Abstract

HERNANDEZ-RIVERA, Ariadna  and  FLORES-LARA, Shunashi Alejandra. The financial behavior of young university students in six Mexican states: an analysis from the financial-behavioral perspective. Diálogos sobre educ. Temas actuales en investig. educ. [online]. 2022, vol.13, n.25, 00016.  Epub Jan 27, 2023. ISSN 2007-2171.  https://doi.org/10.32870/dse.v0i25.1131.

Behavioral finance is a relatively new aspect of finance, based on the assumption of irrationality in decision making. It is constructed and influenced by the knowledge, skills, abilities, aptitudes, and conditions of the environment in which the economic entity develops. The aim of this study was to analyze economic and behavioral elements in order to identify the factors underlying the behavior of young university students in regard to their finances. To this end, we applied an instrument to 3,600 students in the economic-administrative area of higher education institutions in six Mexican states, and conducted an analysis of indicators on a dichotomous, nominal, and ordinal scale, applying a multiple regression model based on the construction of three latent variables. This allowed us to identify a positive relationship between financial education, socioeconomic and psychological factors regarding financial behavior. Based on the resulting weights, we observed that the financial behavior of students is not satisfactory, and concluded that such strategic axes should be promoted effectively in order to help young people and society at large to make financial decisions.

Keywords : financial education; financial behavior; university youth; higher education; institutions; decision making.

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