This article uses individual-level data collected in the Household, Income and Labour Dynamics Australia (HILDA) survey 2016 to econometrically explore direction of causation between financial literacy self-employment. The empirical approach is based on applying instrumental variables (IV) analysis a three-outcome labour supply model (i.e. self-employment, employee employment non-employment) th...

In view of the high impact of materialistic orientation among children and adolescents, financial educational programs are provided as preventive measures. Without a clear framework, it is impossible to evaluate these programs. The goals of this paper are threefold. Firstly, the phenomena related to adolescent materialistic orientation and its associated problems in Hong Kong are examined. Seco...

As a result of sustained housing market fragility, a growing number of borrowers are walking away from their underwater homes even though they have the ability to pay. Despite recent advances, questions remain about what influences this decision. In this paper, we use survey data to examine the role of social expectations, financial literacy and knowledge of default consequences. We find that h...

In the matter of financial literacy it is often supposed that more is automatically preferable to less. This paper considers to what extent this may be true generally, and specifically focuses on the case of investment forecasting skill (a significant component of an individual’s financial literacy). We show that the while improved forecasting skill can increase an individual’s own utility, the...

Financial planning for retirement is essential to ensure that people have enough money live the lifestyle they desire when retire. Self-employed business owners in developed countries widely do financial planning. However, Malaysia, percentage of self-employed individuals concerned about lower than other countries. This study aims identify relationship between attitude, literacy and health towa...