623 influence of financial literacy and financial attitude on financial behaviors of students in ho chi minh city 2023

THESTATE BANK OFVIETNAM MINISTRYOFEDUCATIONANDTRAINING HOCHIMINHUNIVERSITYOFBANKING NGUYỄNTHỊTƯỜNGVY INFLUENCE OF FINANCIAL LITERACY AND FINANCIALATTITUDE ON FINANCIAL BEHAVIORS OF STUDENTS INHOCHI MINHCITY GRADUATION THESISMAJOR: FINANCE – BANKINGCODE:7340201 HOCHIMINHCITY,2022 NGUYỄNTHỊTƯỜNGVY INFLUENCE OF FINANCIAL LITERACY AND FINANCIALATTITUDE ON FINANCIAL BEHAVIORS OF STUDENTS INHOCHI MINHCITY GRADUATION THESISMAJOR: FINANCE – BANKINGCODE:7340201 SUPERVISORNGUYE NTHIMYHANH,PHD HOCHIMINHCITY,2022 ABSTRACT The thesis studies the impact of financial literacy and financial attitude onfinancial behaviors This empirical study was conducted on students atH o C h i Minh University of Banking and students at universities in Ho Chi Minh City toexplain the financial behaviors of students, which are rarely chosen as researchsubjects Using quantitative research method, the research paper distributes onlinequestionnairestostudentstoansweronline,thenfromthecollecteddata,theresearc h uses EFA method to process and analyze data The results found thatfinancialliteracyandfinancialattitudehadnoimpactonstudents'financialbehaviors Somerecommendationsforimprovingfinancialliteracyindicators,financialattitudeand financial behaviors forstudentswillalsobediscussed AUTHOR’SDECLARATION I hereby confirm that this thesis entitled “Influence of financial literacy andfinancial attitude on financial behaviors of students in Ho Chi Minh City”, is myownwork,andnoneofthisworkhasbeenpublishedbeforesubmission HoChiMinhCity,August2022 NGUYEN THITUONGVY ACKNOWLEDGEMENTS I would like to express my deep gratitude to all the teachers at Ho Chi MinhUniversity of Banking who have always been dedicated to imparting and teachingmea lotofus e ful knowledge and skills ,a nd a lw a ys creatingfavorable c onditions formetolearnanddevelop IwouldliketosincerelythankDr.NguyenThiMyHanhforalwaysaccompanyingands upportingmeintheprocessofcompletingmyg r a d u a t i o n thesis.ThecontributionsofDr.Nguyen ThiMyHanharevaluableknowledgeformythesis Finally,Iwouldliketothankmyfamilyforalwayssupportingmeaswellas those who participatedinthesurveysothatIcouldcompletethethesis TABLEOFCONTENTS ABSTRACT i LISTOF ACRONYMS vii LISTOF FIGURES .viii LISTOF TABLES ix CHAPTER1:INTRODUCTION 1.1 Rationaleofthestudy 1.2 Researchobjectivesandquestions .3 1.2.1 Generalobjective 1.2.2 Specificobjectives 1.3 Researchquestions 1.4 Researchsubjectandscope .3 1.5 Researchmethodology 1.6 Structureofthethesis Summary ofChapter CHAPTER2:LITERATURE REVIEW 2.1 Guidingconceptualframework 2.2 Financialbehavior 2.3 Financialliteracy .9 2.4 Financialattitude 10 2.5 Financiall i t e r a c y a n d i t s s i g n i f i c a n t a s s o c i a t i o n w i t h f i n a n c i a l b e h a v i o r 10 2.6 Financial attitude and its significant association with financial behavior112.7Reviewofpreviousstudies .12 Summary ofChapter 13 CHAPTER3:METHODOLOGY 14 3.1 Researchprocess 14 3.2 Hypothesesandproposed model .15 3.3 Sampleand samplesize 16 3.4 Survey design .17 3.5 Researchvariablesandscaledesign 18 3.6 Dataanalysis 20 3.6.1 Buildandverifythequalityofthescale 21 3.6.1.1 Descriptivestatistics 21 3.6.1.2 Cronbach’sAlpha .21 3.6.2 ExploratoryFactorAnalysis 22 3.6.3 Multivariatelinearregressionanalysis 24 SummaryofChapter3 25 CHAPTER4:RESEARCHRESULTSANDDISCUSSION .26 4.1 ResultsobtainedatHoChiMinhUniversity ofBanking 26 4.1.1 Characterisctics ofsample .26 4.1.2 Verifythequalityofthescale .27 4.1.3 ExploratoryFactorAnalysis 31 4.1.3.1 Independentvariables .31 4.1.3.2 Dependentvariable 34 4.1.4 Correlation analysis .36 4.1.5 Multivariatelinearregressionanalysis 37 4.2 ResultsobtainedatotheruniversitiesinHoChiMinhCity 38 4.2.1 Characteristicsofsample 38 4.2.2 Verifythequalityofthescale .40 4.2.3 ExploratoryFactorAnalysis 43 4.2.3.1 Independentvariables .43 4.2.3.2 Dependentvariable 47 4.2.4 Correlation analysis .48 4.2.5 Multivariatelinearregressionanalysis 49 4.3 Discussion 50 SummaryofChapter4 54 CHAPTER5:CONCLUSIONSANDRECOMMENDATIONS .55 5.1 Conclusions 55 5.2 Recommendations 55 5.2.1 Financialliteracy .55 5.2.2 Financialattitude .57 5.2.3 Financial behavior 57 5.3 Limitations andfutureresearchdirections .58 SummaryofChapter5 58 REFERENCES 59 APPENDIX 67 LISTOFACRONYMS Acronyms EFA Meaning ExploratoryFactor Analysis FA Financialattitude FB Financialbehaviors FL Financialliteracy TPB Theoryofplannedbehavior TRA Theoryofreasonedaction LISTOFFIGURES Figure2.1:Theoryofplannedbehavior .7 Figure2.2:Adaptationofthe Deacon-FirebaughModel Figure3.1:Researchprocess 15 Figure3.2:Proposedresearchmodel 16 Figure3.3:Theprocessofdevelopingthequestionnaire .17 Figure3.4:Summaryofresearchvariables 18 Figure3.5:Measurementscaleandcodeofvariables 19 Figure3.6:Reliabilityscoresandmeaning 21