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Financial literacy and individual success: Lebanese framework modeling

Author

Listed:
  • Bachir El Murr

    (LU / ULB - الجامعة اللبنانية [بيروت] = Lebanese University [Beirut] = Université libanaise [Beyrouth])

  • Genane Youness

    (CEDRIC - Centre d'études et de recherche en informatique et communications - ENSIIE - Ecole Nationale Supérieure d'Informatique pour l'Industrie et l'Entreprise - CNAM - Conservatoire National des Arts et Métiers [CNAM] - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université, ISSAE-CNAM Liban - Institut supérieur des sciences appliquées et économiques - CNAM Liban - CNAM - Conservatoire National des Arts et Métiers [CNAM] - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université, LINEACT - Laboratoire d'Innovation Numérique pour les Entreprises et les Apprentissages au service de la Compétitivité des Territoires - CESI - CESI : groupe d’Enseignement Supérieur et de Formation Professionnelle - HESAM - HESAM Université - Communauté d'universités et d'établissements Hautes écoles Sorbonne Arts et métiers université)

  • Hala Gharib

    (LU / ULB - الجامعة اللبنانية [بيروت] = Lebanese University [Beirut] = Université libanaise [Beyrouth])

  • Mayssaa Daher

    (Auteur indépendant)

Abstract

This paper sheds light on the role the financial literacy features may play amid other determinant factors of individual success. A survey is conducted on a random sample of households' members, based on the individual perception as an assessment criteria of financial literacy status and career success. A non-parametric method, ctree, and a semi-parametric method, the multivariate logistic regression with interaction using random forest, are used. The two models are built to perform supervised learning classifications. They are validated through 10-fold cross validation technique to assure their capability to predict key factors of individual success, among which financial literacy features. It shows that personal and socioeconomic factors do not have any noticeable impact on professional success. Current educational system seems offering light insight on the professional perspectives of individuals. Financial literacy factors

Suggested Citation

  • Bachir El Murr & Genane Youness & Hala Gharib & Mayssaa Daher, 2021. "Financial literacy and individual success: Lebanese framework modeling," Post-Print hal-03295623, HAL.
    • Handle: RePEc:hal:journl:hal-03295623
    Note: View the original document on HAL open archive server: https://hal.science/hal-03295623
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    References listed on IDEAS

    as
    1. van Rooij, Maarten & Lusardi, Annamaria & Alessie, Rob, 2011. "Financial literacy and stock market participation," Journal of Financial Economics, Elsevier, vol. 101(2), pages 449-472, August.
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    7. Maarten C.J. van Rooij & Annamaria Lusardi & Rob J.M. Alessie, 2012. "Financial Literacy, Retirement Planning and Household Wealth," Economic Journal, Royal Economic Society, vol. 122(560), pages 449-478, May.
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    Full references (including those not matched with items on IDEAS)

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    Keywords

    financial literacy; individual success; ctree; multivariate logistic regression; Random Forest;
    All these keywords.

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