Financial education, interaction with parents and other factors related to the use of credit cards by accounting students

Authors

DOI:

https://doi.org/10.21680/2176-9036.2019v11n2ID15616

Keywords:

Credit Cards. Financial education. Accounting Students

Abstract

Purpose: To identify the factors related to the use of credit cards by students of the Accounting Sciences course.

Methodology: It was adopted the use of questionnaire data applied to students. The study sample comprises students in the face-to-face course modality of higher education institutions in the South, Southeast, Midwest and Northeast regions, with 946 respondents. Data were analyzed using descriptive statistics and ordered logit model.

Results: It is evidenced that the majority of the respondents only use a credit card; financial education was negatively significant in the use of credit cards. Financial education is associated with respondents' optimism in financial decision-making. Also, interaction with parents about personal finances is associated with the great possibility of using credit card.

Contributions of the Study: Become important to various stakeholders such as students, financial advisors, researchers, educational institutions, parents and other financial socialization agents, once helps to understand the factors that influence the use of credit card. Stakeholders can use the information obtained from this research to address issues related to financial management, financial well-being and bankruptcy, in order to obtain better global financial resources.

Downloads

Download data is not yet available.

Author Biographies

Thiago Bruno de Jesus Silva, Universidade Federal da Grande Dourados

Doutorando em Contabilidade pela Universidade Federal de Santa Catarina (UFSC). Professor da Universidade Federal da Grande Dourados (UFGD).

Luís Antonio Lay, Universidade do Contestado

Mestre em Ciências Contábeis pela Universidade Regional de Blumenau (FURB) e Professor da Universidade do Contestado (UnC)

Paula Gracielle Coelho de Paula Nogueira, Faculdade de Balsas

Graduada em Ciências Contábeis pela Faculdade de Balsas (Unibalsas)

Gerson João Valeretto, Universidade Federal da Grande Dourados

Doutorando em Ciências Ambientais e Sustentabilidade Agropecuária pela Universidade Católica Dom Bosco (UCDB) e Professor da Universidade Federal da Grande Dourados (UFGD)

References

Agresti, A., & Finlay, B. (2012). Métodos estatísticos para as ciências sociais. Penso Editora.

Apostolou, B.; Hassell, J. M.; Rebele, J. E.; Watson, S. F. (2010). “Accounting education literature review (2006–2009)”. Journal of Accounting Education, Vol. 28, Num. 3, pp. 145-197.

Bandeira, M., Bekou, V., Lott Silva, K., Teixeira, M. A., & Rocha, S. S. (2002). Validação transcultural do Teste de Orientação da Vida (TOV-R). Estudos de Psicologia, 7(2).

Beal, D. J.; Delpachitra, S. B. (2003). “Financial literacy among australian university students”. Economic Paper, Vol. 22, Num. 1, pp. 65?78.

Boddington, L.; Kemp, S. (1999). “Student debt, attitudes toward debt, impulsive buying and financial management”. New Zealand Journal of Psychology, Vol. 28, Num. 2, pp. 89-93.

Chen, H.; Volpe, R. P. (1998). “An analysis of personal financial literacy among college students”. Financial Services Review, Vol. 7, Num. 2, pp. 107-128.

Çinko, M., Avc?, E., Ergun, S., & Tekçe, M. (2017). Financial Literature Levels of University Students: An Example of Marmara University. Marmara Business Review, Vol. 2 Num.1, pp. 25-50.

Chikezie, O. C., & Sabri, M. F (2017). The Financial Well-Being Of Nigerian Students In Universiti Putra Malaysia. Journal of Education and Social Sciences, Vol. 6, Num 2, (February).

Criddle, E. (2006). “Financial literacy: goals and values, not just numbers”. Alliance, Vol. 34, pp. 4.

Diniz, P.; Silva, P. R.; Barboza, F.; Mendes-Da-Silva, W. (2016). “A relação da educação financeira e otimismo no uso de cartões de crédito”. Espacios (Caracas), Vol. 37, pp. 7-10.

Disney, R., & Gathergood, J. (2013). Financial literacy and consumer credit portfolios. Journal of Banking & Finance, Vol. 37 Num 7, pp. 2246-2254.

Gutter, M.; Copur, Z. (2011). “Financial behaviors and financial well-being of college students: Evidence from a national survey”. Journal of Family and Economic Issues, Vol. 32, Num. 4, pp. 699-714.

Fávero, L. P., Belfiore, P., Silva, F. F., & Chan, B. L. (2009). “Análise de dados: modelagem multivariada para tomada de decisões”. Rio de Janeiro: Elsevier.

Hancock, A. M.; Jorgensen, B. L.; Swanson, M. S. (2013). “College students and credit card use: The role of parents, work experience, financial knowledge, and credit card attitudes”. Journal of Family and Economic Issues, Vol. 34, Num. 4, pp. 369-381.

Hayhoe, C. R.; Leach, L.; Turner, P. R. (1999). “Discriminating the number of credit card held by college student using credit and Money attitudes”. Journal of Economic Psychology, Vol. 20, pp. 643-656.

Joo, S.; Grable, J. E.; Bagwell, D. (2003). “Credit card attitudes and behaviors of college students”. College Student Journal, Vol. 37, Num. 3, pp. 1-11.

Kim, H., & DeVaney, S. A. (2001). The determinants of outstanding balances among credit card revolvers. Journal of Financial Counseling and Planning, Vol. 12 Num. 1, pp. 67-79.

Kunkel, F. I.; Vieira, K. M.; Coronel, D. A.; Bender Filho, R. E. I. S. O. L. I.; Campara, J. P. (2013). “Comportamento de Risco Financeiro dos Estudantes Universitários no Uso do Cartão de Crédito: uma Análise Comportamental”. In: XVI SEMEAD – Seminários em Administração, 16, 2013, São Paulo. Anais... São Paulo: FEAUSP.

Lyons, A. C. (2004). “A profile of financially at-risk college students”. Journal of Consumer Affairs, Vol. 38, Num. 1, pp. 56-80.

Lyons, A. C.; Yilmazer, T. (2005). “Financial education and program evaluation: Challenges and potentials for financial professionals”. Journal of Personal Finance, Vol. 4, Num. 4, pp. 56-68.

Lusardi, A., & Tufano, P. (2009). Debt literacy, financial experiences, and overindebtedness (No. w14808). National Bureau of Economic Research.

Macfadyen, A. J., Macfadyen, H. W.; Prince, N. J. (1996). “Economic stress and psychological well-being: an economic psychological framework”. Journal of Economic Psychology, Vol. 17, Num. 3, pp. 291-311.

Mandell, L. (2007). “Financial literacy of high school students”. In J.J. XIAO (Ed.), Handbook of Consumer Finance Research. New York, NY, Spring.

Manning, R. D. (1999).” Credit cards on campus: Costs and consequences of student debt”. Washington: Consumer Federation of America.

Mendes-Da-Silva, W.; Nakamura, W. T.; Moraes, D. C. (2012). “Credit card risk behavior on college campuses: evidence from Brazil”. Brazilian Administration Review, Vol. 9, Num. 3, pp. 351-373.

Mewse, A. J.; Lea, S. E.G., & Wrapson, W. First steps out of debt: attitudes and social identity as predictors of contact by debtors with creditors. Journal of Economic Psychology, Vol. 31, Num. 6, p. 1021-1034, 2010.

Moore, D. (2003). “Survey of financial literacy in Washington State: knowledge, behavior, attitudes, and experiences”. Olympia, WA, Washington State Dept. of Financial Institutions.

Nakamura, W. T.; Mendes-Da-Silva, W.; Moraes, D. C. (2011). “Determinantes de comportamento de risco no uso de cartões de crédito por estudantes universitários”. In: XXXV EnANPAD – Encontro da ANPAD, 35, Rio de Janeiro, Anais... Rio de Janeiro: ANPAD.

Nellie, M. (2005). “Undergraduate students and credit cards: An analysis of usage rates and trends”.

Norvilitis, J. M., Merwin, M. M., Osberg, T. M., Roehling, P. V., Young, P., & Kamas, M. M. (2006). Personality factors, money attitudes, financial knowledge, and credit?card debt in college students. Journal of applied social psychology, Vol. 36 Num. 6, pp. 1395-1413.

Norvilitis, J. M.; Mendes-Da-Silva, W. (2013). “Attitudes toward credit and finances among college students in Brazil and the United States”. Working Paper.

Norvilitis, J. M.; Maclean, M. G. (2010).” The role of parents in college students’ financial behaviors and attitudes”. Journal of Economic Psychology, Vol. 31, pp. 55-63.

Parker, S. C. (2006). “New agendas in the economics of entrepreneurship: optimism, education, wealth and entrepreneurship”. In: 3rd HE. WPEM (Hellenic Workshop on Efficiency and Productivity Measurement): “Industry Dynamics, Productivity, Entrepreneurship and Growth”, University of Patras.

Potrich, A. C. G., Vieira, K. M., & Kirch, G. (2015). Determinantes da Alfabetização Financeira: Análise da Influência de Variáveis Socioeconômicas e Demográficas. Revista Contabilidade & Finanças, Vol. 26, Num. 69, pp. 362-377.

Remund, D. L. (2010). “Financial literacy explicated: the case for a clearer definition in an increasingly complex economy”. The Journal of Consumer Affairs, Vol. 44, Num. 2, pp. 276-295.

Robb, C. A.; Woodyard, A. S. (2011). “Financial Knowledge and Best Practice Behavior”. Journal of Financial Counseling and Planning, Vol. 22, Num. 1, pp. 60-70.

Roberts, J. A.; Jones, E. (2001). “Money attitudes, credit card use, and compulsive buying among American college students”. The Journal of Consumer Affairs, Vol. 3, Num. 2, pp. 213-240.

Rogers-Silva, P. (2011). “Psicologia do risco do crédito: análise da contribuição de variáveis psicológicas em modelos de credit scoring”. 244f. Tese (Doutorado) – Departamento de Administração, Faculdade de Economia, Administração e Contabilidade, Universidade de São Paulo, São Paulo.

Shim, S., Xiao, J. J., Barber, B. L., & Lyons, A. C. (2009). Pathways to life success: A conceptual model of financial well-being for young adults. Journal of Applied Developmental Psychology, Vol. 30, Num. 6, 708-723.

Willis, L. E. (2009). “Evidence and ideology in assessing the effectiveness of financial literacy education”. San Diego Law Review, Vol. 46, pp. 415-447.

Van Rooij, M.; Lusardi, A.; Alessie, R. (2011). “Financial literacy and stock market participation”. Journal of Financial Economics, Vol. 101, Num. 2, pp. 449-472.

Vieira, S.F.A.; Bataglia, R.T.M., & Sereia, V.J (2011). “Educação financeira e decisões de consumo, investimento e poupança: uma análise dos alunos de uma universidade pública do norte do paraná”. Revista de Administração da UNIMEP, Vol. 9, Num. 3, pp. 61-86.

Downloads

Published

03-07-2019

How to Cite

SILVA, T. B. de J.; LAY, L. A.; SOUSA, A. M. de; NOGUEIRA, P. G. C. de P.; VALERETTO, G. J. Financial education, interaction with parents and other factors related to the use of credit cards by accounting students. REVISTA AMBIENTE CONTÁBIL - Universidade Federal do Rio Grande do Norte, [S. l.], v. 11, n. 2, p. 131–151, 2019. DOI: 10.21680/2176-9036.2019v11n2ID15616. Disponível em: https://periodicos.ufrn.br/ambiente/article/view/15616. Acesso em: 23 jul. 2024.

Issue

Vol. 11 No. 2 (2019): Jul./Dez.

Section

Section 3: Research of Field on Accounting (Survey) (S3)

License

Authors who publish in this magazine agree with the following terms: 

Authors keep the copyrights and concede the right of its first publication to the magazine. The work piece must be simultaneously licensed on the Creative Commons Attribution Licence which allows the paper sharing, and preserves both the author identity and the right of first publication to this magazine. 

Authors are authorized to assume additional contracts separately, to not-exclusively distribution of the paper version published in this magazine (e.g.: publish in institutional repository or as a book chapter), with the author identity recognition and its first publication in this magazine. 

Authors are permitted and stimulated to publish and distribute their papers online (e.g.: in institutional repository or on their personal webpage), considering it can generate productive alterations, as well as increase the impact and the quotations of the published paper.

Creative Commons - Atribuição-NãoComercial-SemDerivações 4.0 Internacional.