| Project/Area Number |
17K03807
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| Research Category |
Grant-in-Aid for Scientific Research (C)
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| Allocation Type | Multi-year Fund |
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| Section | 一般 |
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| Research Field |
Money/ Finance
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| Research Institution | Kyushu University |
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Principal Investigator |
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| Project Period (FY) |
2017-04-01 – 2021-03-31
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| Project Status |
Completed (Fiscal Year 2020)
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| Budget Amount *help |
¥4,160,000 (Direct Cost: ¥3,200,000、Indirect Cost: ¥960,000)
Fiscal Year 2020: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
Fiscal Year 2019: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2018: ¥910,000 (Direct Cost: ¥700,000、Indirect Cost: ¥210,000)
Fiscal Year 2017: ¥1,170,000 (Direct Cost: ¥900,000、Indirect Cost: ¥270,000)
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| Keywords | 金融リテラシー / 株式投資 / 貯蓄 / 自信 / バイアス / 自信過剰 / 老後のための貯蓄 / 行動経済学 / 行動ファイナンス / 損失回避 / 因子分析 / 金融論 |
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| Outline of Final Research Achievements |
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 and 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 future, but also indirectly via a reduction in behavioral biases.
Furthermore, confidence in financial literacy could have an effect equal to or greater than financial literacy. For people with low financial literacy, overconfidence can encourage taking financial action, while for people with high financial literacy, under-confidence can deter action.
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| Academic Significance and Societal Importance of the Research Achievements |
日本においても、これから投資や年金等の意思決定において自己責任が問われる時代になりつつある中、金融リテラシーは不可欠なものになる。本研究の実証研究結果により、日本人の金融リテラシーと財務意思決定に関する現状を示し、金融リテラシーはどのような要因によって決定されるのか、そして、ファイナンシャル意思決定にどのように働き、どのように影響を与えるのか、などの問題を明らかにした。これは日本の経済にとって重要な貢献になると思われる。個人にとっては金融リテラシーの投資、政府にとっては金融教育政策の在り方の検討に役立てることが期待できる。
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