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The Study of University Professors' Financial Literacy

Author

Listed:
  • Shahnaz Nayebzadeh

    (Islamic Azad University)

  • Marzieh Kalantari Taft

    (Islamic Azad University)

  • Mohammad Mir Mohammadi Sadrabadi

    (Islamic Azad University)

Abstract

Industrial revolution, economic crises, and facilitation and expansion of global communication have increased the volume of transactions and management complexity. This complexity has led to a situation that people are not able to simply make good financial decisions in their business and personal life. With the financial and economic activities becoming more difficult, countries have concluded that whole the public essentially need to be trained about financial issues. The study of financial literacy of population has become a matter of interest to some researchers; therefore, some studies have been done in this area. In this respect, the current study attempts to investigate financial literacy of university professors. For this purpose, a questionnaire was designed; then, using random sampling, they were distributed among selected individuals. The data was collected using statistical analyses such as correlation, independent samples T-test and ANOVA. The results showed that university professors lack essential financial information for handling their daily financial issues. There was a relationship between financial literacy and marital status characteristics, and finally there was not significant relationship between variables such as age, education and employment status with financial literacy.

Suggested Citation

  • Shahnaz Nayebzadeh & Marzieh Kalantari Taft & Mohammad Mir Mohammadi Sadrabadi, 2013. "The Study of University Professors' Financial Literacy," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 3(3), pages 111-117, July.
    • Handle: RePEc:hur:ijaraf:v:3:y:2013:i:3:p:111-117
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    References listed on IDEAS

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    1. Annamarie Lusardi & Olivia S. Mitchell, 2005. "Financial Literacy and Planning: Implications for Retirement Wellbeing," Working Papers wp108, University of Michigan, Michigan Retirement Research Center.
    2. Chen, Haiyang & Volpe, Ronald P., 1998. "An Analysis of Personal Financial Literacy Among College Students," Financial Services Review, Elsevier, vol. 7(2), pages 107-128.
    3. Hussein A. Hassan Al-Tamimi & Al Anood Bin Kalli, 2009. "Financial literacy and investment decisions of UAE investors," Journal of Risk Finance, Emerald Group Publishing, vol. 10(5), pages 500-516, November.
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