http://pfp.missouri.edu/documents/research/sharpe_effectofpersonal.pdf
Complete Description:Analysis of survey data collected from 6,520 students at a large Midwestern University affirmed that financial knowledge is a significant factor in the credit card decisions of college students but not entirely in expected ways. Results of a double hurdle analysis indicated that students with relatively higher levels of financial knowledge were not significantly different from students with relatively lower levels in terms of the probability of having a credit card balance. Contrary to expectations, those with higher levels of financial knowledge had significantly higher credit card balances. Overall, the present findings highlight the complex nature of the relationship between personal financial knowledge and credit card behavior.
Author:Cliff A. Robb and Deanna L. Sharpe
Funding Agency: Department of Agriculture
Type: Peer-reviewed;
Source: Survey data;
Language: English
Audience: Researcher
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