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Financial literacy amongst elderly Australians

Research output: Contribution to journal › Article › peer-review

Standard Standard

Financial literacy amongst elderly Australians. / Xue, Rui; Gepp, Adrian; O'Neill, Terence et al.
In: Accounting and Finance , Vol. 59, No. S1, 01.04.2019, p. 887-918.

Research output: Contribution to journal › Article › peer-review

HarvardHarvard

Xue, R, Gepp, A, O'Neill, T, Stern, S & Vanstone, BJ 2019, 'Financial literacy amongst elderly Australians', Accounting and Finance , vol. 59, no. S1, pp. 887-918. https://doi.org/10.1111/acfi.12362

APA

Xue, R., Gepp, A., O'Neill, T., Stern, S., & Vanstone, B. J. (2019). Financial literacy amongst elderly Australians. Accounting and Finance , 59(S1), 887-918. https://doi.org/10.1111/acfi.12362

CBE

Xue R, Gepp A, O'Neill T, Stern S, Vanstone BJ. 2019. Financial literacy amongst elderly Australians. Accounting and Finance . 59(S1):887-918. https://doi.org/10.1111/acfi.12362

MLA

Xue, Rui et al. "Financial literacy amongst elderly Australians". Accounting and Finance . 2019, 59(S1). 887-918. https://doi.org/10.1111/acfi.12362

VancouverVancouver

Xue R, Gepp A, O'Neill T, Stern S, Vanstone BJ. Financial literacy amongst elderly Australians. Accounting and Finance . 2019 Apr 1;59(S1):887-918. doi: 10.1111/acfi.12362

Author

Xue, Rui ; Gepp, Adrian ; O'Neill, Terence et al. / Financial literacy amongst elderly Australians. In: Accounting and Finance . 2019 ; Vol. 59, No. S1. pp. 887-918.

RIS

TY - JOUR

T1 - Financial literacy amongst elderly Australians

AU - Xue, Rui

AU - Gepp, Adrian

AU - O'Neill, Terence

AU - Stern, Steven

AU - Vanstone, Bruce J

PY - 2019/4/1

Y1 - 2019/4/1

N2 - Financial illiteracy is widespread amongst the elderly. Financially illiterate people are more likely to experience asset loss and outlive their savings after retirement. This paper measures financial literacy of elderly Australians using Item Responses Theory. Using a Lasso regression, we find that younger, married males with higher income and greater net wealth are more likely to be financially literate. Better financial literacy is also associated with good health, higher educational attainment, better occupation and outright home ownership. Our findings suggest policy‐makers take action and we make informed and practicable policy recommendations.

AB - Financial illiteracy is widespread amongst the elderly. Financially illiterate people are more likely to experience asset loss and outlive their savings after retirement. This paper measures financial literacy of elderly Australians using Item Responses Theory. Using a Lasso regression, we find that younger, married males with higher income and greater net wealth are more likely to be financially literate. Better financial literacy is also associated with good health, higher educational attainment, better occupation and outright home ownership. Our findings suggest policy‐makers take action and we make informed and practicable policy recommendations.

U2 - 10.1111/acfi.12362

DO - 10.1111/acfi.12362

M3 - Article

VL - 59

SP - 887

EP - 918

JO - Accounting and Finance

JF - Accounting and Finance

SN - 0810-5391

IS - S1

ER -