance, computational ability, and self-reported financial knowledge; but the difference remained after adjusting for variables found to be associated with gender. Our findings suggest that it may be important to develop programs targeted specifically to women.

Original languageEnglish
Pages (from-to)315-326
Number of pages12
JournalEducational Gerontology
Volume41
Issue number4
DOIs
Publication statusPublished - 3 Apr 2015
Externally publishedYes

Bibliographical note

Funding Information:
This work was funded by the Research Grant Council, Research Grant Council Strategic Public Policy Research (HKIEd 7001-SPPR-11).

Publisher Copyright:
© 2015, Copyright Taylor & Francis Group, LLC.

Copyright:
Copyright 2019 Elsevier B.V., All rights reserved.

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