An empirical study on how financial literacy contributes to preparation for retirement
An empirical study on how financial literacy contributes to preparation for retirement
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关于金融知识如何有助于退休准备的实证研究
DOI：
10.1017/s1474747220000281
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发表时间：
2020
影响因子：
1.2
通讯作者：
Tung-ming Yeh
中科院分区：
文献类型：
--
作者：
Yuyang Zhang;Konari Uchida;LipingDong;Tung-ming Yeh
这项研究在决策过程的三个阶段--信息感知、信息搜索和评估以及决策和实施--提供了关于金融知识与退休储蓄相关的机制的经验证据。研究结果表明，金融知识对个人退休后理财需求的认知、购买理财产品时的选择比较、较少的当期偏向、退休基金的规划和拨备有显著的正向影响。金融知识不仅直接有助于规划未来，还通过减少行为偏差间接地做出贡献。
This study provides empirical evidence on the mechanisms through which financial literacy may be associated with saving for retirement, in the three phases of the decision-making process – information perception, information search and evaluation, and decision-making and implementation. The results indicate that financial literacy has significantly positive effects on one's awareness of post-retirement financial needs, comparing alternatives when purchasing financial products, displaying fewer present-time bias, and planning for and setting aside funds for retirement. Financial literacy not only directly contributes to planning for the future, but also indirectly via a reduction in behavioral biases.