Abstract

The potential outcomes of financial education are influenced not only by
 supply but demand-side factors, particularly individuals’ intentions to learn
 more about financial literacy. Despite this, the demand for financial education
 has so far received very little attention. A survey of Korean adults(n=1,422)
 is used to investigate what affects the intention to enhance financial literacy.
 To this end, the study relies on the basic conceptual framework of the theory
 of planned behavior. The results show that attitudes, beliefs, and perceived
 behavioral control are significant determinants of intentions, supporting that
 the theory can serve as an effective model. The level of financial knowledge
 and overconfidence are directly related to the demand for financial education.
 Those who actively invest in stocks or funds, those with loan debt, and those
 without income are more likely to intend to become financially literate.

Full Text
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