Financial capability among university students in Indonesia

Johan, Irni Rahmayani (2018). Financial capability among university students in Indonesia. University of Birmingham. Ph.D.

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The main aim of this study was to measure financial capability among university students in Indonesia. However, the study also contributes to: an understanding of the concept of financial capability and how it varies across countries and between groups. The main empirical part of the study was based on a major mixed method design which involved six focus groups followed by a large-scale representative survey of 521 face-to-face structured interviews with students, from Bogor Agricultural University, Bogor, Indonesia.

The empirical study provides a wealth of important findings on financial capability among students. Most importantly, it shows that there are different drivers of financial knowledge, attitudes, and behaviour. In particular, the study reveals that a financial education course had an impact on knowledge but not on attitudes and behaviour, once other factors were controlled for. Other factors showed a stronger effect on financial attitudes and behaviour. These were: financial socialisation by family; year of study; and work experiences; and for financial behaviour, the level of income was also a stronger determinant factor. Given that experience was shown as a determinant factor of knowledge, attitudes and behaviour, it is recommended that the financial education courses use experiential learning as a method of delivery to enhance their impact. However, even enhanced financial education courses, on their own, are unlikely to significantly improve financial behaviour. Appropriate provision and regulation of financial services, alongside maintaining adequate income levels are also vital.

Type of Work: Thesis (Doctorates > Ph.D.)
Award Type: Doctorates > Ph.D.
College/Faculty: Colleges (2008 onwards) > College of Social Sciences
School or Department: Department of Social Policy, Sociology and Criminology
Funders: Other
Other Funders: The University of Birmingham, Indonesia Endowment Fund for Education
Subjects: H Social Sciences > HG Finance


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