Childhood roots of financial literacy
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Grohmann et al. (2015) find that two of three financial socialization channels, family and school, have a positive impact on the financial literacy of adult subjects.
“Grohmann et al. (2015) identify three potential channels of financial socialization: family, school and work and find that two of the three channels, i.e. family and school, indeed have a positive impact on the financial literacy of the adult subjects in their study.”
From Financial literacy, financial advice, and financial behavior (2017) · cites this paper as Grohmann et al. (2015)
Cites
The Economic Importance of Financial Literacy: Theory and Evidence
Lusardi, A., & Mitchell, O. S. (2014) · Journal of Economic Literature · doi:10.1257/jel.52.1.5 · Cited by 4,698 · see citing works
Financial literacy and stock market participation
van Rooij, M., Lusardi, A., & Alessie, R. (2011) · Journal of Financial Economics · doi:10.1016/j.jfineco.2011.03.006 · Cited by 3,554 · cited 3× · see citing works
“…has a positive effect on long-term savings and retirement planning (Lusardi and Mitchell, 2007, Clark et al., 2012), stock market participation (van Rooij et al., 2011a), portfolio diversification (Guiso and Jappelli, 2008), wealth (Gustman et al., 2012, van Rooij et al. 2012, Jappelli and Padula,…”
BackgroundInfluentialBarsky, R. B., Juster, F. T., Kimball, M. S., & Shapiro, M. D. (1997) · The Quarterly Journal of Economics · doi:10.1162/003355397555280 · Cited by 2,400 · see citing works
Financial Literacy, Financial Education, and Downstream Financial Behaviors
Fernandes, D., Lynch, J. G., & Netemeyer, R. G. (2014) · Management Science · doi:10.1287/mnsc.2013.1849 · Cited by 2,152 · see citing works
Financial Literacy Among the Young
Lusardi, A., Mitchell, O. S., & Curto, V. (2009) · SSRN Electronic Journal · doi:10.2139/ssrn.1476982 · Cited by 1,804 · see citing works
How Financial Literacy Affects Household Wealth Accumulation
Behrman, J. R., Mitchell, O. S., Soo, C. K., & Bravo, D. (2012) · American Economic Review · doi:10.1257/aer.102.3.300 · Cited by 582 · cited 1× · see citing works
“Indeed, several studies either look at the impact of some childhood experiences on financial behavior (e.g., Webley and Nyhus, 2013, Bucciol and Veronesi, 2014), or use a specific childhood variable as instrument for financial literacy (Behrman et al., 2010, 2012, van Rooij et al., 2011b).”
BackgroundBernheim, B. D., Garrett, D. M., & Maki, D. M. (2001) · Journal of Public Economics · doi:10.1016/s0047-2727(00)00120-1 · Cited by 433 · cited 1× · see citing works
“Indeed, Bernheim et al. (2001) use variation in the introduction of consumer education across states in the U.S. to show that these programs had a positive effect on asset accumulation later in life.”
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Financial literacy, financial advice, and financial behavior
Stolper, O. A., & Walter, A. (2017) · Journal of Business Economics · doi:10.1007/s11573-017-0853-9 · Cited by 471 · see citing works
“For example, Grohmann et al. (2015) identify three potential channels of financial socialization: family, school and work and find that two of the three channels, i.e. family and school, indeed have a positive impact on the financial literacy of the adult subjects in their study.”
Background
- Authors
- Grohmann, A., Kouwenberg, R., & Menkhoff, L.
- Affiliations
- German Institute for Economic Research (DE)
- Mahidol University (TH)
- Leibniz University Hannover (DE)
- Corresponding author
- Menkhoff, Lukas
- Venue
- Journal of Economic Psychology
- Publisher
- Elsevier BV
- Published
- 2015-12
- Volume
- 51
- Pages
- 114-133
- ISSN
- 0167-4870 (ISSN-L)
- OpenAlex
- W1735139684
- Cited by
- 289
- References
- 7
- Citations by year
- 2026: 19 · 2025: 18 · 2024: 39 · 2023: 36 · 2022: 34 · 2021: 36 · 2020: 33 · 2019: 19 · 2018: 19 · 2017: 31 · 2016: 3 · 2015: 2
- FWCI
- 80.75
- Type
- journal article
- Language
- en
- Open access
- green
- doi.org
- Locations
- Journal of Economic Psychology (publishedVersion)
- SSRN Electronic Journal (publishedVersion)
- EUR Research Repository (Erasmus University Rotterdam) (publishedVersion)
- RePEc: Research Papers in Economics (submittedVersion)
- EUR Research Repository (Erasmus University Rotterdam) (submittedVersion)
- Econstor (Econstor) (submittedVersion)
- Funders
- World Childhood Foundation
- Deutsche Forschungsgemeinschaft (RTG‐1723)
- Topics
- Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy, Pension, Retirement Analysis
- Social Sciences › Business, Management and Accounting › Accounting › Financial Literacy and Behavior
- Social Sciences › Decision Sciences › General Decision Sciences › Decision-Making and Behavioral Economics
- Keywords
- financial literacy, financial socialization, family influence, school influence, work experience, financial behavior, mediation, sociodemographic factors
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Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
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