Differences on financial performance and life satisfaction in genders and university types of Chinese college students

Abstract

Despite the strong interest in financial performance and well-being (life satisfaction), there is no consensus in the literature about differences on financial performance and life satisfaction of college students in genders and university types. A fundamental proposition is that individuals' financial performance and well-being are different from the performance of college students in developed countries. Yet there is little agreement as to the performance differences of college students in developed countries, and there is little research on the performance differences of college students in Chinese college students. On the basis of a survey of 1,233 undergraduates or postgraduates from 25 public higher education institutions offering degree programs in Guangxi of China, it was found that there were significant differences between genders for the sampled university students in regard to their composite scores in financial knowledge, financial capability, stock investment intention, entrepreneurial intention, house-purchasing intention, financial satisfaction and comfort, financial security, and life attitude. Moreover, there were also significant differences between genders for the sampled university students in regard to their composite scores in financial literacy, investment behavioral intention, financial well-being, and life satisfaction. Finally, a statistically significant difference was found among four types of Chinese college students in regard to composite scores on financial literacy, investment behavioral intention, financial well-being. The authors also discuss the research and managerial implications of these findings.