FINANCIAL LITERACY: A STUDY USING THE APPLICATION OF ITEM RESPONSE THEORY

Authors

  • João Carlos Hipólito Bernardes do Nascimento Universidade Federal do Rio de Janeiro, Rio de Janeiro, RJ http://orcid.org/0000-0003-3505-372X
  • Marcelo Álvaro da Silva Macedo Universidade Federal do Rio de Janeiro, Rio de Janeiro, RJ
  • José Ricardo Maia de Siqueira Universidade Federal do Rio de Janeiro, Rio de Janeiro, RJ
  • Juliana Reis Bernardes Universidade Estácio de Sá, Rio de Janeiro, RJ

DOI:

https://doi.org/10.13058/raep.2016.v17n1.341

Keywords:

financial literacy, latent skills, Item Response Theory

Abstract

This study aimed to measure the level of financial literacy of Business Administration course students at a federal Higher Education Institution (HEI). To this end, a survey was conducted on 307 students. The Item Response Theory (IRT) was employed for data analysis and the findings support the conclusion that the students show a low level of financial literacy, as well as the existence of a conservative investment profile among students. This scenario, in line with previous empirical studies conducted in the Brazil, is worrying given the potential negative externalities resulting from poor financial decisions, especially those related to home financing and retirement preparations. This study contributes to the empirical evaluation, within the national context, of the use of IRT in estimating financial literacy, and shows that it is, indeed, an important methodological option in the estimation of this latent trait. Furthermore, this enables financial knowledge to be compared through consistent and reliable means, using studies, populations, realities and separate programs.

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Author Biographies

João Carlos Hipólito Bernardes do Nascimento, Universidade Federal do Rio de Janeiro, Rio de Janeiro, RJ

Mestre em Ciências Contábeis pela FUCAPE Business School. Áreas de interesse em pesquisa: Ensino e Pesquisa em Administração e Contabilidade, Governança Corporativa e Gestão Pública.

Marcelo Álvaro da Silva Macedo, Universidade Federal do Rio de Janeiro, Rio de Janeiro, RJ

Doutor em Engenharia de Produção pela COPPE/UFRJ. Áreas de interesse em pesquisa: Contabilidade, Finanças, Métodos Quantitativos Aplicados à Contabilidade.

José Ricardo Maia de Siqueira, Universidade Federal do Rio de Janeiro, Rio de Janeiro, RJ

Doutor em Engenharia de Produção pela COPPE/UFRJ. Áreas de interesse em pesquisa: Relatórios de Sustentabilidade, Responsabilidade Social, Ensino e Pesquisa em Administração e Contabilidade.

Juliana Reis Bernardes, Universidade Estácio de Sá, Rio de Janeiro, RJ

Licenciada em Letras pela Universidade de Pernambuco. Áreas de interesse em pesquisa: Consumo, Marketing, Ensino e Pesquisa em Administração e Contabilidade.

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Published

2016-04-30

How to Cite

Nascimento, J. C. H. B. do, Macedo, M. Álvaro da S., Siqueira, J. R. M. de, & Bernardes, J. R. (2016). FINANCIAL LITERACY: A STUDY USING THE APPLICATION OF ITEM RESPONSE THEORY. Administração: Ensino E Pesquisa, 17(1), 147–175. https://doi.org/10.13058/raep.2016.v17n1.341

Issue

Vol. 17 No. 1 (2016): Janeiro-Abril

Section

Articles

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