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Financial education and financial literacy in Gen Y - Alternative forms of financing

Author

Listed:
  • Aneta Ewa Waszkiewicz

    (Warsaw School of Economics)

Abstract

This study was designed to assess knowledge and awareness of students of Polish economic universities in terms of forms of enterprise financing. Particular attention was focused on innovative forms of capital raising as crowdfunding due to its dynamic development in the world, but also crowdfunding seems to correspond to the needs of Generation Y as future entrepreneurs. The research hypothesis is that Polish Generation Y has only a theoretical knowledge of the sources of funding enterprises. Polish students, although they are proficient in new technologies, they do not know innovative capital raising on the Internet because they do not receive this knowledge at the university. The quantitative research was conducted and designed to test knowledge of the forms of financing and knowledge of the development of innovative funding methods. The qualitative research was used to indicate the needs of Millennials as to the possibility of obtaining financial knowledge as well as the skills to use it. The main findings demonstrated a gap in education for innovative methods of funding but also indicated recommendations for potential changes in the education of Generation Y

Suggested Citation

  • Aneta Ewa Waszkiewicz, 2017. "Financial education and financial literacy in Gen Y - Alternative forms of financing," Working Papers 2017-05, Faculty of Economic Sciences, University of Warsaw.
    • Handle: RePEc:war:wpaper:2017-05
    as

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    File URL: http://www.wne.uw.edu.pl/index.php/download_file/3300/
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    References listed on IDEAS

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    1. Lusardi, Annamaria & Tufano, Peter, 2015. "Debt literacy, financial experiences, and overindebtedness," Journal of Pension Economics and Finance, Cambridge University Press, vol. 14(4), pages 332-368, October.
    2. Alan Tomczak & Alexander Brem, 2013. "A conceptualized investment model of crowdfunding," Venture Capital, Taylor & Francis Journals, vol. 15(4), pages 335-359, October.
    3. Katarzyna Lazorko, 2015. "Sharing as an Aspect of Customer Behaviour of Digital Natives in Poland," Theory Methodology Practice (TMP), Faculty of Economics, University of Miskolc, vol. 11(02), pages 31-36.
    4. Javier Ramos, 2014. "Crowdfunding and the Role of Managers in Ensuring the Sustainability of Crowdfunding Platforms," JRC Research Reports JRC85752, Joint Research Centre.
    5. Victor Stango & Jonathan Zinman, 2009. "Exponential Growth Bias and Household Finance," Journal of Finance, American Finance Association, vol. 64(6), pages 2807-2849, December.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    crowdfunding; Generation Y (Gen Y); Millennials; p2p lending; financial literacy; financial education;
    All these keywords.

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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